ONGC Share Price in Focus; Board Approves 50:50 JV with Gujarat Maritime Board for 5 MMTPA Port at Dahej

Oil and Natural Gas Corporation (ONGC) will remain in focus after its board approved several key proposals, including a final dividend recommendation for FY26 and the formation of a joint venture with Gujarat Maritime Board (GMB) to develop a liquid port facility at Dahej, Gujarat.  

The decisions were taken at the company’s board meeting held on May 26, 2026.  

Board Recommends Final Dividend for FY26 

The board has recommended a final dividend of ₹1 per equity share with a face value of ₹5 each, representing a 20% payout for FY26. The proposal is subject to shareholder approval at the upcoming Annual General Meeting.  

Including the final dividend, shareholders would receive distributions over and above the first interim dividend of ₹6 per share declared in November 2025 and the second interim dividend of ₹6.25 per share announced in February 2026.  

ONGC Clears In-Principle Approval for Dahej Port Venture 

The board also provided in-principle approval for establishing a 50:50 joint venture with Gujarat Maritime Board to develop a 5 million metric tonnes per annum (MMTPA) liquid port at Dahej.  

The project remains subject to investment clearances from the partners and approval from the Department of Investment and Public Asset Management (DIPAM).  

According to the company, the proposed port infrastructure is expected to strengthen the ONGC Group’s logistics network and support its integrated energy business operations by leveraging its existing asset presence in the region.  

FY26 Financial Performance 

ONGC reported standalone revenue from operations of ₹1,32,508.14 crore for FY26 compared with ₹1,37,846.29 crore in the previous financial year. Profit after tax stood at ₹32,894.02 crore against ₹35,610.32 crore in FY25.  

For the March 2026 quarter, revenue from operations came in at ₹35,928.18 crore, while quarterly profit after tax was ₹6,649.97 crore.  

Read More: ONGC Plans $20 Billion Deepwater Expansion to Boost Domestic Energy Output! 

ONGC Share Price Performance 

As of 26 May 2026, at 3:30 PM, ONGC share price closed at ₹287.50 per share, reflecting a gain of 0.89% from the previous closing price. 

Conclusion 

The dividend recommendation and proposed Dahej port venture highlight ONGC’s continued focus on shareholder returns and long-term infrastructure expansion. The proposed port facility could further strengthen the company’s energy logistics capabilities over the coming years. 

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