|
Consolidated net sales (including other
operating income) of Oil & Natural Gas Corpn has increased 1.68% to Rs
166576.75 crore. Sales of Offshore
segment has gone up 4.81% to Rs 24,187.24 crore (accounting for 13.01% of total
sales). Sales of Onshore segment has
gone up 3.07% to Rs 10,996.45 crore (accounting for 5.91% of total sales). Sales of Refining & Marketing segment
rose 2.95% to Rs 1,48,315.39 crore (accounting for 79.75% of total sales). Sales of Outside India segment has gone up
4.89% to Rs 2,483.53 crore (accounting for 1.34% of total sales). Inter-segment sales rose Rs 16,393.97 crore
to Rs 19,443.78 crore.
Profit before interest, tax and other
unallocable items (PBIT) has slumped 39.62% to Rs 15,078.29 crore. PBIT of Offshore segment fell 8.90% to Rs
10,656.03 crore (accounting for 70.67% of total PBIT). PBIT of Onshore segment fell 23.48% to Rs
1,835.65 crore (accounting for 12.17% of total PBIT). PBIT of Refining & Marketing segment fell
86.23% to Rs 1,446.86 crore (accounting for 9.60% of total PBIT). PBIT of Outside India segment rose 209.82% to
Rs 1,139.75 crore (accounting for 7.56% of total PBIT).
PBIT margin of Offshore segment fell from
50.69% to 44.06%. PBIT margin of Onshore
segment fell from 22.48% to 16.69%. PBIT
margin of Refining & Marketing segment fell from 7.29% to 0.98%. PBIT margin of Outside India segment rose
from 15.54% to 45.89%. Overall PBIT
margin fell from 13.86% to 8.11%.
Operating profit margin has declined from
18.80% to 13.08%, leading to 29.23% decline in operating profit to Rs 21,794.27
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 25.82% to 29.08%. Purchase of finished goods cost rose from 34.69%
to 36.31%. Employee cost decreased from
1.13% to 1.05%. Other expenses rose
from 19.16% to 20.40%. Selling and
administration expenses rose from 11.84% to 12.82%. Provisions writeoffs cost rose from 0.72% to
1.01%. Other provisions rose from 0.72%
to 1.01%.
Other income rose 17.38% to Rs 2985.51
crore. PBIDT fell 25.67% to Rs 24779.78
crore. Provision for interest rose
24.30% to Rs 2938.36 crore.
PBDT fell 29.49% to Rs 21841.42 crore. Provision for depreciation rose 14.09% to Rs
8075.47 crore.
Profit before tax down 42.39% to Rs 13,765.95
crore. Share of profit/loss was 59.09%
lower at Rs 215.06 crore. Provision for
tax was expense of Rs 3745.37 crore, compared to Rs 6528.54 crore. Effective tax rate was 26.79% compared to
26.73%.
Minority interest decreased 90.79% to Rs
299.19 crore. Net profit attributable to
owners of the company decreased 32.15% to Rs 9,936.45 crore.
Crude oil production fell 1.4% in Q1FY25 to
5.237 MMT compared to Q1FY24. This includes 4.629 MMT from domestic operations,
0.353 MMT from JV and 0.255 MMT from Condensate. ONGC gas production fell 4.1%
to 5.008 BCM in Q1FY`25. This includes 4.86 BCM from domestic operations and
0.148 BCM from JVs.
Promoters’ stake was 58.89% as of 30 June
2024 ,compared to 58.89% as of 30 June 2023.
Full
year results analysis
Net sales (including other operating income)
of Oil & Natural Gas Corpn has declined 6.10% to Rs 643037.01 crore. Sales of Offshore segment has gone down 9.45%
to Rs 94,270.18 crore (accounting for 13.18% of total sales). Sales of Onshore segment has gone down 14.19%
to Rs 43,864.61 crore (accounting for 6.13% of total sales). Sales of Refining & Marketing segment
fell 4.07% to Rs 5,67,459.75 crore (accounting for 79.35% of total sales). Sales of Outside India segment has gone down
18.18% to Rs 9,553.45 crore (accounting for 1.34% of total sales). Inter-segment sales came down from Rs
73,740.95 crore to Rs 72,260.53 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 63.91% to Rs 77,631.74 crore. PBIT of Offshore segment rose 2.89% to Rs
44,034.03 crore (accounting for 56.72% of total PBIT). PBIT of Onshore segment fell 2.63% to Rs
6,142.46 crore (accounting for 7.91% of total PBIT). PBIT of Refining & Marketing reported
profit of Rs 26,520.53 crore compared to loss of Rs 5,678.78 crore. PBIT of Outside India segment fell 76.26% to
Rs 934.72 crore (accounting for 1.20% of total PBIT).
PBIT margin of Offshore segment rose from
41.10% to 46.71%. PBIT margin of Onshore
segment rose from 12.34% to 14.00%. PBIT
margin of Refining & Marketing segment rose from negative 0.96% to 4.67%. PBIT margin of Outside India segment fell
from 33.72% to 9.78%. Overall PBIT
margin rose from 6.24% to 10.86%.
Operating profit margin has jumped from
11.28% to 15.99%, leading to 33.13% rise in operating profit to Rs 1,02,835.45
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 27.51% to 26.77%. Purchase of finished goods cost fell from
39.00% to 35.60%. Employee cost
increased from 1.00% to 1.13%. Other
expenses fell from 21.17% to 20.62%.
Selling and administration expenses fell from 13.17% to 12.67%. Provisions writeoffs cost fell from 1.24% to
0.90%. Other provisions fell from 1.24%
to 0.90%.
Other income rose 51.37% to Rs 12221.93
crore. PBIDT rose 34.85% to Rs 115057.38
crore. Provision for interest rose
29.21% to Rs 10194.17 crore. Loan funds
rose to Rs 1,53,180.53 crore as of 31 March 2024 from Rs 1,42,254.82 crore as
of 31 March 2023. Inventories rose to Rs
52,250.51 crore as of 31 March 2024 from Rs 44,238.07 crore as of 31 March
2023. Sundry debtors were higher at Rs
19,762.95 crore as of 31 March 2024 compared to Rs 18,751.58 crore as of 31
March 2023. Cash and bank balance rose
to Rs 36,689.64 crore as of 31 March 2024 from Rs 29,140.33 crore as of 31
March 2023. Investments rose to Rs
1,02,207.20 crore as of 31 March 2024 from Rs 78,872.61 crore as of 31 March
2023 .
PBDT rose 35.43% to Rs 104863.21 crore. Provision for depreciation rose 17.01% to Rs
28762.74 crore. Fixed assets increased
to Rs 4,03,763.38 crore as of 31 March 2024 from Rs 3,11,787.59 crore as of 31
March 2023. Intangible assets declined
from Rs 52,976.45 crore to Rs 12,136.44 crore.
Profit before tax grew 43.99% to Rs 76,100.47
crore. Share of profit/loss was
6,934.73% higher at Rs 2396.03 crore.
Extraordinary items were increased to Rs -1,636.43 crore. Provision for tax was expense of Rs 19759.23
crore, compared to Rs 10699.57 crore.
Effective tax rate was 25.71% compared to 23.91%.
Net profit attributable to owners of the
company increased 34.08% to Rs 49,221.38 crore.
Crude oil production fell 1.6% in Q4FY24 to
21.139 MMT compared to FY23. This includes 18.401 MMT from domestic operations,
1.668 MMT from JV and 1.07 MMT from Condensate. ONGC gas production fell 3.3%
to 20.648 BCM in FY`24. This includes 19.974 BCM from domestic operations and
0.674 BCM from JVs.
Equity capital stood at Rs 6,290.14 crore as
of 31 March 2024 to Rs 6,290.14 crore as of 31 March 2023. Per share face Value remained same at Rs
5.00.
Promoters’ stake was 58.89% as of 31 March
2024 ,compared to 58.89% as of 31 March 2023.
Cash flow from operating activities increased
to Rs 99,262.68 crore for year ended March 2024 from Rs 86,062.10 crore for
year ended March 2023. Cash flow used in
acquiring fixed assets during the year ended March 2024 stood at Rs 37,915.62
crore, compared to Rs 38,718.78 crore during the year ended March 2023.
The scrip is currently trading at Rs 306
|
Oil & Natural Gas Corpn :
Consolidated Results
|
|
Particulars
|
2406
(03)
|
2306
(03)
|
Var.(%)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Net
Sales
|
1,66,576.75
|
1,63,823.59
|
2
|
6,43,037.01
|
6,84,829.22
|
-6
|
|
OPM
(%)
|
13.1
|
18.8
|
|
16.0
|
11.3
|
|
|
OP
|
21,794.27
|
30,794.96
|
-29
|
1,02,835.45
|
77,246.64
|
33
|
|
Other
Inc.
|
2,985.51
|
2,543.53
|
17
|
12,221.93
|
8,074.08
|
51
|
|
PBIDT
|
24,779.78
|
33,338.49
|
-26
|
1,15,057.38
|
85,320.72
|
35
|
|
Interest
|
2,938.36
|
2,363.94
|
24
|
10,194.17
|
7,889.36
|
29
|
|
PBDT
|
21,841.42
|
30,974.55
|
-29
|
1,04,863.21
|
77,431.36
|
35
|
|
Depreciation
|
8075.47
|
7078.28
|
14
|
28762.74
|
24581.45
|
17
|
|
PBT
|
13,765.95
|
23,896.27
|
-42
|
76100.47
|
52849.91
|
44
|
|
Share
of Profit/(Loss) from Associates
|
215.06
|
525.75
|
-59
|
2396.03
|
34.06
|
999
|
|
PBT
before EO
|
13981.01
|
24422.02
|
-43
|
78496.5
|
52883.97
|
48
|
|
EO
Income
|
0
|
0
|
-
|
-1636.43
|
-8137.94
|
80
|
|
PBT
after EO
|
13981.01
|
24422.02
|
-43
|
76860.07
|
44746.03
|
72
|
|
Taxation
|
3745.37
|
6528.54
|
-43
|
19759.23
|
10699.57
|
85
|
|
PAT
|
10235.64
|
17893.48
|
-43
|
57100.84
|
34046.46
|
68
|
|
Minority
Interest (MI)
|
299.19
|
3249.05
|
-91
|
7879.46
|
-2662.87
|
PL
|
|
Net
profit
|
9936.45
|
14644.43
|
-32
|
49221.38
|
36709.33
|
34
|
|
EPS
(Rs)*
|
#
|
#
|
|
39.9
|
34.5
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 6,290.14 crore, Face value of Rs 5, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
Oil & Natural Gas Corpn :
Consolidated Segment Results
|
|
|
%
of (Total)
|
2406
(03)
|
2306
(03)
|
Var.(%)
|
%
of (Total)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Sales
|
|
Offshore
|
13
|
24,187.24
|
23,076.85
|
5
|
13
|
94,270.18
|
1,04,113.80
|
-9
|
|
Onshore
|
6
|
10,996.45
|
10,669.13
|
3
|
6
|
43,864.61
|
51,115.65
|
-14
|
|
Refining
& Marketing
|
80
|
1,48,315.39
|
1,44,063.14
|
3
|
79
|
5,67,459.75
|
5,91,522.50
|
-4
|
|
Outside
India
|
1
|
2,483.53
|
2,367.81
|
5
|
1
|
9,553.45
|
11,676.33
|
-18
|
|
Total
Reported Sales
|
100
|
1,85,982.61
|
1,80,176.93
|
3
|
100
|
7,15,147.99
|
7,58,428.28
|
-6
|
|
Less:
Inter segment revenues
|
|
19,443.78
|
16,393.97
|
19
|
|
72,260.53
|
73,740.95
|
-2
|
|
Net
Sales
|
|
1,66,538.83
|
1,63,782.96
|
2
|
|
6,42,887.46
|
6,84,687.33
|
-6
|
|
PBIT
|
|
Offshore
|
71
|
10,656.03
|
11,696.98
|
-9
|
57
|
44,034.03
|
42,795.40
|
3
|
|
Onshore
|
12
|
1,835.65
|
2,398.81
|
-23
|
8
|
6,142.46
|
6,308.16
|
-3
|
|
Refining
& Marketing
|
10
|
1,446.86
|
10,507.33
|
-86
|
34
|
26,520.53
|
-5,678.78
|
LP
|
|
Outside
India
|
8
|
1,139.75
|
367.87
|
210
|
1
|
934.72
|
3,937.30
|
-76
|
|
Total
PBIT
|
100
|
15,078.29
|
24,970.99
|
-40
|
100
|
77,631.74
|
47,362.08
|
64
|
|
Less
: Interest
|
|
2,938.36
|
2,363.94
|
24
|
|
10,194.17
|
7,889.36
|
29
|
|
Add:
Other un-allcoable
|
|
1,841.08
|
1,814.97
|
1
|
|
9,422.50
|
3,578.04
|
163
|
|
PBT
|
|
13,981.01
|
24,422.02
|
-43
|
|
76,860.07
|
43,050.76
|
79
|
|