ONGC's Credit Rating Adjustments and Interim Dividend Announcement

Oil & Natural Gas Corporation (ONGC), India's state-owned oil and gas exploration and production giant, has announced significant changes to its credit ratings for its Non-Convertible Debenture (NCD) programmes and set a record date for interim dividend consideration.

Credit Rating Changes

India Ratings and Research Private Limited has made the following adjustments to ONGC's credit ratings:

NCD Programme	Amount (in Crore)	Previous Rating	New Status
Redeemed Tranche	500.00	IND AAA/Stable	Withdrawn
Unutilized Programme	860.00	IND AAA/Stable	Withdrawn
Balance Programme	1,000.00	IND AAA/Stable	Affirmed

Reasons for Rating Actions

Redeemed Tranche: The Rs 500 crore NCD tranche rating was withdrawn as it has been fully redeemed, with no outstanding amount remaining.
Unutilized Programme: At ONGC's request, the rating for the Rs 860 crore unutilized NCD programme was withdrawn.
Affirmed Rating: India Ratings maintained its 'IND AAA/Stable' rating for the remaining Rs 1,000 crore NCD programme, indicating ONGC's continued strong creditworthiness.

ONGC's Market Position

India Ratings' decision to maintain the AAA rating for the balance NCD programme underscores ONGC's robust market position. The rating agency highlighted:

ONGC's strong linkages with the Government of India, which holds a 58.89% stake in the company.
The company's dominant position in domestic crude oil and natural gas production.

Production and Financial Highlights

ONGC's recent performance metrics include:

Consolidated oil and gas production of 51.36 million metric tonnes of oil equivalent (mmtoe).
Standalone revenue of Rs 1,378.46 billion.
Proven reserves standing at 775.42 million metric tonnes of oil equivalent.

Broader Credit Profile

According to the LODR data, ONGC maintains a diverse credit rating profile across various instruments:

Instrument	Rating Agency	Rating	Outlook
International Bonds	Moody's	Baa3 (FCR & LCR)	Stable
International Bonds	S&P Global	BBB-	Stable
International Bonds	Fitch	BBB-	Stable
Commercial Paper (up to Rs 10,000 Cr)	CARE Ratings	CARE A1+	-
Commercial Paper (up to Rs 10,000 Cr)	India Ratings	IND A1+	-
NCDs (Rs 9,860 Cr)	ICRA	[ICRA] AAA	Stable
NCDs (Rs 7,500 Cr)	CARE Ratings	CARE AAA	Stable

These ratings reflect ONGC's strong financial position and its ability to meet its financial obligations across various debt instruments.

Interim Dividend Announcement

ONGC has fixed November 14, 2025 as the record date for determining member eligibility for interim dividend payment. The dividend decision will be made at a board meeting scheduled for November 10, 2025. The company has notified both NSE and BSE exchanges about this record date announcement.

The recent credit rating actions, ONGC's robust financial profile, and the announcement of a potential interim dividend suggest that the company continues to maintain a strong position in India's oil and gas sector, with solid financial management practices in place and a commitment to shareholder returns.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.44%	-0.26%	-0.47%	-0.70%	+1.98%	+222.81%

Oil & Natural Gas Corporation (ONGC), India's state-owned oil and gas exploration and production giant, has announced a key appointment in its corporate governance structure. The company has named Shashi Bhushan Singh as its interim compliance officer, effective from November 1, 2025.

Appointment Details

The decision was made during ONGC's Board of Directors meeting held on October 29, 2025. According to the company's filing with the stock exchanges, Mr. Singh will serve as the Interim Compliance Officer until a regular Company Secretary and Compliance Officer is appointed, in accordance with Regulation 6 of SEBI (LODR) Regulations, 2015.

About Shashi Bhushan Singh

Mr. Singh brings a wealth of experience and qualifications to his new role:

Qualification/Experience	Details
Professional Membership	Associate Member of the Institute of Companies Secretaries of India
Educational Background	Law Graduate from the University of Delhi
	MBA (Part-time) from Jamia Millia Islamia University, Delhi
Current Position	Deputy Company Secretary of ONGC
Previous Role	Company Secretary of ONGC Videsh Ltd (a wholly owned subsidiary of ONGC)
Professional Experience	Approximately 25 years in both Public and Private Sector organizations

Significance of the Appointment

The appointment of an interim compliance officer is a crucial step for ONGC to ensure continued adherence to regulatory requirements and maintain transparent corporate governance practices. As a listed entity, ONGC is required to have a qualified company secretary as the compliance officer, responsible for ensuring that the company complies with various SEBI regulations and other applicable laws.

This interim appointment demonstrates ONGC's commitment to maintaining regulatory compliance while they search for a permanent candidate for the position of Company Secretary and Compliance Officer.

The Board meeting where this decision was made commenced at 14:22 hours and concluded at 16:40 hours on October 29, 2025.

As one of India's largest oil and gas companies, ONGC's corporate actions are closely watched by investors and industry observers. This appointment ensures that the company continues to meet its regulatory obligations during the transition period.