Oil & Natural Gas Corpn Ltd

₹ 203 0.49%

05 Dec 10:35 a.m.

About

ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production

Key Points

History^[1] ONGC was established in 1956 by the Government of India for oil exploration. With 60+ years of oil exploration, ONGC has discovered 8 out of 9 producing basins of India: 1958 at Gujarat, 1963 at Assam, 1967 at Rajasthan, 1974 at Mumbai, 1980 at Krishna Godavari, 1985 at Cauvery, 2019 at Bengal & 2022 at Vindhyan.

Website BSE NSE

Market Cap ₹ 2,55,443 Cr.
Current Price ₹ 203
High / Low ₹ 206 / 139
Stock P/E 5.46
Book Value ₹ 246
Dividend Yield 5.52 %
ROCE 13.9 %
ROE 14.1 %
Face Value ₹ 5.00

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Pros

Stock is trading at 0.82 times its book value
Stock is providing a good dividend yield of 5.57%.
Company has been maintaining a healthy dividend payout of 32.2%

Cons

Company has a low return on equity of 13.9% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Crude Oil & Natural Gas Industry: Oil Drilling / Allied Services

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	83,619	100,289	114,124	108,105	122,066	145,673	155,949	182,894	168,656	169,213	164,067	163,824	146,874
	69,750	89,009	98,639	91,822	104,270	124,306	131,900	164,041	155,311	147,342	144,593	133,717	118,618
Operating Profit	13,869	11,279	15,485	16,283	17,796	21,367	24,049	18,853	13,346	21,871	19,474	30,107	28,255
OPM %	17%	11%	14%	15%	15%	15%	15%	10%	8%	13%	12%	18%	19%
	1,371	2,379	6,883	1,775	1,913	2,882	607	1,619	2,315	2,804	-4,783	3,069	3,233
Interest	1,179	1,158	1,116	1,440	1,377	1,388	1,491	1,640	1,993	2,188	2,068	2,364	2,603
Depreciation	5,624	6,495	7,572	6,423	6,230	6,850	7,380	6,611	4,443	6,784	6,719	7,072	6,698
Profit before tax	8,438	6,006	13,681	10,194	12,102	16,011	15,784	12,221	9,224	15,702	5,904	23,740	22,187
Tax %	33%	39%	20%	33%	-55%	27%	24%	30%	26%	26%	3%	27%	25%
	5,675	3,637	10,963	6,847	18,749	11,637	12,061	8,581	6,830	11,665	5,701	17,383	16,553
EPS in Rs	3.35	2.00	7.52	4.76	14.35	8.69	8.39	9.49	6.60	9.13	2.95	11.23	10.92
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	140,147	161,984	174,121	160,923	124,036	282,506	322,706	421,624	396,728	303,849	491,246	632,291	643,977
	94,797	118,482	124,991	118,610	84,901	229,702	265,817	346,805	344,623	254,375	411,373	556,764	544,270
Operating Profit	45,350	43,501	49,130	42,312	39,135	52,804	56,889	74,819	52,105	49,473	79,874	75,527	99,707
OPM %	32%	27%	28%	26%	32%	19%	18%	18%	13%	16%	16%	12%	15%
	11,075	5,488	7,170	5,955	1,067	12,724	10,429	9,567	982	11,271	6,797	-30	4,323
Interest	435	484	624	2,864	3,766	3,591	4,999	5,837	7,489	5,079	5,696	7,889	9,224
Depreciation	13,187	11,763	16,262	18,033	16,384	20,219	23,112	23,704	26,635	25,538	26,883	24,557	27,274
Profit before tax	42,804	36,742	39,413	27,370	20,052	41,718	39,208	54,846	18,962	30,126	54,091	43,051	67,532
Tax %	34%	35%	32%	35%	35%	30%	34%	38%	40%	29%	9%	24%
	28,428	23,994	26,665	17,703	13,102	29,169	26,068	33,938	11,456	21,360	49,294	32,778	51,303
EPS in Rs	21.93	18.87	20.65	14.29	10.03	19.03	17.23	24.28	8.59	12.96	36.19	28.17	34.23
Dividend Payout %	30%	34%	31%	44%	56%	40%	38%	29%	58%	28%	29%	40%

Compounded Sales Growth
10 Years:	15%
5 Years:	14%
3 Years:	17%
TTM:	-1%

Compounded Profit Growth
10 Years:	5%
5 Years:	12%
3 Years:	37%
TTM:	22%

Stock Price CAGR
10 Years:	0%
5 Years:	8%
3 Years:	31%
1 Year:	41%

Return on Equity
10 Years:	12%
5 Years:	13%
3 Years:	14%
Last Year:	14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	4,278	4,278	4,278	4,278	4,278	6,417	6,417	6,290	6,290	6,290	6,290	6,290	6,290
Reserves	132,161	148,250	167,874	176,177	193,536	187,969	197,602	210,644	198,814	214,691	253,213	274,357	303,337
	15,973	20,686	49,113	53,944	45,500	80,029	106,550	107,742	129,473	133,187	121,986	142,255	143,496
	79,771	80,211	103,711	103,448	98,459	170,111	148,664	167,667	173,787	187,580	201,771	190,212	215,958
Total Liabilities	232,183	253,424	324,976	337,847	341,772	444,525	459,232	492,343	508,364	541,748	583,260	613,115	669,082
	38,542	49,104	64,655	88,928	46,385	81,510	82,970	86,011	103,848	104,466	111,050	119,836	308,050
CWIP	49,698	53,385	72,034	63,393	57,668	59,042	61,512	69,056	83,832	100,309	106,719	113,945	78,464
Investments	2,921	2,128	4,746	4,749	33,387	70,746	67,335	66,909	56,755	60,320	66,642	78,873	81,470
	141,022	148,807	183,541	180,776	204,332	233,227	247,416	270,367	263,929	276,653	298,848	300,461	201,097
Total Assets	232,183	253,424	324,976	337,847	341,772	444,525	459,232	492,343	508,364	541,748	583,260	613,115	669,082

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	46,129	39,874	53,270	33,950	46,292	45,780	56,792	61,458	70,593	47,185	78,248	84,211
	-38,375	-41,220	-63,633	-30,058	-38,256	-43,815	-66,798	-37,132	-53,159	-39,141	-41,197	-72,799
	102	-6,927	15,225	-10,641	-8,972	-1,867	9,909	-23,324	-16,726	-8,239	-35,790	-12,916
Net Cash Flow	7,856	-8,273	4,862	-6,749	-935	99	-97	1,001	708	-195	1,261	-1,504

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	31	35	34	43	25	16	16	13	8	19	14	11
Inventory Days	108	80	79	65	105	65	56	48	46	85	90	61
Days Payable	139	112	155	175	290	51	48	41	31	51	66	46
Cash Conversion Cycle	-0	3	-43	-67	-161	30	24	21	23	54	39	27
Working Capital Days	-19	-1	-29	-18	-46	-57	-9	-2	-20	3	-6	-9
ROCE %	29%	23%	20%	13%	13%	17%	14%	19%	10%	9%	16%	14%

Shareholding Pattern

Numbers in percentages

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	60.41%	60.41%	60.41%	60.41%	60.41%	58.91%	58.89%	58.89%	58.89%	58.89%	58.89%	58.89%
	7.67%	8.08%	8.06%	8.08%	8.87%	9.91%	9.97%	8.96%	8.43%	7.97%	8.11%	8.38%
	17.71%	17.48%	17.60%	17.87%	17.19%	16.36%	17.83%	18.53%	19.27%	19.87%	19.84%	19.58%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.30%	10.30%	10.30%	10.30%	10.30%
	14.21%	14.03%	13.93%	13.64%	13.53%	14.82%	13.31%	3.32%	3.10%	2.94%	2.87%	2.83%
No. of Shareholders	11,50,366	11,61,502	12,01,708	11,77,182	13,38,160	13,62,794	14,69,273	16,58,804	15,82,153	15,48,726	15,23,406	15,13,383

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
	68.07%	67.72%	64.25%	60.41%	60.41%	58.91%	58.89%	58.89%
	6.29%	5.47%	6.47%	7.62%	8.08%	9.91%	7.97%	8.38%
	11.96%	13.25%	15.73%	17.87%	17.48%	16.36%	19.87%	19.58%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.30%	10.30%
	13.68%	13.57%	13.55%	14.10%	14.03%	14.82%	2.94%	2.83%
No. of Shareholders	6,29,625	6,29,224	6,29,594	8,67,077	11,61,502	13,62,794	15,48,726	15,13,383

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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May 2017

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