ONGC, India’s largest producer of crude oil and natural gas, contributes approximately 71% of the nation’s total production. Despite being listed on stock exchanges for a decade, its shares have seen fluctuating demand. While there was notable growth last year, recent trends show a decline. This article explores ONGC’s fundamentals, quarterly results, and share price targets from 2024 to 2030.
ONGC Overview
ONGC Company Profile
ONGC is India’s largest oil and gas company, headquartered in New Delhi and listed on major Indian stock exchanges.
| Company Name | ONGC |
|---|---|
| Listed at | NSE & BSE |
| Head Office | Plot No. 5A-5B Nelson Mandela Road, Vasant Kunj, New Delhi, 110070 |
| Official Website | ongcindia.com |
ONGC Board of Directors
The board includes Arun Kumar Singh as Chairman and Rajni Kant as Company Secretary, alongside various executive and non-executive independent directors.
| Name | Position |
|---|---|
| Arun Kumar Singh | Chairman |
| Rajni Kant | Company Secretary |
| Various others | Executive Directors and Non-Executive Independent Directors |
ONGC Business Profile
ONGC focuses on crude oil and natural gas production, contributing about 71% to India’s domestic output. It is known as the most profitable PSU in India.
| Aspect | Details |
|---|---|
| Primary Products | Crude oil, natural gas |
| Domestic Production Contribution | 71% |
| Profitability | Most profitable PSU in India |
ONGC Group Companies
ONGC’s key subsidiaries include ONGC Videsh for global operations, HPCL with extensive oil outlets in India, MRPL for refining, and PMHBL for gas transportation.
| Subsidiary | Details |
|---|---|
| ONGC Videsh | Global operations |
| HPCL | 18,600 oil outlets in India |
| MRPL | Mangalore Refinery and Petrochemicals Limited |
| PMHBL | Petronet MHB Limited |
ONGC Joint Ventures
ONGC engages in multiple joint ventures such as OPaL for petrochemicals, OTPC for power, and IGGL for gas grid infrastructure, expanding its reach across various sectors.
| Joint Venture | Details |
|---|---|
| OPaL | ONGC Petro-additions Limited |
| OTPC | ONGC Tripura Power Company Limited |
| TBL | ONGC TERI Biotech Limited |
| IGGL | Indradhanush Gas Grid Limited |
| MSEZ | Mangalore Special Economic Zone |
ONGC Production Data (FY21)
In FY21, ONGC produced 22.816 bcm of natural gas and 22.533 mmt of oil, with a total of 45.350 MMTOE. The company drilled 480 wells, focusing on exploration and development.
| Metric | Value |
|---|---|
| Natural Gas | 22.816 bcm |
| Oil | 22.533 mmt |
| Total MMTOE | 45.350 MMTOE |
| Wells Drilled | 480 (100 exploration, 380 development) |
ONGC International Operations
ONGC operates in 17 countries, with significant projects in Azerbaijan, Bangladesh, Brazil, and Colombia, reflecting its global presence and exploration efforts
| Country | Projects |
|---|---|
| Azerbaijan | 2 projects |
| Bangladesh | 2 projects |
| Brazil | 2 projects |
| Colombia | 7 projects |
| Various others | 17 countries |
ONGC Fundamentals & Quarterly Results
ONGC Key Financial Metrics
ONGC has a market cap of ₹3.33 lakh crore and a current stock price of ₹265. Key financial indicators include a stock P/E of 7.27, a dividend yield of 4.23%, and robust EPS of ₹33.3.
| Metric | Value |
|---|---|
| Market Cap | ₹3,33,881 Cr. |
| Current Price | ₹265 |
| High / Low | ₹293 / ₹150 |
| Stock P/E | 7.27 |
| Book Value | ₹246 |
| Dividend Yield | 4.23% |
| ROCE | 13.9% |
| ROE | 14.1% |
| Debt to Equity | 0.46 |
| Reserves | ₹3,03,337 Cr. |
| EPS | ₹33.3 |
| Free Cash Flow | ₹45,158 Cr. |
ONGC Quarterly Results
The company’s quarterly results show fluctuations in revenue, expenses, operating profit, and net profit, with notable EPS changes throughout the fiscal year.
| Quarter | Revenue (₹ Cr.) | Expenses (₹ Cr.) | Operating Profit (₹ Cr.) | Net Profit (₹ Cr.) | EPS (₹) |
|---|---|---|---|---|---|
| Dec 2021 | 145,673 | 124,306 | 21,367 | 11,637 | 8.69 |
| Mar 2022 | 155,949 | 131,900 | 24,049 | 12,061 | 8.39 |
| Jun 2022 | 182,894 | 164,041 | 18,853 | 8,581 | 9.49 |
| Sep 2022 | 168,656 | 155,311 | 13,346 | 6,830 | 6.60 |
| Dec 2022 | 169,213 | 147,346 | 21,867 | 11,665 | 9.13 |
| Mar 2023 | 164,067 | 144,593 | 19,474 | 5,701 | 2.95 |
| Jun 2023 | 163,824 | 133,717 | 30,107 | 17,383 | 11.23 |
| Sep 2023 | 146,874 | 118,618 | 28,255 | 16,553 | 10.92 |
| Dec 2023 | 165,569 | 145,545 | 20,024 | 10,748 | 8.23 |
ONGC CAGR Report
The report highlights the compound annual growth rates for sales, profit, stock price, and ROE over various time periods, showing diverse growth patterns and recent performance trends.
| Metric | 10 Years | 5 Years | 3 Years | TTM | Last Year |
|---|---|---|---|---|---|
| Compounded Sales Growth | 15% | 14% | 17% | -5% | – |
| Compounded Profit Growth | 5% | 12% | 37% | 17% | – |
| Stock Price CAGR | 1% | 11% | 34% | – | 63% |
| Return on Equity | 12% | 13% | 14% | – | 14% |
ONGC Shareholding Pattern
The shareholding pattern indicates a stable promoter holding of around 58.89%, with increasing public and institutional holdings over recent years, reflecting changes in investor composition.
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Promoter Holding (%) | 68.07% | 67.72% | 64.25% | 60.41% | 60.41% | 58.91% | 58.89% | 58.89% |
| FII Holding (%) | 6.29% | 5.47% | 6.47% | 7.62% | 8.08% | 9.91% | 7.97% | 8.88% |
| DII Holding (%) | 11.96% | 13.25% | 15.73% | 17.87% | 17.48% | 16.36% | 19.87% | 18.88% |
| Public Holding (%) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 10.30% | 10.30% |
| Others Holding (%) | 13.68% | 13.57% | 13.55% | 14.10% | 14.03% | 14.82% | 2.94% | 3.05% |
| No. of Shareholders | 6,29,625 | 6,29,224 | 6,29,594 | 8,67,077 | 11,61,502 | 13,62,794 | 15,48,726 | 17,90,074 |
ONGC Share Price Targets (2024-2030)
The share price targets for ONGC from 2024 to 2030 show a steady upward trend, with expectations ranging from ₹311 in 2024 to ₹556 in 2030, suggesting long-term growth potential.
| Year | Target 1 (₹) | Target 2 (₹) |
|---|---|---|
| 2024 | 311 | 332 |
| 2025 | 341 | 366 |
| 2026 | 373 | 401 |
| 2027 | 403 | 444 |
| 2028 | 434 | 486 |
| 2029 | 464 | 519 |
| 2030 | 495 | 556 |
ONGC Detailed Monthly Targets
Monthly price targets from 2025 to 2030 provide a detailed forecast, indicating fluctuations and projected prices for each month, helping investors plan their investment strategies.
| Year | Month | Target Price (₹) |
|---|---|---|
| 2025 | January | 338 |
| February | 330 | |
| March | 328 | |
| April | 331 | |
| May | 335 | |
| June | 333 | |
| July | 336 | |
| August | 337 | |
| September | 332 | |
| October | 335 | |
| November | 337 | |
| December | 341 | |
| 2026 | January | 344 |
| February | 339 | |
| March | 334 | |
| April | 342 | |
| May | 344 | |
| June | 347 | |
| July | 355 | |
| August | 338 | |
| September | 362 | |
| October | 367 | |
| November | 370 | |
| December | 373 | |
| 2027 | January | 380 |
| February | 377 | |
| March | 370 | |
| April | 372 | |
| May | 375 | |
| June | 377 | |
| July | 380 | |
| August | 383 | |
| September | 387 | |
| October | 391 | |
| November | 398 | |
| December | 403 | |
| 2028 | January | 407 |
| February | 402 | |
| March | 410 | |
| April | 414 | |
| May | 418 | |
| June | 422 | |
| July | 428 | |
| August | 430 | |
| September | 437 | |
| October | 439 | |
| November | 442 | |
| December | 444 | |
| 2029 | January | 450 |
| February | 445 | |
| March | 453 | |
| April | 458 | |
| May | 461 | |
| June | 465 | |
| July | 469 | |
| August | 472 | |
| September | 476 | |
| October | 480 | |
| November | 484 | |
| December | 488 | |
| 2030 | January | 495 |
| February | 500 | |
| March | 504 | |
| April | 508 | |
| May | 512 | |
| June | 515 | |
| July | 520 | |
| August | 525 | |
| September | 528 | |
| October | 532 | |
| November | 537 | |
| December | 542 |
Conclusion
ONGC’s robust fundamentals and consistent performance make it a key player in India’s energy sector. While the share price has experienced volatility, the company’s strategic initiatives and expansion plans offer a promising outlook. Investors should keep an eye on quarterly results and market trends to make informed decisions.ONGC stands out as a major player in India’s energy sector with strong fundamentals and a global presence. Despite share price volatility, its strategic initiatives and growth prospects present a promising investment opportunity. For ongoing updates and financial insights, visit GRM IIT and GRM Bulls.
For the latest updates on ONGC and other financial insights, visit GRM IIT and GRM Bulls.