ONGC Share Price Target 2025-2030: Analysis & Forecast – What does the future hold for ONGC? In this detailed analysis, we forecast the share price of Oil and Natural Gas Corporation (ONGC) from 2025 to 2030 using a fundamental approach. As of April 2025, ONGC shares are trading at ₹230.37 on the NSE, and our analysis suggests that the price target for 2025 could be around ₹302.00, while by 2030 it might reach as high as ₹532.00. Investors should stay updated with the latest ONGC news and stock market developments for the best insights.
Latest ONGC Share Price News
On April 12, 2025, following an unexpected increase in global oil output by OPEC+ combined with new U.S. import tariffs, crude oil prices fell below $70 per barrel. As a result, ONGC shares dropped approximately 7% in that day’s trading session. Jefferies Research has projected a potential rise of up to 56%, with a price target near ₹375, driven by improved production and shifts in crude and gas pricing policies. Additionally, discussions involving Saudi Aramco, Bharat Petroleum, and ONGC indicate strategic moves in refining capacity, while ONGC Videsh continues its investment in global LNG projects.
ONGC Overview & Revenue Breakdown
ONGC is India’s largest exploration and production company, playing a critical role by supplying about 71% of India’s crude oil and 84% of its natural gas. As a Maharatna public sector enterprise, ONGC operates across the complete hydrocarbon value chain, from exploration to marketing.
- Crude Oil Revenue: 66.68%
- Natural Gas Revenue: 24.26%
- Value-Added Products: 9.06%
In terms of business segments, refining contributes the majority, followed by exploration, with smaller portions coming from petrochemicals and other services. The vast majority of its revenue comes from the domestic market.
Also read: Reliance Industries Share Price Target & Forecast 2025, 2026, 2027 to 2030
ONGC Share Price Analysis
Currently trading at approximately ₹230.37 on both the NSE and BSE, ONGC has a market capitalization of ₹311,802.19 crore. The stock’s P/E ratio stands at 7.86, which is significantly lower than the sector average of 14.36—implying an undervalued status. Among 31 analysts covering ONGC, about 67.74% recommend a “buy,” while 12.90% suggest a “sell” and 19.35% believe in a “hold” stance.
Over the last five years, ONGC’s stock has delivered an impressive 30% CAGR, outperforming the S&P BSE Sensex growth rate of 21.9%. However, while the revenue and net profit have shown CAGRs of 7% and 10% respectively, the company’s debt has risen significantly from ₹46,385 crore in March 2024 to ₹1,20,610 crore in September 2024.
ONGC Share Price Target by Brokerage
Different brokerages have set varied price targets for ONGC:
- Geojit BNP Paribas (Mar 07, 2025): ₹261.00 (Upside: 15.48%)
- Emkay (Feb 04, 2025): ₹310.00 (Upside: 37.16%)
- Prabhudas Lilladhar (Feb 04, 2025): ₹288.00 (Upside: 27.43%)
- Motilal Oswal (Feb 03, 2025): ₹305.00 (Upside: 34.95%)
These targets provide a diversified perspective on the market’s outlook for ONGC in the near term.
ONGC Share Price Target 2025-2030
Based on our analysis, ONGC’s projected share prices are as follows:
| Year | Price Target | Percentage Upside (%) |
|---|---|---|
| 2025 | ₹302.00 | 33.62 |
| 2026 | ₹338.00 | 49.55 |
| 2027 | ₹379.00 | 67.69 |
| 2028 | ₹424.00 | 87.60 |
| 2029 | ₹475.00 | 110.17 |
| 2030 | ₹532.00 | 135.39 |
The forecast indicates robust growth over the five-year period. Strategic initiatives like increasing oil production by 10–12% annually (with the Mumbai High field playing a crucial role), enhanced technical service contracts, and new investment in renewable energy are pivotal to this outlook. Despite a few challenges including a slight decline in oil production over the past five years and delays in deep-water projects like KG-98/2, ONGC’s diverse portfolio and future investments in renewables (targeting 10 GW capacity by 2030) will help stabilize and boost growth.
Historical & Financial Performance
Over the last five years:
- Stock CAGR: Approximately 30%
- Revenue CAGR: Around 7%
- Net Profit CAGR: Near 10%
These figures depict a stable yet gradually evolving performance, reflecting both growth potential and challenges due to rising debts and macroeconomic shifts.
Peer Comparison & Shareholding Pattern
An analysis of ONGC alongside its peers shows that the stock is undervalued relative to the overall industry. Changes in the shareholding pattern and increased domestic demand further support the bullish forecast. Keeping an eye on the shareholding dynamics is crucial for long-term investors.
Conclusion
The outlook for ONGC from 2025 to 2030 appears promising, with our forecast indicating a substantial increase in share value. Key drivers such as increased oil production, strategic investments in renewable energy, and favorable domestic market conditions are expected to drive this growth. Investors should remain vigilant and monitor updates on the company’s performance, policy changes, and global market dynamics. While risks exist, ONGC’s strong market position and diversified strategy could well transform challenges into growth opportunities. As always, it is advisable to stay informed and consider professional financial advice before making any investment decisions.
Risk Disclaimer: Stock prices can be volatile. Investors should carefully assess their financial situation and consult a professional financial adviser before making any investment decisions. Past performance is not indicative of future results.