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Energy Minerals

Oil & Natural Gas Corp. Ltd.

Company Background

India's largest publicly controlled company, Oil and Natural Gas Corp. is more than two-thirds owned by the Indian government. Wholly owned subsidiary ONGC Videsh is the country's largest international oil and gas exploration and production company and has projects in 16 countries.

The foundations of the company were laid in 1955 under India's first prime minister, Jawaharlal Nehru, with the government treating oil and gas as a strategic sector for the country's industrial development and national defense. ONGC is a leader in India's oil and gas industry, producing 70% of the country's total crude oil and around half of its natural gas. It has established more than 7 billion tons of confirmed hydrocarbon reserves in the country, with six out of seven producing basins in India having been discovered by the company.

Dinesh K. Sarraf is chairman and managing director of ONGC, which is under the administrative control of the Ministry of Petroleum and Natural Gas. Sarraf has more than 30 years of experience in the oil and gas industry, having started his career with Oil India. He joined ONGC in 1991 and has filled various key posts, including finance director and managing director of ONGC Videsh before being elevated by the government to his current position in March 2014. He is credited with reviving ONGC Videsh, which suffered huge losses after the purchase of Russia-focused Imperial Energy in 2009.

Business Summary

Oil & Natural Gas Corp. Ltd. engages in the exploration, development, and production of crude oil, natural gas, and value added products. The firm operates through the following business segments: Exploration & Production and Refining & Marketing. The company was founded on August 14, 1956 and is headquartered in New Delhi, India.

Financial Highlights

Mar 2023 INRUSD
Gross Profit1,971.48B24,531.36M
Operating income611,508.90M7,609.04M
Income before tax430,167M5,352.59M
Net income354,404.80M4,409.88M
Diluted EPS28.170.35
Dividends Per Share----
Total Assets6,145.28B74,776.10M
Total liabilities3,132.73B38,119.26M
Total equity2,806.47B34,149.27M
Operating cash flow841,158.80M10,466.59M
Currency in INRCurrency in USD

Historical Data

 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 4,204.72B 3,962.51B 3,037.52B 4,911.17B 6,848.29B
Gross Profit 965,292.39M 716,330.20M 598,127.93M 973,620.04M 1,971.48B
Operating income 626,492.69M 419,540.48M 323,924.01M 600,751.85M 611,508.90M
Income before tax 514,174M 180,293M 291,070.86M 526,271.75M 430,167M
Net income 305,460.40M 108,035.97M 163,043.99M 455,221.06M 354,404.80M
EBITDA 861,243.76M 688,806.42M 588,305.14M 877,706.89M 857,079.40M
Diluted EPS 23.85 8.58 12.96 36.18 28.17
Dividends Per Share 7 5 3.60 10.50 --
Total Assets 4,932.59B 5,100.17B 5,432.78B 5,854.49B 6,145.28B
Total liabilities 2,578.52B 2,861.25B 3,003.12B 3,017.72B 3,132.73B
Total equity 2,169.34B 2,051.04B 2,209.80B 2,595.02B 2,806.47B
Operating cash flow 658,198.34M 739,142.64M 500,286.07M 804,200.24M 841,158.80M
 Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Revenue 60,116.67M 55,884.07M 40,917.70M 65,913.35M 85,213.72M
Gross Profit 13,801.18M 10,102.53M 8,057.22M 13,067.03M 24,531.36M
Operating income 8,957.22M 5,916.85M 4,363.49M 8,062.74M 7,609.04M
Income before tax 7,351.36M 2,542.70M 3,920.93M 7,063.13M 5,352.59M
Net income 4,367.29M 1,523.65M 2,196.32M 6,109.56M 4,409.88M
EBITDA 12,313.56M 9,714.36M 7,924.90M 11,779.77M 10,664.69M
Diluted EPS 0.34 0.12 0.17 0.48 0.35
Dividends Per Share 0.10 0.07 0.04 0.14 --
Total Assets 71,203.03M 67,416.94M 74,305.96M 77,261.54M 74,776.10M
Total liabilities 37,221.60M 37,821.63M 41,074.67M 39,824.80M 38,119.26M
Total equity 31,314.99M 27,111.85M 30,224.27M 34,246.50M 34,149.27M
Operating cash flow 9,410.53M 10,424.26M 6,739.21M 10,793.24M 10,466.59M

Valuation Measures

Mar 2023
Operating margin8.92%
Profit margin5.17%

Key executives

  • Chairman & Chief Executive Officer: Arun Kumar Singh
  • Chief Financial Officer & Finance Director: Pomila Jaspal
  • Director, Director-Technical & Field Services: Om Prakash Singh
  • Secretary & Compliance Officer: Rajni Kant
  • Director & Director-Exploration: Sushma Rawat


  • Government of India (58.8%)
  • Life Insurance Corporation of India (Investment Portfolio) (9.7%)
  • Indian Oil Corp. Ltd. (7.8%)
  • ICICI Prudential Asset Management Co. Ltd. (3.4%)
  • GAIL (India) Ltd. (2.4%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (2.1%)
  • SBI Funds Management Pvt Ltd. (0.9%)
  • The Vanguard Group, Inc. (0.9%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (0.8%)
  • Fidelity Management & Research Co. LLC (0.8%)

Contact Details

  • Website:
  • Address: Nelson Mandela Road, Plot No. 5A- 5B, Vasant Kunj, New Delhi, 110070, India
  • Phone: +91.11.26754073

Related Companies

  • ONGC Self Contributory Post Retirement & Death In Service Sup
  • Oil & Natural Gas Corp. Ltd. (Venture Capital)
  • ONGC Energy Centre
  • Gujarat State Petroleum Corp. Ltd. /KG Basin Block/
  • ONGC Mangalore Petrochemicals Ltd.
  • ONGC Videsh Ltd.
  • Mangalore Refinery and Petrochemicals Limited
  • Hindustan Petroleum Corporation Limited


  • Indian Oil Corp. Ltd.
  • Vedanta Limited
  • PetroNeft Resources Plc
Last Updated on 31 May, 2023

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