Oil and Natural Gas Corporation (ONGC) Ltd is consideredas the biggest profit making company of the country. ONGCis the only fully-integrated E&P Company in India, operatingalong the entire hydrocarbon value chain. It contributes over 80 per cent of Indian’s oil and gas production.Finance is considered to be the lifeblood of everyorganization and in an organization like ONGC whereoperation is enormous, nature of the business is complex andexpenditure involvement is huge, the role of Finance is of very special significance. The financial performance isreflected in the effective deployment of funds in fixed assetsand in current assets. It also helps in estimating the short-term and long-term requirement of funds to assess thefinancial position of the company.So, the study is conducted at ONGC and is purely based onthe financial statements of the organization during the last 5years. This financial analysis throws light on the differentactivities such as drilling, production, transportation,distribution as well as working capital management of ONGC thereby identifying the strengths and weaknesses of the organization.