Q4 2026 Oil and Natural Gas Corporation Ltd Earnings Call Transcript
Key Points
- Oil & Natural Gas Corp Ltd (BOM:500312) reported a significant increase in profit after tax for Q4 FY26, up by 53% compared to the previous year.
- The company declared three new hydrocarbon discoveries in the Mumbai offshore region, indicating potential for future production growth.
- ONGC has entered into multiple new ventures and strategic partnerships to enhance production growth and expand its renewable energy footprint.
- The company has maintained a reserve replacement ratio of more than 1.1%, indicating successful replenishment of its reserves.
- ONGC's subsidiaries, including OVL and OPaL, have shown improved performance, contributing positively to the consolidated financial results.
- Standalone crude oil production decreased from 18.558 million metric tonnes in FY25 to 15.355 million metric tonnes in FY26.
- There was a 15.6% decrease in per barrel realization of crude oil, impacting annual profits.
- The company faced increased other expenses due to provisions and write-offs, including a significant one-off provision related to GST and royalty.
- Gas production has been on a continuous decline over the last five years despite investments and guidance for increased production.
- The KG 98/2 project has faced delays and geological challenges, impacting expected production timelines.
Good morning, ladies and gentlemen. I'm Madhvi, moderator for the conference call. Welcome to ONGC's earnings conference call for quarer and year ended on 31st March 2026. We have with us today, Shri Arun Kumar Singh, Chairman and CEO, ONGC Group of Companies; Shri Rajarshi Gupta, MD, ONGC Videsh; Shri Manish Patil, Director, HR having additional Charge Director, Finance, ONGC; Shri Anupama Agarwal, Director of Finance, ONGC Videsh; and team who will interact with the investors and analysts to discuss Q4 earnings. (Operator Instructions) Please note, this conference is recorded.
I would now like to hand over the floor to Shri Manish Patil for his opening remarks.
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Good morning, ladies and gentlemen. I am Manish Patil, Director, HR, ONGC, having additional charge of Director Finance. I welcome you all to this ONGC earnings call for Q4 and financial year ended 2026.
Thank you all for joining us on the call. As said earlier, we have
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