Final dividend recommended: ₹1 per equity share (20% on face value of ₹5)
Total final dividend amount: ₹1,258 crore
Previously declared: First interim dividend of ₹6 per share (120%) on November 10, 2025 and second interim dividend of ₹6.25 per share (125%) on February 12, 2026
Dates of Action
Board meeting date: May 26, 2026 (commenced at 14:45 hrs, concluded at 19:15 hrs)
Financial year ended: March 31, 2026
Dividend subject to approval at ensuing Annual General Meeting
Parties Involved
Subsidiaries: ONGC Videsh Limited, Mangalore Refinery and Petrochemicals Limited, Hindustan Petroleum Corporation Limited, ONGC Green Limited, ONGC Petroadditions Limited
Joint Venture Partners: Gujarat Maritime Board (for Dahej port JV), Shell Brasil Petróleo Ltda. (BC-10 Operator)
Auditors: Laxmi Tripti & Associates, Manubhai & Shah LLP, V Sankar Aiyar & Co., Talati & Talati LLP, Rama K Gupta & Co.
Regulatory bodies: SEBI, Directorate General of Hydrocarbons, Tax Authorities
Corporate Approvals
1. Dahej Port Joint Venture
In-principle approval for 50:50 JV with Gujarat Maritime Board
Development of 5 MMTPA liquid port at Dahej, Gujarat
Pending investment approvals by JV partners and DIPAM, Govt of India approval
Strategic enabler for ONGC Group's integrated energy business
2. Parent Company Guarantee
Approval for Related Party Transaction to provide Parent Company Guarantee by ONGBV
Guarantee to BC-10 Operator (Shell Brasil Petróleo Ltda.) on behalf of OCL
Amount: USD 325 million for abandonment liability
Arm's length guarantee fees to be determined based on transfer pricing study
ONGBV is subsidiary of ONGC Videsh Limited
OCL is step-down subsidiary through ONGBV
3. Related Party Transactions (Mozambique Project)
Board recommended for shareholder approval:
Implementation of AssetCo structure Transfer of Assets under AssetCo Transaction
Extension of existing Debt Service Undertaking (DSU) validity period provided by ONGC
Contingent Liabilities and Emphasis of Matter
1. PMT JV Arbitration Matter (Note 5)
USD 1,624.05 million (₹15,225 crore as on March 31, 2026) demand by DGH
Related to Panna-Mukta and Mid & South Tapti contract areas
Pending finality by Arbitration Tribunal on various issues
No provision accounted in financial statements
2. Service Tax/GST on Royalty (Note 6)
Provision recognized: ₹19,645 crore (including ₹2,526 crore during current year)
Amount deposited under protest: ₹18,647 crore
Contingent liability for JV partners' share: ₹6,683 crore
Contingent liability for penalty and other matters: ₹2,187 crore
Matter pending before Nine Judges' Bench of Supreme Court
3. Terminal Excise Duty Refund (Note 7)
₹2,088 crore receivable from Directorate General of Foreign Trade
Considered good and recoverable
Writ Petition filed before Delhi High Court on May 23, 2025
4. CB-OS-02 Block Issue (Note 8)
GOI decision not to extend contract term for Pre-NELP JV block
ONGC directed to take over operations from Vedanta Limited
Vedanta filed writ petition in Delhi High Court
Matter reserved for order after hearings concluded on May 18, 2026
