ONGC vs Oil India
Oil & Natural Gas Corpn trades at the larger discount to its peers' median P/E: 38% below it, against 13% below for Oil India.
Oil & Natural Gas Corpn earns the higher return on equity: 10.2% against 9.5%.
Oil India grew revenue faster over three years: 0.2% a year against -0.9% a year.
Oil & Natural Gas Corpn fires fewer of our forensic red flags: 0 of 30 judged against 1 of 30 judged.
The latest change on file is Oil & Natural Gas Corpn's, on 5 Nov 2026: Q2 FY2027 results filed.
Oil & Natural Gas Corpn trades at a P/E of 5.97: 2nd of 12 among its peers (peer median 9.6).
Oil & Natural Gas Corpn: the full company page →Oil India trades at a P/E of 8.65: 6th of 15 among its peers (peer median 9.9).
Oil India: the full company page →Oil & Natural Gas Corpn and Oil India, figure by figure
| Figure | ONGC | Oil India | Leads |
|---|---|---|---|
| Market cap | ₹2,95,385 Cr | ₹72,303 Cr | Oil & Natural Gas Corpn, larger |
| P/E | 5.97 | 8.65 | Oil & Natural Gas Corpn, cheaper |
| P/B | 1.08 | 1.59 | Oil & Natural Gas Corpn, cheaper |
| Dividend yield | 5.9% | 2.5% | Oil & Natural Gas Corpn, higher |
| ROE | 10.2% | 9.5% | Oil & Natural Gas Corpn, higher |
| ROCE | 11.4% | 10.2% | Oil & Natural Gas Corpn, higher |
| Profit margin | 6.5% | 20.2% | Oil India, higher |
| Revenue growth, 3 years | -0.9% a year | 0.2% a year | Oil India, faster |
| Profit growth, 3 years | 5.3% a year | -8.8% a year | Oil & Natural Gas Corpn, faster |
| 1-year return | −6.6% | +2.9% | Oil India, higher |
| 5-year return | +8.6% a year | +24.8% a year | Oil India, higher |
| Quality score | 55.5 | 24.8 | Oil & Natural Gas Corpn, higher |
| Our valuation view | Cheap, low confidence (held for review) | Cheap, low confidence (held for review) | Level |
| Risk level | CLEAN | WATCH | Oil & Natural Gas Corpn, lower |
| Forensic red flags | 0 red of 30 judged | 1 red of 30 judged | Oil & Natural Gas Corpn, fewer |
The leading figure is in green: the lower for P/E, P/B, cost to income, NPAs, risk and red flags, the higher for the rest. P/E and P/B on the latest price; growth rates are yearly averages; returns are price only. Our valuation view and the red flags are explained on each company's page.
Which is bigger, Oil & Natural Gas Corpn or Oil India?
Oil & Natural Gas Corpn is the bigger company by market value: ₹2,95,385 Cr against ₹72,303 Cr for Oil India, about 4.1 times as large.
Oil & Natural Gas Corpn market cap is ₹2,95,385 crore (large cap), making it the 31st largest listed company on the NSE.
Oil India market cap is ₹72,303 crore (mid cap), making it the 151st largest listed company on the NSE.
Which is cheaper on valuation, Oil & Natural Gas Corpn or Oil India?
Oil & Natural Gas Corpn is the cheaper of the two on P/E: 5.97 against 8.65 for Oil India.
On price to book, Oil & Natural Gas Corpn is also the cheaper: 1.08 against 1.59.
Against their own peers' median P/E, Oil & Natural Gas Corpn trades 38% below its own (9.6) and Oil India trades 13% below its own (9.9).
Our valuation view: cheap on Oil & Natural Gas Corpn (low confidence) and cheap on Oil India (low confidence). The view weighs the multiples against each company's peers and its own history.
Cheap for a reason, on Oil & Natural Gas Corpn: revenue -0.9% a year over 3 years.
Cheap for a reason, on Oil India: revenue 0.2% a year over 3 years, profit -8.8% a year over 3 years.
Which is more profitable, Oil & Natural Gas Corpn or Oil India?
Oil & Natural Gas Corpn is the more profitable on return on equity: 10.2% against 9.5% for Oil India.
ROCE: Oil & Natural Gas Corpn 11.4%, Oil India 10.2%.
Profit margin: Oil India 20.2%, Oil & Natural Gas Corpn 6.5%.
Which grew faster, Oil & Natural Gas Corpn or Oil India?
Oil India grew faster over the last three years: revenue up 0.2% a year against -0.9% a year for Oil & Natural Gas Corpn.
Profit growth, 3 years: Oil & Natural Gas Corpn 5.3% a year, Oil India -8.8% a year.
Which has cleaner accounts, Oil & Natural Gas Corpn or Oil India?
Oil & Natural Gas Corpn has the cleaner accounts on our forensic checks: 0 red flags of 30 judged against 1 of 30 judged for Oil India.
Oil & Natural Gas Corpn: risk level CLEAN, 30 of 30 flags judged.
Oil India: risk level WATCH, 30 of 30 flags judged.
A red flag is a figure out of line with what clean accounts show, not a finding of wrongdoing.
What these figures tell you
More comparisons
What this page rests on
Every figure is the one Oil & Natural Gas Corpn's and Oil India's own pages print, from their filings with the exchanges and our arithmetic on them; each company is set against its own peer set. A side-by-side reading of the figures on both company pages, not a recommendation to buy, sell or hold either share. Which figure matters more depends on what you are looking for.