Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: April 2, 2026, 3:25 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500312 | NSE: ONGC

Oil & Natural Gas Corpn Ltd (ONGC): Intrinsic Value & Share Price Analysis

Fair Value

₹246.27Overvalued by 14.49%vs CMP ₹288.00

P/E (9.5) × ROE (10.6%) × BV (₹292.00) × DY (4.25%)

₹307.21Fairly Valued by 6.67%vs CMP ₹288.00
MoS: +6.3% (Thin)Confidence: 43/100 (Low)Models: 2 Under, 3 Fair, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹237.4223%Over (-17.6%)
Graham NumberEarnings₹444.9916%Under (+54.5%)
Earnings PowerEarnings₹126.5411%Over (-56.1%)
DCFCash Flow₹223.4814%Over (-22.4%)
Net Asset ValueAssets₹292.297%Fair (+1.5%)
EV/EBITDAEnterprise₹648.939%Under (+125.3%)
Earnings YieldEarnings₹301.407%Fair (+4.7%)
ROCE CapitalReturns₹284.887%Fair (-1.1%)
Revenue MultipleRevenue₹243.225%Over (-15.5%)
Consensus (9 models)₹307.21100%Fairly Valued
Key Drivers: Wide model spread (₹127–₹649) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -3.6%

*Investments are subject to market risks

Investment Snapshot

56
Oil & Natural Gas Corpn Ltd (ONGC) scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health57/100 · Moderate
ROCE 12.0% AverageROE 10.6% AverageD/E 0.49 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.32% (6mo) Slight increasePromoter holding at 58.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 16% Steady
Quarterly Momentum58/100 · Moderate
Revenue (4Q): -1% YoY FlatProfit (4Q): +11% YoY Positive
Industry Rank60/100 · Moderate
P/E 9.5 vs industry 93.4 Cheaper than peersROCE 12.0% vs industry 10.6% Average3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:25 am

Market Cap 3,62,375 Cr.
Current Price 288
Intrinsic Value₹307.21
High / Low 293/205
Stock P/E9.54
Book Value 292
Dividend Yield4.25 %
ROCE12.0 %
ROE10.6 %
Face Value 5.00
PEG Ratio-2.66

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Oil & Natural Gas Corpn Ltd (ONGC)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Oil & Natural Gas Corpn Ltd (ONGC) 3,62,375 Cr. 288 293/2059.54 2924.25 %12.0 %10.6 % 5.00
Oil India Ltd 77,004 Cr. 473 524/32213.2 3462.43 %12.9 %13.3 % 10.0
Galaxy Surfactants Ltd 5,794 Cr. 1,634 2,750/1,51020.0 7151.35 %16.2 %13.5 % 10.0
Deep Industries Ltd 2,866 Cr. 448 578/32712.4 3020.68 %12.1 %12.9 % 5.00
Hindustan Oil Exploration Company Ltd 1,620 Cr. 123 199/11821.8 1030.00 %12.3 %11.8 % 10.0
Industry Average37,995.83 Cr387.8293.43600.591.02%10.56%9.87%6.85

All Competitor Stocks of Oil & Natural Gas Corpn Ltd (ONGC)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 169,213164,067163,824147,614167,357172,137168,968159,331167,213170,812163,108157,911167,423
Expenses 147,346143,527133,029119,534146,996148,913147,183138,757142,858148,727137,429131,390142,088
Operating Profit 21,86720,53930,79528,08020,36023,22421,78520,57424,35422,08525,67926,52125,335
OPM % 13%13%19%19%12%13%13%13%15%13%16%17%15%
Other Income 2,807-4,7863,0693,6734,2993,3753,5354,1622,4153,4652,5553,4473,450
Interest 2,1882,0682,3643,2433,2033,6083,6943,8273,7503,5003,3413,4113,207
Depreciation 6,7846,7447,0787,0797,4948,4208,5018,2549,5399,0439,3849,2739,388
Profit before tax 15,7026,94124,42221,43113,96214,57013,12512,65513,48013,00615,50917,28416,190
Tax % 26%7%27%25%25%24%26%22%28%32%26%27%26%
Net Profit 11,6656,47817,89316,17110,51111,0969,7769,8419,7478,85611,55412,61511,946
EPS in Rs 9.133.5711.6410.898.517.977.938.146.825.827.798.577.96

Last Updated: March 3, 2026, 4:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 6:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 174,121160,923124,036282,506322,706421,624396,728303,849491,246632,291601,581612,065659,254
Expenses 124,991118,61084,901229,702265,817346,805344,623254,375411,373556,764499,198523,205559,633
Operating Profit 49,13042,31239,13552,80456,88974,81952,10549,47379,87475,527102,38388,86199,620
OPM % 28%26%32%19%18%18%13%16%16%12%17%15%15%
Other Income 7,1705,9551,06712,72410,4299,56798211,2716,797-3014,71213,27812,917
Interest 6242,8643,7663,5914,9995,8377,4895,0795,6967,88913,02614,53513,460
Depreciation 16,26218,03316,38420,21923,11223,70426,63525,53826,88324,55730,44035,20637,089
Profit before tax 39,41327,37020,05241,71839,20854,84618,96230,12654,09143,05173,62952,39861,989
Tax % 32%35%35%30%34%38%40%29%9%24%25%27%
Net Profit 26,66517,70313,10229,16926,06833,93811,45621,36049,29432,77855,27338,32944,972
EPS in Rs 20.6514.2910.0319.0317.2324.288.5912.9636.1928.1739.0628.8030.14
Dividend Payout % 31%44%56%40%38%29%58%28%29%40%31%43%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-33.61%-25.99%122.63%-10.63%30.19%-66.24%86.45%130.78%-33.51%68.63%-30.66%
Change in YoY Net Profit Growth (%)0.00%7.62%148.62%-133.26%40.82%-96.43%152.70%44.32%-164.28%102.13%-99.28%

Oil & Natural Gas Corpn Ltd (ONGC) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:14%
5 Years:9%
3 Years:8%
TTM:0%
Compounded Profit Growth
10 Years:7%
5 Years:19%
3 Years:-8%
TTM:-21%
Stock Price CAGR
10 Years:4%
5 Years:25%
3 Years:21%
1 Year:-24%
Return on Equity
10 Years:13%
5 Years:14%
3 Years:14%
Last Year:11%

Last Updated: September 5, 2025, 11:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:44 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4,2784,2784,2786,4176,4176,2906,2906,2906,2906,2906,2906,2906,290
Reserves 167,874176,177193,536187,969197,602210,644198,814214,691253,213274,357332,779337,150361,489
Borrowings 49,11353,94445,50080,029106,550107,742129,473133,187121,986142,255191,195187,817176,018
Other Liabilities 103,711103,44898,459170,111148,664167,667173,787187,580201,771190,212206,357221,398237,621
Total Liabilities 324,976337,847341,772444,525459,232492,343508,364541,748583,260613,115736,621752,656781,418
Fixed Assets 155,923179,933166,277211,125226,058230,391243,892243,746254,402250,819317,183336,810362,910
CWIP 72,03463,39357,66859,04261,51269,05683,832100,309106,719113,945118,729115,72494,643
Investments 4,7464,74933,38770,74667,33566,90956,75560,32066,64278,873100,86295,617100,867
Other Assets 92,27389,77184,440103,612104,328125,987123,884137,372155,496169,478199,847204,504222,997
Total Assets 324,976337,847341,772444,525459,232492,343508,364541,748583,260613,115736,621752,656781,418

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 53,27033,95046,29245,78056,79261,45870,59347,18578,24884,21198,84790,868
Cash from Investing Activity + -63,633-30,058-38,256-43,815-66,798-37,132-53,159-39,141-41,197-72,799-57,423-42,901
Cash from Financing Activity + 15,225-10,641-8,972-1,8679,909-23,324-16,726-8,239-35,790-12,916-45,009-47,908
Net Cash Flow 4,862-6,749-93599-971,001708-1951,261-1,504-3,58659
Free Cash Flow 38,33517,05331,19925,44529,06135,69728,73515,14745,15847,75860,96550,154
CFO/OP 130%102%138%105%119%103%155%111%115%132%111%118%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.00-11.00-6.00-28.00-50.00-33.00-77.00-84.00-42.00-67.00-89.00-99.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 34432516161381914111213
Inventory Days 7965105655648468590618799
Days Payable 155175290514841315166466164
Cash Conversion Cycle -43-67-161302421235439273847
Working Capital Days -59-30-59-85-61-44-54-50-24-30-46-37
ROCE %20%13%13%17%14%19%10%9%16%14%18%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 58.89%58.89%58.89%58.89%58.89%58.89%58.89%58.89%58.89%58.89%58.89%58.89%
FIIs 7.97%8.11%8.38%9.20%8.88%8.57%8.12%7.53%7.11%7.08%6.98%7.43%
DIIs 19.87%19.84%19.58%18.73%18.88%18.75%19.04%19.40%19.93%19.85%19.96%19.69%
Government 10.30%10.30%10.30%10.30%10.30%10.30%10.30%10.30%10.30%10.30%10.30%10.30%
Public 2.94%2.87%2.83%2.89%3.05%3.50%3.65%3.88%3.76%3.88%3.87%3.69%
No. of Shareholders 15,48,72615,23,40615,13,38315,88,56417,90,07421,41,47927,88,15330,50,31230,30,75930,21,30129,59,51328,56,489

Shareholding Pattern Chart

No. of Shareholders

Oil & Natural Gas Corpn Ltd (ONGC): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund 55,000,000 1.52 1479.2850,250,0002025-12-15 01:18:539.45%
ICICI Prudential Large Cap Fund 41,022,429 1.44 1103.3448,516,4292026-02-23 07:42:50-15.45%
ICICI Prudential Value Fund 36,493,717 1.63 981.5449,146,2962026-02-23 07:11:39-25.74%
ICICI Prudential Equity & Debt Fund 27,947,527 1.53 751.6831,349,5332026-02-23 00:15:36-10.85%
SBI Contra Fund 23,896,662 1.32 642.72N/AN/AN/A
ICICI Prudential India Opportunities Fund 23,828,889 1.82 640.935,286,3892026-02-23 01:21:59-32.47%
ICICI Prudential Multi Asset Fund 23,562,200 0.78 633.7332,562,2002026-02-23 07:42:50-27.64%
ICICI Prudential Energy Opportunities Fund 17,000,724 4.62 457.2523,944,6102026-02-23 07:42:51-29%
SBI ELSS Tax Saver Fund 17,000,000 1.44 457.23N/AN/AN/A
ICICI Prudential Balanced Advantage Fund 13,529,250 0.52 363.8815,135,1412026-02-23 00:30:02-10.61%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 28.8039.1328.1736.1912.92
Diluted EPS (Rs.) 28.8039.1328.1736.1912.92
Cash EPS (Rs.) 57.6369.1048.5360.0336.46
Book Value[Excl.RevalReserv]/Share (Rs.) 273.00290.21239.47225.22192.84
Book Value[Incl.RevalReserv]/Share (Rs.) 273.00290.21239.47225.22192.84
Revenue From Operations / Share (Rs.) 486.53470.14502.63390.51241.65
PBDIT / Share (Rs.) 80.4994.2169.4370.0546.73
PBIT / Share (Rs.) 52.5068.5946.9348.0326.43
PBT / Share (Rs.) 40.8359.1934.1941.8323.12
Net Profit / Share (Rs.) 29.6443.4826.0338.0216.16
NP After MI And SOA / Share (Rs.) 28.8039.1328.1736.1912.92
PBDIT Margin (%) 16.5420.0313.8117.9319.33
PBIT Margin (%) 10.7914.599.3312.3010.93
PBT Margin (%) 8.3912.596.8010.719.56
Net Profit Margin (%) 6.099.245.179.736.68
NP After MI And SOA Margin (%) 5.918.325.609.265.34
Return on Networth / Equity (%) 10.5414.6012.6217.547.35
Return on Capital Employeed (%) 11.1515.4312.2413.197.91
Return On Assets (%) 4.776.935.767.772.99
Long Term Debt / Equity (X) 0.280.230.350.330.35
Total Debt / Equity (X) 0.440.350.460.410.49
Asset Turnover Ratio (%) 0.830.890.300.250.16
Current Ratio (X) 0.800.880.860.830.75
Quick Ratio (X) 0.450.530.520.400.39
Inventory Turnover Ratio (X) 11.013.590.120.120.32
Dividend Payout Ratio (NP) (%) 46.8826.1949.6925.1414.06
Dividend Payout Ratio (CP) (%) 23.7715.8327.6315.635.46
Earning Retention Ratio (%) 53.1273.8150.3174.8685.94
Cash Earning Retention Ratio (%) 76.2384.1772.3784.3794.54
Interest Coverage Ratio (X) 6.9711.6311.0715.4711.57
Interest Coverage Ratio (Post Tax) (X) 3.586.536.189.774.82
Enterprise Value (Cr.) 467150.84448048.83310615.17330950.56252750.74
EV / Net Operating Revenue (X) 0.760.750.490.670.83
EV / EBITDA (X) 4.613.783.563.764.30
MarketCap / Net Operating Revenue (X) 0.500.560.300.410.42
Retention Ratios (%) 53.1173.8050.3074.8585.93
Price / BV (X) 0.900.990.670.790.58
Price / Net Operating Revenue (X) 0.500.560.300.410.42
EarningsYield 0.110.140.180.220.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Oil And Natural Gas Corporation Ltd. is a Public Limited Listed company incorporated on 23/06/1993 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1993GOI054155 and registration number is 054155. Currently Company is involved in the business activities of Off shore extraction of crude petroleum. Company's Total Operating Revenue is Rs. 133862.73 Cr. and Equity Capital is Rs. 6290.14 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Oil Drilling And ExplorationPlot No. 5A- 5B, Nelson Mandela Road, New Delhi Delhi 110070Contact not found
Management
NamePosition Held
Mr. Arun Kumar SinghChairman & CEO
Mr. V C TongaonkarDirector - Finance & CFO
Mr. Manish PatilDirector - Human Resources
Mr. Om Prakash SinghDirector
Ms. Sushma RawatDirector
Mr. Pankaj KumarDirector
Mr. Syamchand GhoshIndependent Director
Mr. V Ajit Kumar RajuIndependent Director
Mr. Manish PareekIndependent Director
Mrs. Reena JaitlyIndependent Director
Dr. Prabhaskar RaiIndependent Director
Dr. Madhav SinghIndependent Director
Mr. Praveen Mal KhanoojaGovernment Nominee Director

FAQ

What is the intrinsic value of Oil & Natural Gas Corpn Ltd (ONGC) and is it undervalued?

As of 14 April 2026, Oil & Natural Gas Corpn Ltd (ONGC)'s intrinsic value is ₹307.21, which is 6.67% higher than the current market price of ₹288.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (10.6 %), book value (₹292), dividend yield (4.25 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Oil & Natural Gas Corpn Ltd (ONGC)?

Oil & Natural Gas Corpn Ltd (ONGC) is trading at ₹288.00 as of 14 April 2026, with a FY2026-2027 high of ₹293 and low of ₹205. The stock is currently near its 52-week high. Market cap stands at ₹3,62,375 Cr..

How does Oil & Natural Gas Corpn Ltd (ONGC)'s P/E ratio compare to its industry?

Oil & Natural Gas Corpn Ltd (ONGC) has a P/E ratio of 9.54, which is below the industry average of 93.43. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Oil & Natural Gas Corpn Ltd (ONGC) financially healthy?

Key indicators for Oil & Natural Gas Corpn Ltd (ONGC): ROCE of 12.0 % is moderate. Dividend yield is 4.25 %.

Is Oil & Natural Gas Corpn Ltd (ONGC) profitable and how is the profit trend?

Oil & Natural Gas Corpn Ltd (ONGC) reported a net profit of ₹38,329 Cr in Mar 2025 on revenue of ₹612,065 Cr. Compared to ₹49,294 Cr in Mar 2022, the net profit shows a declining trend.

Does Oil & Natural Gas Corpn Ltd (ONGC) pay dividends?

Oil & Natural Gas Corpn Ltd (ONGC) has a dividend yield of 4.25 % at the current price of ₹288.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Oil & Natural Gas Corpn Ltd (ONGC). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports