ONGC Q2 Results FY27 Preview: Results Date, Expectations and the Numbers That Will Decide the September 2026 Quarter

The ONGC Q2 results FY27 announcement is the next scheduled earnings event for Oil & Natural Gas Corporation Ltd., India’s largest crude oil and natural gas producer, operating domestic fields onshore and offshore and overseas assets through ONGC Videsh, and controlling the refiners Hindustan Petroleum and Mangalore Refinery alongside a petrochemical and renewables presence. The stock traded at Rs 234.00 on the NSE on 15 September 2026, up 0.65% from the previous close of Rs 232.50, about 23.9% below its 52-week high of Rs 307.50 and 2.8% above its 52-week low of Rs 227.65.

What makes the ONGC Q2 results print worth watching is the base it faces. The September 2025 quarter delivered Rs 1,57,911.00 crore of revenue and a profit of Rs 12,615.00 crore, while the most recent quarter on record, Q1 FY27, produced Rs 2,04,987.00 crore and a profit of Rs 6,554.00 crore. Everything below is built from those reported figures rather than from any forecast.

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When Is the ONGC Q2 Results FY27 Date?

The ONGC Q2 results date for FY27 is not confirmed. As of 15 September 2026, Oil & Natural Gas Corporation Ltd. had not filed a board meeting intimation with the NSE or BSE for the September 2026 quarter, so any date circulating before that filing appears should be treated as unverified.

What can be stated is the regulatory boundary. Listed companies in India must publish quarterly results within 45 days of the end of the quarter, which places the outer deadline for the September 2026 quarter at 14 November 2026. Companies also have to give the exchanges prior intimation of the board meeting that approves the results, so the ONGC Q2 results date becomes public through that filing rather than through any advance announcement.

The ONGC Q2 results FY27 print covers 1 July 2026 to 30 September 2026. Small and mid-cap companies more often report in the second half of that window than in the first, so late October or early November is the range to watch for Oil and Natural Gas Corporation.

ONGC Q2 Results Expectations: What the Market Is Actually Tracking

No verified analyst estimate for the ONGC Q2 results FY27 quarter is in the public domain, so no revenue or profit figure should be assumed for Oil and Natural Gas Corporation. The ONGC Q2 results watchlist below is built from what the company has actually reported and disclosed.

The first is revenue, which was Rs 1,57,911 crore in September 2025 against Rs 2,04,987 crore in Q1 FY27, a rise of about 30%. About 77% of that consolidated figure is refining through the subsidiaries rather than upstream production, so this is not a measure of oil and gas output.

The second is the operating margin, which was 17% in September 2025 and 8% in Q1 FY27. That is a refining blend rather than an upstream netback, and the nine point fall came from the downstream half, since standalone upstream operating profit rose sharply in the same quarter.

The third is that consolidated net profit and earnings per share moved in opposite directions in June 2026. Net profit halved to Rs 6,554 crore while earnings per share rose to Rs 9.46, which happens when the refining subsidiaries lose money and those losses fall largely to minority shareholders rather than to ONGC.

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ONGC Q2 Results Preview: The Q1 FY27 Actuals It Builds On

Oil & Natural Gas Corporation Ltd. reported revenue of Rs 2,04,987.00 crore in Q1 FY27, up 25.68% from Rs 1,63,106.00 crore in Q1 FY26, and a profit of Rs 6,554.00 crore at the net level, down 43.28% from Rs 11,554.00 crore in Q1 FY26. These are reported actuals, not estimates.

Sequentially, revenue was up 17.94% over the March 2026 quarter figure of Rs 1,73,801.00 crore, and net profit was down 52.08% from Rs 13,678.00 crore in Q4 FY26. Operating margin stood at 8% in Q1 FY27 against 17% in the September 2025 quarter, which is the comparison the ONGC Q2 results print will be read against.

Q2 FY26 Base: The Comparison ONGC Q2 Results FY27 Must Beat

Oil & Natural Gas Corporation Ltd. reported revenue of Rs 1,57,911.00 crore and a profit of Rs 12,615.00 crore in Q2 FY26, the September 2025 quarter. That is the year-ago base against which the September 2026 numbers will be judged, and it is the single most useful figure in this ONGC Q2 results preview.

Net profit in that base quarter was above the Rs 6,554.00 crore just reported for Q1 FY27, so the year-on-year comparison starts from a demanding level. Revenue of Rs 1,57,911.00 crore sits below the Rs 2,04,987.00 crore of the June 2026 quarter, which frames how much sequential movement the ONGC Q2 results print needs to show growth.

Oil and Natural Gas Corporation Quarterly Results Trend Over the Last Four Quarters

Quarter	Revenue (Rs Cr)	Net Profit (Rs Cr)
Q2 FY26 (Sep 2025)	1,57,911.00	12,615.00
Q3 FY26 (Dec 2025)	1,67,423.00	11,946.00
Q4 FY26 (Mar 2026)	1,73,801.00	13,678.00
Q1 FY27 (Jun 2026)	2,04,987.00	6,554.00

Figures in brackets denote negative numbers. All four quarters above are reported actuals taken from the company’s exchange filings, and they are the only basis this ONGC Q2 results preview uses.

Revenue across those four quarters ranged from Rs 1,57,911.00 crore to Rs 2,04,987.00 crore, and net profit from Rs 6,554.00 crore to Rs 13,678.00 crore. That spread is the honest context for the ONGC Q2 results FY27 print, and it is why a single quarter should not be read as a trend on its own.

Key Factors That Could Shape ONGC Q2 Results FY27

The ONGC Q2 results outcome will turn on a small number of company-specific variables rather than on broad market conditions. The three below are the ones visible in what Oil and Natural Gas Corporation has already reported.

Two Businesses in One Line

Upstream earns on the realised price per barrel and per unit of gas with volumes that move slowly, while refining earns on the gross refining margin. The consolidated statement adds them together, so a strong upstream quarter can sit inside a weak consolidated margin.

June 2026 Also Carried a Tax Break

The effective rate was 7% against 26% to 27% in the other four quarters, worth roughly Rs 1,295 crore of the printed profit. Without it the consolidated bottom line for that quarter would have been materially smaller.

The Yield Is the Anchor

A dividend yield of 5.58% stands against a price to book ratio of 0.79 on book value of Rs 296.00 and return on equity of 11.6%. The share sits below both its 50 day average of Rs 240.40 and its 200 day average of Rs 257.16.

ONGC Q2 Results FY27: Share Price and Valuation Going Into the Print

Oil and Natural Gas Corporation share price today is Rs 234.00 on the NSE, up Rs 1.50 or 0.65% from the previous close of Rs 232.50 on 15 September 2026, ahead of the ONGC Q2 results announcement.

Metric	Value (15 September 2026)
NSE Symbol	ONGC
Current Market Price	Rs 234.00
52-Week High	Rs 307.50
52-Week Low	Rs 227.65
Market Capitalisation	Rs 2,94,991 crore
PE Ratio	6.77
PB Ratio	0.79
EPS (TTM)	Rs 34.59
Book Value per Share	Rs 296.00
Debt to Equity	0.47
Return on Equity	11.6%
50-Day Moving Average	Rs 240.16
200-Day Moving Average	Rs 257.09
RSI (14)	49.92

The stock trades below both its 50-day average of Rs 240.16 and its 200-day average of Rs 257.09, with a 14-day RSI of 49.92. None of this is a view on where the shares go once the ONGC Q2 results are announced, and no price target is offered here.

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What Investors Should Watch When ONGC Q2 Results Are Announced

Four lines carry most of the information in a company of this size, and reading them in order keeps the ONGC Q2 results print in proportion.

1. Revenue against the Rs 1,57,911.00 crore reported in the September 2025 base quarter
2. Net profit against a profit of Rs 12,615.00 crore in that same quarter
3. Operating margin against 8% in Q1 FY27
4. Any exceptional item, provision or one-off gain disclosed alongside the numbers

A one-off gain or provision can move the reported profit far more than operations do in a company this size, which is why the ONGC Q2 results announcement should be read together with the notes to the results rather than the headline alone.

Conclusion on ONGC Q2 Results FY27

The ONGC Q2 results date is not confirmed, and 14 November 2026 is the statutory outer limit rather than an expected date. Oil & Natural Gas Corporation Ltd. will make the schedule public through a board meeting intimation to the exchanges, and until then the September 2026 quarter can only be framed by what has already been reported.

On that basis the ONGC Q2 results FY27 print faces a base of Rs 1,57,911.00 crore in revenue and a profit of Rs 12,615.00 crore, with the most recent quarter having delivered Rs 2,04,987.00 crore and a profit of Rs 6,554.00 crore. No numerical estimate appears in this preview because no verified consensus figure exists for Oil and Natural Gas Corporation, and readers should treat any preview that supplies one with caution. Verify every figure against the company filing on release and consult a SEBI-registered advisor before acting on quarterly earnings.

FAQs on ONGC Q2 Results FY27

What is the ONGC Q2 results date for FY27?

Ans. The ONGC Q2 results date for FY27 is not confirmed. Oil & Natural Gas Corporation Ltd. had not filed a board meeting intimation with the NSE or BSE as of 15 September 2026. Indian listing rules require the September 2026 quarter results to be published by 14 November 2026 at the latest.

What quarter do the ONGC Q2 results 2026 cover?

Ans. The ONGC Q2 results FY27 cover 1 July 2026 to 30 September 2026, known as the September 2026 quarter. Oil & Natural Gas Corporation Ltd. reports revenue, operating profit and net profit for that period, and the ONGC Q2 results filing also carries the notes to the accounts.

What were the Oil and Natural Gas Corporation Q1 FY27 results?

Ans. Oil & Natural Gas Corporation Ltd. reported revenue of Rs 2,04,987.00 crore in Q1 FY27 and a profit of Rs 6,554.00 crore at the net level. Revenue was up 25.68% versus Q1 FY26 and net profit was down 43.28% from Rs 11,554.00 crore in Q1 FY26.

What were Oil and Natural Gas Corporation Q2 FY26 results in the September 2025 quarter?

Ans. Oil & Natural Gas Corporation Ltd. reported revenue of Rs 1,57,911.00 crore and a profit of Rs 12,615.00 crore in Q2 FY26. Operating margin was 17%. Those figures form the base for the ONGC Q2 results FY27 comparison.

What are the main ONGC Q2 results expectations this quarter?

Ans. No verified analyst estimate is publicly available. The ONGC Q2 results expectations centre on revenue against the Rs 1,57,911.00 crore base, net profit against a profit of Rs 12,615.00 crore, operating margin against 8% in Q1 FY27, and any exceptional item disclosed with the numbers.

What is Oil and Natural Gas Corporation share price today ahead of the Q2 earnings?

Ans. Oil and Natural Gas Corporation share price is Rs 234.00 on the NSE as of 15 September 2026, up 0.65% from Rs 232.50. The stock is about 23.9% below its 52-week high of Rs 307.50 and 2.8% above its 52-week low of Rs 227.65, at a market capitalisation of Rs 2,94,991 crore.

Is Oil and Natural Gas Corporation a good stock to buy before the Q2 results?

Ans. This article does not offer a buy, sell or hold recommendation on Oil & Natural Gas Corporation Ltd. The stock trades at a price-to-book ratio of 0.79 with a return on equity of 11.6%. Assess the reported numbers when they are released and consult a SEBI-registered financial advisor before making any decision.