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Company Introduction

(ONGC) Oil and Natural Gas Corporation limited is the second largest oil and gas exploration and production Company
in the world and among leading global energy majors it ranks 23 rd position. It is headquartered in Dehradun and its
primary business includes like exploration and production of crude oil, natural gas, LPG and other value-added
petroleum products. Oil Videsh Limited (OVL) is a subsidiary setup by ONGC for overseas oil exploration and
production. With 30 projects OVL is operating in 15 countries with cumulative investment worth over USD 15 billion, to
source equity oil & gas for energy security of the country.
The Company has 27 crews, manages 240 onshore production installations, 77 drilling, 202 offshore installations and
58 work-over, owns and operates more than 26,598 kms of pipeline in India, including 4,500 kms of sub-sea pipelines.

Operational Highlights

OIL PRODUCTION (MMT)


24.42

2.86
FY'11

26.92

22.56

3.21
FY'12

22.25

3.56
FY'13

3.74
FY'14

22.26

3.68
FY'15

ONGC

OIL AND GAS RESERVES (3P)

659

687

720

764

777

553

563

570

567

582

FY'11

FY'12

FY'13

FY'14

FY'15

OIL(MMT)

Gas(BCM)

WELLS DRILLED (NOs.)

125
FY'11

323

280

135
FY'12

1
2.23

2
2.19

3
1.78

4
1.57

5
1.5

23.09

23.32

23.55

23.28

22.02

FY'11

FY'12

FY'13

FY'14

FY'15

ONGC
ONGC's share in PSC JV's

ONGC's share in PSC JV's

256

GAS PRODUCTION(BCM)

108

106

FY'13

Exploratory

283

FY'14

Development

268

103
FY'15

Financial Highlights

SALES INCOME (Rs. Mn)


661549

FY'11

761291

FY'12

825714 834697 823488

FY'13

FY'14

FY'15

NET PROFIT( Rs. Mn)


251229
189240

FY'11

FY'12

209257 220948

FY'13

177330

FY'14

FY'15

CAGR: 5.64 %

CAGR: (-) 1.61%

DIVIDENDS (Rs. Mn)

NET WORTH (Rs. Mn)

83416
81277

81277

81277

1117841

1229674

1356311

1436229

967084

74861

FY'11

FY'12

FY'13

FY'14

FY'15

FY'11

FY'12

FY'13

FY'14

CAGR: 10.39%

FY'15

CAPEX (Rs. Mn)


324695

292466

295079

FY'12

FY'13

299975

282755
FY'11

FY'14

FY'15

Profitability Analysis
Particulars

FY 2011

FY 2012

FY 2013

FY 2014

FY 2015

Operating Profit Margin Ratio

43.27

32.71

26.98

28.5

26.31

Net Profit Margin Ratio

18.72

19.3

14.77

15.28

10.98

Operating profit margin ratio and net profit margin ratio has declined drastically as
compared to previous years

Efficiency Analysis

Particulars
ROCE
ROE / RONW

FY 2011

FY 2012

FY 2013

FY 2014

FY 2015

43.49
19.79

33.49
20.84

26.82
15.88

24.05
15.4

18.36
10.16

ROCE has decreased by 57.77 % as compared to financial years 2011.

Valuation Analysis
Particulars
EPS
PE ratio

FY 2011

FY 2012

FY 2013

FY 2014

FY 2015

26.25
11.05

32.9
8.12

28.31
11

30.98
12.89

21.43
15.12

PE ratio which indicates the sum of money investor is ready to pay for each rupee worth of the earnings of
the company. PE ratio of ONGC has increased from 11.05 in FY 2011 to FY2015 15.12

Liquidity and Credit Analysis


Current Ratio
Higher current ratio implies healthier short term liquidity comfort level. A Current ratio below one indicate that the
company is not able to meet its short term obligations. ONGC has current ratio above one mostly. But sometimes ratio
below is not that bad. Over the last 5 financial years, ONGC current ratio has been 1.2 times which indicates that it is
well placed to pay for its short term obligations and is well managing it.
Long Term Debt to Equity Ratio
Company with high level debt find it difficult to service its interest obligation in case of declining profit margin. The long
term debt to equity ratio higher than 0.6 - 0.8 may affect the business of a company and its results of operations.
Over the last 5 financial years, ONGC average Debt to equity ratio has been 0.1 times which indicates that the company
is managing its debt level very well and is low
Interest Coverage ratio
Interest coverage ratio indicates the comfort level the company is able to meet its interest obligation on its debt. Lower
interest coverage ratio indicates the company is not able to meet its interest obligation on the debt it has taken and it
may be a bad sigh for debt holders.
Over the last 5 financial years, ONGCs average interest coverage ratio has been 123.16 times which indicates that the
Company has been generating enough for the shareholders after servicing its debt obligations.