ONGC Share Price Target – ONGC Limited is a prominent player in the oil and gas exploration, development, and production industry. What sets ONGC apart is its comprehensive in-house service capabilities across the entire oil and gas value chain, including related oil-field services.
With reserves and production levels that are second only to its wholly-owned subsidiary and overseas arm, ONGC is the second-largest petroleum company in India.
If you are an expert looking to invest in ONGC Ltd shares for the long term, it is crucial to analyze the potential opportunities and obstacles that may impact the company’s stock performance in the years ahead. Our ONGC Ltd Share Price target is based on a deep technical analysis and past performance of the company to help you make an informed decision.
Before investing in ONGC Ltd stock, it is essential to understand the company’s business model and financial data thoroughly. Once you have a clear understanding of ONGC Ltd’s operations and financial strength, you can determine whether the stock is a good buy or not.
Our ONGC Ltd Share Price Forecast provides a detailed analysis of the stock’s potential growth and performance for the years 2024, 2025, 2030, and 2040. This analysis can help you make an informed investment decision.
Contents
- 1 About ONGC?
- 2 Financial Data of ONGC
- 3 ONGC Balance Sheet or Financials
- 4 ONGC Share Price Chart
- 5 What are the PROs and CONs of investing in ONGC Ltd?
- 6 ONGC Share Price Target 2024-2050
- 6.1 ONGC Share Price Target 2024
- 6.2 ONGC Share Price Target 2025
- 6.3 ONGC Share Price Target 2026
- 6.4 ONGC Share Price Target 2027
- 6.5 ONGC Share Price Target 2028
- 6.6 ONGC Share Price Target 2029
- 6.7 ONGC Share Price Target 2030
- 6.8 ONGC Share Price Target 2040
- 6.9 ONGC Share Price Target 2050
- 6.10 ONGC Share Price Target 2060
- 7 Who are the competitors of ONGC Ltd?
- 8 Video related to ONGC Share Price Target
- 9 Conclusion
- 10 ONGC Share Price Target FAQs
- 11 Disclaimer
About ONGC?
What is ONGC – Oil and Natural Gas Corporation (ONGC) is a central public sector undertaking based in India. It is owned by the Ministry of Petroleum and Natural Gas, Government of India and is primarily engaged in the exploration, development, and production of oil and gas. The company’s headquarters are located in Delhi, and it was established on August 14, 1956, by the Government of India.
The company operates through two distinct segments –
- Exploration and Production, and
- Refining and Marketing.
ONGC’s unique distinction lies in its in-house service capabilities in all areas of oil and gas exploration and production, as well as related oil-field services.
ONGC is the second-largest petroleum company in India in terms of reserves and production, second only to its wholly-owned subsidiary and overseas arm, ONGC Videsh. The latter owns participating interests in 32 oil and gas assets located across 15 countries. In the fiscal year 2021-22, ONGC Videsh registered a production worth 12.330 million metric tonnes of oil equivalent (MMTOE) from its overseas assets.
Overall, ONGC remains a key player in the oil and gas industry in India, with a reputation for technical expertise and a commitment to excellence in all areas of its operations.
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Financial Data of ONGC
| Stock Name | Oil and Natural Gas Corporation Ltd |
| Sector | Gas & Petroleum |
| Industry | Oil Drilling & Exploration |
| Open | 267.00 |
| Previous Close | 265.25 |
| Volume | 9,530,738 |
| Value (Lacs) | 25,756.82 |
| i VWAP | 268.85 |
| Beta | 1.20 |
| Mkt Cap (Rs. Cr.) | 339,982 |
| High | 271.20 |
| Low | 264.45 |
| UC Limit | 291.75 |
| LC Limit | 238.75 |
| 52 Week High | 292.95 |
| 52 Week Low | 146.50 |
| Face Value | 5 |
| All Time High | 471.85 |
| All Time Low | 15.69 |
| 20D Avg Volume | 22,220,077 |
| 20D Avg Delivery(%) | — |
| Book Value Per Share | 162.52 |
| Dividend Yield | 4.16 |
| TTM EPS | 32.68(-2.75% YoY) |
| TTM PE | 8.27(High PE) |
| P/B | 1.66(High P/B) |
| Sector PE | 9.52 |
| Official Website | ONGC Ltd. |
ONGC Balance Sheet or Financials
Ratios
| ANNUAL | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Return on Equity (%) | 12.62 | 17.54 | 7.35 | 5.26 | 13.97 |
| Return on Capital Employed (%) | 12.24 | 13.19 | 7.91 | 8.97 | 16.02 |
| Return on Assets (%) | 5.76 | 7.77 | 2.99 | 2.11 | 6.15 |
| Interest Coverage Ratio (x) | 11.07 | 15.47 | 6.55 | 4.61 | 10.07 |
| Asset Turnover Ratio (x) | 0.30 | 0.25 | 55.95 | 77.79 | 85.00 |
| Price to Earnings (x) | 5.36 | 4.53 | 7.91 | 7.96 | 6.58 |
| Price to Book (x) | 0.68 | 0.79 | 0.58 | 0.42 | 0.92 |
| EV/EBITDA (x) | 3.56 | 3.76 | 4.30 | 3.25 | 3.81 |
| EBITDA Margin (%) | 13.81 | 17.93 | 19.33 | 15.42 | 19.64 |
Income P&L
| ANNUAL | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Total Revenue | 6,40,400.05 | 4,98,707.43 | 3,13,324.00 | 4,05,839.59 | 4,29,534.05 |
| Total Revenue Growth (%) | 28.41 | 59.17 | -22.80 | -5.52 | 30.09 |
| Total Expenses | 5,89,245.41 | 4,43,975.34 | 2,85,152.49 | 3,78,781.81 | 3,76,604.16 |
| Total Expenses Growth (%) | 32.72 | 55.70 | -24.72 | 0.58 | 28.13 |
| Profit after Tax (PAT) | 35,440.48 | 45,522.11 | 16,248.69 | 10,803.60 | 30,494.96 |
| PAT Growth (%) | -22.15 | 180.16 | 50.40 | -64.57 | 37.95 |
| Operating Profit Margin (%) | 9.33 | 12.30 | 10.93 | 8.70 | 13.94 |
| Net Profit Margin (%) | 5.60 | 9.26 | 5.34 | 2.72 | 7.23 |
| Basic EPS (₹) | 28.17 | 36.19 | 12.92 | 8.59 | 23.81 |
All figures in Rs Cr, unless mentioned otherwise
Balance Sheet
| ANNUAL | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Total Assets | 6,14,528.73 | 5,85,449.32 | 5,43,264.61 | 5,10,017.61 | 4,95,702.05 |
| Total Assets Growth (%) | 4.97 | 7.77 | 6.52 | 2.89 | 7.71 |
| Total Liabilities | 3,13,273.69 | 3,02,121.48 | 3,00,667.83 | 2,86,507.27 | 2,59,455.08 |
| Total Liabilities Growth (%) | 3.69 | 0.48 | 4.94 | 10.43 | 7.83 |
| Total Equity | 3,01,255.04 | 2,83,327.84 | 2,42,596.79 | 2,23,510.34 | 2,36,246.97 |
| Total Equity Growth (%) | 6.33 | 16.79 | 8.54 | -5.39 | 7.57 |
| Current Ratio (x) | 0.86 | 0.83 | 0.76 | 0.65 | 0.70 |
| Total Debt to Equity (x) | 0.46 | 0.42 | 0.50 | 0.51 | 0.47 |
| Contingent Liabilities | 1,33,738.26 | 1,55,100.23 | 1,48,981.63 | 1,40,562.45 | 1,84,190.15 |
All figures in Rs Cr, unless mentioned otherwise
Cash Flow
| ANNUAL | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Net Cash flow from Operating Activities | 84,211.33 | 78,000.04 | 47,201.39 | 70,592.98 | 61,248.46 |
| Net Cash used in Investing Activities | -73,209.00 | -40,477.29 | -39,089.77 | -53,498.31 | -34,167.44 |
| Net Cash flow from Financing Activities | -12,916.35 | -35,979.08 | -8,257.81 | -16,726.36 | -25,995.87 |
| Net Cash Flow | -1,503.98 | 1,676.15 | -195.44 | 707.57 | 1,285.23 |
| Closing Cash & Cash Equivalent | 1,225.34 | 3,144.38 | 1,468.23 | 1,663.67 | 1,239.86 |
| Closing Cash & Cash Equivalent Growth (%) | -61.03 | 114.16 | -11.75 | 34.18 | -2,832.72 |
| Total Debt/ CFO (x) | 1.53 | 1.38 | 2.33 | 1.48 | 1.67 |
All figures in Rs Cr, unless mentioned otherwise.
What are the PROs and CONs of investing in ONGC Ltd?
Following are the PROs and CONs of investing in ONGC Ltd –
PROs of investing in ONGC Ltd | CONs of investing in ONGC Ltd |
| Trading Below Book Value – The stock of ONGC is presently being traded at about 1.12 times its book value. This indicates that the stock could be undervalued, thereby making it a compelling choice for value investors. | Dependency on Oil Prices – ONGC’s financial success depends on global oil prices. Low oil prices for an extended period could negatively affect ONGC’s income and profitability. |
| Dividend Yield – ONGC offers an attractive dividend yield of approximately 4.06%, which may be appealing to investors seeking regular income through dividends. | Aging Fields and Reservoirs – ONGC has some fields which are getting old, resulting in a decrease in production. To revive these fields, considerable investment and technological upgrades are necessary. |
| Historical Contribution to Indian Domestic Production – ONGC has discovered 8 out of 9 producing basins in India, contributing significantly to the country’s oil and gas production for over 60 years. | Environmental Concerns – The environmental impact of the oil and gas industry is receiving more scrutiny. ONGC must maintain a balance between production and environmental conservation efforts. |
| Energy Sector Stature – ONGC is India’s largest crude oil and natural gas company. Its size and established existence can bring assurance to investors. | Low Return on Equity (ROE) – ONGC’s ROE of 13.9% over the last 3 years is relatively low. Investors may prefer higher ROE as a sign of better profitability. |
| Government Backing – Government ownership of ONGC provides stability and reassurance for investors concerned about corporate governance and financial stability. | Market Volatility –ONGC’s profits and share price may fluctuate due to market volatility in energy-related sectors. |
| Strategic Importance – ONGC plays a crucial role in India’s energy security and self-sufficiency, contributing significantly to the nation’s economic growth. | Geopolitical and Economic Risk – ONGC is exposed to political and economic risks in India, which may be impacted by changes in government policies or global economic conditions. |
| Diverse Portfolio – ONGC has diversified its operations beyond oil and gas exploration and is now involved in petrochemicals, refining, and renewable energy projects. | Complexity and Understanding – Understanding ONGC’s financials, operations, and industry can be challenging for investors due to its size and complexity. |
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| Year | Min Target Price | Max Target Price |
| 2024 | 265.36 | 310.23 |
| 2025 | 325.50 | 382.35 |
| 2026 | 346.56 | 368.70 |
| 2027 | 378.90 | 398.20 |
| 2028 | 380.58 | 432.80 |
| 2029 | 422.10 | 489.25 |
| 2030 | 485.10 | 605.52 |
| 2040 | 1203.10 | 1318.54 |
| 2050 | 2195.58 | 3290.85 |
| 2060 | will update | will update |
- Min Target Price: ₹265.36
- Max Target Price: ₹310.23
- Min Target Price: ₹325.50
- Max Target Price: ₹382.35
- Min Target Price: ₹346.56
- Max Target Price: ₹368.70
- Min Target Price: ₹378.90
- Max Target Price: ₹398.20
- Min Target Price: ₹380.58
- Max Target Price: ₹432.80
- Min Target Price: ₹422.10
- Max Target Price: ₹489.25
- Min Target Price: ₹485.10
- Max Target Price: ₹605.52
- Min Target Price: ₹1203.10
- Max Target Price: ₹1318.54
- Min Target Price: ₹2195.58
- Max Target Price: ₹3290.85
Will update
Who are the competitors of ONGC Ltd?
Below are the list of ONGC competitors –
- BPCL (Bharat Petroleum Corporation Limited)
- IndianOil (Indian Oil Corporation Limited)
- GAIL India (Gas Authority of India Limited)
- Reliance Industries
- HPCL (Hindustan Petroleum Corporation Limited)
- Essar – Many a times some of the activities of Essar group overlaps with the ONGS’s operations.
- Tata Group – Tata group is a diversified conglomerate with interests in multiple sectors, including energy.
- Pertamina
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Conclusion
We, at priceforecaster, provide fundamental and technical analysis of companies like ONGC Ltd. Our team of experts conducts thorough research and analysis to provide you with accurate and reliable information, based on recent trading data and algorithms that can aid in making informed investment decisions. These predictions can serve as potential support and resistance levels for the stock in the coming years.
As for ONGC, the company operates in the oil and natural gas exploration and development sector. The sector is expected to see an increase in demand, which can lead to a rise in ONGC’s share price in the future. Based on our analysis, we believe that ONGC’s Share Price Target may reach a very high position.
It’s important to keep in mind that while these price targets are based on technical analysis, there are other market conditions and news that could also impact the stock’s performance.
Hence, these target predictions should be used merely as guidelines and not as financial advice. It’s crucial to conduct your own due diligence before making any investment decisions.
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Also, do your due diligence and comment to us, whether you will invest in this stock or not. Till then Happy Investing.
As of 12th May the share price of ONGC Ltd is – Rs. 270.25
What is the market cap of ONGC Ltd?
As of 12th May the market cap of ONGC Ltd is – Rs. 339,982 (crore)
Is ONGC is a profitable company?
ONGC reported a net profit of ₹40,305 crore in the fiscal year ended March 31, driven by the best-ever price earned on produced crude oil. It became India’s second most profitable company behind Reliance Industries Ltd.
The surge in international oil prices and an increase in gas sales contributed significantly to its profitability. However, investing involves risks, so it’s essential to consider various factors before making any investment decisions.
ONGC Stock Ownership?
ONGC is a government-owned corporation, and its ownership structure is a reflection of this fact. The following are the essential details regarding the stock ownership of ONGC –
- Promoter Holding – ONGC is a company in which the Indian government holds a significant stake. As of March 31, 2024, the government’s promoter holding remains unchanged at 58.89%. This ensures stability and strategic importance for the company due to its substantial ownership.
- Other Shareholders – Apart from the government, other institutional and retail investors also hold shares in ONGC. The shareholding pattern includes Domestic Institutional Investors (DIIs) and Foreign Institutional Investors (FIIs).
- Public Listing – In February 1994, ONGC turned into a publicly listed company. During the initial public offering, 20% of its equity was offered to the public, while the remaining 80% was held back by the Indian government.
Is ONGC provides dividends?
Disclaimer
This article contains information that may be useful for those interested in the stock market. However, it is important to note that Investing in the stock market can be a risky venture and is heavily influenced by market conditions. It is important to conduct thorough research and analysis before making any investment decisions.
This article has been created for educational purposes only and does not constitute investment advice. We would like to clarify that we are not registered advisors with SEBI (Stock exchange board of India) and we do not provide tips or calls regarding specific investments.
It is always recommended to seek guidance from a qualified financial advisor to ensure that your investment decisions align with your financial goals and risk tolerance. Stay tuned with thepriceforecaster.com.
