Oil & Natural Gas Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
ONGC · price
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ONGC reported standalone revenue of Rs 1,32,508 crore for FY26, down 3.9% from Rs 1,37,846 crore in FY25. Profit after tax declined 7.6% to Rs 32,894 crore from Rs 35,610 crore. The board recommended a final dividend of Rs 1 per share (20% on face value of Rs 5). Key business developments include formation of a 50:50 JV with Gujarat Maritime Board for a liquid port at Dahej (5 MMTPA capacity). Auditors issued an unmodified opinion but drew emphasis of matter on: PMT JV arbitration contingent liability of Rs 15,225 crore, Service Tax/GST disputes on royalty with Rs 19,645 crore provisioned, and Rs 2,088 crore terminal excise duty refund receivable. Related party transactions were approved including a $325 million parent guarantee for Brazil operations and Mozambique project transactions.
Revenue and profit declined year-on-year, signaling pressure from lower oil prices or production challenges. The significant contingent liabilities and legal disputes noted by auditors add uncertainty, though the company's low debt-equity ratio (0.02) and strong cash generation provide financial stability.