ONGC Posts Strong FY25 Results, Expands Green Energy Footprint

Oil and Natural Gas Corporation Limited (ONGC), India’s largest oil and gas producer, today announced robust performance in FY 2024–25 with steady growth in production, strong financials, and a clear roadmap for green energy expansion.

Performance Highlights

• ONGC reversed the declining trend in crude oil production, reporting a ~1% increase in standalone output.

• Natural gas production decline slowed significantly.

• The company made 9 discoveries during the year, including 7 prospects and 2 pool discoveries, with 4 in OALP blocks.

• A record 578 wells were drilled, the highest ever in ONGC’s history.

• ONGC also launched an ultra-deepwater campaign in the Andaman Basin and began maiden drilling in the Ganga Basin.

Financials

• Standalone revenue: ₹1,37,846 crore

• Standalone profit after tax (PAT): ₹35,610 crore

• Dividend: ₹12.25 per share

• Consolidated revenue: ₹6,75,656 crore

• Consolidated PAT: ₹38,329 crore

• Debt-to-equity ratio improved to 0.41, reflecting a stronger balance sheet.

In FY25, ONGC contributed ₹69,263 crore to the exchequer (Central: ₹55,598 crore; States: ₹13,665 crore). Since inception, the company has contributed over ₹13.35 lakh crore through taxes, dividends, and subsidies.

Strategic Expansion

Green push: Through ONGC Green Ltd., the company acquired PTC Energy Ltd. (288 MW wind assets) and, via JV with NTPC Green, acquired Ayana Renewables (4.1 GW RE assets). ONGC has set a 10 GW renewable energy target by 2030 and committed to Net Zero (Scope 1 & 2) by 2038.

Integration: ONGC Petro Additions Ltd. (OPaL) was inducted as ONGC’s sixth subsidiary with an equity infusion of ₹18,365 crore.

Projects: 21 major projects under execution are expected to add ~77.5 MMToE production.

CSR & ESG

CSR spend stood at ₹929 crore, supporting healthcare, education, women empowerment, and sustainability.

ONGC has implemented 15 CDM (Clean Development Mechanism) projects and reduced carbon intensity at 3% CAGR over the past decade.

Global Footprint

ONGC Videsh Limited (OVL) continues operations across 19 countries, producing 10.28 MMToE in FY25. Key projects in Colombia, South Sudan, Myanmar, and Azerbaijan reported steady growth.

Arun Kumar Singh, CMD of ONGC said: “FY25 has been a year of resilience and growth. We not only reversed the decline in crude output but also made significant strides in green energy. ONGC is committed to ensuring India’s energy security while leading the transition to sustainable energy.”

About ONGC

Oil and Natural Gas Corporation Limited (ONGC) contributes over 63% of India’s domestic oil & gas production and has a strong global presence through OVL and subsidiaries like HPCL, MRPL, OPaL, and ONGC Green Ltd.