India's state-owned explorer and producer of crude oil and natural gas, with overseas assets via ONGC Videsh.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,04,987 | +25.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 8.0 | −8.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 6,554 | −43.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 12.23 | +1.0 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 11.87 | +3.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 7.11 | −2.3 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
5 targets tracked, none judged yet · 5 open · verdicts reflect calls analysed to Q2 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Gas Sales Volume Growth | 8-10% in FY26 | Q2 FY25 | Guidance reiterated, but no new gas production data provided. Status remains at risk based on Q1 performance. | At Risk |
| Total Capital Expenditure | ₹32,000 crores for FY26 | Q2 FY25 | Guidance reiterated. No interim spending data provided to verify progress. | On Track |
5 of O N G C's 5 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 3 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹254.96 on 24 Oct 2025 → ₹228.44. High ₹301.4 (29 Apr 2026), low ₹219.8 (8 Oct 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Oil and Natural Gas Corporation (ONGC) is India's government-owned integrated oil and gas company. It explores for and produces crude oil and natural gas from offshore and onshore fields in India, and refines crude into petroleum products in its downstream business. Through its wholly-owned subsidiary ONGC Videsh Limited (OVL), it also holds oil and gas exploration and production assets internationally, including a stake in the Area 1 offshore gas project in Mozambique and blocks in South Sudan. The Government of India, through the Ministry of Petroleum & Natural Gas, is the promoter and controlling shareholder.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
5 targets tracked, none judged yet · 5 open · verdicts reflect calls analysed to Q2 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Gas Sales Volume Growth | 8-10% in FY26 | Q2 FY25 | Guidance reiterated, but no new gas production data provided. Status remains at risk based on Q1 performance. | At Risk |
| Total Capital Expenditure | ₹32,000 crores for FY26 | Q2 FY25 | Guidance reiterated. No interim spending data provided to verify progress. | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 5 tracked commitments, with each call’s wording and source.
Call summaries
ONGC Q2 FY26
ONGC's Q2 FY26 earnings call demonstrated mixed operational performance with steady production volumes offset by margin pressure from volatile commodity prices. Management maintained strategic focus on high-return upstream projects while acknowledging near-term challenges in the refining business.
Read the full callONGC Q1 FY26
ONGC's Q1 FY26 earnings call demonstrated mixed operational performance with steady production volumes offset by margin pressure from volatile commodity prices. Management maintained strategic focus on high-return upstream projects while acknowledging near-term challenges in the refining business.
Read the full callONGC Q4 FY25
ONGC's Q4 FY25 earnings call demonstrated mixed operational performance with steady production volumes offset by margin pressure from volatile commodity prices. Management maintained strategic focus on high-return upstream projects while acknowledging near-term challenges in the refining business.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: −43% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,59,331 | 1,67,213 | 1,67,749 | 1,63,106 | 1,57,911 | 1,67,423 | 1,73,801 | 2,04,987 |
| Expenses | 1,38,757 | 1,42,858 | 1,45,983 | 1,37,336 | 1,31,390 | 1,42,088 | 1,48,449 | 1,89,502 |
| Operating profit | 20,574 | 24,354 | 21,766 | 25,770 | 26,521 | 25,335 | 25,352 | 15,485 |
| Operating margin | 13.0% | 15.0% | 13.0% | 16.0% | 17.0% | 15.0% | 15.0% | 8.0% |
| Other income | 4,162 | 2,415 | 3,548 | 2,464 | 3,447 | 3,450 | 5,702 | 3,858 |
| Interest | 3,827 | 3,750 | 3,264 | 3,341 | 3,411 | 3,207 | 3,070 | 2,854 |
| Depreciation | 8,254 | 9,539 | 8,912 | 9,384 | 9,273 | 9,388 | 9,345 | 9,477 |
| Profit before tax | 12,655 | 13,480 | 13,137 | 15,509 | 17,284 | 16,190 | 18,640 | 7,012 |
| Tax rate | 22.0% | 28.0% | 32.0% | 26.0% | 27.0% | 26.0% | 27.0% | 7.0% |
| Net profit | 9,841 | 9,747 | 8,965 | 11,554 | 12,615 | 11,946 | 13,678 | 6,554 |
| EPS (₹ per share) | 8.14 | 6.82 | 5.91 | 7.79 | 8.57 | 7.96 | 8.60 | 9.46 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 6,84,830 | 6,50,932 | 6,63,261 | 6,62,241 |
| Expenses | 6,10,225 | 5,48,472 | 5,74,781 | 5,59,263 |
| Operating profit | 74,605 | 1,02,459 | 88,479 | 1,02,978 |
| Other income | 1,955 | 14,416 | 13,660 | 15,063 |
| Interest | 7,889 | 12,418 | 14,535 | 13,029 |
| Depreciation | 24,582 | 30,071 | 35,206 | 37,390 |
| Profit before tax | 44,088 | 74,385 | 52,397 | 67,623 |
| Net profit | 33,554 | 55,671 | 38,329 | 49,793 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 6,290 | 6,290 | 6,290 | 6,290 | 6,290 | 6,290 |
| Reserves | 2,53,213 | 2,74,357 | 3,32,779 | 3,37,150 | 3,61,489 | 3,65,478 |
| Borrowings | 1,21,986 | 1,42,255 | 1,91,195 | 1,87,817 | 1,76,018 | 1,74,316 |
| Other liabilities | 2,01,771 | 1,90,212 | 2,06,357 | 2,21,401 | 2,37,621 | 2,39,518 |
| Total liabilities | 5,83,260 | 6,13,115 | 7,36,621 | 7,52,658 | 7,81,418 | 7,85,602 |
| Fixed assets | 2,54,402 | 2,50,819 | 3,17,183 | 3,40,175 | 3,62,910 | 3,46,073 |
| Capital work in progress | 1,06,719 | 1,13,945 | 1,18,729 | 1,12,614 | 94,643 | 1,16,272 |
| Investments | 66,642 | 78,873 | 1,00,862 | 95,617 | 1,00,867 | 1,01,084 |
| Other assets | 1,55,496 | 1,69,478 | 1,99,847 | 2,04,252 | 2,22,997 | 2,22,173 |
| Total assets | 5,83,260 | 6,13,115 | 7,36,621 | 7,52,658 | 7,81,418 | 7,85,602 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 47,185 | 78,248 | 84,211 | 98,847 | 90,856 | 1,12,719 |
| Cash from investing | -39,141 | -41,197 | -72,799 | -57,423 | -42,879 | -57,419 |
| Cash from financing | -8,239 | -35,790 | -12,916 | -45,009 | -47,908 | -56,331 |
| Net cash flow | -195 | 1,261 | -1,504 | -3,586 | 68 | -1,031 |
| Free cash flow | 15,147 | 45,158 | 47,758 | 60,965 | 50,143 | 72,219 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 19 | 14 | 11 | 12 | 13 | 13 |
| Inventory days | 85 | 90 | 61 | 87 | 99 | 119 |
| Days payable | 51 | 66 | 46 | 61 | 64 | 84 |
| Cash conversion cycle | 54 | 39 | 27 | 38 | 47 | 48 |
| Working capital days | -50 | -24 | -30 | -46 | -37 | -37 |
| Return on capital employed | 9.0% | 16.0% | 14.0% | 18.0% | 12.0% | 14.0% |
| Dividend payout | 28.0% | 29.0% | 40.0% | 31.0% | 43.0% | 22.0% |
The businesses behind the company’s reported revenue.
a) Offshore contributes 71.8% of reported segment revenue.
Quarter ended 30 Jun 2026 · Standalone
₹33,337.24 crore
₹13,123.21 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| a) Offshore | 33,337.24 | 71.8% |
| b) Onshore | 13,123.21 | 28.2% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Ownership
Promoters hold 58.89% as of Sept 2026; institutions cut 0.11 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of O N G C above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 58.89% | unchanged | |
| Insurer | 10.33% | +0.38 pp |
| 7.84% | unchanged | |
| 2.45% | unchanged | |
| Mutual fund | 1.72% | −0.23 pp |
| Mutual fund | 1.58% | −0.19 pp |
| Mutual fund | 1.27% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 15 added, 16 trimmed, 3 sold out — net −90.99 L shares (−2.3%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| CPSE ETF Nippon India Mutual Fund | ₹2.5k Cr | −10.14 L | Jan '19 |
| SBI Nifty 50 ETF SBI Mutual Fund | ₹1.7k Cr | −0.12 L | Aug '21 |
| SBI Energy Opportunities Fund SBI Mutual Fund | ₹617 Cr | +30.00 L | Mar '24 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹546 Cr | +5.40 L | Jan '19 |
| SBI Contra Fund SBI Mutual Fund | ₹540 Cr | held | Dec '22 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹295 Cr | held | Dec '22 |
| HDFC Flexi Cap Fund HDFC Mutual Fund | ₹289 Cr | held | Feb '25 |
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹271 Cr | held | Jan '23 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
15 added, 16 trimmed — net −90.99 L shares (−2.3%)
Shares held by these funds −22%
Oct '23 39.36 cr shares Sep '26
Your own record
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