NSE/ONGC

ONGCOil & Natural Gas Corporation Ltd

Oil & Gas · NSE

₹284.05+0.46%

52-wk low52-WEEK RANGE52-wk high

₹221.94+28.0% from low ·-1.6% from high₹288.6

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

ONGC+27.99% · 1Y

Range high ₹293Range low ₹220.26Latest ₹284.05252 bars · daily-close · NSE bhavcopy + 10Y history

Oil & GasOil & Gas IntegratedLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite63/100

Performance

High

Amongst the strong performers in the market.

· 52w return +13.7%
· Trades 12.8% above 200-DMA — uptrend intact

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 9.4 vs sector median 11.9 — 21% cheaper
· P/B 0.97 below sector median 1.43

Growth

Medium

Steady but not standout growth.

· Revenue YoY +0.8% — slow
· Profit YoY +16.2%

Profitability

Low

Profitability is a concern.

· ROE 10.3% — weak returns on equity
· Net margin 5.4% — thin margins

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeA(80/100)

Durability

70/100

Reasonable financial health; watch the weaker inputs.

Show 4 drivers

Piotroski F-score8/9 (89pt)
Altman Z" score1.50 (49pt)
Debt/Equity0.44 (90pt)
ROE10.3% (41pt)

Valuation

A+

93/100

Attractively valued vs peers and growth — good margin of safety.

Show 4 drivers

P/E vs sector (9.4 / 11.9)79% (89pt)
P/B0.97 (100pt)
Dividend yield6.51% (100pt)
EV/EBITDA5.3 (90pt)

Momentum

77/100

Strong, confirmed momentum across price + technicals.

Show 5 drivers

52w change+13.7% (62pt)
DMA-trend alignmentstrong up (100pt)
RSI (14)56.2 (99pt)
Price vs 200-DMA+13.4% (87pt)
MACD regimebearish cross (15pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)9.37

FAIR

CheapestP/E 9.4 near sector median.Most expensive

P/B0.97

UNDERVALUED

CheapestP/B 0.97 at 8th %ile of sector.Most expensive

EV/EBITDA5.31

UNDERVALUED

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Jan +3.82% · Worst: Feb -2.14%

Jan

+3.8%

55% win

Feb

-2.1%

42% win

Mar

-1.7%

50% win

Apr

+3.5%

67% win

May

-0.6%

36% win

Jun

-1.6%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+0.52%

Median

+0.21%

Std dev

8.75%

Best

+25.7%

Worst

-25.7%

% positive

51%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 1

Financial quality score 8/9
Piotroski ≥7 historically associated with outperformance

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 2

Strong uptrend — DMA stack bullish
Price > 20-DMA > 50-DMA > 200-DMA: momentum tailwind intact
Attractive income yield (6.51%)
Payout ratio 41% leaves room for dividend growth

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+0.5%

-0.9%

+7.6%

+22.7%

+16.9%

+25.3%

+22.7%

+19.0%

10Y

+6.5%

Fundamentals

VALUATION

Market cap

₹3,56,462 Cr

P/E (TTM)

9.4

P/E (fwd)

6.9

next 12m

P/B

0.97

EV/EBITDA

5.3

Book value

₹292.59

per share

PROFITABILITY · QUALITY

ROE

10.3%

ROCE

—

Net margin

5.4%

Op margin

9.5%

Gross margin

19.5%

D/E

0.44

GROWTH · MARKET

Rev YoY

+0.8%

Profit YoY

+16.2%

Div yield

6.51%

Payout

40.5%

52w change

+13.7%

Beta

0.19

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 3

+Trading at -21.4% vs sector median P/EP/E 9.4 vs Oil & Gas median 11.9 — relative value on earnings
+Forward P/E materially below trailing (6.9x vs 9.4x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+High dividend yield (6.51%)Meaningful income return even before price appreciation

CONS · 0

No material concerns surface from the ratios alone — still layer qualitative research.

Sector-relative context

Oil & Gas · 12 peers

P/E (TTM)

This stock

9.37

Sector median

11.92

Rank 4/12 (75th %ile)

ROE

This stock

10.3%

Sector median

13.3%

Rank 7/12 (50th %ile)

P/B

This stock

0.97

Sector median

1.43

Rank 1/12 (100th %ile)

Quality score · Piotroski F-score

8 / 9

Strong quality — passes most F-score checks

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.50

Z″ = 1.50 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.086	×6.56	0.563
Retained Earnings / Total Assets (B)	0.051	×3.26	0.166
EBIT / Total Assets (C)	0.104	×6.72	0.701
Book Equity / Total Liabilities (D)	0.066	×1.05	0.069

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

30 analysts · BUY

Target mean

₹305.27

Target high

₹405.00

Target low

₹205.00

Upside vs today

+7.7%

Street consensus target is +7.7% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Oil & Gas Integrated

Employees

24,378

Shares out

1,258

Revenue (TTM)

₹6,55,996 Cr

EBITDA

₹97,461 Cr

Total debt

₹1,76,018 Cr

Cash

₹50,268 Cr

Net debt

₹1,25,750 Cr

Quarterly results

Last 6 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q3	2025-Q4
Revenue	—	1,67,213	1,16,500	1,63,108	1,57,911	1,67,423
Operating profit	—	30,722	-19,012	30,445	32,445	31,538
OPM %	—	18.4%	-16.3%	18.7%	20.6%

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	4,89,301	6,29,510	5,98,644	6,08,951
Operating profit	61,042	67,314	77,045	63,623
OPM %	12.5%	10.7%	12.9%	10.4%
Interest	4,676	7,035	11,742	11,840

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
ONGCTHIS Oil & Natural Gas Corporation Limited	₹284.05	+13.7%	3,56,462	9.4	0.97	10.3%	0.44	+0.8%
RELIANCE Reliance Industries Limited	₹1,365	+5.4%	18,44,882	22.2	2.10	9.5%	0.36	+10.4%
IOC Indian Oil Corporation Limited	₹145.88	+5.2%	2,07,399	5.7	1.03	18.1%	0.73	+5.7%
BPCL Bharat Petroleum Corporation Limited	₹312.1	+2.6%	1,37,118	5.5	1.44	26.2%	0.56	+5.2%
GAIL GAIL (India) Limited	₹157.82	-19.2%	1,03,689	12.1	1.18	9.7%	0.25	-4.5%
HINDPETRO Hindustan Petroleum Corporation Limited	₹370.85	-6.1%	80,751	5.2	1.42	27.1%	1.11	+4.1%
OIL Oil India Limited	₹470.1	+18.8%	76,182	13.1	1.35	—	0.58	-0.1%
PETRONET Petronet LNG Limited	₹273.22	-12.9%	40,739	11.2	1.93	—	0.12	-3.3%
GUJGASLTD Gujarat Gas Limited	₹362.8	-19.4%	25,274	21.8	2.89	13.3%	1.19	+5.1%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	7.10	7.93	+11.7%
-2q	8.27	8.58	+3.8%
-3q	8.36	7.80	-6.6%
-4q	8.53	5.90	-30.8%

Date	Amount
2026-02-18	₹6.25
2025-11-14	₹6.00
2025-09-04	₹1.25
2025-02-07	₹5.00
2024-11-19	₹6.00
2024-08-23	₹2.50
2024-02-16	₹4.00
2023-11-21	₹5.75
2023-08-18	₹0.50
2023-02-24	₹4.00
2022-11-21	₹6.75
2022-08-18	₹3.25
2022-02-21	₹1.75
2021-11-22	₹5.50
2021-09-08	₹1.85
2021-02-17	₹1.75
2020-03-23	₹5.00
2019-08-22	₹0.75
2019-03-26	₹1.00
2019-02-28	₹5.25

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	6,290	6,290	6,290	6,290
Reserves	29,735	29,341	38,069	29,880
Borrowings	1,21,986	1,76,744	1,91,195	1,87,817
Other liabilities	-17	1,250	506	600
Total liabilities	5,85,390	6,42,774	7,41,998	7,58,723
Fixed assets	3,48,555	3,75,904	4,22,642	4,39,944
CWIP	31,611	29,337	25,803	23,752
Investments	7,993	8,800	50,286	43,523
Other assets	5,177	3,839	267	249
Total assets	5,85,390	6,42,774	7,41,998	7,58,723

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	78,248	86,062	98,847	90,868
CF Investing	-41,330	-75,095	-57,485	-43,022
CF Financing	-35,790	-12,876	-45,009	-47,908
Net cash flow	1,261	-1,504	-3,586	59
Free cash flow	33,722	35,132	46,728	35,192

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	10.4%	12.9%	10.7%	12.5%
Net margin %	5.9%	8.2%	5.8%	9.3%
ROE %	90.0%	122.9%	102.5%	126.4%
ROCE %	28.0%	38.1%	28.0%	37.2%
Debt / Equity	5.19	4.31	4.96	3.39
Dividend payout %	47%	26%	48%	25%
Interest coverage	5.4×	7.3×	7.4×	12.6×
Revenue growth YoY	+1.7%	-4.9%	+28.7%	—
Profit growth YoY	-26.3%	+33.9%	-19.4%	—

ONGCOil & Natural Gas Corporation Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Oil & Gas

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Recent news

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Technical snapshot

Earnings history + surprises

Dividends + splits history

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Stock scorecard

Ratios

Recent news

Peer comparison · Oil & Gas