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ONGC Announces New Director (Finance)

Vivek Chandrakant Tongaonkar Takes the Helm

New Delhi, July 2, 2024 – Oil and Natural Gas Corporation (ONGC) has appointed Vivek Chandrakant Tongaonkar as its new Director (Finance), effective immediately.

*A Seasoned Professional*

Tongaonkar brings over 37 years of experience in the energy industry, with a proven track record in financial and managerial leadership. His expertise includes transforming financial strategies, enhancing financial health, and improving market standing.

*Previous Roles*

Before joining ONGC, Tongaonkar served as Director (Finance) & CFO at Mangalore Refinery & Petrochemicals Limited (MRPL), where he achieved significant milestones, including:

– Preemptive repayment of high-interest term loans
– Deleveraging and improving debt-equity ratio
– Proactive engagement with investors, resulting in a 477% increase in market capitalization

*Leadership and Expertise*

Tongaonkar has also held various leadership positions within the ONGC Group, including Executive Director – Chief Corporate Finance and CFO. His strategic initiatives have resulted in substantial cost savings and ensured continuity of finance operations during the COVID-19 pandemic.

*Looking Ahead*

ONGC is poised for continued growth and success under Tongaonkar’s leadership, driving financial excellence and contributing to the organization’s continued growth and success.

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