- ONGC’s net income for the second quarter was 98.5 billion rupees, meeting estimates but down 18% from the previous year.
- Revenue totaled 330.3 billion rupees, which is a 2.5% decline year-over-year but exceeded the estimate of 323.91 billion rupees.
- Total costs rose slightly by 1.4% to 239.1 billion rupees compared to the previous year.
- The finance cost decreased by 4.3% to 11.1 billion rupees, lower than the estimated 11.68 billion rupees.
- Other income significantly decreased by 28% year-over-year, reaching 34.2 billion rupees.
- The operating margin declined to 41.3%, down from 47.8% in the previous year.
- A dividend of 6 rupees per share was declared.
- ONGC plans to invest INR 4.22 billion in its unit ONGC Green through a rights issue.
- The company intends to invest in two joint ventures with Mitsui O.S.K. Lines.
- Analyst recommendations include 19 buys, 5 holds, and 5 sells.
“`
Oil & Natural Gas Corp on Smartkarma
Analyst coverage of Oil & Natural Gas Corp (ONGC) on Smartkarma showcases a favorable outlook according to a recent report by Ξ±SK. The analysis highlights ONGC’s dominant market position as India’s leading oil and gas producer, contributing significantly to the nation’s energy security by accounting for a substantial share of crude oil and natural gas production. Additionally, the report emphasizes ONGC’s strategic growth initiatives, including plans to diversify into renewable energy, expand its petrochemicals business, and leverage digitalization for enhanced efficiency. Despite recent stock price corrections, ONGC is deemed to have attractive valuation metrics compared to industry peers and historical averages, with a track record of offering substantial dividends to investors.
A look at Oil & Natural Gas Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Oil & Natural Gas Corp, a leading player in the oil and gas industry, boasts strong scores across key factors according to Smartkarma Smart Scores. With top marks in both Value and Dividend categories, the company showcases solid fundamentals for investors seeking stable returns. While scoring slightly lower in Growth and Resilience, the company still maintains a competitive edge in the market. Furthermore, its above-average Momentum score signifies a positive trend that investors can potentially capitalize on.
Specializing in oil and gas exploration, Oil & Natural Gas Corp has a diversified portfolio with joint ventures in various countries including Vietnam, Norway, Egypt, and Australia. Additionally, the company engages in deep sea explorations along the coast of India and ventures into coal bed methane exploration. Overall, with its strong value proposition and consistent dividend payouts, Oil & Natural Gas Corp presents a promising outlook for investors eyeing long-term growth and stability in the energy sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
π‘ Before itβs here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- β Unlimited Research Summaries
- β Personalised Alerts
- β Custom Watchlists
- β Company Analytics and News
- β Events & Webinars
