Oil & Natural Gas Corporation Ltd (ONGC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.56%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 8.0%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 11.6%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹226.58

200-Day DMA ● Overlay

₹210.15

14-Day RSI ● Overlay

54 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹2.80 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

6.4x

Price / EPS

Book Value (₹) Assets

₹296.0

P/B: 0.8x

ROE (%) Quality

11.6%

Net Profit / Equity

ROCE (%) Efficiency

14.2%

EBIT / Capital

Dividend Yield Yield

5.96%

Face Value: ₹10

Debt / Equity Solvency

0.47x

Manageable

EPS (TTM) Per Share

₹34.75

Trailing 12M

OPM (%) Spread

13.0%

EBITDA Margin

Free Cash Flow Cash

₹72,219 Cr

CFO - Capex

About Oil & Natural Gas Corporation Ltd

Oil and Natural Gas Corporation Ltd (ONGC) is a leading Indian enterprise operating in the Energy & Oil sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 9.4% × Turnover: 0.85x × Leverage: 1.47x = ROE: 11.6%

✓ Company Strengths (Pros)

• Stock is trading at an attractive price-to-book multiple of 0.8x.
• Trading at an attractive valuation with a conservative P/E of 6.4x.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹7.04 Lakh Cr

Latest PAT

₹44,793 Cr

EPS (TTM)

₹34.75

OPM %

13.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹1.64 Lakh Cr	₹1.48 Lakh Cr	₹1.67 Lakh Cr	₹1.72 Lakh Cr	₹1.69 Lakh Cr	₹1.59 Lakh Cr	₹1.67 Lakh Cr	₹1.68 Lakh Cr	₹1.63 Lakh Cr	₹1.58 Lakh Cr	₹1.67 Lakh Cr	₹1.74 Lakh Cr	₹2.05 Lakh Cr
Operating Profit (EBITDA)	₹30,795 Cr	₹28,080 Cr	₹20,360 Cr	₹23,224 Cr	₹21,785 Cr	₹20,574 Cr	₹24,354 Cr	₹21,766 Cr	₹25,770 Cr	₹26,521 Cr	₹25,335 Cr	₹25,352 Cr	₹15,485 Cr
OPM %	19.0%	19.0%	12.0%	13.0%	13.0%	13.0%	15.0%	13.0%	16.0%	17.0%	15.0%	15.0%	8.0%
Interest Expense	₹2,364 Cr	₹3,243 Cr	₹3,203 Cr	₹3,608 Cr	₹3,694 Cr	₹3,827 Cr	₹3,750 Cr	₹3,264 Cr	₹3,341 Cr	₹3,411 Cr	₹3,207 Cr	₹3,070 Cr	₹2,854 Cr
Depreciation	₹7,078 Cr	₹7,079 Cr	₹7,494 Cr	₹8,420 Cr	₹8,501 Cr	₹8,254 Cr	₹9,539 Cr	₹8,912 Cr	₹9,384 Cr	₹9,273 Cr	₹9,388 Cr	₹9,345 Cr	₹9,477 Cr
Profit before Tax (PBT)	₹24,422 Cr	₹21,431 Cr	₹13,962 Cr	₹14,570 Cr	₹13,125 Cr	₹12,655 Cr	₹13,480 Cr	₹13,137 Cr	₹15,509 Cr	₹17,284 Cr	₹16,190 Cr	₹18,640 Cr	₹7,012 Cr
Net Profit (PAT)	₹17,893 Cr	₹16,171 Cr	₹10,511 Cr	₹11,096 Cr	₹9,776 Cr	₹9,841 Cr	₹9,747 Cr	₹8,965 Cr	₹11,554 Cr	₹12,615 Cr	₹11,946 Cr	₹13,678 Cr	₹6,554 Cr
EPS in ₹	₹11.64	₹10.89	₹8.51	₹7.97	₹7.93	₹8.14	₹6.82	₹5.91	₹7.79	₹8.57	₹7.96	₹8.60	₹9.46

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹1.61 Lakh Cr	₹1.24 Lakh Cr	₹2.83 Lakh Cr	₹3.23 Lakh Cr	₹4.22 Lakh Cr	₹3.97 Lakh Cr	₹3.04 Lakh Cr	₹4.91 Lakh Cr	₹6.32 Lakh Cr	₹6.02 Lakh Cr	₹6.12 Lakh Cr	₹6.09 Lakh Cr	₹7.04 Lakh Cr
Expenses	₹1.19 Lakh Cr	₹84,901 Cr	₹2.30 Lakh Cr	₹2.66 Lakh Cr	₹3.47 Lakh Cr	₹3.45 Lakh Cr	₹2.54 Lakh Cr	₹4.11 Lakh Cr	₹5.57 Lakh Cr	₹4.99 Lakh Cr	₹5.23 Lakh Cr	₹5.06 Lakh Cr	₹6.11 Lakh Cr
Operating Profit	₹42,312 Cr	₹39,135 Cr	₹52,804 Cr	₹56,889 Cr	₹74,819 Cr	₹52,105 Cr	₹49,473 Cr	₹79,874 Cr	₹75,527 Cr	₹1.02 Lakh Cr	₹88,857 Cr	₹1.03 Lakh Cr	₹92,694 Cr
OPM %	26%	32%	19%	18%	18%	13%	16%	16%	12%	17%	15%	17%	13%
Interest	₹2,864 Cr	₹3,766 Cr	₹3,591 Cr	₹4,999 Cr	₹5,837 Cr	₹7,489 Cr	₹5,079 Cr	₹5,696 Cr	₹7,889 Cr	₹13,026 Cr	₹14,535 Cr	₹13,029 Cr	₹12,541 Cr
Depreciation	₹18,033 Cr	₹16,384 Cr	₹20,219 Cr	₹23,112 Cr	₹23,704 Cr	₹26,635 Cr	₹25,538 Cr	₹26,883 Cr	₹24,557 Cr	₹30,440 Cr	₹35,206 Cr	₹37,391 Cr	₹37,484 Cr
Profit before Tax	₹27,370 Cr	₹20,052 Cr	₹41,718 Cr	₹39,208 Cr	₹54,846 Cr	₹18,962 Cr	₹30,126 Cr	₹54,091 Cr	₹43,051 Cr	₹73,629 Cr	₹52,398 Cr	₹67,623 Cr	₹59,127 Cr
Net Profit	₹17,703 Cr	₹13,102 Cr	₹29,169 Cr	₹26,068 Cr	₹33,938 Cr	₹11,456 Cr	₹21,360 Cr	₹49,294 Cr	₹32,778 Cr	₹55,273 Cr	₹38,329 Cr	₹49,793 Cr	₹44,793 Cr
EPS in Rs	14.29	10.03	19.03	17.23	24.28	8.59	12.96	36.19	28.17	39.06	28.80	32.93	34.59

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹4,278 Cr	₹4,278 Cr	₹6,417 Cr	₹6,417 Cr	₹6,290 Cr	₹6,290 Cr	₹6,290 Cr	₹6,290 Cr	₹6,290 Cr	₹6,290 Cr	₹6,290 Cr	₹6,290 Cr
Reserves & Surplus	₹1.76 Lakh Cr	₹1.94 Lakh Cr	₹1.88 Lakh Cr	₹1.98 Lakh Cr	₹2.11 Lakh Cr	₹1.99 Lakh Cr	₹2.15 Lakh Cr	₹2.53 Lakh Cr	₹2.74 Lakh Cr	₹3.33 Lakh Cr	₹3.37 Lakh Cr	₹3.65 Lakh Cr
Borrowings (Debt)	₹53,944 Cr	₹45,500 Cr	₹80,029 Cr	₹1.07 Lakh Cr	₹1.08 Lakh Cr	₹1.29 Lakh Cr	₹1.33 Lakh Cr	₹1.22 Lakh Cr	₹1.42 Lakh Cr	₹1.91 Lakh Cr	₹1.88 Lakh Cr	₹1.74 Lakh Cr
Total Liabilities	₹3.38 Lakh Cr	₹3.42 Lakh Cr	₹4.45 Lakh Cr	₹4.59 Lakh Cr	₹4.92 Lakh Cr	₹5.08 Lakh Cr	₹5.42 Lakh Cr	₹5.83 Lakh Cr	₹6.13 Lakh Cr	₹7.37 Lakh Cr	₹7.53 Lakh Cr	₹7.86 Lakh Cr
Fixed Assets	₹1.80 Lakh Cr	₹1.66 Lakh Cr	₹2.11 Lakh Cr	₹2.26 Lakh Cr	₹2.30 Lakh Cr	₹2.44 Lakh Cr	₹2.44 Lakh Cr	₹2.54 Lakh Cr	₹2.51 Lakh Cr	₹3.17 Lakh Cr	₹3.40 Lakh Cr	₹3.46 Lakh Cr
Total Assets	₹3.38 Lakh Cr	₹3.42 Lakh Cr	₹4.45 Lakh Cr	₹4.59 Lakh Cr	₹4.92 Lakh Cr	₹5.08 Lakh Cr	₹5.42 Lakh Cr	₹5.83 Lakh Cr	₹6.13 Lakh Cr	₹7.37 Lakh Cr	₹7.53 Lakh Cr	₹7.86 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹33,950 Cr	₹46,292 Cr	₹45,780 Cr	₹56,792 Cr	₹61,458 Cr	₹70,593 Cr	₹47,185 Cr	₹78,248 Cr	₹84,211 Cr	₹98,847 Cr	₹90,856 Cr	₹1.13 Lakh Cr
Cash from Investing (CFI)	-₹30,058 Cr	-₹38,256 Cr	-₹43,815 Cr	-₹66,798 Cr	-₹37,132 Cr	-₹53,159 Cr	-₹39,141 Cr	-₹41,197 Cr	-₹72,799 Cr	-₹57,423 Cr	-₹42,879 Cr	-₹57,419 Cr
Cash from Financing (CFF)	-₹10,641 Cr	-₹8,972 Cr	-₹1,867 Cr	₹9,909 Cr	-₹23,324 Cr	-₹16,726 Cr	-₹8,239 Cr	-₹35,790 Cr	-₹12,916 Cr	-₹45,009 Cr	-₹47,908 Cr	-₹56,331 Cr
Free Cash Flow (FCF)	₹17,053 Cr	₹31,199 Cr	₹25,445 Cr	₹29,061 Cr	₹35,697 Cr	₹28,735 Cr	₹15,147 Cr	₹45,158 Cr	₹47,758 Cr	₹60,965 Cr	₹50,143 Cr	₹72,219 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	43	25	16	16	13	8	19	14	11	12	13	13
Inventory Days	65	105	65	56	48	46	85	90	61	87	99	119
Cash Conversion Cycle (Days)	-67	-161	30	24	21	23	54	39	27	38	47	48
ROCE %	13%	13%	17%	14%	19%	10%	9%	16%	14%	18%	12%	14%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹530.73 • Undervalued (Margin of Safety)

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹234.80

DCF Fair Value

₹530.73

Graham Number

₹481.08

Margin of Safety

+116.5%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹530.73

Undervalued (Margin of Safety) (Margin: +116.5%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹516	₹512	₹507	₹503
10%	₹526	₹521	₹517	₹512
12%	₹536	₹531	₹526	₹521
14%	₹545	₹540	₹535	₹531

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹531	Undervalued
Benjamin Graham Number	₹481	Margin of Safety
Historical Sector P/E	₹765	Discounted
EV / EBITDA Multiplier	₹247	In-Line
Free Cash Flow Yield Model	₹230	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 6/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

6 / 9 Pass

Altman Z-Score

3.48 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.47x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 13.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

58.89%

FIIs (Foreign)

8.01%

DIIs (Domestic)

19.31%

Government

0.15%

Public / Retail

3.50%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%
+ FIIs (Foreign Portfolio)	8.38%	9.20%	8.88%	8.57%	8.12%	7.53%	7.11%	7.08%	6.98%	7.43%	7.97%	8.01%
+ DIIs (Mutual Funds / Insurance)	19.58%	18.73%	18.88%	18.75%	19.04%	19.40%	19.93%	19.85%	19.96%	19.69%	19.30%	19.31%
+ Public (Retail & HNIs)	2.83%	2.89%	3.05%	3.50%	3.65%	3.88%	3.76%	3.88%	3.87%	3.69%	3.54%	3.50%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Energy & Oil.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

ONGC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

ONGC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

ONGC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹300.54

Accelerated market share capture in Energy & Oil, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹262.98

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 6x P/E.

🐻 Bear Case (15%) -12.0%

₹206.62

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Energy & Oil)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:38 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Oil & Natural Gas Corporation Ltd (ONGC)	Target Stock	₹234.80	+0.56%	6.4x	11.6%	14.2%	0.47	₹2.80 Lakh Cr
Indian Oil Corporation Ltd (IOC)	Petroleum Refining & Pipelines	₹148.38	+1.04%	5.5x	20.5%	18.7%	0.60	₹1.85 Lakh Cr
Bharat Petroleum Corporation Ltd (BPCL)	Refining & Fuel Retail	₹315.25	-0.24%	8.4x	28.8%	25.6%	0.54	₹1.30 Lakh Cr
GAIL (India) Ltd (GAIL)	Natural Gas Transmission & Marketing	₹189.90	+1.01%	12.0x	9.6%	10.7%	0.29	₹1.13 Lakh Cr
Adani Total Gas Ltd (ATGL)	Sector Peer	₹581.30	+1.10%	101.0x	14.4%	15.3%	0.46	₹64,146 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:38:11 IST	✓ Live Sync
Financial Statements (10Y)	Oil & Natural Gas Corporation Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Oil & Natural Gas Corporation Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Oil & Natural Gas Corporation Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Energy & Oil)

Metric Explainer

Stock DNA Methodology

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