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.
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
Contents
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 Name | ONGC |
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Listed at | NSE & BSE |
Head Office | Plot No. 5A- 5B Nelson Mandela Road, Vasant Kunj, New Delhi, 110070 |
Board Of Directors |
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Official Website | ongcindia.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
- OPaL (ONGC Petro-additions limited)
- OTPC (ONGC Tripura Power Company ltd)
- TBL (ONGC TERI Biotech Ltd)
- IGGL ( Indradhanush Gas Grid Ltd)
- 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/E | 7.27 |
Book Value | ₹ 246 |
Dividend Yield | 4.23% |
ROCE | 13.9% |
ROE | 14.1% |
Face Value | ₹ 5.00 |
Debt to Equity | 0.46 |
Debt Capacity | 0.54 |
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 Percentage | 0.00% |
Free Cash Flow (Prev Ann) | ₹ 45,158 Cr. |
EV/EBITDA | 3.89 |
Industry PE | 16.7 |
PEG Ratio | 0.62 |
Piotroski Score | 6.00 |
Earnings Yield | 19.0% |
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ONGC Quarterly Results
Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 145,673 | 155,949 | 182,894 | 168,656 | 169,213 | 164,067 | 163,824 | 146,874 | 165,569 |
Expenses | 124,306 | 131,900 | 164,041 | 155,311 | 147,346 | 144,593 | 133,717 | 118,618 | 145,545 |
Operating Profit | 21,367 | 24,049 | 18,853 | 13,346 | 21,867 | 19,474 | 30,107 | 28,255 | 20,024 |
OPM % | 15% | 15% | 10% | 8% | 13% | 12% | 18% | 19% | 12% |
Other Income | 2,882 | 607 | 1,619 | 2,315 | 2,807 | -4,783 | 3,069 | 3,233 | 4,130 |
Interest | 1,388 | 1,491 | 1,640 | 1,993 | 2,188 | 2,068 | 2,364 | 2,603 | 2,544 |
Depreciation | 6,850 | 7,380 | 6,611 | 4,443 | 6,784 | 6,719 | 7,072 | 6,698 | 7,094 |
Profit before tax | 16,011 | 15,784 | 12,221 | 9,224 | 15,702 | 5,904 | 23,740 | 22,187 | 14,516 |
Tax % | 27% | 24% | 30% | 26% | 26% | 3% | 27% | 25% | 26% |
Net Profit | 11,637 | 12,061 | 8,581 | 6,830 | 11,665 | 5,701 | 17,383 | 16,553 | 10,748 |
EPS in Rs | 8.69 | 8.39 | 9.49 | 6.60 | 9.13 | 2.95 | 11.23 | 10.92 | 8.23 |
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CAGR Report
Metric | 10 Years | 5 Years | 3 Years | TTM | Last Year |
---|---|---|---|---|---|
Compounded Sales Growth | 15% | 14% | 17% | -5% | – |
Compounded Profit Growth | 5% | 12% | 37% | 17% | – |
Stock Price CAGR | 1% | 11% | 34% | – | 63% |
Return on Equity | 12% | 13% | 14% | – | 14% |
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Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 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 Shareholders | 6,29,625 | 6,29,224 | 6,29,594 | 8,67,077 | 11,61,502 | 13,62,794 | 15,48,726 | 17,90,074 |
Year | Share Price Target 1 | Share 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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Months | Target Prices |
January | 338 |
February | 330 |
March | 328 |
April | 331 |
May | 335 |
June | 333 |
July | 336 |
August | 337 |
September | 332 |
October | 335 |
November | 337 |
December | 341 |
Months | Target Prices |
January | 344 |
February | 339 |
March | 334 |
April | 342 |
May | 344 |
June | 347 |
July | 355 |
August | 338 |
September | 362 |
October | 367 |
November | 370 |
December | 373 |
Months | Target Prices |
January | 380 |
February | 377 |
March | 370 |
April | 372 |
May | 375 |
June | 377 |
July | 380 |
August | 383 |
September | 387 |
October | 389 |
November | 396 |
December | 403 |
Months | Target Prices |
January | 411 |
February | 400 |
March | 390 |
April | 399 |
May | 409 |
June | 419 |
July | 422 |
August | 425 |
September | 427 |
October | 430 |
November | 428 |
December | 432 |
Months | Target Prices |
January | 435 |
February | 427 |
March | 422 |
April | 450 |
May | 453 |
June | 457 |
July | 460 |
August | 456 |
September | 450 |
October | 455 |
November | 460 |
December | 464 |
Months | Target Prices |
January | 470 |
February | 463 |
March | 454 |
April | 462 |
May | 469 |
June | 472 |
July | 480 |
August | 482 |
September | 485 |
October | 490 |
November | 495 |
December | 500 |
Official Address – ongcindia.com