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ONGC - Limited Earnings Growth Prospects: HDFC Securities

We estimate ONGC’s oil production at 21.6/22.9/24.3 mmt and gas production at 20.9/22.7/24.6 bcm, implying a production growth of 6% and 9% CAGR over FY24-26E respectively.

<div class="paragraphs"><p>ONGC Ltd. (Source: Company website)</p></div>
ONGC Ltd. (Source: Company website)
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