Oil & Natural Gas Corporation Limited (ONGC) — Board Meeting | 21 May 2025(2 announcements)

ONGC board approved FY'25 results showing net profit of ₹35,610 crore, a 12.1% decline from ₹40,526 crore, with final dividend of 25% (Rs 1.25/share) raising total payout to ₹15,411 crore. Crude oil production rose 0.9% to 18.558 MMT, while consolidated net profit fell 30.7% to ₹38,329 crore. Capex reached ~₹62,000 crore, including ₹10,300 crore exploration spend up 25% YoY. The board highlighted 9 discoveries, 8 monetized, and 578 wells drilled, the highest in 35 years.

ONGC reported a 69.9% YoY jump in net profit to ₹35,610.32 crore for FY 2024-25, driven by strong revenue of ₹148,325.73 crore, while maintaining a healthy debt-equity ratio of 0.03 and current ratio of 1.40. The board recommended a final dividend of ₹1.25 per share and approved a ₹20,000 crore guarantee for ONGC Petro Addition Limited, alongside redemption of ₹5,000 million in unsecured NCDs. Auditor's report confirmed a true and fair view, though highlighted contingent liabilities including ₹13,915 crore from PMT JV arbitration and ₹1,960 crore disputed GST demands. The company also increased its stake in OPaL to 95.69% control and disclosed ₹2,088 crore receivable from excise duty refunds.