Oil & Natural Gas Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on August 12, 2025.
ONGC · price
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ONGC's board approved its Q1 FY26 (quarter ended June 30, 2025) standalone and consolidated unaudited financial results, along with limited review reports from its joint statutory auditors. Revenue from operations stood at ₹32,002.89 Crore, down about 9.3% year-on-year from ₹35,266.38 Crore, while profit after tax declined roughly 10% to ₹8,024.23 Crore (from ₹8,938.10 Crore). EPS for the quarter came in at ₹6.38 versus ₹7.10 in the year-ago quarter, and operating margin was largely flat at 37.08%. The board also approved a ₹4,963.06 Crore investment to set up a 0.6 GW renewable energy project (300 MW solar and 300 MW wind) by 2028 under a group captive model. Statutory auditors drew attention to ongoing contingent liabilities of ₹13,890 Crore (PMT JV arbitration), ₹5,321 Crore (Service Tax/GST on royalty disputes), and ₹2,088 Crore (Terminal Excise Duty refund claim) in their emphasis of matter paragraphs.
The year-on-year decline in revenue and profit reflects lower crude oil realisations and reduced statutory levies, but profitability margins remain broadly stable. The ₹4,963 Crore renewable energy capex signals ONGC's diversification push and should support its ESG profile, though the capital outflow is notable. The emphasis of matter on large contingent liabilities, especially the PMT arbitration, remains a key risk to monitor.