OIL AND NATURAL GAS CORPORATION SHARE PRICE TARGET 2024 TO 2030: CAN ONGC REACH 500 INR?

In India’s oil and gas sector, Oil and Natural Gas Corporation (ONGC) is one of the major companies. The upstream sector of the oil and gas value chain is a substantial part of ONGC’s operations, which are spread out across several nations. The business has built a solid reputation as a trustworthy participant in the energy industry, providing its stockholders with sizable earnings and revenues.

We shall examine the ONGC share price target from 2024 to 2030 in this article. In this section, we’ll examine the variables that might have an effect on the company’s performance and stock price in the upcoming years. For the purpose of determining a reasonable price target for ONGC shares, we will also consider the company’s financials and the current market trends.

ONGC Q3 Highlight

• ONGC’s Q3 FY24 consolidated net profit declined by 7.9% to Rs 10,748 crore.
• Total crude production dropped by 3.3% to 5.21 MMT, and natural gas production decreased by 4.3% to 5.12 BCM.
• Factors such as offshore platform shutdowns, a new crude oil pipeline, and Cyclone Biparjoy contributed to production disruptions.
• The decline in matured field production is expected to be offset by upcoming projects in future quarters.
• ONGC’s board approved a second interim dividend of 80%, amounting to Rs 4 per equity share, in addition to the first interim dividend declared earlier.
• The second interim dividend’s total payout is Rs 5,032 crore, with the record date set for February 17, 2024.
• ONGC is investing $2 billion to recapitalize its petrochemical subsidiary, ONGC Petro additions Ltd, aiming to raise its stake to 95%.
• Earnings per barrel of crude declined by 6.4%, and earnings on gas fell by 24.2%.
• Proactive steps, including well interventions and new well drilling, are being implemented to counter production declines and ensure stability.

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ONGC SHARE PRICE TARGET 2024

When	Maximum Price	Minimum Price
February 2024	₹275.00	₹239.13
March 2024	₹280.61	₹244.01
April 2024	₹272.44	₹236.90
May 2024	₹268.41	₹233.40
June 2024	₹278.08	₹241.80
July 2024	₹275.29	239.39
August 2024	₹286.31	₹248.96
September 2024	₹297.76	₹258.92
October 2024	291.92	₹253.84
November 2024	₹300.68	₹261.46
December 2024	₹308.20	₹268.00

In February 2024, ONGC is projected to experience a maximum price of ₹275.00 and a minimum price of ₹239.13. As the year progresses, the trend continues with fluctuations in maximum and minimum prices, reaching a peak of ₹308.20 and a low of ₹268.00 in December 2024.

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ONGC SHARE PRICE TARGET 2025

When	Maximum Price	Minimum Price
January 2025	₹296.05	₹227.73
February 2025	₹303.64	₹233.57
March 2025	₹315.48	₹242.68
April 2025	₹309.29	₹237.92
May 2025	₹300.28	₹230.99
June 2025	₹313.80	₹241.38
July 2025	₹307.64	₹236.65
August 2025	₹317.16	₹243.97
September 2025	₹328.26	₹252.51
October 2025	₹336.79	₹259.07
November 2025	₹345.21	₹265.55
December 2025	₹353.84	₹272.19

In January 2025, the market opened with a maximum price of 296.05 and a minimum of 227.73, indicating a diverse range of price movements. February witnessed a further uptrend, with the maximum reaching 303.64 and the minimum at 233.57. March displayed continued growth, recording a maximum of 315.48 and a minimum of 242.68. April maintained a robust market, with the maximum price at 309.29 and the minimum at 237.92. May saw a slight dip, as the maximum price reached 300.28 and the minimum settled at 230.99.

June marked a rebound in prices, reaching a maximum of 313.80 and a minimum of 241.38. July remained relatively stable, with a maximum of 307.64 and a minimum of 236.65. August showcased an upward trend, recording a maximum price of 317.16 and a minimum at 243.97. September continued this positive momentum, with the maximum price reaching 328.26 and the minimum at 252.51.

In October, the market experienced a notable surge, with a maximum of 336.79 and a minimum of 259.07. November witnessed further growth, with the maximum price at 345.21 and the minimum at 265.55. December closed the year with a maximum of 353.84 and a minimum of 272.19. The year demonstrated a dynamic market with fluctuations in prices, reflecting changing economic conditions and market dynamics throughout 2025.

ONGC SHARE PRICE TARGET 2026 TO 2030

ONGC SHARE PRICE TARGET BY	Maximum Price	Minimum Price
2026	₹307.29	₹215.10
2027	₹261.20	₹182.84
2028	₹470.16	₹329.11
2029	₹965.77	₹676.04
2030	₹1,075.52	₹752.87

In 2026, the maximum share price target is ₹307.29, while the minimum is ₹215.10. This suggests that there may be some volatility in the market that year.

Moving to 2027, the share price target for ONGC is expected to decrease, with the maximum target at ₹261.20 and the minimum at ₹182.84. This may be due to changes in market sentiment or other external factors.

However, in 2028, ONGC is expected to experience a significant rise in its share price, with the maximum target at ₹470.16 and the minimum at ₹329.11. This suggests that the company may have strong growth prospects that year.

In 2029, the share price target for ONGC is expected to see a further increase, with the maximum target at ₹965.77 and the minimum at ₹676.04. This indicates that the company may be experiencing sustained growth and investor confidence.

Finally, in 2030, the share price target for ONGC sees a slight increase from the previous year, with the maximum target at ₹1,075.52 and the minimum at ₹752.87. This suggests that the company may have solid growth prospects heading into the future.

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FINANCIAL STRENGTH OF ONGC (2019TO 2023)

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Sales +	421,624	396,728	303,849	491,246	632,291
Expenses +	346,805	344,623	254,375	411,373	556,764
Operating Profit	74,819	52,105	49,473	79,874	75,527
OPM %	18%	13%	16%	16%	12%
Other Income +	9,567	982	11,271	6,797	-30
Interest	5,837	7,489	5,079	5,696	7,889
Depreciation	23,704	26,635	25,538	26,883	24,557
Profit before tax	54,846	18,962	30,126	54,091	43,051
Tax %	38%	40%	29%	9%	24%
Net Profit +	33,938	11,456	21,360	49,294	32,778
EPS in Rs	24.28	8.59	12.96	36.19	28.17
Dividend Payout %	29%	58%	28%	29%	40%

The financial data for the company over the years from March 2019 to March 2023 reveals several key trends. The Sales, representing the revenue generated by the company, showed a significant increase from 421,624 in March 2019 to 632,291 in March 2023. However, it’s important to note that the operating profit margin (OPM %) experienced fluctuations during this period, starting at 18% in March 2019, dropping to 13% in March 2020, then recovering to 16% in March 2021, maintaining the same level in March 2022, and decreasing to 12% in March 2023.

Operating Profit, reflecting the profitability from the core business operations, fluctuated over the years but showed an overall positive trend, increasing from 74,819 in March 2019 to 75,527 in March 2023. Other Income, which includes non-operating sources of revenue, saw variations but remained positive, except for a slight dip to -30 in March 2023.

Interest expenses remained relatively stable, ranging between 5,079 and 7,889 during the period. Depreciation, representing the wear and tear of assets, fluctuated but did not show a consistent trend. Profit before tax increased from 54,846 in March 2019 to 54,091 in March 2023, showcasing overall stability.

The Tax percentage exhibited fluctuations, starting at 38% in March 2019, peaking at 40% in March 2020, and then decreasing to 9% in March 2022, before settling at 24% in March 2023. Net Profit, representing the company’s bottom line, increased from 33,938 in March 2019 to 32,778 in March 2023.

Earnings Per Share (EPS) in Rs increased from 24.28 in March 2019 to 28.17 in March 2023, indicating growth in earnings attributable to each share. Dividend Payout Percentage varied, peaking at 58% in March 2020 and settling at 40% in March 2023, reflecting the proportion of earnings distributed as dividends to shareholders.

Overall, the financial data suggests a company that has experienced growth in revenue and profitability, though with some fluctuations in operating profit margin and other financial metrics over the years. The varying tax percentages and dividend payout ratios also indicate the company’s adaptability to changing economic conditions.

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FAQ’s

What is the Price Prediction of ONGC for 2025?

What is ONGC?

ONGC stands for Oil and Natural Gas Corporation. It is an Indian multinational oil and gas company headquartered in Dehradun, Uttarakhand, India.

What contributed to the significant increase in Sales from March 2019 to March 2023?

The substantial increase in sales over this period can be attributed to various factors such as effective market strategies, product innovation, expansion into new markets, or increased demand for the company’s products or services. It would be essential to analyze the specific drivers behind this growth to gain a comprehensive understanding.

Why did the Operating Profit Margin (OPM %) fluctuate, and what impact did it have on overall profitability?

The fluctuations in OPM % indicate changes in the efficiency of the company’s core business operations. Understanding the reasons behind these fluctuations, whether due to variations in expenses, market conditions, or other factors, can provide insights into the company’s operational dynamics. Additionally, assessing how these fluctuations influenced overall profitability is crucial for stakeholders.

CONCLUSION: OIL AND NATURAL GAS CORPORATION SHARE PRICE TARGET

According to ONGC’s rise in income, PAT, revenue, and profit during the previous five years, the company seems to be in good financial health. Over the years, the company has consistently increased its sales and profits, with the current year’s growth rate being particularly high. However, investors should also take into account any risks related to the energy sector, such as shifting oil prices and altering governmental regulations. To ascertain whether ONGC shares are a good fit for their portfolio, investors should do their own research and analysis as well as speak with financial professionals before making any investment decisions.