Annual Report 2006-2007 of Oil and Natural Gas Corporation Limited

It is a broadly described annual report of Oil and Natural Gas Corporation Limited in the year of 2006-2007. During the financial year, The Company registered a gross revenue of Rs. 596,575 million (up 19.5% from Rs. 494,397 million in 2005-06), despite sharing under-recoveries of Rs. 170,239 million (Rs. 119,565 mi lion in 2005-06). During the year, Company earned a Net Profit of Rs. 156,429 million (up 8.4% from Rs. 144,308 million in 2005-06). The company Issued Bonus Shares In the ratio of 1:2 by Issuing 71,29,57,510 Bonus Shams. Now The Company has 213,88,72,530 equity shares of Rs. 10/- each so as to increase the equity capital tram Rs. 14,259 million to Rs. 21,389 million. The company had paid an Interim Dividend of Rs.18/- per share (180%) in December 2006.

The Board of Directors of the Company are pleased to recommend a Final Dividend of Rs.13/- per share (130%) making an aggregate dividend of Rs.31/- per share (310%) on the expanded capita (post Bonus), for the year ended 31^st March 2007 amounting to Rs. 66,305 million. The iota outgo on dividend would be Rs. 76,430 million, including Rs, 10,125 million as dividend distribution tax.

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