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Financial Management Project Report
By Ashwini Reddy Chaitanya Mella
the Soviet Union. Foundation to 1961: During the pre-independence period. The major part of Indian sedimentary basins was deemed to be unfit for development of oil and gas resources.000 kilometers of pipelines in the country. Until 1955. In 2010. Consequently. private oil companies mainly carried out exploration of hydrocarbon resources of India. .14% equity stake. A delegation under the leadership of Mr. The vast sedimentary tract in other parts of India and adjoining offshore remained largely unexplored. ONGC was founded on 14 August 1956 by the Indian state. In 1955. India. ONGC is one of the largest publicly traded companies by market capitalization in India and the largest Indiabased company measured by profits. it was ranked 18th in the Platts Top 250 Global Energy Company Rankings and 413th in the Fortune Global 500. as a subordinate office under the then Ministry of Natural Resources and Scientific Research. Government of India decided to develop the oil and natural gas resources in the various regions of the country as part of the Public Sector development. The department was constituted with a nucleus of geoscientists from the Geological survey of India. Experts from Romania. which placed mineral oil industry among the schedule 'A' industries.Genesis Oil and Natural Gas Corporation Limited (ONGC) (NSE: ONGC. with minimal exploration input. the Assam Oil Company in the north-eastern and Attock Oil company in north-western part of the undivided India were the only oil companies producing oil in the country. K D Malviya. the development of petroleum industry in the country was considered to be of utmost necessity. which currently holds a 74. and produces around 77% of India's total crude oil production (and around 30% of total demand) and around 81% of natural gas production. the future development of which was to be the sole and exclusive responsibility of the state. In April 1956. (a 50% joint venture between Government of India and Burmah Oil Company) was engaged in developing two newly discovered large fields Naharkatiya and Moraan in Assam. the national Government realized the importance oil and gas for rapid industrial development and its strategic role in defence. visited several European countries to study the status of oil industry in those countries and to facilitate the training of Indian professionals for exploring potential oil and gas reserves. In West Bengal. while framing the Industrial Policy Statement of 1948. the Government of India adopted the Industrial Policy Resolution. With this objective. the United States and West Germany subsequently visited India and helped the government with their expertise. the Assam Oil Company was producing oil at Digboi (discovered in 1889) and Oil India Ltd. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India. Soviet experts later drew up a detailed plan for geological and geophysical surveys and drilling operations to be carried out in the 2nd Five Year Plan (1956-57 to 1960-61). an Oil and Natural Gas Directorate was set up towards the end of 1955. the-then Minister of Natural Resources. After independence. and owns and operates over 11. BSE: 500312) is an Indian state-owned oil and gas company headquartered in New Delhi. It is one of the largest Asia-based oil and gas exploration and production companies. the Indo-Stanvac Petroleum project (a joint venture between Government of India and Standard Vacuum Oil Company of USA) was engaged in exploration work. In Assam.
however. following the Indian government's decision to privatize. At this time. organize and implement programmes for development of Petroleum Resources and the production and sale of petroleum and petroleum products produced by it. This discovery. ONGC not only found new resources in Assam but also established new oil province in Cambay basin (Gujarat). to function efficiently. Eighty percent of ONGC assets were subsequently owned by the government. After its initial privatization. the Commission was converted into a statutory body by an act of the Indian Parliament. As a consequence of the successful privatization. In October 1959. ONGC went offshore in early 70's and discovered a giant oil field in the form of Bombay High. Subsequently. A turning point in the history of India’s oil sector was in 1994. The most important contribution of ONGC. In the inland areas. the ONGC. The corporation's net worth of 107. it became apparent that it would not be possible for the Directorate with its limited financial and administrative powers as subordinate office of the Government. ONGC had authorized capital of 150 billion: it also met its need to raise 35 billion to invest in viable oil and gas projects. ONGC has been instrumental in transforming the country's limited upstream sector into a large viable playing field. ONGC applied to purchase of 2000 acres of land at Dahanu to process offshore gas. were discovered. 1956. were "to plan. The successfully formulated and implemented privatization strategy put ONGC at par with other large multinational and domestic oil companies. ONGC became a publicly held company as of February 1994. assign to it ". along with subsequent discoveries of huge oil and gas fields in Western offshore changed the oil scenario of the country. 1961 to 2000: Since its inception. after the formation of the Oil and Natural Gas Directorate. So in August. it was brought to the forefront by the privatization of India's leading oil E&P organization. The act further outlined the activities and steps to be taken by ONGC in fulfilling its mandate. in addition to its intangible assets. . if loans were to be granted for development of two ONGC projects. and US$300 million for the gas flaring reduction project in the Bombay Basin. making it only the second Indian company (alongside State Bank of India) to have such a coin issued in its honour. the loans were granted—US$267 million for development of Gandhar Field.Soon. while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins (both inland and offshore). is its self-reliance and development of core competence in E&P activities at a globally competitive level. from time to time. with its activities spread throughout India and significantly in overseas territories. ONGC employed 48.34 billion.000 people and had reserves and surpluses worth 104. and to perform such other functions as the Central Government may. In 2011. 2000 to present: In 2006 a commemorative Coin set was issued to mark the 50th anniversary of the founding of ONGC. which enhanced powers of the commission further. now known as Mumbai High. The Asian Development Bank (ADB) had also set a deadline for privatizing and restructuring at 30 June 1994. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act. Simultaneously. promote. although it continued to be under the government.77 billion was the largest of any Indian company. While the oil sector was on the backburner of India's political realm for some time. there were steps taken for the enhancement of production on the Bombay High oil fields as the result of a 150 billion development investment. the Directorate was raised to the status of a commission with enhanced powers. One of Asia's largest oil E&P companies. over 5 billion tonnes of hydrocarbons. which were present in the country. the other 20% were sold to the public.
Norsk Hydro’s experience in various offshore projects and their capabilities in providing high-tech solutions. signed on the dotted lines on behalf of the Norwegian producer. especially the ‘Protocol of Intent’ signed between ONGC and Norsk Hydro in Norwegian capital Oslo on 1st September 2005.8 per cent from 2005. ONGC (3929. especially in Deepwaters and rough seas.5 million US Dollars).807 in 2006. during the visit of a high-level Ministerial delegation headed by the then Minister of Petroleum & Natural Gas. The other three parameters assessed by the CNN-Time Warner Group magazine Fortune. of which 26 are in deepwaters and 6 in shallow-waters. up 12. ONGC looks forward to sharing the technological edge and experience of Norsk Hydro on development and production from Deepwater and Ultra-Deepwaters. ONGC has 100 per cent Participating Interest in 12 blocks and the balance is with others having various Participating Interests. In Profits. with a figure of 15. In ‘Assets’. but will also help ONGC acquire sophisticated technology for completion of deepwater wells. Director (Exploration). (ONGC) has moved up 33 notches to 369. for which ONGC will pay Norsk Hydro 7 million US Dollars. are ‘Assets’. ONGC has been ranked 6th globally in 2007 rankings. up from 402 in the previous year. with comfortable margins. Norsk Hydro is Norway’s state-run Oil company.237. Of the 26 deepwater blocks. ONGC ties up with Norsk Hydro to develop Indian Deepwater Oil & Gas blocks An agreement. With employee strength of 34. It has been ranked 196 (a close 2nd in India) in ‘Stockholders’ Equity’.359. This agreement is the culmination to a run-up of events.8 million US Dollars.348. in the 2007 edition of Fortune Global 500 list.9 per cent) maintains its top rank from India. . in New Delhi. knowledge and confidence to produce from deep-sea acreages. The Norwegian firm may go for Participating Interest in more NELP blocks once they examine the data in the next six months. ONGC is ranked 121st in Profits this year. has been signed on 2nd July 2007. and ‘Thin Oil development and Production in Vasai East. After making a debut in the turnoverbased annual Fortune Global club two years ago (with a rank of 459). however. In the Mining and Crude-Oil Production industry. for cooperation in some Deepwater blocks off Cuban Republic and Middle East. up from 9th previous year. The annual revenue of ONGC considered for the current assessment (2006) is 19. D K Pande. thanks to its advancing topline during the last two years. Tore Torvund. Norsk Hydro agrees to acquire a Participating Interest of 10 per cent for the deepwater block KG-DWN-98/2 in Krishna-Godavari. 3rd among the 6 Indian corporations listed in Fortune. up 15. ONGC has been moving up steadily. specializing in world-class project execution skills. Executive Vice President of Norsk Hydro. ONGC has 32 offshore exploration blocks under NELP. inked the agreement on behalf of ONGC and Mr. Overall. will be particularly useful to solve the challenges in Vasai East.Oil and Natural Gas Corporation Ltd. credited with giving the Norwegian petroleum industry a global stature in offshore business in the past four decades. 12 are in ultra-deepwaters. ‘Stockholders’ Equity’ and ‘Employees’. Director (Offshore) and Mr. N K Mitra. on Revenues. ONGC has been placed at 366 under ‘Employees’. with an investment cap of 26 million US Dollars during appraisal phase and with an option to increase it by another 10 per cent. it was ranked 115th last year. ONGC is 5th in the Indian Fortunate brigade of 6 companies. Mr. envisaging cooperation between the two oil giants for developing the continental shelf of India.2 million US Dollars. The support and cooperation with strategic partnership with Norsk Hydro will not only help ONGC to build up the technology. ONGC has been ranked 335 (with Assets worth 25.4 million US Dollars. 4th among Indian entries in Fortune.
Highest-ever turnover at Rs. up 15% from Rs.525 crore. .54 MMT.372 crore. The economic downturn did not impact the company's investment plans as reflected in highest ever capital expenditure of Rs 21. Highest capacity utilization among all Indian Refineries. As part of intensified exploration to create new oil and gas assets.81 million tonnes of oil equivalent of inplace hydrocarbons reserves. 94 per cent of this was in the core activity of exploration and production.2006-07 Highest-ever Refinery Crude Thruput at 12.28.243 crore.820 crore in 2008-09. up 4% from 125%.12 MMT (in 2005-06) Highest-ever capacity utilization at 129%.Highlights of Audited Results for Financial Year .377 crore . up 3% from 12. ONGC in 2008-09 fiscal accreted 284. up 41% from Rs. the highest in the last two decades.32. Net Profit at Rs.
He has diverse and rich experience of more than three decades in various fields majority being in offshore oil-fields. development of financial management information and control systems. Ltd. He was steering the Offshore Joint Venture segment of ONGC's Operations and trying to improve recovery from ageing Mumbai High fields. K. . He has also served in Oil India Limited and OVL. Sarraf joined ONGC in September 1991 and has. He is also a member of the Institute of Cost and Works Accountants of India and the Institute of Company Secretaries of India. Vasudeva joined ONGC as an Executive Trainee in 1976 and steadily worked his way up with majority of his assignments in offshore oil-fields. Sarraf is responsible. since then. Vasudeva served as Director of Offshore at Oil and Natural Gas Corp. He has been a Nominee Director at Petronet Lng Limited since November 21. He serves as Chairman of the Board of Mangalore Refinery and Petrochemicals Ltd. Sharma Chairman Shri. treasury management and ensuring sound corporate governance practices. Shri. S. He was President of Mumbai arm of Society of Petroleum Engineers (SPE). 2009. 2009. since February 1. inter alia. and serves as its Head of offshore oil and gas fields. Mr. 2011. K. Shri. handled various assignments in ONGC. Ltd. Vasudeva is a Chemical Engineer (Gold Medalist) and holds a Post-Graduate Diploma in Management. Hazarika Chief Financial Officer: D. appraisal of capital expenditure and investment proposals. He has been an Additional Director of Oil and Natural Gas Corp. Sudhir Vasudeva has been the Chairman and Managing Director of Oil and Natural Gas Corp. D K Sarraf (54) holds a Bachelor’s degree and a Master’s degree in Commerce from the University of Delhi. He serves as a Director of Pawan Hans Helicopters Ltd. He has been a Director of ONGC Videsh Limited since March 3. Sarraf Chief Executive Officer: R. 2009. Sarraf has 28 years of experience in the petroleum and natural gas sector and has served in the Oil Coordination Committee under the MoPNG. since February 1.Key People Chairman: Sudhir Vasudeva Managing Director: A. As Director (Finance) of ONGC. He has been a Director of Mangalore Refinery and Petrochemicals Ltd. Shri. Mr.. Ltd since February 1. Mr. 2009. Director of Finance/Chief Financial Officer Mr. for formulating strategic financial policies and implementation thereof.
38 Crore. 888.52 Crore. 26. March 21.630. out of which the Govt.5/. The total payout on that account had been Rs.32 Crore. 2012. Market capitalization was Rs.23 .Dividend Decisions ONGC Board in its 229th Meeting held on March 15. 490. ONGC Board had approved an Interim dividend of Rs. 2. 5. 3. The total payout on this account will be Rs.347. 2012 has already been intimated to the Stock Exchanges on February 14.03. of India received Rs. 6.8.964. The intimation of Record date of March 20. 555.94. 2012 and payment of the Interim Dividend to the shareholders shall start from Wednesday.36 Crore. 2012 onwards.(Rupees one and Paise fifty only) per equity share of Rs. 072. of shares . EPS = Rs.20 Crore. 120) for the Financial Year 2011-12.25/. 277. out of that the Govt. 6. 1. 2012. Total Payout on account of interim dividend stands at Rs. 5 (no. The Record Date for the same has already been fixed for March 20. of India will receive Rs. P/E ratio = 10. 1075.52 Crore plus the Dividend Tax of Rs. 2012 has approved second interim dividend of Rs. 1283. Earlier on January 4. Dividends Declared Announcement Date 15-02-2012 02-12-2011 31-05-2011 01-12-2010 31-05-2010 30-11-2009 25-06-2009 05-12-2008 25-06-2008 26-11-2007 25-06-2007 Effective Date Dividend Type Dividend (%) 19-03-2012 Interim 06-01-2012 Interim 18-08-2011 Final 20-12-2010 Interim 09-09-2010 Final 22-12-2009 Interim 11-09-2009 Final 23-12-2008 Interim 08-09-2008 Final 26-12-2007 Interim 10-09-2007 Final 30% 125% 15% 320% 150% 180% 140% 180% 140% 180% 130% The share price of ONGC stood at 266.15 as on 20 th April 2012.(Rupees six and Paise twenty five only) per equity share for 2011-12.
Discovery of gas in this well has given a new boost to exploration for hydrocarbons in this CategoryIII basin after first discovery of gas reported in 1991 in well Jabera-1.Investment Decisions Early monetization of C-23. two E&P majors have signed a Memorandum of Understanding (MoU) for cooperation in exploration and development of shale resources in India.17 Crore. This discovery of hydrocarbon in the south of GK-28 discovery has opened up scope of further exploration in the region and will help in early monetization.&B-12-1) fields of phase III of approved development projects scheme of C-series. interval 1372-69 m in Nakhatrana formation of Paleocene age flowed gas.81 million cubic meter respectively by 2024-25. the unprecedented growth of shale gas in the US has generated new hopes for all the energy deficient countries with shale resources emergence as a major supplement to conventional fuels. The well was drilled down to a depth of 1850m. USA. On conventional testing. The cooperation between the two majors is expected to accelerate the learnings in shale gas for the . The project involves three well head platforms. situated northeast of Nohta town in Damoh district approximately 230 km in the east from Bhopal. C-26 & B-12-1 fields Board in its meeting approved advancement of development of C-26 Cluster (consisting of C-23. associated facilities and pipeline. The discovery is significant as it is in one of the oldest sedimentary sequences of Proterozoic age. drilling and completion of 8 wells and conversion of old drilling rig Sagar Pragati (of 1981 vintage) to Mobile Offshore Production Unit (MOPU). Well GK-42-1 in Kutch Offshore Prospect GK-42-1 was released in Kutch Block-1 Extension nomination block of Kutch Offshore. The cumulative gas and condensate production from this project will be 16. 2011 was drilled down to 1470m. ONGC MoU with ConocoPhillips Oil and Natural Gas Corporation Limited. one interval from 1702 to 1727m was identified for barefoot testing. ConocoPhillips has extensive experience in the field of shale gas exploration and exploitation in the US and holds large acreage position. The prospect is situated in shallow water depth of 30 m at a distance of about 50 km from the coast (Okha Port in Gujarat). At a time when the world is witnessing nearly static reserve growth from conventional resources. New Prospect discoveries Well Nohta-2 in Vindhyan Basin Well Nohta-2 was drilled in nomination block DamohJaberaKatni falling in the state of Madhya Pradesh. C26. while ONGC's endeavour in shale gas is at a nascent stage. Another interval in Jakhau formations on MDT gave gas. India and ConocoPhillips.67 bcm and 2. Conventional testing of Jakhau formation is yet to be done. Based on the analysis of well data and logs recorded in the well. North America and elsewhere besides deepwater opportunities in Eastern offshore India. This advancement will help realizing production starting pre monsoon 2014 instead of 2018 envisaged earlier. The well spudded on December 31. This envisages estimated capital cost of 2592.
Oil and Natural Gas Corp Board approved the transaction. ONGC has already paid out Rs 5300 crore as interim dividend in January. The Memorandum of Understanding signed between ONGC and ConocoPhillips on 30th March 2012 in Mumbai will promote stronger technical and business cooperation. its majority owner even after the stake sale. both companies also aim to explore possible cooperation in Deepwater areas in Eastern Offshore of India. which has a large cash balance (Rs 27400 crore on September 2011). (BSE: 500312) agreed to acquire remaining 10% stake in KG-DWN98/2 Block from Cairn India Ltd (BSE: 532792) on December 21. North America. While the shares were trading around Rs 286 a piece. It said that the government's plans to use public enterprise cash balances to manage the gap between expenditure and revenue. In addition." it said. "Poor private interest in the shares of one of India's largest firms (by market capitalization and profits) is credit negative for the Indian government.767 crore. and elsewhere. The companies intend to initiate the cooperation in shale gas exploration through joint studies of opportunities in India. Krishna Godavari Basin Block KG-DWN-98/2 Oil and Natural Gas Corp.3 percent and fetched the government Rs 12. This cooperation heralds an exciting new chapter in ONGC's continuing saga of hydrocarbon exploration in India and abroad towards achieving energy security for sustaining India's booming economy. Ltd. 2011. could be induced to pay out higher dividends to the government. Disinvestment On March 1 the government had auctioned 5 percent of its stake in ONGC.mutual benefit of both the companies. as much as 84 percent of the shares on the block were bought by state-run LIC. Although the issue was subscribed 98. Moody's said that one of the reasons for investors staying away from the ONGC auction was that the shares were priced higher than the market price. the government fixed the floor price for auction at Rs 290. Investors were also concerned that ONGC. Investors also raised concern that ONGC's profitability could be imperiled by the government's energy subsidy policy and its plans to employ the cash balances of public enterprises to shore up government finances. .
721.42 5.735.44 5.032. Depreciation Net Block Capital Work in Progress Investments Inventories Sundry Debtors Cash and Bank Balance Total Current Assets Loans and Advances Fixed Deposits Total CA.159.98 21.76 0 0 93.61 57.99 37.50 10.839.89 0 0 0 0 2.405.06 5.311.596.85 8.71 15.899.060.79 17.353.765.57 26.25 94.71 15. ------Balance Sheet -----------Mar '11 12 mths Sources Of Funds Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Networth Secured Loans Unsecured Loans Total Debt Total Liabilities 4.083.34 0 35.154.80 161.964.710.17 39.033.033.518.23 8.04 87.63 113.46 30.37 269.89 0 0 0 0 Mar '10 12 mths Mar '09 12 mths Mar '08 12 mths Mar '07 12 mths 85.55 8.648.19 25.090.405.138.06 1.64 282.906.9 514.71 69.64 16.00 95.934.84 4.38 10.138.157.62 56.198.76 4.945.50 24.67 0 97.253.64 16.138.08 24.512.820.08 368.938.835.44 27.62 24.138.7220.127.116.110.058.37 89.26 17.941.772.110.828.53 58.639.07 55.16 63.03.03.092.19 41.89 2.138.354.53 26.32 650.299.384.702.73 34.204.78 61.90 356.678.25 52.61 673.78 52.480.69 1.51 59.244.143.073.03 71.024.118.178.07 16.31 34.99 57.321.504.12 5.70 12.854.------------------in Rs.95 5.105.226.03 4.854.784.09 44.948.979.905.89 2.76 2.40 61.98 Contingent Liabilities Book Value (Rs) 38.59 841.12 83.91 22.98 3.12 330.52 .564.360.11 77.70 12.463.945.618.104.22.168 83.89 2.94 19.006.482.43 0 17.93 16.57 3.55 65.64 4.16 289.32 4.482.138.60 62.26 Mar '11 2.020.11 59.00 Application Of Funds Gross Block Less: Accum.11 22.282. Cr.70 1.53 68.553.17 408.43 19.84 796.771.77 43.845.74 22.692.14 83.038.923.05 3.355.20 64.90 55.693.12 83.165.785.759.068.15 25.109.277.138.478.63 37.775.67 4.336.482.564.50 3.138.090.43 64.332.15.02 38.72 76.48 8.05 18.035.688.89 0 0 0 0 22.214.171.124 8.305.78 0 0 0 0 27.89 0 0 0 0 2.068.414.01 5.794.42 70.61 78.688.19 70.25 94.657.54 36.95 15.277.28 50.12 77.23 46. Loans & Advances Deffered Credit Current Liabilities Provisions Total CL & Provisions Net Current Assets Miscellaneous Expenses Total Assets 80.18 18.89 2.07 Mar '10 Mar '09 Mar '08 Mar '07 1.97 39.923.035.601.
65 0 7.85 30.618.831.407.26 18.754.51 15.00 16.61 32.39 1.41 24.205.32 16.811.430.43 28.133.14 310 289.38 4.07 30.08 75.6 6.16 73.73 21.393.12 78.470.424.236.66 23.68 27.258.91 218.286.41 41.88 3.68 285.924.89 6.77 0 607.028.73 21.09 320 330.486.14 11.107.161.06 24.09 45.085.536.470.657.983.016.79 66.48 57.20 0 6.76 -16.78 0 947.99 60.926.7 1.843.629.11 276.000.73 126.96.36.199 25.76 24.424.81 3.51 . Cr.767.01 0 547.913.355.098.041.242.02 34.974.27 8.27 8.431.97 78.82 19.56 16.915.78 5.487.554.657.524.78 -2.616.065.985.667.77 68.33 27.29 4.701.43 28.012.28 1.-----------------.126.18 2.164.276.74 0 -560.7 9.25 8.49 25.06 31.799.642.05 1.88 10.941.011.630.905.000.547.40 4.99 8.689.1 401.15 5.668.757.96 118.49 17.59 81.04 0 983.21 492.80 0 -564.058.51 1.328.565.342.18 64.22 320.844.52 2.34 60.243.84 60.83 33.80 8.76 32.16 270.53 28.34 22.853.578.33 20.28 60.19 60.07 12.51 260.02 23.388.17 322.77 26.73 21.34 11.05 -19.53 5.69 -4.79 4.27 0 188.8.131.528.01 24.615.607.68 8.983.73 3.57 36.66 0 183.235.20 31.18 27.62 40.10 -13. --------Profit & Loss account ---------Mar '11 12 mths Income Sales Turnover Excise Duty Net Sales Other Income Stock Adjustments Total Income Expenditure Raw Materials Power & Fuel Cost Employee Cost Other Manufacturing Expenses Selling and Admin Expenses Miscellaneous Expenses Preoperative Exp Capitalised Total Expenses Operating Profit PBDIT Interest PBDT Depreciation Other Written Off Profit Before Tax Extra-ordinary items PBT (Post Extra-ord Items) Tax Reported Net Profit Total Value Addition Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Shares in issue (lakhs) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs) 85.292.39 330 408.966.73 22.44 Mar '10 12 mths Mar '09 12 mths Mar '08 12 mths Mar '07 12 mths 71.32 317.20 0 6.724.702.497.78 184.108.40.206 0 790.10 56.68 64.40 0 7.437.85 5.041.in Rs.63 114.466.85 3.04 338.050.46 20.485.338.24 29.003.56 0 6.91 22.4 320 368.445.12 350 113.388.65 0 1.318.375.32 63.77 64.388.288.34 37.844.90 21.170.65 15.253.38 5.39 1.41 3.215.73 66.23 20.652.079.92 22.835.28 3.790.251.163.
75 37.66 49.3 1.12 25.79 27.24 31.2 36.56 1.28 0.22 33.11 37.99 31.54 19.01 404.05 29.2 0.27 0.81 315.19 34.43 26.77 35.4 1.84 83.04 113.66 49.33 77.24 0.14 365.19 0.74 83.84 33.18 .51 40.65 266.35 34.47 41 52.01 91.45 1.66 43.14 365.07 327.54 31.84 26.66 62.39 18.05 23.18 10 33 176.29 20.66 50.36 1.01 34.4 287.97 19.43 33.93 25.83 392.54 1.39 40.8 139.5 47.2 47.57 51.87 23.05 281.11 287.84 83.02 53.22 0.93 36.26 27.97 1.09 42.26 1.Key Financial Ratios Investment Valuation Ratios Face Value Dividend Per Share Operating Profit Per Share (Rs) Net Operating Profit Per Share (Rs) Free Reserves Per Share (Rs) Bonus in Equity Capital Profitability Ratios Operating Profit Margin(%) Profit Before Interest And Tax Margin(%) Gross Profit Margin(%) Cash Profit Margin(%) Adjusted Cash Margin(%) Net Profit Margin(%) Adjusted Net Profit Margin(%) Return On Capital Employed(%) Return On Net Worth(%) Adjusted Return on Net Worth(%) Return on Assets Excluding Revaluations Return on Assets Including Revaluations Return on Long Term Funds(%) Liquidity And Solvency Ratios Current Ratio Quick Ratio Debt Equity Ratio Long Term Debt Equity Ratio Mar '11 Mar '10 Mar '09 Mar '08 Mar '07 5 17.87 33.58 29.5 23.17 404.88 353.41 113.87 35.18 0.95 83.83 61.24 25.39 0.04 33.2 0.5 34.34 108.39 1.18 0.35 26.01 50.77 26.18 25.65 19.09 275.3 23.27 10 32 10 32 10 31 131.24 280.07 327.24 150.7 299.29 1.56 19.
03 17.97 7.34 0.83 0.82 111.64 0.34 20.14 289.73 1.41 5.4 6.48 3.05 0.85 0.94 10.12 45.73 151.87 0.42 15.82 0.34 49.39 5.58 0.31 0.12 113.8 75.05 0.69 22.02 0.2 4.13 17.19 0.36 49.83 50.02 37.36 135.556.69 0.98 33.79 1.94 38.6 60.96 152.12 330.19 3.03 14.67 66.56 408.65 39.27 7.16 .23 6.85 0.78 53.82 0.75 73.17 94.08 1.82 111.77 19.16 1.54 61.61 150.68 1.61 49.36 54.18 4.Debt Coverage Ratios Interest Cover Total Debt to Owners Fund Financial Charges Coverage Ratio Financial Charges Coverage Ratio Post Tax Management Efficiency Ratios Inventory Turnover Ratio Debtors Turnover Ratio Investments Turnover Ratio Fixed Assets Turnover Ratio Total Assets Turnover Ratio Asset Turnover Ratio Average Raw Material Holding Average Finished Goods Held Number of Days In Working Capital Profit & Loss Account Ratios Material Cost Composition Imported Composition of Raw Materials Consumed Selling Distribution Cost Composition Expenses as Composition of Total Sales Cash Flow Indicator Ratios Dividend Payout Ratio Net Profit Dividend Payout Ratio Cash Profit Earning Retention Ratio Cash Earning Retention Ratio AdjustedCash Flow Times Earnings Per Share Book Value 7.98 122.69 19.483.74 1.51 148.25 48.02 14.32 511.21 0.88 11.84 0.95 3.85 40.97 94.6 59.29 10.24 8.08 368.98 122.05 -5.76 273.48 144.77 16.05 0.95 2.83 10.09 48.31 47.23 87.21 4.6 17.11 6.2 16.31 2.09 5.7 23.52 10.1 -4.13 0.03 0.18 6.63 87.64 1.62 78.61 0.58 0.73 5.11 4.41 20.59 62.99 17.330.76 78.87 1.
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