ONGC Board Approves FY26 Audited Results, Recommends Final Dividend of ₹1/Share
ONGC's Board approved FY26 audited standalone and consolidated results on May 26, 2026. A final dividend of ₹1 per share was recommended. In-principle approval was given for a 50:50 JV with GMB to develop a 5 MMTPA liquid port at Dahej. Parent company guarantee for USD 325 million abandonment liability was also approved.
The announcement includes the approval of annual financial results, a dividend recommendation, and significant strategic initiatives like a new joint venture for port development and a parent company guarantee for a substantial amount, all of which have a material impact on the company's financial and operational outlook.
The approval of audited financial results and recommendation of a final dividend are positive indicators. The in-principle approval for a new joint venture to develop a port facility also signals strategic growth and expansion.
Oil and Natural Gas Corporation Limited (ONGC) announced that its Board of Directors, in a meeting held on May 26, 2026, approved the audited financial results for the financial year ended March 31, 2026, on both standalone and consolidated bases. The Board also recommended a final dividend of ₹1 per equity share (20% on face value of ₹5) for the financial year 2025-26, subject to shareholder approval at the upcoming Annual General Meeting.
In addition to financial results and dividend, the Board granted in-principle approval for the formation of a 50:50 joint venture company with Gujarat Maritime Board (GMB) to develop a 5 Million Metric Tonnes Per Annum (MMTPA) liquid port at Dahej, Gujarat. This strategic move aims to strengthen ONGC Group's logistic backbone and support its integrated energy business.
The Board also approved a Parent Company Guarantee by ONGC's subsidiary, ONGBV, to the BC-10 Operator (Shell Brasil Petróleo Ltda.) on behalf of OCL for abandonment liability up to USD 325 million. Furthermore, it recommended related party transactions concerning the Area-1 Mozambique Project for shareholder approval, including the implementation of an AssetCo structure and extension of the Debt Service Undertaking (DSU) validity by ONGC.
The company also disclosed information regarding its ₹1,000 crore unsecured Non-Convertible Debentures (NCDs) as of March 31, 2026, and confirmed that security cover certificates are not applicable for these unsecured NCDs.
The Board meeting commenced at 14:45 hrs and concluded at 19:15 hrs on May 26, 2026.
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