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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.
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Q1 25/26 earnings summary13 Aug, 2025

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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Frequently asked questions

Oil and Natural Gas Corporation Limited explores for, develops, and produces crude oil and natural gas in India. It operates through Oil and Gas Exploration; Crude Oil and Natural Gas Production; Marketing, Transportation, Storage, and Exports; Exploration Services; Manufacturing and Engineering Services; Network Operations; Corporate Development; International Business Development; and Corporate functions segments. Oil and Natural Gas Corporation Limited is headquartered in New Delhi, India.

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