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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 2021 INRUSD
Revenue3,038.51B40,931.03M
Gross Profit598,160.26M8,057.65M
Operating income323,919.66M4,363.43M
Income before tax290,902.85M3,918.67M
Net income162,486.88M2,188.81M
EBITDA588,300.79M7,924.84M
Diluted EPS12.910.17
Dividends Per Share3.600.04
Total Assets5,432.64B74,304.03M
Total liabilities3,002.98B41,072.73M
Total equity2,209.80B30,224.27M
Operating cash flow500,448.09M6,741.40M
Currency in INRCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 2,810.43B 3,217.93B 4,204.72B 3,962.51B 3,038.51B
Gross Profit 591,522.23M 673,714.87M 965,292.39M 716,330.20M 598,160.26M
Operating income 347,723.69M 398,968.50M 626,492.69M 419,540.48M 323,919.66M
Income before tax 417,175.41M 392,075.02M 514,174M 180,293M 290,902.85M
Net income 244,192.50M 221,059.28M 305,460.40M 108,035.97M 162,486.88M
EBITDA 573,452.31M 647,232.74M 861,243.76M 688,806.42M 588,300.79M
Diluted EPS 19.03 17.23 23.85 8.58 12.91
Dividends Per Share 6.05 6.60 7 5 3.60
Total Assets 4,453.97B 4,602.34B 4,932.59B 5,100.17B 5,432.64B
Total liabilities 2,369.34B 2,394.69B 2,578.52B 2,861.25B 3,002.98B
Total equity 1,943.85B 2,040.18B 2,169.34B 2,051.04B 2,209.80B
Operating cash flow 483,249.25M 617,811.55M 658,198.34M 739,142.64M 500,448.09M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 41,911.13M 49,916.75M 60,116.67M 55,884.07M 40,931.03M
Gross Profit 8,821.17M 10,450.69M 13,801.18M 10,102.53M 8,057.65M
Operating income 5,185.48M 6,188.81M 8,957.22M 5,916.85M 4,363.43M
Income before tax 6,221.19M 6,081.88M 7,351.36M 2,542.70M 3,918.67M
Net income 3,641.56M 3,429.08M 4,367.29M 1,523.65M 2,188.81M
EBITDA 8,551.70M 10,039.90M 12,313.56M 9,714.36M 7,924.84M
Diluted EPS 0.28 0.26 0.34 0.12 0.17
Dividends Per Share 0.09 0.10 0.10 0.07 0.04
Total Assets 68,591.28M 70,564.69M 71,203.03M 67,416.94M 74,304.03M
Total liabilities 36,487.91M 36,716.15M 37,221.60M 37,821.63M 41,072.73M
Total equity 29,935.35M 31,280.83M 31,314.99M 27,111.85M 30,224.27M
Operating cash flow 7,206.53M 9,583.51M 9,410.53M 10,424.26M 6,741.40M

Valuation Measures

Mar 2021
PER7.90
ROA3.08%
ROE7.62%
Operating margin10.66%
Profit margin5.34%

Key executives

  • Chairman, CEO, MD & Finance Director: Subhash Kumar
  • Chief Financial Officer: Vivek Chandrakant Tongaonkar
  • Director, Director-Technical & Field Services: Om Prakash Singh
  • Secretary & Compliance Officer: Rajni Kant
  • Executive Director & Exploration Director: Rajesh Kumar Srivastava

Shareholders

  • Government of India (60.4%)
  • Life Insurance Corp of India (10.5%)
  • Indian Oil Corp. Ltd. (7.8%)
  • ICICI Prudential Asset Management Co. Ltd. (2.7%)
  • GAIL (India) Ltd. (2.4%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (1.9%)
  • Fidelity Management & Research Co. LLC (1.4%)
  • The Vanguard Group, Inc. (0.7%)
  • SBI Funds Management Pvt Ltd. (0.6%)
  • BlackRock Fund Advisors (0.4%)

Contact Details

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

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Competitors

  • Indian Oil Corp. Ltd.
  • Vedanta Limited
  • Tower Resources plc
  • Likhitha Infrastructure Ltd
  • PetroNeft Resources Plc
Last Updated on 3 Dec, 2021

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