Oil and Natural Gas Corporation Limited Q4 FY’25 Earnings Conference call

  •  ONGC has compiled its financial results for the quarter and financial year ended 31st March 2025
    • ONGC is the highest profit making CPSE
    • Thinking of investing big in this vessel business too, because this is something that is line of business and also continues to be a good profit space
    • The company has earned a profit after tax amounting to INR 35,610 crores during financial year 2025 as against PAT of INR 40,526 crores in financial year 2024, a decrease of INR 4,916 crores, which is about 12.1% down. 
    • Sales revenue for financial year 2025 is INR 137,361 crore against INR 137,774 crores in financial year 2024, partly because of lower per barrel realization of crude oil. 
    • During financial year 2025, operating expenditure increased marginally by INR 753 crores, that is 2.8%, from INR 26,725 crore in financial year 2024 to INR 27,478 crore in financial year 2025.
    • During financial year 2025, there is an increase in exploration cost written off (survey and dry well) costs by INR 4,257 crore from INR 5,569 crore in financial year 2024 to INR 9,826 crore in financial year 2025. 
    • The company at a consolidated level has earned profit after tax of INR 38,326 crore during financial year 2025 as against INR 55,272 crore during financial year 2024. 
      • This is a decrease of about 30.7%...in absolute terms, INR 16,976 crores. 
      • This decrease is mainly due to decline in profit of subsidiaries HPCL, MRPL and OPaL.
        • OPaL turnaround will benefit most to ONGC
      • At the consolidated level, gross revenue has increased by 1.5% from INR 653,171 crores in financial year 2024 to INR 663,262 crores in financial year 2025.
    • Major wells charged as dry during the financial year 2025 were at Western Offshore Basin, INR 1,152 crores at KG Basin, INR 1,808 crore at Kaveri Basin, INR 779 crore and at Assam Arakkan Basin, INR 359 crore. 
    • During the year, ONGC declared total 9 discoveries in its operated acreages. 8 hydrocarbon discoveries have been monetized during the year. 
    • Reserve replacement ratio (2P) from domestic fields excluding JV share was 1.35. 
    • ONGC has achieved reserve replacement ratio of more than one for the 19th consecutive year. 
    • During the year, ONGC drilled 578 wells. 
      • This is the highest recorded in the past 35 years, comprising of 109 exploratory wells and 469 development wells. 
    • ONGC invested around INR 62,000 crores in CapEx during the year (including acquisitions). Exploration CapEx of INR 10,300 crores were invested during the year. 
      • This is up about 25% from the previous year.
    • The standalone Crude Oil production during FY’25 was 18.558 MMT with an increase of 0.9% over FY’24. 
    • The standalone natural gas production was 19.654 BCM as against 19.978 BCM in financial year 2024. 
    • To address the production decline in matured and marginal fields, ONGC is proactively enhancing well interventions and accelerating new well drilling initiatives, which includes the recent engagement of technical services provider. 
    • The Board has recommended final dividend of 25% that is INR 1.25 per share. 
      • With a dividend payout ratio of 43.3%, the total dividend for financial year 2025 would be 245% with a total payout of INR 15,411 crore. 
      • This is the highest quantum of dividend paid by ONGC.

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