Key Takeaways
- OGDCL announces a record Rs242.4bn profit for fiscal year 2025-26.
- The company's profit after tax increased by 43% from the previous year.
- OGDCL made significant exploration achievements, including the first major lithium discovery in Sindh.
Oil and Gas Development Company Limited (OGDCL) has announced a record-breaking profit of Rs242.4bn for the fiscal year 2025-26, marking a 43% increase from the previous year. This significant financial performance reflects the company's robust operations and strategic positioning in the energy sector.
The company's profit after tax for the first nine months of the fiscal year (July 2025 to March 2026) stood at Rs115bn, a decline of around 12% compared to the same period in FY2025. However, the global surge in oil prices following the US-Israel attack on Iran generated an additional Rs128bn in post-tax profit, more than the combined profit for the first three quarters.
OGDCL's financial results for the year showed net sales revenue of Rs449.191bn, with the highest-ever profit after tax of Rs242.374bn. Earnings per share (EPS) rose to Rs56.35 from Rs39.50 a year earlier. The board declared a final cash dividend of Rs6 per share, the highest-ever quarterly dividend, in addition to interim dividends of Rs11 per share, taking the total payout for the year to Rs17 per share — the highest-ever annual dividend declared by the company.
The company contributed Rs187bn to the national exchequer through corporate tax, dividends, royalties, and other government levies. Its oil and gas production also generated estimated foreign exchange savings of $3.31bn through import substitution. Improved recoveries resulted in an overall collection rate of 107%, with Rs577bn collected during the year.
OGDCL's share price appreciated by 52% during the fiscal year, outperforming the 44% increase in the KSE-100 Index. The company's market capitalisation reached approximately Rs1.44 trillion as of June 30, 2026, reinforcing its position as Pakistan's largest listed company.
During the year, the company made significant exploration and drilling achievements, including nine oil and gas discoveries, adding 120 million barrels of oil equivalent (MMBOE) in proven and probable (2P) reserves. OGDCL achieved a reserves replacement ratio of 236%, the highest in its history. The company spudded 23 wells and drilled 58,333 metres, the highest levels recorded in the past five years, while securing interests in 15 additional exploration blocks.
OGDCL's average daily net saleable production stood at 32,861 barrels of crude oil, 667 million cubic feet (MMcf) of gas, and 670 tonnes of LPG, representing year-on-year increases of 6.3%, 2.3%, and 4.4%, respectively, despite continued production curtailments. The company successfully ramped up production to help mitigate the country's energy demand-supply gap, with gross crude oil production surpassing 40,000 barrels per day.
The company also made a significant exploration and drilling achievement, discovering high-grade lithium in geothermal brine in Khairpur district, Sindh, during the fiscal year. This discovery marks the first major lithium find in the region and could have substantial implications for the country's energy and mineral resources.
