Oil and Natural Gas Corporation Limited (ONGC) announced the outcome of its Board of Directors meeting held on September 17, 2026. During the meeting, the board formally considered and approved the appointment of three cost accounting firms to serve as the company’s Cost Auditors for the financial year 2026-27.

The newly appointed cost audit firms are M/s Chandra Wadhwa & Co., M/s Ramanath Iyer & Co., and M/s R Nanabhoy & Co. These firms bring decades of specialized experience in statutory and voluntary cost audits, management accounting, and professional assignments across diverse sectors, including oil and gas public sector undertakings. Brief profiles submitted to the stock exchanges highlight their extensive industry standing, peer-reviewed certifications from the Institute of Cost Accountants of India (ICMAI), and previous auditing experience with major energy entities.

Headquartered in New Delhi, ONGC is a Maharatna public sector enterprise and India’s premier crude oil and natural gas producer, contributing significantly to the nation’s domestic energy security. In recent 2025 developments, the company has actively expanded its regional infrastructure, such as connecting the Khoraghat gas fields to the North East Gas Grid to boost regional energy access. Financial analysts have continued to monitor ONGC closely, emphasizing its solid value-stock fundamentals and stable performance amidst shifting global energy markets.

During the preceding financial quarters of 2025, ONGC demonstrated resilient financial health, supported by steady subsidiary performance and optimized operational expenses. For instance, in Q1 FY 2025-26, the company recorded a consolidated net profit of ₹11,554.21 Crores, reflecting a strong year-over-year growth of 12.9%. Institutional holdings in ONGC remain heavily anchored by the Government of India alongside major domestic mutual funds and international institutional investors.