S&P sees 15-20% EBITDA growth for ONGC in FY27 on upstream strength, downstream recovery
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- ✓S&P Global Ratings said on Monday that ONGC could see 15-20% EBITDA growth in FY27.
- ✓This rise comes from strong upstream oil production and a recovery in downstream refining.
- ✓The agency expects steady output to support earnings, even as crude prices change, helping the company maintain a solid financial position.
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- BUSINESS
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- Business Line
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- 3 Minute(s)
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- India Economy
S&P expects ONGC to maintain quarterly domestic oil and gas production of about 10 million tonne, equivalent to 73.5 million barrels of oil, supporting quarterly EBITDA of ₹25,000 crore-₹30,000 crore
Oil and Natural Gas Corp Ltd (ONGC) is poised for an operating recovery over the next six to nine months, supported by higher earnings from its core oil and gas production business and a turnaround in its downstream refining operations, S&P Global Ratings said on Monday.
The ratings agency expects ONGC's consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) to rise 15-20 per cent to ₹1.3 lakh crore-₹1.4 lakh crore in the financial year ending March 2027, driven primarily by upstream operations benefiting from elevated crude prices.
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