ONGC Share Price Target 2024-2030 Fundamentals & Quarterly Results

ONGC Share Price Target 2024 2025 2026 2027 2028 2029 2030 Fundamentals & Quarterly Results – ONGC is India’s largest company producing crude oil and natural gas making roughly seventy-one per cent of the total production in the country. The Oil and Natural Gas Corporation ltd has been on the stock exchanges for the last ten years, but its shares are not in high demand though they had registered a growth last year they have been on a downward trend in the recent past.ONGC Share Price Target

Latest Update – With a 15% decline in net profit, state-owned ONGC reported Rs 8,938 crore in standalone net profit during the first quarter ending June 2024. A year ago, it was Rs 10,527 crore.

ONGC Overview

The Government of India established ONGC in 1956 to explore for oil. ONGC has been exploring for oil for more than 60 years, and it has discovered 8 out of 9 active basins in India: i.e 1958 in Gujarat, 1963 in Assam, 1967 in Rajasthan, 1974 on Mumbai offshore Maharashtra coast, 1980 in Krishna Godavari, 1985 in Cauvery, 2019 in Bengal and 2022 in Vindhyan.

Company NameONGC
Listed atNSE & BSE
Head OfficePlot No. 5A- 5B Nelson Mandela Road, Vasant Kunj, New Delhi, 110070
Board Of Directors
  • Arun Kumar Singh – Chairman
  • Rajni Kant – Company Secretary
  • Arun Kumar Singh – Director
  • Om Prakash Singh – Executive Director
  • Sushma Rawat – Executive Director
  • Manish Patil – Executive Director
  • Sanjay Kumar Singh – Executive Director
  • Rohit Madan – Executive Director
  • R S Narayani – Executive Director
  • Yogesh Bahukhandi – Executive Director
  • Ajay Kumar Singh – Executive Director
  • Amit Kumar – Executive Director
  • K N Ramesh – Executive Director
  • Anupam Saxena – Executive Director
  • Santanu Das – Executive Director
  • Praveen Mal Khanooja – Government Nominee Director
  • Pomila Jaspal – Executive Director Finance
  • Pankaj Kumar -Executive Director – Production
  • Syamchand Ghosh – Non Executive Independent Director
  • V Ajit Kumar Raju – Non Executive Independent Director
  • Manish Pareek- Non Executive Independent Director
  • Reena Jaitly- Non Executive Independent Director
  • Prabhaskar Rai- Non Executive Independent Director
  • Madhav Singh- Non Executive Independent Director
Official Websiteongcindia.com

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ONGC Business Profile

In India, the largest crude oil and natural gas company is ONGC. It contributes around 71% towards domestic Indian production and at the same time it is the most profitable PSU in India.

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ONGC Group companies

ONGC Videsh: In charge of the operations globally.
HPCL (Hindustan Petroleum Corporation Limited): India’s second-biggest company for selling oil, which has 18,600 outlets.
MRPL (Mangalore Refinery and Petrochemicals Limited)
PMHBL (Petronet MHB Limited): Engaged in moving petro products from MRPL to different parts of Karnataka.

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Joint ventures

  1. OPaL (ONGC Petro-additions limited)
  2. OTPC (ONGC Tripura Power Company ltd)
  3. TBL (ONGC TERI Biotech Ltd)
  4. IGGL ( Indradhanush Gas Grid Ltd)
  5. MSEZ (Mangalore Special Economic Zone)

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Production data

In FY21 there were 22.816 bcm (billion cubic meters) of natural gas and 22.533 mmt (million metric tons) of oil extracted by ExxonMobile. Together these totaled 45.350 MMTOE (Million Metric Tonnes of Equivalent Oil), of the same amount as the 3120 Kt (added value products) extracted.

In FY21, ONGC drilled 480 wells, compared to the usual 500 wells in the past five years. The pandemic led to a decrease in the number of drilled wells. From the total wells drilled (480), 100 were exploration wells while 380 were development wells, including sidetrack wells. Also, the company was able to finalize/complete two ultra-deepwater wells.

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International Operations

ONGC Videsh is a subsidiary with 100 percentage ownnership that handles international exploration and production activities. The company has interests in 37 oil and gas projects in 17 countries outside India including Azerbaijan (2 projects), Bangladesh (2 Projects), Brazil (2 projects), Colombia (7 projects).

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ONGC Fundamentals & Quarterly Results

Market Cap₹ 3,33,881 Cr.
Current Price₹ 265
High / Low₹ 293 / ₹ 150
Stock P/E7.27
Book Value₹ 246
Dividend Yield4.23%
ROCE13.9%
ROE14.1%
Face Value₹ 5.00
Debt to Equity0.46
Debt Capacity0.54
Debt (preceding year)₹ 1,21,986 Cr.
Current Debt₹ 1,43,496 Cr.
Reserves₹ 3,03,337 Cr.
EPS₹ 33.3
EPS (last year)₹ 28.2
Pledged Percentage0.00%
Free Cash Flow (Prev Ann)₹ 45,158 Cr.
EV/EBITDA3.89
Industry PE16.7
PEG Ratio0.62
Piotroski Score6.00
Earnings Yield19.0%

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ONGC Quarterly Results

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Revenue145,673155,949182,894168,656169,213164,067163,824146,874165,569
Expenses124,306131,900164,041155,311147,346144,593133,717118,618145,545
Operating Profit21,36724,04918,85313,34621,86719,47430,10728,25520,024
OPM %15%15%10%8%13%12%18%19%12%
Other Income2,8826071,6192,3152,807-4,7833,0693,2334,130
Interest1,3881,4911,6401,9932,1882,0682,3642,6032,544
Depreciation6,8507,3806,6114,4436,7846,7197,0726,6987,094
Profit before tax16,01115,78412,2219,22415,7025,90423,74022,18714,516
Tax %27%24%30%26%26%3%27%25%26%
Net Profit11,63712,0618,5816,83011,6655,70117,38316,55310,748
EPS in Rs8.698.399.496.609.132.9511.2310.928.23

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CAGR Report

Metric10 Years5 Years3 YearsTTMLast Year
Compounded Sales Growth15%14%17%-5%
Compounded Profit Growth5%12%37%17%
Stock Price CAGR1%11%34%63%
Return on Equity12%13%14%14%

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ONGC Shareholding Pattern

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Promoter Holding (%)68.07%67.72%64.25%60.41%60.41%58.91%58.89%58.89%
FII Holding (%)6.29%5.47%6.47%7.62%8.08%9.91%7.97%8.88%
DII Holding (%)11.96%13.25%15.73%17.87%17.48%16.36%19.87%18.88%
Public Holding (%)0.00%0.00%0.00%0.00%0.00%0.00%10.30%10.30%
Others Holding (%)13.68%13.57%13.55%14.10%14.03%14.82%2.94%3.05%
No. of Shareholders6,29,6256,29,2246,29,5948,67,07711,61,50213,62,79415,48,72617,90,074

ONGC Share Price Target 2024-2030 Forecast

YearShare Price Target 1Share Price Target 2
2024₹311₹332
2025₹341₹366
2026₹373₹401
2027₹403₹444
2028₹434₹486
2029₹464₹519
2030₹495₹556

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ONGC Share Price Target 2025

Months        Target Prices
January338
February330
March328
April331
May335
June333
July336
August337
September332
October335
November337
December341

ONGC Share Price Target 2026

Months        Target Prices
January344
February339
March334
April342
May344
June347
July355
August338
September362
October367
November370
December373

ONGC Share Price Target 2027

Months        Target Prices
January380
February377
March370
April372
May375
June377
July380
August383
September387
October389
November396
December403

ONGC Share Price Target 2028

Months        Target Prices
January411
February400
March390
April399
May409
June419
July422
August425
September427
October430
November428
December432

ONGC Share Price Target 2029

Months        Target Prices
January435
February427
March422
April450
May453
June457
July460
August456
September450
October455
November460
December464

ONGC Share Price Target 2030

Months        Target Prices
January470
February463
March454
April462
May469
June472
July480
August482
September485
October490
November495
December500

Official Address – ongcindia.com

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