Oil & Natural Gas Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 29, 2025
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ONGC held its 32nd AGM on August 29, 2025, via video conferencing from 11:00 AM to 2:05 PM IST, attended by 297 members. The key item for shareholders was the declaration of a final dividend of ₹1.25 per equity share for FY25. The meeting covered adoption of audited standalone and consolidated financial statements for FY25, along with comments from the Comptroller and Auditor General of India (C&AG). Several director appointments and re-appointments were put to vote, including new Independent Directors and functional directors. Members also approved material related party transactions with entities like Petronet LNG, ONGC's Mozambique Area 1 project, and the ONGC Employees Provident Fund Trust for FY27. The Chairman addressed queries on operational performance, capital expenditure, renewable energy, hydrogen, ESG, and tariff impact. E-voting results are to be submitted to stock exchanges within two working days.
The final dividend of ₹1.25 per share is the main tangible outcome for shareholders from this AGM. The approved related party transactions and Mozambique project financing indicate ONGC's continued international commitments. Investors should watch for the formal e-voting results on the 18 business items for any surprises, though routine items are expected to pass given government majority ownership.