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State-run oil and gas producer Oil and Natural Gas Corporation Ltd (ONGC) on Friday (June 12) said its subsidiary ONGC Petro additions Ltd (OPaL) has approved a proposal to raise up to ₹4,471 crore through the private placement of non-convertible debentures (NCDs).
The proposal involves raising funds through private placement of secured or unsecured, redeemable non-convertible debentures in one or more tranches for an aggregate amount not exceeding ₹4,471 crore. ONGC informed that OPaL's board of directors approved the fundraising proposal at its 134th board meeting held on June 11, 2026.
According to the disclosure, the proposal was recommended by the Audit Committee and will be subject to approval from shareholders and other applicable statutory and regulatory authorities. ONGC said OPaL is a debt-listed subsidiary of the company.
Also Read: Explained - Why Morgan Stanley bets on ONGC but downgrades its peer Oil India Fourth Quarter Results
Oil and Natural Gas Corporation Ltd reported a 20.6% quarter-on-quarter decline in net profit at ₹6,650 crore for the fourth quarter, compared with ₹8,372 crore in the previous quarter.
Revenue increased 13.9% sequentially to ₹35,928 crore from ₹31,547 crore. EBITDA declined 17.1% quarter-on-quarter to ₹12,666 crore from ₹15,272 crore, while EBITDA margin fell to 35.3% from 48.4% in the preceding quarter.
The company reported turnover of ₹8,443 crore during FY26 compared with ₹9,160 crore in FY25, excluding trading activities. ONGC attributed the decline to lower realised crude oil prices of $60.09 per barrel during FY26 versus $70.23 per barrel in FY25.
Also Read: Explained - Why have ONGC, Oil India been under pressure and what lies ahead
ONGC said total dividend for FY26 stood at ₹13.25 per share with a payout ratio of about 51%. The board recommended a final dividend of ₹1 per share, or 20%, subject to shareholder approval at the AGM. The total payout for FY26 amounts to ₹16,669 crore, including an interim dividend of ₹15,411 crore, or ₹12.25 per share, already paid during the year.
Shares of Oil and Natural Gas Corporation Ltd ended at ₹246.15, down by ₹6.40, or 2.53%, on the BSE.
The proposal involves raising funds through private placement of secured or unsecured, redeemable non-convertible debentures in one or more tranches for an aggregate amount not exceeding ₹4,471 crore. ONGC informed that OPaL's board of directors approved the fundraising proposal at its 134th board meeting held on June 11, 2026.
According to the disclosure, the proposal was recommended by the Audit Committee and will be subject to approval from shareholders and other applicable statutory and regulatory authorities. ONGC said OPaL is a debt-listed subsidiary of the company.
Also Read: Explained - Why Morgan Stanley bets on ONGC but downgrades its peer Oil India Fourth Quarter Results
Oil and Natural Gas Corporation Ltd reported a 20.6% quarter-on-quarter decline in net profit at ₹6,650 crore for the fourth quarter, compared with ₹8,372 crore in the previous quarter.
Revenue increased 13.9% sequentially to ₹35,928 crore from ₹31,547 crore. EBITDA declined 17.1% quarter-on-quarter to ₹12,666 crore from ₹15,272 crore, while EBITDA margin fell to 35.3% from 48.4% in the preceding quarter.
The company reported turnover of ₹8,443 crore during FY26 compared with ₹9,160 crore in FY25, excluding trading activities. ONGC attributed the decline to lower realised crude oil prices of $60.09 per barrel during FY26 versus $70.23 per barrel in FY25.
Also Read: Explained - Why have ONGC, Oil India been under pressure and what lies ahead
ONGC said total dividend for FY26 stood at ₹13.25 per share with a payout ratio of about 51%. The board recommended a final dividend of ₹1 per share, or 20%, subject to shareholder approval at the AGM. The total payout for FY26 amounts to ₹16,669 crore, including an interim dividend of ₹15,411 crore, or ₹12.25 per share, already paid during the year.
Shares of Oil and Natural Gas Corporation Ltd ended at ₹246.15, down by ₹6.40, or 2.53%, on the BSE.
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