Oil & Natural Gas Corporation Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.

Emphasis of matterRevenue declinedEBITDA margin compressionContingent liabilities increasedResults View source PDF Explain this filing

ONGC · price

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Price reactionminutes from the announcement price · days from the prior close

-3.2%Reaction day

₹276.40

prior close

₹270.00

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)-1.3%-1.9% vs market

Oil peers, median of 15sector · industry level-2.7%-0.5% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty 100 and 0.5 pts less than its Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.9

10m

+0.2

15m

-0.6

30m

-0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.2-1.3-1.9-2.7-0.5

Next day

-1.8-0.5-1.3-5.3+3.5

-1.6-0.3-1.4-3.1+1.5

-4.2+0.1-4.4-1.4-2.9

-0.8-1.4+0.6-2.0+1.2

+0.7-0.9+1.5+2.2-1.6

+0.3-1.3+1.6+0.7-0.4

15d

-2.3-6.7+4.3-0.5-1.9

-4.5-9.8+5.4-4.5+0.0

+3.9-7.0+10.8+5.0-1.1

+7.6-7.9+15.4+8.4-0.8

UpDownMarket · Nifty 100Sector · Oil peers, median of 15Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

ONGC reported standalone revenue from operations of ₹31,547 Crore for Q3 FY26, down from ₹33,717 Crore in Q3 FY25, with nine-month revenue at ₹96,580 Crore versus ₹102,864 Crore last year, a decline of about 6%. Net profit for Q3 stood at ₹8,372 Crore (vs ₹8,240 Crore, up ~1.6%), while nine-month profit was ₹26,244 Crore (vs ₹29,162 Crore, down ~10%). The Board declared a 2nd interim dividend of ₹6.25 per share (125% on face value of ₹5), amounting to ~₹7,863 Crore, following the ₹6 per share interim declared in November 2025. The auditors issued an unmodified review report but flagged three Emphasis of Matter items, including a contingent liability of ₹14,600 Crore (up from ₹13,915 Crore in March 2025) related to a Panna-Mukta arbitration award and a sharp increase in JV partners' disputed tax liability to ₹6,439 Crore (up from ₹3,290 Crore).

Likely market impact

Results are mixed — modest Q3 profit growth despite lower revenue, supported by other income, but a clear nine-month earnings decline signals pressure on core operations. The combined interim dividend of ₹12.25 per share offers attractive near-term shareholder returns, though rising contingent liabilities on tax and arbitration matters remain a key overhang to watch.