ONGC share price: Should you buy or sell the stock post Q4 results, dividend announcement?

Stock Market Today: ONGC share price was range-bound during the morning trade on Thursday, following the announcement of the March quarter (Q4) results for the financial year 2024-25 (FY25).

During the trade so far, ONGC stock hit the day's high of ₹250.50 and a low of ₹244.10 on the BSE.

ONGC Q4 results

The company, post market hours on Wednesday, reported a consolidated net profit for the fourth quarter of FY25 at ₹8,856 crore, down 20.2% year-on-year (YoY) compared to ₹11,096 crore posted in the same period a year ago.

The gross revenues reported by ONGC for the January-March 2025 quarter stood at ₹1,70,812 crore, compared to ₹1,72,137 crore reported in the year-ago quarter, recording a fall of 0.8%.

The impact of the decline in crude prices was visible on ONGC's Q4 performance, while some one-offs also impacted the net profits.

The standalone net profit for the quarter stood at ₹6,448 crore, which declined 20% sequentially and 35% YoY. The annual net profit reached ₹35,610.32 crore.

ONGC reported standalone revenue from operations of ₹34,982 crore for the quarter ended March 31, 2025, and ₹137,846.29 crore for the full financial year 2024-25.

ONGC analyst views post Q4

ONGC's standalone earnings before interest, tax, depreciation and amortisation (EBITDA) at ₹18,968 crore (up 9% YoY and flat sequentially) was marginally below Jefferies' estimates, with production and realisations inline with their estimates. Meanwhile, the net profit was 31% below Jefferies' estimates on higher exploratory well write-offs.

Consolidated EBITDA at ₹27,211 crore, however, was 14% ahead of Jefferies' estimates on the back of a strong showing by HPCL (subsidiary). The net profit at ₹8856.3 crore was 3% below estimates, owing to the elevated write-offs. Daily crude and gas production has risen for the second successive quarter.

Jefferies currently has a price target of ₹375 for ONGC shares. This, however, may be adjusted by Jefferies following the analysts' meet.

ONGC share price: Technical View

ONGC share price is consolidating just below the neckline of a 35-day bullish cup and handle pattern, with the pivot breakout level placed at ₹255, as per Anshul Jain, Head of Research at Lakshmishree Investments. 

“A high-volume breach above 255 could propel the stock toward 280, with an intermediate resistance at the previous swing high of 268.15. While the volumes aren't institutional-grade, they remain broadly accumulative, supporting the bullish setup. A breakout above 255 will likely attract momentum traders and trigger fresh upside,” Jain said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.