8 Feb 2023 , 03:01 PM
Result date: 14th February, 2023
Recommendation: Reduce
Target price: Rs 130
Oil and Natural Gas Corporation (ONGC) could benefit from a 200% increase in gas price realizations, as APM gas prices were revised upward. However, analysts at IIFL Capital Services believe the benefit of runaway in Crude prices would be minimized due to windfall tax. Consequently, Oil realizations are likely to be up by only 2% over the year-ago quarter.
ONGC’s production is expected to be down 3% over the year-ago quarter.
Analysts at IIFL Capital Services expect the Profit After Tax or PAT of ONGC to increase 46% over the year-ago quarter. They estimated that a S$5/bbl change in oil prices leads to ~7% change in EPS for ONGC.
| Rs Million |
December 2022 estimates |
| Sales |
370,126 |
| EBITDA |
206,238 |
| PAT |
127,542 |
Source: IIFL Research
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2026, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132 (Member ID - NSE: 10975 BSE: 179 MCX: 55995 NCDEX: 01249), DP SEBI Reg. No. IN-DP-185-2016, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, Merchant Banker SEBI Regn. No. INM000010940, RA SEBI Regn. No: INH000000248, BSE Enlistment Number (RA): 5016, AMFI-Registered Mutual Fund Distributor & SIF Distributor
ARN NO : 47791 (Date of initial registration – 17/02/2007; Current validity of ARN – 08/02/2027), PFRDA Reg. No. PoP 20092018, IRDAI Corporate Agent (Composite) : CA1099
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
