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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 2022 INRUSD
Gross Profit973,620.04M13,067.03M
Operating income600,751.85M8,062.74M
Income before tax526,271.75M7,063.13M
Net income455,221.06M6,109.56M
Diluted EPS36.180.48
Dividends Per Share10.500.14
Total Assets5,854.49B77,261.54M
Total liabilities3,017.72B39,824.80M
Total equity2,595.02B34,246.50M
Operating cash flow804,200.24M10,793.24M
Currency in INRCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 3,217.93B 4,204.72B 3,962.51B 3,037.52B 4,911.17B
Gross Profit 673,714.87M 965,292.39M 716,330.20M 598,127.93M 973,620.04M
Operating income 398,968.50M 626,492.69M 419,540.48M 323,924.01M 600,751.85M
Income before tax 392,075.02M 514,174M 180,293M 291,070.86M 526,271.75M
Net income 221,059.28M 305,460.40M 108,035.97M 163,043.99M 455,221.06M
EBITDA 647,232.74M 861,243.76M 688,806.42M 588,305.14M 877,706.89M
Diluted EPS 17.23 23.85 8.58 12.96 36.18
Dividends Per Share 6.60 7 5 3.60 10.50
Total Assets 4,602.34B 4,932.59B 5,100.17B 5,432.78B 5,854.49B
Total liabilities 2,394.69B 2,578.52B 2,861.25B 3,003.12B 3,017.72B
Total equity 2,040.18B 2,169.34B 2,051.04B 2,209.80B 2,595.02B
Operating cash flow 617,811.55M 658,198.34M 739,142.64M 500,286.07M 804,200.24M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 49,916.75M 60,116.67M 55,884.07M 40,917.70M 65,913.35M
Gross Profit 10,450.69M 13,801.18M 10,102.53M 8,057.22M 13,067.03M
Operating income 6,188.81M 8,957.22M 5,916.85M 4,363.49M 8,062.74M
Income before tax 6,081.88M 7,351.36M 2,542.70M 3,920.93M 7,063.13M
Net income 3,429.08M 4,367.29M 1,523.65M 2,196.32M 6,109.56M
EBITDA 10,039.90M 12,313.56M 9,714.36M 7,924.90M 11,779.77M
Diluted EPS 0.26 0.34 0.12 0.17 0.48
Dividends Per Share 0.10 0.10 0.07 0.04 0.14
Total Assets 70,564.69M 71,203.03M 67,416.94M 74,305.96M 77,261.54M
Total liabilities 36,716.15M 37,221.60M 37,821.63M 41,074.67M 39,824.80M
Total equity 31,280.83M 31,314.99M 27,111.85M 30,224.27M 34,246.50M
Operating cash flow 9,583.51M 9,410.53M 10,424.26M 6,739.21M 10,793.24M

Valuation Measures

Mar 2022
Operating margin12.23%
Profit margin9.26%

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
  • Executive Director & Director-Production: Pankaj Kumar


  • 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. (3.8%)
  • GAIL (India) Ltd. (2.4%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (2.2%)
  • Fidelity Management & Research Co. LLC (1.4%)
  • SBI Funds Management Pvt Ltd. (0.9%)
  • The Vanguard Group, Inc. (0.9%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (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 23 Mar, 2023

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