Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 9 Oct - CARE reaffirmed ONGC ratings: AAA/Stable and A1+ for ₹42,500 crore facilities and instruments.
Source: Bse
Oil & Natural Gas Corporation Limited (ONGC)
Large CapEnergy stocks · Large cap · NSE
Oil & Natural Gas Corp Ltd (ONGC) is an Indian listed company. The provided document is a header for its earnings call transcript, but contains no specific business or operational details.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result16 Aug, 12:55 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Energy P/E 11.4 (n=18)
Technical timing lens
Trend score and candlestick chart
28Bearishfull bear SMA stack · SMA20 -3.1% / mo · MACD + · near 52W low · sector -3.5pp vs Nifty 500 (3M)
Stock trend: 26
Sector RS: 31
Sector 3M: -9.1% vs Nifty 500 -5.6%
Energy FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ONGCD candles · FIT view-21.0%Latest close ₹225.00 on 2026-10-19
Bar
+0.9%
RSI
45
MACD hist
0.23
52W pos
7%
2026-10-19O ₹223.00H ₹226.25L ₹223.00C ₹225.00Vol 52.6L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ONGCNifty EnergyNifty 500
- ONGC
- -9.8%
- Nifty 500
- -5.6%
- Nifty Energy
- -9.3%
- Vs Nifty 500
- -4.3 pp
Chart stats
19 Oct 2026- From 52W high
- -26.8%
- 52W range position
- 7%
- ATR (14)
- 1.8%
- Volume vs 20D
- 0.51x
- Avg traded value
- ₹229 Cr
- 20D price channel
- ₹218.5 - ₹239
₹307.5
₹218.5 - ₹307.5
₹4.1
Latest completed session
20-session average
18.6% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE75
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +25.7% · PAT -43.3% YoY
Technical
Bearish28
Price trend and sector-relative-strength timing.
Valuation
Legacy model+62.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence78
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -43% YoY · margin compression · Rev +26% YoY · +18% QoQ
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,04,987 Cr | +25.7% | +17.9% |
| EBITDA | ₹15,485 Cr | -39.9% | -38.9% |
| Operating margin | 8.0% | -800 bps | -700 bps |
| PAT | ₹6,554 Cr | -43.3% | -52.1% |
| PAT margin | 3.2% | -388 bps | -467 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 6.48
- P/B
- 0.76
- EV/EBITDA
- 3.52
- Market Cap
- 283436.00Cr
Profitability
- ROE
- 11.60%
- ROCE
- 14.20%
- ROA
- 5.70%
- Dividend Y
- 5.89%
Growth (CAGR)
- Revenue 5Y
- 15.00%
- EPS 5Y
- 21.00%
- Revenue 3Y
- -1.00%
- EPS 3Y
- 1.00%
Balance Sheet
- Debt/Equity
- 0.47
- Interest Coverage
- 7.39×
- Altman Z
- 2.52
- Book Value
- 296.00
Cash Flow
- FCF Yield
- 19.51%
- FCF Positive Y
- 11/5
- OCF
- 112719.00 Cr
- EPS TTM
- 34.59
Shareholding
- Promoter Hold
- 58.89%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 8%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 608.7k-0.6% vs prev
Net Profit
₹ CrLatest: 49.8k+29.9% vs prev
Return on Equity
%Latest: 13.4+20.0% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 45. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~3.3% over last month) — short-term momentum negative.
- RSI(14) at 45 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
35
RS percentile
Stage 4 Downtrend
1M return
-3.4%
3M return
-9.8%
6M return
-20.7%
1Y return
-10.2%
RS 1D
+4
RS 20D
+4
Sector rank
#6
Industry rank
#7
Stage evidence
- Price is 11.9% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.4%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 97.41+2.40%
RS vs Nifty 50097
Valuation & peers
U-Score 75 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 75 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation30/30
Growth17/25
Quality2/20
Balance Sheet10/15
Cash Flow10/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
75
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
75/100 · legacy band DEEP VALUE
Positive drivers
- FCF yield is supportive at 19.5%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 62.0%.
Main drags
- Quality is weaker at 2/20; verify the latest quarterly trend.
- Balance sheet is weaker at 10/15; verify the latest quarterly trend.
- Growth is weaker at 17/25; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
6.5
PB
0.8
EV/EBITDA
3.5
ROE
11.6%
ROCE
14.2%
FCF Yield
19.5%
Debt/Equity
0.5
MoS
+62.0%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 6.5, so peak-cycle earnings risk should be checked.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
75
Previous: 75
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+62.0%
Previous: +62.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
75
75
75
75
75
75
75
75
75
75
75
75
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹479.97
+53.1% MoS
Growth-justified P/E
17.1
Growth-justified Value
₹591.49
+62.0% MoS
PEG
0.50
Comparable companies
Peers
Business-comparable peers in Energy — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ANTELOPUS
Small
Antelopus Selan Energy Limited
Oil & Gas
match 71
56
27.8
15.0%
-2%
FAIR VALUE
HINDOILEXP
Small
Hindustan Oil Exploration Company Limited
Oil & Gas
match 68
29
86.8
2.1%
-1391%
OVERVALUED
GAIL
Large
GAIL (India) Limited
Oil & Gas
match 65
46
11.1
8.7%
-2%
FAIR VALUE
AEGISVOPAK
Large
Aegis Vopak Terminals Limited
Oil & Gas
match 57
26
115.0
11.0%
-430%
OVERVALUED
ATGL
Mid
Adani Total Gas Limited
Oil & Gas
match 57
36
101.0
14.4%
-508%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-03T15:39:40.674Z
Management commentary snapshot
No financial or operational results are available in the provided document, which is a transcript header.
The provided document is a transcript header and contains no financial or operational data to form or assess an investment thesis for ONGC. Without any disclosed information, monitoring is not possible.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
No financial or operational data is available in the provided document to determine a relevant comparison basis.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
78Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 86th percentile of the scored universe and 74th percentile within Energy. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
33 docs text-extracted · 12 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
86th percentile
overall median 67 · Energy: 74th pctile, median 73 · Large: 70th pctile, median 73
Evidence depth
Financial-only
33 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
72
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 58.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 19.5%.
- ▸11 years of positive FCF.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Oil & Natural Gas Corporation Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 21 Sep - ONGC struck gas in Mahanadi deepwater well MN-DW18-1-H-D on 18 September 2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 21 Sep - Bhaskar Chowdary Nettem appointed Director (Production) effective 21 Sep 2026 until superannuation or further orders.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 8 Sep - C&AG appointed four statutory/joint statutory auditors for ONGC for FY 2026-27.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Company Ir
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 18 Aug - ONGC commissioned Khoraghat gas evacuation facilities on 18 Aug 2026, enabling 1 lakh SCM/day to NEGG.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Aug - Newspaper Publications: Addendum to Notice of 33rd Annual General Meeting
Source: Bse
Concall transcript
Announcement under Regulation 30 (LODR)-Earnings Call Transcript 12 Aug - Transcript of Conference Call held with Investors on 05.08.2026
Source: Bse
Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug - Newspaper Publication for dispatch of Notice and Integrated Annual Report
Source: Bse
Annual report
Business Responsibility and Sustainability Reporting (BRSR) 7 Aug - ONGC attached its FY26 Business Responsibility and Sustainability Report with the integrated annual report.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Jun - Newspaper clippings of Postal Ballot Notice and Remote E-voting
Source: Bse
Concall transcript
Announcement under Regulation 30 (LODR)-Earnings Call Transcript 4 Jun
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.