Oil and Natural Gas Corporation | Business Upturn

Mangalore Refinery and Petrochemicals reports ₹1,931 crore profit after tax for FY 2025-26

Kinjal — Fri, 24 Apr 2026 14:13:46 +0000

Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation Limited, has announced its financial results for the fourth quarter and the full fiscal year ending March 31, 2026. The company reported a significant increase in its profit after tax (PAT) for the fiscal year 2025-26, reaching ₹1,931 crore compared to ₹51 crore in the previous year.

For the fourth quarter of FY 2025-26, MRPL recorded a revenue from operations of ₹28,493 crore, slightly up from ₹27,602 crore in the same quarter of the previous fiscal year. The profit before tax (PBT) for the quarter was ₹1,235 crore, showing a substantial rise from ₹584 crore in the corresponding quarter of FY 2024-25. However, the profit after tax for the quarter was ₹119 crore, a decrease from ₹383 crore in the same period last year.

For the entire fiscal year 2025-26, MRPL’s revenue from operations was ₹1,05,155 crore, compared to ₹1,09,280 crore in the previous fiscal year. The profit before tax for the year was ₹4,022 crore, a significant increase from ₹113 crore in FY 2024-25.

In terms of physical performance, MRPL reported a throughput of 17.00 million metric tonnes (MMT) for the year, compared to 16.18 MMT in the previous year. The company also commissioned 85 new retail outlets during the fiscal year, bringing the total to 252.

MRPL’s Dewangonthit Marketing Terminal is now fully operational, enhancing the company’s reach in the inland market. Additionally, the company was recognised as the FIPI Innovator of the Year (2025) for its sustained excellence in refining innovation and indigenous technological development. The award was presented by Shri Hardeep Singh Puri, the Hon’ble Minister for Petroleum and Natural Gas, during the India Energy Week.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Mangalore Refinery reports ₹1,931 crore profit after tax for FY 2025-26

Kinjal — Fri, 24 Apr 2026 14:12:51 +0000

Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation Limited, has announced its financial results for the fourth quarter and the fiscal year ending 31 March 2026. The company reported significant growth in both quarterly and annual financial performance.

For the fourth quarter of FY 2025-26, MRPL’s revenue from operations stood at ₹28,493 crore, compared to ₹27,602 crore in the same quarter of the previous fiscal year. The profit before tax for the quarter was ₹1,235 crore, a substantial increase from the ₹584 crore reported in the fourth quarter of FY 2024-25. However, the profit after tax for the quarter declined to ₹119 crore from ₹383 crore in the previous year.

On an annual basis, MRPL’s revenue from operations for FY 2025-26 was ₹1,05,155 crore, up from ₹1,09,280 crore in FY 2024-25. The profit before tax for the fiscal year was ₹4,022 crore, a significant rise from ₹113 crore in the previous fiscal year. The profit after tax for FY 2025-26 reached ₹1,931 crore, compared to ₹51 crore in FY 2024-25.

In terms of physical performance, MRPL reported a throughput of 17.00 million metric tonnes (MMT) for the fiscal year, showing a slight increase from the previous year’s 16.18 MMT. The company also highlighted the full operational status of the Devangonthi Marketing Terminal, which enhances its inland market capabilities. Additionally, MRPL commissioned 85 new retail outlets in the fiscal year, bringing the total to 252.

MRPL’s gross refining margin (GRM) for FY 2025-26 was $8.22 per barrel, compared to $4.45 per barrel in the previous fiscal year.

Furthermore, MRPL was honoured as the FIPI Innovator of the Year (2025) for its sustained excellence in refining innovation and indigenous technological development. The award was presented by Shri Hardeep Singh Puri, Hon’ble Minister for Petroleum and Natural Gas, during the India Energy Week.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Deep Industries secures Rs 59 crore contract from Oil and Natural Gas Corporation

Kinjal — Mon, 06 Apr 2026 13:05:04 +0000

Deep Industries has announced a significant business development, having secured a Letter of Award from Oil and Natural Gas Corporation Limited (ONGC). The contract involves the provision of services for Natural Gas Compressor, Gas Dehydration, and Hydrocarbon Dew Point Depression at the Malleswaram site of ONGC’s Rajamundry Asset. This contract is valued at approximately ₹59 crores and is set to span a period of three years.

The award from ONGC underscores Deep Industries‘ capability in delivering critical services in the natural gas sector. The contract is a domestic one, highlighting the company’s strong presence in the Indian market. The services to be provided are crucial for the operations at the Rajamundry Asset, ensuring efficient gas processing and handling.

This development is in line with Deep Industries’ ongoing business operations and does not involve any related party transactions, as confirmed by the company. The award is part of the company’s regular business activities and does not involve any interest from the promoter or promoter group companies in ONGC.

The contract’s execution over the next three years will contribute to Deep Industries’ revenue stream, reinforcing its position in the energy sector. The company’s ability to secure such a contract from a major player like ONGC reflects its expertise and reliability in the industry.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Kinjal and reviewed by Aman Shukla before publication.

ONGC reports fire incident at SHP Platform, Mumbai High

Business Desk — Sat, 04 Apr 2026 02:57:39 +0000

Oil and Natural Gas Corporation (ONGC) experienced a fire incident at its SHP Platform, part of the Mumbai High Asset, on 3 April 2026 at approximately 17:45 PM. The fire was swiftly brought under control and subsequently extinguished. Ten personnel sustained minor injuries and are currently receiving medical care. All affected individuals are reported to be in stable condition. Operations at the platform have since been normalised.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Oil and Natural Gas Corporation achieves gas monetisation milestone in DUDP project

Yash Agarwal — Sun, 29 Mar 2026 16:37:48 +0000

Oil and Natural Gas Corporation (ONGC) has reached a significant milestone in its Daman Upside Development Project (DUDP) by commencing gas monetisation from Platform B-12-24P. Located in the western offshore, approximately 180 kilometres northwest of Mumbai and 80 kilometres south of Pipavav, Gujarat, the project has a capital expenditure of about USD 1 billion.

The gas from the platform has been successfully sent to the Hazira Plant, marking a key achievement for ONGC. The DUDP project, executed in less than two years from the date of award, showcases strong project execution and innovative use of the Drill-Deck. The drilling and production teams have played a crucial role in achieving this milestone.

The commencement of gas monetisation from the DUDP project signifies the beginning of production ramp-up from all wells, which will be carried out in a phased manner. This development is a testament to ONGC’s commitment to enhancing its production capabilities and optimising resource utilisation.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Deep Industries secures Rs 90.70 crore contract from ONGC for workover rig hire

Matrika Shukla — Fri, 03 Jan 2025 12:38:13 +0000

Deep Industries Limited announced today that it has received a Letter of Award from Oil and Natural Gas Corporation Ltd (ONGC) for the charter hiring of a 100MT workover rig for a period of seven years. The total estimated value of this contract is approximately INR 90.70 crores.

The contract, awarded by the domestic energy giant ONGC, will involve Deep Industries providing the workover rig for operations at the Assam Asset, a crucial region for ONGC’s activities. This significant order aligns with the company’s growth strategy and reinforces its position in the energy sector.

The charter agreement is set to be executed over the next seven years, marking a long-term commitment between the two companies. According to Deep Industries, the contract falls within the ordinary course of business and does not involve any related party transactions.

The company has confirmed that there is no promoter or group company involvement in the award, which is being executed at arm’s length.

This new contract is expected to provide a stable revenue stream for Deep Industries and further enhance its offerings to the energy sector.

Nifty 50 top losers this week: Oil And Natural Gas Corporation, Tata Motor and more

Aman Shukla — Sat, 14 Sep 2024 03:47:58 +0000

Indian benchmark indices saw a lower close on Friday, with trade remaining range-bound throughout the day. The Nifty50 closed at 25,356.50, down 32.40, or 0.13%, while the S&P BSE Sensex closed at 82,890.94, down 72, or 0.09%.

This week Oil And Natural Gas Corporation, Tata Motors and HDFC Life Insurance stocks also saw significant declines, putting them among the worst performers. Take a look below at the top 10 losers (as per Trendlyne) of NIFTY 50 this week.

Nifty 50 top losers

Name	LTP	Change(%)	Change(Week%)
Oil And Natural Gas Corporation	291.5	-2.60 (-0.9%)	-5.6%
Tata Motors Ltd.	992.1	5.95 (0.6%)	-5.5%
HDFC Life Insurance	705.4	-9.15 (-1.3%)	-4.5%
Bharat Petroleum Corporation	342.3	-2.00 (-0.6%)	-2.8%
SBI Life Insurance Company	1846.5	-29.45 (-1.6%)	-2.6%
Adani Enterprises Ltd.	2968.4	-22.65 (-0.8%)	-0.2%
Dr. Reddy’s Laboratories	6660.7	-23.15 (-0.4%)	-0.1%

ONGC shares scored 4% high today morning, brokerage firms expect 24% upside

Sarthak Yadav — Mon, 14 Dec 2020 07:31:20 +0000

Today, shares of Oil and Natural Gas Corporation (ONGC) reached a high of 4% in morning trade on Bombay Stock Exchange (BSE) and traded among the top gainers of the Sensex index.

The stock is witnessing considerable attention since COVID-19 vaccine developments and is a sign of hope for a quicker than previously expected recovery in oil demand.

As of the previous session’s close, the stock was up more than 23% on the BSE in the month of December.

Morgan Stanley has upgraded the stock, citing a higher probability of recovery in average selling prices, improved outlook on domestic production and upside in refining associates post closures. As reported by Moneycontrol, the global financial services provider upgraded ONGC stock to ‘overweight’ from ‘equal-weight’ and raised its price target to Rs 115 from Rs 84.

Brokerage firm JM Financial has upgraded its FY22 PAT estimated for ONGC by 30 percent.

JM Financial said, “We upgrade ONGC as tactical buy on rising crude price. ONGC is our preferred play due to its relatively better production growth visibility and higher leverage to crude price. ONGC could also benefit from potential deregulation/hike in domestic gas prices. Hence, we upgrade our target price for ONGC to Rs 120.”

As per the brokerage firm, a Brent linked sharp earnings upgrade and a reduction in P/E valuation discount to the historical average due to improving earnings visibility, Moneycontrol reported.

Shares of ONGC traded 3.20 percent up at Rs 99.90 on BSE at 11:45 hours.

Adani Gas & France’s Total Gas to raise $400 million via sale of bonds to foreign investors

Shalmali Bhagwat — Tue, 03 Nov 2020 15:54:32 +0000

Adani Total Gas, the joint venture between Adani Gas Ltd and a French company, Total Gas Ltd will raise $400 million through the sale of bonds to foreign investors to meet the capital expenditure. Adani Gas noted a record net profit in the July-September quarter (136 crore-13 percent increase in profit against ₹120 crore in the previous period) as market restored to normalcy which was faster than predicted with the economy reinflating on easing of lockdown restrictions.

“Over the next five years, we need around ₹8000 crore to fund our capital expenditure. This is part financing for the same” said Suresh Manglani, CEO of Adani gas, today on the earnings call with media.

Manglani added that Adani gas will be renamed as Adani Total Gas Ltd. to symbolize the joint venture with the French company. Total Gas Ltd had finalized a deal in October to secure a 37.4 percent stake in Adani Gas Ltd for ₹5,000 crore.

The company said, demand for piped natural gas (PNG) and compressed natural gas (CNG) is at 90 percent of the pre-covid levels and it has set up 19 new stations during the quarter, taking the network of CNG stations to a total of 134.

“We are actively pursuing the strategy of expanding PNG and CNG Infrastructure on a fast-track mode. Apart from PNG, we are consistently encouraging society to convert their vehicles to environmental-friendly CNG and contribute to reducing the carbon footprint,” added Manglani.

Adani Gas has lowered CNG and piped cooking gas prices in various geographical areas in tandem with the reduction in natural gas prices. Rates have been reduced in Uttar Pradesh, Haryana and Gujarat, the company disclosed in a statement.

The company’s board also approved altering its main object clause of Memorandum of Association (MOA) by inserting objects to carry on the businesses of bio-gas, bio-fuel, bio-mass, electric vehicle, hydrogen manufacturing of various equipment and provision of value-added services relating to city gas business, Manglani pointed out.

“I anticipate, gas will be one of the key pillars that will enable India to get an energy mix that is cleaner and superior from multiple dimensions. We are committed to becoming a leader in this sector,” Adani Group Chairman, Gautam Adani added.