Kumar aditya (2016) , “An appraisal of financial solvency of ONGC”.

From the study of five years (2012-

2016) financial data it has found that the profit earning capacity and short term investing capacity of
ONGC is quite good. The study has suggested that the value of EBIT should be high in order to attain a
maximum productivity capacity of assets. Through this study it indicates that the fluctuating trend might
shift the company into a situation of bankruptcy.

Izhar ahmed (2016) , the research paper is authored to entitle the “Analysis of financial performance of
Hindustan Petroleum Cooperation Limited”. This study focuses on the analysis of profitability position,
financial system, profit margin and expenses ratio. This study is based on secondary data for a period of
fifteen years from 2000 to 2015. In this duration of study, the researcher has used multiple regression
analysis for the testing of the hypotheses. In order to measure the impacts of liquidity, solvency and
efficiency on return on investment. The researcher has taken return on capital employed as a
dependent variable under return on investment. This study has suggested that HPCL is required good
strategies for maintaining the profitability in future.

Lavanya and Reddy (2013) analysed the financial performance of Iron

and Steel Industry with the help of Market Value Added Approach and
it is found that the performance of select Iron and Steel units in terms
of profitability cannot be increased unless the interlinked problems like
modernization, cost reduction, control, taxes etc. are solved.

Bhatt (2014) in his study of profitability analysis with specific reference

to Indian Petroleum Industry- An empirical study concluded that
ONGC's (Oil and Natural Gas Company) profitability is highest among
the other petroleum companies of India. It is followed by RIL (Reliance
Industries Limited) and again almost equal for BPCL (Bharat Petroleum
Corporation Limited) and HPCL(Hindustan Petroleum Corporation
Limited).

Muthusamy and Gowri (2013) examined the performance of Hindustan

Petroleum Corporation Limited and its financial position with the help
of selected accounting ratios. It has been found that firm are effectively
utilizing of their capital. Over the years, financial leverage of the
company has declined. Similarly, Operating leverage of the company
also declining. It indicates that company is moving from high levered to
low levered zone.

Background
Oil and Natural Gas Corporation (ONGC), with its mission of 'Retaining a dominant position in the Indian
Petroleum sector and enhancing India's energy availability' and recognizing the fact that petroleum
resources are dwindling worldwide, has taken steps to look at all forms of energy to fulfill the country's
growing energy needs. Towards this end, it has established an ONGC Energy Centre Trust (OECT),
which is mandated to undertake or assist in programs / projects of fundamental and applied research for
improving and developing commercially viable energy mediums and sources beyond hydrocarbons,
especially in clean and/or renewable energy options. The ONGC Energy Centre aims to conduct research
in alternate energy, specifically focusing on projects, which have the potential to make an impact on
India's energy scene. The ONGC Energy Centre functions under the aegis of the ONGC Energy Centre
Trust, which was established, under the Indian Trust Act, on 8th August 2005.