The Board of Directors of ONGC, in its meeting on February 12, 2026, approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and nine months ended December 31, 2025. The Board also declared a 2nd Interim Dividend of ₹6.25 per equity share (@125%) for FY 2025-26, setting February 18, 2026, as the Record Date. Furthermore, disclosures regarding unsecured NCDs were made, confirming no security cover certificate is applicable.
Board Meeting Outcomes: February 12, 2026
The Board of Directors of Oil and Natural Gas Corporation Limited (ONGC) convened on February 12, 2026, and concluded the meeting at 20:15 hrs. The primary agenda items covered the approval of financial results and the declaration of an interim dividend.
Unaudited Financial Results (Standalone & Consolidated)
The Board approved the Unaudited Financial Results (Standalone and Consolidated) along with the limited review report for the quarter and nine months ended December 31, 2025. These results are detailed in Annexure-A.
Key Standalone Performance Indicators (Quarter Ended 31.12.2025)
- Revenue from Operations (Unaudited): ₹31,546.51 Crore.
- Profit Before Tax (Unaudited): ₹10,602.06 Crore.
- Total Comprehensive Income (Unaudited): ₹162.20 Crore.
- Basic Earnings Per Share (₹): ₹6.83.
Key Consolidated Performance Indicators (Nine Months Ended 31.12.2025)
- Total Revenue from Operations (Unaudited): ₹488,442.13 Crore.
- Profit Before Tax (Unaudited): ₹48,982.87 Crore.
- Total Comprehensive Income (Unaudited): ₹23,528.69 Crore.
Declaration of Second Interim Dividend
The Board declared the 2nd Interim Dividend for the Financial Year 2025-26 at the rate of ₹6.25 per equity share of face value ₹5/-, which equates to @125%. This dividend is in addition to the interim dividend of ₹6 per share declared on November 10, 2025.
The Record Date for determining shareholder eligibility for this dividend payment is fixed as Wednesday, February 18, 2026. The payment is scheduled within 30 days from the date of declaration.
Debt Disclosure Under Regulation 52(7) & (2A)
The Company reported holding ₹1,000 Crore in unsecured Non-Convertible Debentures (NCDs) as of December 31, 2025. Since these NCDs are unsecured, Security Cover certificates are not applicable under Regulation 54. Details regarding the utilization of NCD proceeds are provided in Annexure-B.
Emphasis of Matter (Standalone Results)
The auditors drew attention to several critical matters disclosed in the notes, including:
- Panna-Mukta and South Tapti JV Arbitration: Pending finality of the arbitration award, a contingent liability of approximately USD 1,624.05 million (₹14,600 Crore) as of December 31, 2025, related to demands by the Directorate General of Hydrocarbons, is noted.
- Service Tax / GST on Royalty: A disputed demand of ₹2,174 Crore (for penalty/other differences) and a contingent liability of ₹6,439 Crore (for JV partners’ share of taxes) concerning Service Tax/GST on royalty are disclosed. A provision of ₹18,810 Crore has been prudently made for disputed ST/GST on Royalty for nominated fields.
- Terminal Excise Duty Refund: A receivable of ₹2,088 Crore from the Directorate General of Foreign Trade is considered recoverable.
Other Matters Highlighted in Review Reports
The review reports also detailed several significant items, particularly concerning the subsidiary ONGC Videsh Limited (OVL):
- Sakhalin-1 Project Reorganization: The transfer of OVL’s rights in the Sakhalin-1 Project to a new Russian entity, Sakhalin-1 LLC, following a Russian Presidential Decree. The investment’s carrying value as of December 31, 2025, is ₹15,814 crore, disclosed as ‘Investment in Associate’.
- ONGC Videsh Rovuma Ltd. (OVRL) Loss: OVRL incurred a net loss of ₹980 crore for the nine months ended December 31, 2025. Capitalization of borrowing costs resumed effective November 7, 2025, after the force majeure was lifted.
Key Financial Ratios (Standalone, as at 31.12.2025)
The document provides detailed financial ratios based on the restated figures:
- Debt to Equity Ratio (Ratio V): 0.16.
- Interest Coverage Ratio (Ratio VI): 7.96 times.
- Net Profit Margin (%): 7.09%.
Source: BSE
