Oil & Natural Gas Corp. Ltd. · NSE:ONGC
Oil & Natural Gas — FY2024 Earnings Presentation
41 slides from Oil & Natural Gas's earnings presentation, May 21, 2024
Slide 1: Media Presentation
Media Presentation 21st May, 2024
Slide 2: Disclaimer
Disclaimer • This presentation does not provide individually tailored advice but is an effort to express views that may be considered debatable, and may not conform to different views on the topic and does not contain any information of strategic nature emerging from the ONGC group of Companies. • T
Slide 3: Presentation overview
Presentation overview 1 Standalone performance 2 Consolidated performance 3 Growth pursuits 4 Responsible Corporate 5 Subsidiaries & JVs 3
Slide 4: ONGC: Wealth Creation
ONGC: Wealth Creation GOI promoted ONGC with equity of ₹ 342.85 crore contributed over 22 years (1959 to 1981) ONGC contribution: ₹ 12,67,511 Crore to Govt. (till 31st March 2024) Disinvestment ~ ₹ 48,000 Crore Dividend Payment ₹ 1,23,701 Crore: Govt. of India Contribution to Exchequer ₹ 5,72,939 Cr
Slide 5: ONGC setting new standards
ONGC setting new standards ~₹ 4,00,000 ₹ 40,526 ₹ 3,05,976 1st oil from Leader in Crores Crores: PAT Crores deep water CSR Amongst Top CPSEs No 1 CPSE in terms of 25% of Total Net Crude oil production Average spend in terms of PBT & PAT worth of all commenced from ~₹ 540 Cr/year in last Market Cap M
Slide 6: ONGC: FY'24 Highlights
ONGC: FY’24 Highlights • 11 new discoveries, 2 in Mahanadi basin- Utkal & Konark, monetized 7 discoveries Exploration • Accelerated exploration: Bagged 84% of blocks in OALP Round VIII: 30,342 sq. km • Highest ever 544 wells drilled (103 Exploratory & 441 Development) Drilling • NPT in drilling rigs
Slide 7: Physical Performance
Physical Performance Standalone Oil & Gas Production (MMToE) Standalone + JV Oil & Gas Production (MMToE) Drilling (No. of Wells) 40.45 40.21 43.39 544 39.45 42.84 461 41.79 434 103 20.91 20.63 78 85 19.97 376 441 19.55 19.58 19.47 356 21.68 21.35 20.65 FY'22 FY'23 FY'24 FY'22 FY'23 FY'24 Oil Gas De
Slide 8: FY'24 standalone financial performance
FY’24 standalone financial performance Gross Revenue (₹ Crore) PAT (₹ Crore) 155,517 40,526 138,402 40,306 40,097 * 110,345 FY'22 FY'23 FY'24 FY'22 FY'23 FY'24 EPS (₹) Dividend Per Share (₹) 32.04 31.87 32.21 12.25 10.50 11.25 FY'22 FY'23 FY'24 FY'22 FY'23 FY'24 *Restated 8
Slide 9: Capex Utilization
Capex Utilization 37,494 (₹ Crore) 29,538 30,208 26,859 27,741 FY'20 FY'21 FY'22 FY'23 FY'24 Capex in last 5 years to the tune of ~ ₹ 1,51,000 Crore 9
Slide 10: Presentation overview
Presentation overview 1 Standalone performance 2 Consolidated performance 3 Growth pursuits 4 Responsible Corporate 5 Subsidiaries & JVs 10
Slide 11: ONGC group: Integrated energy company; expanding footprints in energy business
ONGC group: Integrated energy company; expanding footprints in energy business Refinery/ Upstream VAP LNG Power Renewables Services/Others Petchem 46 MMTPA / ~ 52 MMToE ~ 2,500 KTA 22.5 MMTPA 726 MW ~ 410 MW 3.8 MMTPA (71.63%) (12.5%) (50%) (49%) (100%) (95.69%) (49.996%) (54.9%) (50%) (100%) (26%)
Slide 12: ONGC Group: Resilient performance in FY'24
ONGC Group: Resilient performance in FY’24 1,193 MMToE 52 MMToE Oil & 2P Reserves ONGC : 39.45 MMToE ONGC : 704 MMToE Gas Production JV Share : 12.7 MMToE JV Share : 2.34 MMToE OVL : 476 MMToE OVL : 10.52 MMToE Estimated 2P O+OEG reserves on PRMS Contributed ~63% to India’s oil & gas basis Productio
Slide 13: Consolidated financial performance
Consolidated financial performance Parameter FY’23 (₹ Cr) FY’24 (₹ Cr) Total Income (Revenue + Other Income) 6,92,903 6,55,259 EBITDA 85,355 1,17,453 PAT 34,046 57,101 Total Debt 1,29,185 1,19,755 Total Equity (includes minority interest) 3,03,383 3,65,091 Total Capital 4,32,568 4,84,846 Debt / Tota
Slide 14: Robust capital structure
Robust capital structure Consolidated Total Debt to Equity Ratio 0.8 0.7 0.6 0.49 0.5 0.43 0.4 0.38 0.33 0.3 0.2 0.1 0 2020-21 2021-22 2022-23 2023-24 14
Slide 15: Strong credit ratings
Strong credit ratings DOMESTIC Long Term AAA AAA AAA Short Term A1+ A1+ A1+ INTERNATIONAL* Baa3 BBB- BBB- *Restricted by sovereign rating 15
Slide 16: Presentation overview
Presentation overview 1 Standalone performance 2 Consolidated performance 3 Growth pursuits 4 Responsible Corporate 5 Subsidiaries & JVs Add a footer
Slide 17: Looking forward
Looking forward 1 Truly Integrated Energy Company Deepen presence across Oil to Chemicals value chain Owing to crude linked stable gas price 2 Improvement in Financials regime with 20% premium for new gas 3 Exploration Focus on Cat-II Basins and No Go Areas 4 Production Enhance oil & gas production
Slide 18: Domestic E&P Exploration Growth
Domestic E&P Exploration Growth Strengthening exploration, Monetizing discoveries, Optimizing recovery 5 lakh SqKM 6 15 FY’26 14 66 Jodhpur Assam 13 2 11 Jorhat 3 lakh SqKM Mehsana Silchar Ahmedabad Bokaro FY’ 25 4 Tripura 3 12 61 Ankleshwar Cambay 5 10 1.87 lakh SqKM Rajahmundry FY’24 Mumbai Offsho
Slide 19: Domestic E&P Production Growth
Domestic E&P Production Growth Strengthening exploration, Monetizing discoveries, Optimizing recovery 44.51 6 15 FY’ 26 14 Assam • Redevelopment of Linch Jodhpur 13 Field 2 11 Jorhat 42.44 • Redevelopment of Mehsana Silchar Sobhasan Complex Ahmedabad Bokaro FY’ 25 • Daman Upside 4 Tripura 3 12 Devel
Slide 20: Projects under implementation
Projects under implementation Plan to intensify exploration, monetize discoveries & maximize recovery • KG-DWN-98/2 Cluster –II • Daman Upside Development Project (DUDP) 27* major projects • Mumbai High North Redevelopment Phase-IV • Life Extension of 48 Well Platforms (> ₹ 100 Crore) under Offshore
Slide 21: Green Energy Road map
Green Energy Road map Strategy has been defined for ONGC Green Ltd. (OGL) 10 GW FY’ 30 • 60-70% Solar, 30-40% onshore wind 1 GW • Through Inorganic & FY’ 25 Organic growth • 25 CBG plant • Through renewable • 2 GW PHP asset acquisition • 1 MMTPA Green NH2 193 MW • Capex - ₹ 1,000 Cr • 180 KT GH2 FY’
Slide 22: Human resources: Our competitive edge
Human resources: Our competitive edge Ratio of Technical-Non-Technical Gender Diversity (% of female employee) 7% Drilling & 3.99 cementing 7.9 Engineers 3.83 7.8 3.74 3.65 7.5 7.5 3.53 7.3 7.4% Geoscientists FY'20 FY'21 FY'22 FY'23 FY'24 FY'20 FY'21 FY'22 FY'23 FY'24 Total Regular Workforce 25,315
Slide 23: Global outreach
Global outreach E&P Beyond Oil & Gas • Exxon Mobil • Equinor • Chevron • Shell • Total Energy • Shell • BP Co-creation Operations Digitization • Schlumberger • SAP S4 HANA • Halliburton • Digital Center of • Beicip Franlab Excellence • GCA • PWC 23
Slide 24: Presentation overview
Presentation overview 1 Standalone performance 2 Consolidated performance 3 Growth pursuits 4 Responsible Corporate 5 Subsidiaries & JVs 24
Slide 25: ESG practices: Committed towards conserving climate
ESG practices: Committed towards conserving climate Regular Greenhouse Gas (GHG) inventory accounting and disclosures on Scope-1 and Scope-2 emissions Implemented 15 Clean Development Mechanism (CDM) Projects 2.2 million Certified Emission Reductions Fresh water conservation: Water foot printing, Ra
Slide 26: ESG practices: Committed towards society and ethical work practices
ESG practices: Committed towards society and ethical work practices • One of the first companies to issue separate CSR Guidelines in 2009 Social: • CSR activities aligned with needs of Committed to community in respective geographies social welfare • Every CSR project benchmarked to UN and inclusion
Slide 27: Corporate social responsibility: Leader in CSR spending
Corporate social responsibility: Leader in CSR spending ONGC promotes healthcare, education, skill Total spend in last 5 yrs. > 2700 Cr. development, women empowerment & reducing Avg. Annual CSR Expenditure = ₹ 540 Cr inequality, environment sustainability and other initiatives through its CSR activ
Slide 28: Championing Sports in the Country
Championing Sports in the Country ONGCians participated in Paris Olympics 2024 Recognitions and Awards in 2023 Ms. M.R. Poovamma (Athletics), H.S. Prannoy (Badminton), ONGC Scholarship players Aishwarya Pratap Singh – Shooting & Ms. Antim Panghal – Wrestling were conferred Arjuna Award. Ms. Ashwini
Slide 29: Presentation overview
Presentation overview 1 Standalone performance 2 Consolidated performance 3 Growth pursuits 4 Responsible Corporate 5 Subsidiaries & JVs Add a footer 29
Slide 30: Global footprint of ONGC Videsh
Global footprint of ONGC Videsh Discovered/ 32 projects in 15 countries Producing: 14 Exploration: 11 Pipeline: 3 Developing: 4 Russia BU Russia 3 AP BU Colombia BU Vietnam 1 1 Colombia 1 3 Myanmar 2 2 2 Bangladesh 2 LAC BU Venezuela 1 1 MENA-CIS BU MOZAMBIQUE BU Brazil 1 1 Azerbaijan 1 1 Mozambique
Slide 31: ONGC Videsh
• Recognized as a Navratna CPSE on 3rd Aug 2023 by GOI • Production increased from 10.171 MMTOE in FY’23 to 10.518 MMTOE in FY’24 • Crossed 200 MMTOE cumulative production mark during FY’24 • Raised USD 920 million Syndicated Term Loans in 2 tranches at most competitive rates CPO5 • Operated project
Slide 32: ONGC Videsh: FY'24 Performance
ONGC Videsh: FY’24 Performance 2P Reserves (MMToE) Oil and Gas Production (MMToE) 495 485 476 12.33 10.17 10.52 4.23 302 298 296 3.82 3.34 8.09 6.35 7.18 193 187 180 FY'22 FY'23 FY'24 FY'22 FY'23 FY'24 Gas Oil Gas Oil 1. Includes proportionate share of Sakhalin Production Turnover (₹ Crore) PAT (₹ C
Slide 33: Hindustan Petroleum Corporation Ltd. (HPCL)
A Maharatna Schedule “A” CPSE Achieved highest ever refining thruput of 22.33 Million Metric Tonnes (MMT) Recorded Highest ever Market Sales of 46.82 MMT Achieved milestone of 22,000+ Retail Outlets Hindustan Petroleum HPCL also owns India’s largest Lube Refinery in Mumbai HPCL owns and operates Ref
Slide 34: HPCL: FY'24 Performance
HPCL: FY'24 Performance Throughput (MMT) GRM ($/BBL) 19.09 22.33 12.09 13.97 9.08 7.19 FY’22 FY’23 FY’24 FY’22 FY’23 FY’24 Revenue from Operations (₹ Cr.) PAT (₹ Cr.) 466,192 461,638 14,694 373,897 6,383 FY’22 FY’23 FY’24 -8,974 FY’22 FY’23 FY’24 34
Slide 35: MRPL (A Miniratna CPSE)
Throughput in FY’24 16.59 MMT Achieved revenue of Rs. 1,05,223 crore during FY’24. Registered GRM of US$ 10.36/bbl in FY’24. ₹ 5,058Crore reduction in interest bearing Long Term Borrowings: (i.e. ₹ 14,837 Cr. on March 31, 2023 to ₹ 9,779 Cr. on March 31, 2024). Debt Equity Ratio improved from 1.70 t
Slide 36: MRPL: FY'24 Performance
MRPL: FY'24 Performance Throughput (MMT) GRM ($/BBL) 17.14 16.59 9.88 10.36 15.05 8.60 FY’22 FY’23 FY’24 FY’22 FY’23 FY’24 XXXX Revenue from Operations(₹ Crore) PAT (₹ Crore) 124,736 105,223 2,955 3,596 86,094 2,638 FY’22 FY’23 FY’24 FY’22 FY’23 FY’24 36
Slide 37: OPaL
OPaL operated at average 92% capacity in FY’24 Earned revenue from operations of Rs. 14,307 crore during the year FY’24 as against Rs. 14,593 crore during FY’23 OPaL has sold 1769 KT of Polymers and Chemicals during FY24. Reported EBIDTA of Rs. (479) crore in FY’24 GoI has approved additional Rs 18,
Slide 38: OTPC
A Joint venture with Govt. of Tripura Power generation of 4368 MU in FY24 as compared to 4741 MU in FY23 Average Plant Load Factor (PLF) was 70.8 in FY24 as compared to 77 in FY23 Earned revenue from operations of Rs. 1,547 crore and PAT of Rs. 70 crore Paid interim dividend of Rs. 0.20 per share in
Slide 39: Petronet MHB Limited (PMHBL)
Achieved throughput of 4.05 MMT in FY24. Capacity utilization for FY 2023-24 period was 72% of total capacity of 5.60 MMTPA Earned revenue from operations of Rs. 186 crore and PAT of Rs. 96 crore Paid interim dividend of Rs. 1.635 per share in FY 24 Petronet MHB Limited (PMHBL) Pipe line company, ca
Slide 40: Indradhanush Gas Grid Limited (IGGL)
Actual Physical progress is 80.40% Actual Financial progress is 65.17 % VGF of Rs 1043.3 Crore (Cumulative Rs 3601.83 Crore) received by IGGL in FY 2024 and fully utilized. ONGC invested Rs. 24.36 crore in FY 23-24 ,total investment Rs. 222.36 crore so far. Indradhanush Gas Grid Limited (IGGL) 40
Slide 41: Thank You
ThankYou 41
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