ONGC : Revenue Analysis

Overview

Oil and Natural Gas Corporation (ONGC) recorded revenues of INR1,063,760 million (approximately $26,423.8 million) in the financial year ended March 2008 (FY2008), an increase of 16.9% over the financial year ended March 2007 (FY2007). The company recorded external sales of INR1,035,382 (approximately $25,718.9 million) in FY2008, an increase of 16.5% over FY2007. For the FY2008, India, the company's largest geographic market, accounted for 84.8% of the total revenues.

ONGC generates revenues through five business segments: Indian offshore exploration and
production (38% of the total external sales in FY2008), Indian refining operations (29.5%), Indian onshore exploration and production (16.5%), Outside Indian operations (15%), and unallocated (0.9%).

Revenue by segment

In the FY2008, the Indian offshore exploration and production segment recorded revenues of
INR393,820.6 million (approximately $9,782.5 million), an increase of 14.9% over FY2007.
The Indian refining segment recorded revenues of INR305,889.6 million (approximately $7,598.3 million) in FY2008, an increase of 16.8% over FY2007.

The Indian onshore exploration and production segment recorded revenues of INR171,099.5 million (approximately $4,250.1 million) in FY2008, an increase of 1.6% over FY2007.
The outside Indian operations segment recorded revenues of INR155,593.2 million (approximately $3,864.9 million) in FY2008, an increase of 42.8% over FY2007.
The unallocated segment recorded revenues of INR8,979 million (approximately $223 million) in FY2008, an increase of 27.1% over FY2007.

Revenue by geography

India, ONGC's largest geographical market, accounted for 84.8% of the total external sales (excluding unallocated sales) in the FY2008. Revenues from India reached INR870,809.7& million (approximately $21,630.9 million) in FY2008, an increase of 12.6% over FY2007.
Countries outside India accounted for 15.2% of the total external sales (excluding unallocated sales)in the FY2008. Revenues from countries outside India reached INR155,593.2 million (approximately $3,864.9 million) in FY2008, an increase of 42.8% over FY2007.