One of the top exploration and production firms in India is Oil and Natural Gas Company (ONGC). The business is well-established in the upstream oil and gas industry and has significantly aided India’s energy security. As a result, traders, analysts, and investors have always been quite interested in the share price of ONGC.
We shall examine ONGC’s share price target from 2023 to 2030 in this article. To accurately anticipate the company’s future success, we will examine its financial performance, growth potential, and market trends. We will also look at the macroeconomic variables and governmental regulations that could have an impact on ONGC’s activities and, consequently, its share price.
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Contents
ONGC IN RECENT NEWS
- It is predicted that ONGC’s dividend per share will remain in the double-digit range until FY26.
- ONGC and Oil India’s stock prices have increased by 3%, reaching their highest levels in over eight months.
- Following the government’s reduction in windfall tax, ONGC’s shares have surged by 4%, and brokerage firms anticipate potential gains of up to 53%.
ONGC SHARE PRICE TARGET 2023
| ONGC SHARE PRICE TARGET 2023 | Maximum Price | Minimum Price |
| March 2023 | ₹155.80 | ₹119.85 |
| April 2023 | ₹171.38 | ₹131.83 |
| May 2023 | ₹142.82 | ₹109.86 |
| June 2023 | ₹171.38 | ₹131.83 |
| July 2023 | ₹205.66 | ₹158.20 |
| August 2023 | ₹226.22 | ₹174.02 |
| September 2023 | ₹237.53 | ₹182.72 |
| October 2023 | ₹226.22 | ₹174.02 |
| November 2023 | ₹248.84 | ₹191.42 |
| December 2023 | ₹278.71 | ₹214.39 |
ONGC’s share price has been on an upward trend throughout 2023, with a bullish outlook predicted for the remainder of the year. The company’s share price is expected to continue to rise, with an estimated growth percentage of up to 131.67% from the minimum price of ₹109.86 in May 2023 to the maximum price of ₹278.71 in December 2023. This upward trend is primarily attributed to several positive developments, including the reduction of windfall tax by the government, increased investor confidence, and improved financial performance. Based on the predicted share price movements, it is evident that ONGC is poised for a strong performance in 2023, which is likely to make it an attractive investment option for investors looking to capitalize on the growth potential of the oil and gas sector.
ONGC SHARE PRICE TARGET 2024
| ONGC SHARE PRICE TARGET 2024 | Maximum Price | Minimum Price |
| January 2024 | ₹293.37 | 1037.03 |
| February 2024 | ₹329.63 | ₹274.69 |
| March 2024 | ₹346.98 | ₹282.10 |
| April 2024 | ₹315.44 | ₹242.65 |
| May 2024 | ₹262.87 | ₹202.20 |
| June 2024 | ₹315.44 | ₹242.65 |
| July 2024 | ₹268.12 | ₹207.85 |
| August 2024 | ₹294.94 | ₹234.08 |
| September 2024 | ₹309.68 | ₹238.22 |
| October 2024 | ₹364.33 | ₹280.26 |
| November 2024 | ₹382.55 | ₹294.27 |
| December 2024 | ₹390.20 | ₹300.15 |
The year 2024 is expected to witness a mixed trend in ONGC’s share price, with the stock experiencing both highs and lows. From the minimum price of ₹202.20 in May 2024, the stock price is anticipated to reach a maximum price of ₹1,037.03 in January 2024, representing a significant growth percentage of up to 411.28%. However, the share price is expected to dip again in the following months, reaching a minimum price of ₹207.85 in July 2024. Despite these fluctuations, the overall trend for ONGC’s share price in 2024 is expected to be on an upward trajectory, with an estimated growth percentage of up to 161.67% from the minimum price to the maximum price. The factors contributing to this growth include the company’s strong financial performance, the expected increase in oil prices, and the government’s focus on energy security. Investors looking to invest in ONGC in 2024 should be mindful of the potential risks associated with the stock’s volatility, but also consider the stock’s long-term growth potential.
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ONGC SHARE PRICE TARGET 2025
| ONGC SHARE PRICE TARGET 2025 | Maximum Price | Minimum Price |
| January 2025 | ₹398.00 | ₹306.16 |
| February 2025 | ₹418.95 | ₹322.27 |
| March 2025 | ₹439.90 | ₹338.38 |
| April 2025 | ₹392.77 | ₹302.13 |
| May 2025 | ₹357.06 | ₹274.66 |
| June 2025 | ₹392.77 | ₹302.13 |
| July 2025 | ₹374.06 | ₹287.74 |
| August 2025 | ₹389.65 | ₹299.73 |
| September 2025 | ₹409.13 | ₹314.72 |
| October 2025 | ₹433.68 | ₹333.60 |
| November 2025 | ₹464.04 | ₹356.95 |
| December 2025 | ₹473.32 | ₹364.09 |
ONGC’s share price in 2025 is expected to continue its upward trajectory, with the stock reaching a maximum price of ₹473.32 and a minimum price of ₹274.66. From the minimum price in May 2025, the stock is predicted to rise by up to 72.53% to reach a maximum price of ₹473.32 in December 2025. The growth percentage from the minimum price to the maximum price is expected to be significant, indicating a bullish trend in ONGC’s stock in 2025. The company’s strong financial performance, positive outlook for the oil and gas sector, and favorable government policies are expected to contribute to this growth. However, investors should remain cautious of the potential risks associated with the stock’s volatility, as well as external factors such as geopolitical tensions and global economic conditions that could impact the industry as a whole. Overall, the outlook for ONGC’s share price in 2025 appears promising, with the stock expected to offer growth potential for investors looking to invest in the energy sector.
ONGC SHARE PRICE TARGET 2026 TO 2030
| ONGC SHARE PRICE TARGET BY | Maximum Price | Minimum Price |
| 2026 | ₹331.32 | ₹231.93 |
| 2027 | ₹281.62 | ₹197.14 |
| 2028 | ₹506.92 | ₹354.85 |
| 2029 | ₹1,041.30 | ₹728.91 |
| 2030 | ₹1,159.63 | ₹811.74 |
Looking at the ONGC share price target for the years 2026 to 2030, we can see a mixed trend in the prices. In 2026, the maximum and minimum prices are expected to be around ₹331.32 and ₹231.93 respectively. In 2027, the prices are expected to decline further, with the maximum and minimum prices estimated to be around ₹281.62 and ₹197.14 respectively. However, in the following years, the prices are expected to bounce back with a bullish trend. In 2028, the maximum and minimum prices are estimated to be around ₹506.92 and ₹354.85 respectively, while in 2029, they are expected to be around ₹1,041.30 and ₹728.91 respectively. The prices are expected to continue rising in 2030, with the maximum and minimum prices estimated to be around ₹1,159.63 and ₹811.74 respectively.
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FINANCIAL STRENGTH OF ONGC (2018 TO 2022)
| ANNUAL | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
| Total Revenue | 4,98,707.43 | 3,13,324.00 | 4,05,839.59 | 4,29,534.05 | 3,30,173.90 |
| Total Revenue Growth (%) | 59.17 | -22.80 | -5.52 | 30.09 | 13.14 |
| Total Expenses | 4,43,975.34 | 2,85,152.49 | 3,78,781.81 | 3,76,604.16 | 2,93,927.65 |
| Total Expenses Growth (%) | 55.70 | -24.72 | 0.58 | 28.13 | 15.94 |
| Profit after Tax (PAT) | 45,522.11 | 16,248.69 | 10,803.60 | 30,494.96 | 22,105.93 |
| PAT Growth (%) | 180.16 | 50.40 | -64.57 | 37.95 | -9.47 |
| Operating Profit Margin (%) | 12.30 | 10.93 | 8.70 | 13.94 | 12.78 |
| Net Profit Margin (%) | 9.26 | 5.34 | 2.72 | 7.23 | 6.85 |
| Basic EPS (₹) | 36.19 | 12.92 | 8.59 | 23.81 | 17.23 |
The financial statement of ONGC for the last five years shows significant growth in terms of revenue and profitability. The company’s total revenue in FY 2022 reached ₹4,98,707.43 crores, which is an increase of 59.17% from the previous year. However, the company witnessed a decline in revenue growth in FY 2021 by -22.80% and in FY 2020 by -5.52%. ONGC’s total expenses have also seen a consistent growth pattern, with the total expenses in FY 2022 amounting to ₹4,43,975.34 crores, an increase of 55.70% from the previous year.
ONGC’s Profit After Tax (PAT) has been volatile over the last five years. In FY 2022, the company reported a PAT of ₹45,522.11 crores, which is a significant increase of 180.16% compared to the previous year. However, the company’s PAT declined by -64.57% in FY 2020. The Operating Profit Margin (OPM) of the company has seen a consistent growth pattern, with an OPM of 12.30% in FY 2022. The Net Profit Margin (NPM) has also seen a growth of 9.26% in FY 2022 compared to 5.34% in the previous year.
Overall, the company has seen a positive growth trend in terms of revenue, operating profit margin, and net profit margin over the last five years, although the company has seen volatility in its PAT growth. The maximum revenue growth in the past five years was witnessed in FY 2022, while the minimum growth was observed in FY 2021.
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FAQ’s
The maximum share price target of ONGC in 2026 is Rs. 331.32
The maximum share price target of ONGC in 2027 is Rs. 281.62
The maximum share price target of ONGC in 2028 is Rs. 506.92
The maximum share price target of ONGC in 2029 is Rs. 1041.30
The maximum share price target of ONGC in 2030 is Rs. 1159.63
CONCLUSION: OIL AND NATURAL GAS CORPORATION LIMITED
According to ONGC’s financial accounts for the previous five years, the firm has demonstrated constant revenue growth, albeit with minor swings in between. The company’s PAT has also experienced tremendous increase, particularly during the past two years. The earnings growth, however, has fluctuated over time. Overall, it appears that the company’s financial performance is stable, making it a solid choice for investors wishing to make long-term investments in the energy industry. Before making any investment decisions, it is advised that potential investors conduct their own research and analysis.
