Oil And Natural Gas Corporation, incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 185307.51 Crore) operating in Gas & Petroleum sector.
Oil And Natural Gas Corporation Ltd. key Products/Revenue Segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, C2/C3 (Ethane/Propane), Butane, Other Operating Revenue, Aviation Turbine Fuel (ATF), HSD, Superior Kerosene Oil, LSHS, Mineral Turpentine Oil (MTO), Others for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mrs.Pomila Jaspal, Dr.Prabhaskar Rai, Mrs.Reena Jaitly, Mr.Manish Pareek, Mr.V Ajit Kumar Raju, Mr.Syamchand Ghosh, Mr.G Srinivas, Mr.Pankaj Kumar, Mr.Anurag Sharma, Mr.Om Prakash Singh, Mr.Rajesh Kumar Srivastava, Dr.Alka Mittal, Dr.Madhav Singh. Company has Kalani & Co. as its auditors. As on 30-09-2022, the company has a total of 1,258 Crore shares outstanding.
Investment Rationale
The brokerage maintains a buy call on the counter given the strong dividend play (of 7-8%) and also because CMP is discounting only ~USD 50/bbl net crude realisation, while various changes in windfall tax suggest the government is fine with ONGC making net crude realisation of ~USD 75/bbl.
Promoter/FII Holdings
Promoters held 58.89 per cent stake in the company as of 30-Sep-2022, while FIIs owned 9.97 per cent, DIIs 18.52 per cent.
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