What will be the future of Oil and Natural Gas Corporation (NSE: ONGC)? This article forecasts the ONGC share price target for 2025 to 2030 using a fundamental analysis approach. As of April 2025, ONGC shares are trading at ₹250.60 on the NSE. Based on our analysis, the price target of ONGC stock in 2025 can be around ₹302.00. ONGC may reach a price target of ₹532.00 in 2030. Given this forecast, investors should keep track of the current situation with ONGC news and stock market news.
ONGC Share Price Latest News
- ONGC will invest ₹3,500 crore in green energy this year, targeting 10 GW capacity by 2030, and acquisitions like Ayana Renewable Power and PTC Energy have been made. (26 Apr, 2025)
- ONGC is looking for international partners to increase production in its KG-98/2 block, where challenges are coming in deep-water operations. (24 Apr, 2025)
- ONGC is planning to build a 9 mtpa refinery-cum-petrochemical complex near Prayagraj in Uttar Pradesh. (23 Apr, 2025)
- Due to falling production in ONGC’s old gas fields, supply is getting cut, because of which gas prices are increasing. (18 Apr, 2025)
- ONGC has won 15 blocks in the latest Open Acreage Licensing Policy bidding round, in which 11 were won alone and 4 were won together with Reliance and bp. (15 Apr, 2025)
ONGC Overview & Revenue Breakdown
Oil and Natural Gas Corporation Limited (ONGC) is India’s largest crude oil and natural gas exploration and production company. It contributes approximately 71% of India’s total crude oil supply and 84% of natural gas supply. ONGC is a Maharatna public sector company, which works across full hydrocarbon value chain, such as exploration, production, refining, and marketing of petroleum products.
The company generates 66.68% of its revenue from crude oil, 24.26% from natural gas, and 9.06% from value-added products. In terms of business segments, 78.58% of revenue comes from refining, 18.26% from exploration and production, 2.01% from petrochemicals, and 1.15% from other businesses. Geographically, 98.85% of revenue comes from the domestic market, 1.12% from international markets, and 0.03% from other sources.
ONGC Share Price Target by Brokerage
| Date | Brokerage | Price Target | Upside % |
| 07 Mar 2025 | Geojit BNP Paribas | ₹261.00 | 15.48% |
| 05 Feb 2025 | Jefferies | ₹375.00 | 49.64% |
| 04 Feb 2025 | Emkay | ₹310.00 | 37.16% |
| 04 Feb 2025 | Prabhudas Lilladhar | ₹288.00 | 27.43% |
| 03 Feb 2025 | Motilal Oswal | ₹305.00 | 34.95% |
According to Yahoo Finance, the average price target for the ONGC stock is Rs 294.30. Out of 31 Wall Street analysts, 21 have given it a ‘Buy’ rating, 6 have given a ‘Hold’ rating, and 4 have recommended ‘Sell’. The consensus recommendation from 31 analysts is ‘Buy’.
ONGC Share Price Target 2025-2030
| Year | Price Target | Change % |
| 2025 | ₹302.00 | 20.51% |
| 2026 | ₹338.00 | 34.88% |
| 2027 | ₹379.00 | 51.24% |
| 2028 | ₹424.00 | 69.19% |
| 2029 | ₹475.00 | 89.55% |
| 2030 | ₹532.00 | 112.29% |
Based on the estimates, the price target for ONGC is ₹302.00 for 2025, which is a 20.51% upside from the current price. The target for 2030 is ₹532.00, an upside of 112.29%. Below is a detailed outlook and valuation analysis for ONGC.
The company plan exists for an increase in oil production of 10–12% every year from 2026 to 2030, in which the Mumbai High field will play one important role. Reports say the technical services contract with BP results in oil output increasing by 44% and gas output increasing by 89%, which can bring additional revenue up to $10.3 billion in the next ten years. But, in the last 5 years, ONGC faced a decline of 3.2% in oil production and 3.3% in proven reserves. Along with this, delays and revised peak production estimates in the KG-98/2 deep-water project also increase concerns.
Apart from oil and gas, ONGC also plans to increase its presence in renewables, in which a 10 GW renewable energy capacity target exists till 2030. The company acquired Ayana Renewables and PTC Energy, by which its clean energy portfolio reached up to 3 GW, and 288 MW of operational wind power was also added. For energy transition, ONGC plans to invest ₹40,000 crore, in which the focus will be on renewables, petrochemical growth, digital adoption, and improvement in operations. ONGC has a target to achieve net-zero emissions by 2038, and there is an expectation that ONGC Green will generate ₹6,000 crore EBITDA by 2030, out of which ₹3,300 crore is estimated to come from Ayana Renewable alone by FY27. Regarding financial estimates, company revenue may reach ₹6.51 trillion for 2025, and the EPS estimate is ₹40.33.
Historical Performance
Financial Performance
Peer Comparison
Shareholding Pattern
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