ONGC Lifts Q4 Profit, Sweetens Dividend And Bets On New Port JV At Dahej

Nikunj Parikh - Mumbai Bureau May 26, 2026 1,300 Views

Oil and Natural Gas Corporation (ONGC) ended Q4 FY26 on a stronger note with higher profit, a rich dividend payout and fresh growth bets in ports and gas projects. The Maharatna reported resilient earnings despite flat production, backed by better realizations, higher overseas contribution and improved subsidiary performance.

Quarterly And Annual Earnings Snapshot

For Q4 FY26, ONGC posted standalone net profit of 6,650 crore rupees on gross revenue of 35,927 crore rupees, while consolidated Q4 net profit surged 53 percent year-on-year to 13,678 crore rupees. For FY26, consolidated net profit rose 30 percent to 49,793 crore rupees, with standalone profit at 32,894 crore rupees, even as standalone gross revenue eased to 1,32,509 crore rupees.

Dividend, Realisations And Gas Mix

The board has recommended a final dividend of 1 rupee per share, taking total FY26 dividend to 13.25 rupees per share (265 percent) with a payout of 16,669 crore rupees. Crude realization improved in Q4, with nominated oil net at 78.32 dollars per barrel and 7,158 rupees per barrel. New well gas delivered 6,678 crore rupees of FY26 revenue, now contributing over 21 percent of nomination gas revenue.

Production, Projects And Dahej Port JV

FY26 crude oil and gas output remained broadly steady, but ONGC highlighted new production from the Daman Upside Development Project and multiple Western Offshore projects worth 33,075 crore rupees now underway. The board has also approved, in principle, a 50:50 joint venture with Gujarat Maritime Board to develop a 5 MMTPA mega liquid port facility at Dahej, aimed at strengthening logistics and value realization across the energy chain.

Key business highlights

Q4 FY26 standalone profit: 6,650 crore rupees; gross revenue: 35,927 crore rupees
Q4 FY26 consolidated net profit: 13,678 crore rupees, up 53 percent year-on-year
FY26 consolidated net profit: 49,793 crore rupees; standalone: 32,894 crore rupees
Total FY26 dividend: 13.25 rupees per share; payout about 16,669 crore rupees
Dahej 5 MMTPA liquid port JV with Gujarat Maritime Board approved in principle