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Oil and Natural Gas (ONGC) investor relations material
Oil and Natural Gas Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net profit after tax for Q1 FY26 was ₹8,024 crore, down 10.2% year-over-year due to lower crude price realization.
Consolidated profit after tax rose to ₹11,554.21 crore, up 18.2% year-over-year, mainly due to HBCS.
Board approved unaudited standalone and consolidated financial results for Q1 FY26, with review by statutory auditors and audit committee recommendation.
Investment of ₹4,963.06 crore approved for 0.6 GW renewable energy project (300MW solar, 300MW wind) to be completed by 2028, aiming for operational savings and ESG compliance.
Two new discoveries declared: Badriamani (Mumbai offshore) and Suryamani (Mukta formation, Western offshore).
Financial highlights
Crude price realization dropped to $66.13/bbl from $83.05/bbl year-over-year.
Standalone Q1 FY26 revenue from operations: ₹32,002.89 crore (down from ₹35,266.38 crore YoY and ₹34,982.23 crore QoQ).
Consolidated Q1 FY26 revenue from operations: ₹163,108.12 crore (down from ₹168,967.98 crore YoY, down from ₹170,811.73 crore QoQ).
Statutory levies fell 38% year-over-year to ₹6,073 crore, mainly due to abolishment of SAED on crude.
Operating expenses rose to ₹5,577 crore, up from ₹5,182 crore, driven by higher FPSO charges and LNG costs.
Outlook and guidance
KG asset oil production at 30,000+ bbl/day, with gas at 3 MMscmd; ramp-up to 6–7 MMscmd expected by Q4 FY26.
FY26 production guidance: crude oil 19.928 MMT, gas 20.11 BCM; FY27: crude oil 21.21 MMT, gas 21.487 BCM.
Brahman project on track for Q4 FY26 production start.
Renewable energy capacity to increase by 0.6 GW by 2028, supporting operational savings and ESG goals.
OPAL plant running above 90% capacity, targeting 100% utilization.
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