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S&P sees 15-20% EBITDA growth for ONGC in FY27 on upstream strength, downstream recovery
🇮🇳 India · Economy · 23 h ago
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26.10 11:43 UTC
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ONGC Earnings May Jump 20% To ₹1.4 Lakh Crore In FY27, S&P Global Sees Strong Recovery In Oil And Refining Business
New Delhi: Oil and Natural Gas Corporation (ONGC) is expected to witness a strong earnings recovery over the next six to nine months, supported by elevated crude oil prices and improving performance at its refining subsidiaries, according to S&P Global Ratings.
HPCL And MRPL Drive Refining Recovery ONGC's downstream subsidiaries, Hindustan Petroleum Corporation Limited (HPCL) and Mangalore Refinery and Petrochemicals Limited (MRPL), are also showing signs of recovery.
S&P expects improved refining margins and reduced losses at HPCL to support downstream EBITDA of approximately ₹17,000 crore in FY27.
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