Oil and Natural Gas Corporation (ONGC) has announced its financial results for the fourth quarter and full fiscal year 2026, revealing a significant increase in profits and dividends. The company reported a consolidated net profit of ₹13,678 crore for Q4 FY’26, marking a 53% increase from the previous year. For the entire fiscal year, the consolidated net profit stood at ₹49,793 crore, up by 30% compared to FY’25.
In terms of standalone performance, ONGC posted a net profit of ₹6,650 crore for Q4 FY’26, and ₹32,894 crore for the full year. The company’s subsidiaries, including HPCL, MRPL, OVL, and OPaL, contributed to this improved performance.
The Board of Directors has recommended a final dividend of 20% (₹1 per share), subject to shareholder approval at the upcoming AGM. This brings the total dividend for FY’26 to 265% (₹13.25 per share), amounting to a record payout of ₹16,669 crore.
ONGC’s Western Offshore operations saw significant developments, with projects worth ₹33,075 crore currently underway. The company also reported that new well gas production constituted 17% of its total production and 21% of its revenue from the ONGC nomination gas portfolio.
The company is making strides in exploration, with the launch of PROJECT DeepX to accelerate deep water exploration. During FY’26, ONGC drilled four exploratory wells in the ultradeep waters of the Andaman Basin and acquired substantial seismic data in the Mahanadi Basin.
Additionally, ONGC announced three hydrocarbon discoveries in its operated acreages during FY’26, all located in the shallow waters of the Mumbai offshore region.
ONGC Videsh Ltd, the overseas arm of ONGC, reported a production of 9.671 MMTOE in FY’26, slightly down from 10.278 MMTOE in FY’25, due to geopolitical issues and production cessation in certain regions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).