Maharatna, Navratna and Miniratna Companies in India

Government of India has laid down criteria to classify for grant of Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs).

Central Public Sector Enterprises (CPSEs) are those companies in which the direct holding of the Central Government or other CPSEs is 51% or more. At present we have more than 300 CPSEs in India.

CPSEs are also referred to as public sector undertakings (PSUs).

Currently we have 11 Maharatna, 13 Navratna and 74 Miniratna Companies in India.

Based on this classification board of directors of the company has been delegated certain powers.

Before getting into the list of Maharatna, Navratna and Miniratna Companies in India, let us have a look on the criteria for grant of Maharatna, Navratna and Miniratna status to CPSEs in India

Criteria for grant of Maharatna status to Central Public Sector Enterprises (CPSEs)

The CPSEs meeting the following criteria are eligible to be considered for grant of Maharatna status.

• Having Navratna status
• Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
• An average annual turnover of more than Rs. 25,000 crore during the last 3 years
• An average annual net worth of more than Rs. 15,000 crore during the last 3 years
• An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
• Should have significant global presence/international operations.

Criteria for grant of Navratna status to CPSEs

The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status.

Criteria for grant of Miniratna status to CPSEs

Miniratna Category-I status: – The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.

Miniratna Category-II status: – The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.

• Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
• Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.

As per the data published by the Ministry of Finance, Department of Public Enterprises, here is the list of Maharatna, Navratna and Miniratna CPSEs as on Feb, 2022;

Maharatna CPSEs

1. Bharat Heavy Electricals Limited
2. Bharat Petroleum Corporation Limited
3. Coal India Limited
4. GAIL India Limited
5. Hindustan Petroleum Corporation Limited
6. Indian Oil Corporation Limited
7. NTPC Limited
8. Oil & Natural Gas Corporation Limited,
9. Power Finance Corporation
10. Power Grid Corporation of India Limited
11. Steel Authority of India Limited

Navratna CPSEs

1. Bharat Electronics Limited
2. Container Corporation of India Limited
3. Engineers India Limited
4. Hindustan Aeronautics Limited
5. Mahanagar Telephone Nigam Limited
6. National Aluminium Company Limited
7. National Buildings Construction Corporation Limited
8. Neyveli Lignite Corporation Limited
9. NMDC Limited
10. Oil India Limited
11. Rashtriya Ispat Nigam Limited
12. Rural Electrification Corporation Limited
13. Shipping Corporation of India Limited

Miniratna Category – I CPSEs

1. Airports Authority of India
2. Antrix Corporation Limited
3. Balmer Lawrie & Co. Limited
4. Bharat Coking Coal Limited
5. Bharat Dynamics Limited
6. BEML Limited
7. Bharat Sanchar Nigam Limited
8. Braithwaite & Company Limited
9. Bridge & Roof Company (India) Limited
10. Central Warehousing Corporation
11. Central Coalfields Limited
12. Central Mine Planning & Design Institute Limited
13. Chennai Petroleum Corporation Limited
14. Cochin Shipyard Limited
15. Cotton Corporation of India Ltd.
16. EdCIL (India) Limited
17. Garden Reach Shipbuilders & Engineers Limited
18. Goa Shipyard Limited
19. Hindustan Copper Limited
20. HLL Lifecare Limited
21. Hindustan Newsprint Limited
22. Hindustan Paper Corporation Limited
23. Housing & Urban Development Corporation Limited
24. HSCC (India) Limited
25. India Tourism Development Corporation Limited
26. Indian Rare Earths Limited
27. Indian Railway Catering & Tourism Corporation Limited
28. Indian Railway Finance Corporation Limited
29. Indian Renewable Energy Development Agency Limited
30. India Trade Promotion Organization
31. IRCON International Limited
32. KIOCL Limited
33. Mazagaon Dock Shipbuilders Limited
34. Mahanadi Coalfields Limited
35. MOIL Limited
36. Mangalore Refinery & Petrochemical Limited
37. Mineral Exploration Corporation Limited
38. Mishra Dhatu Nigam Limited
39. MMTC Limited
40. MSTC Limited
41. National Fertilizers Limited
42. National Projects Construction Corporation Limited
43. National Small Industries Corporation Limited
44. National Seeds Corporation
45. NHPC Limited
46. Northern Coalfields Limited
47. North Eastern Electric Power Corporation Limited
48. Numaligarh Refinery Limited
49. ONGC Videsh Limited
50. Pawan Hans Helicopters Limited
51. Projects & Development India Limited
52. Railtel Corporation of India Limited
53. Rail Vikas Nigam Limited
54. Rashtriya Chemicals & Fertilizers Limited
55. RITES Limited
56. SJVN Limited
57. Security Printing and Minting Corporation of India Limited
58. South Eastern Coalfields Limited
59. Telecommunications Consultants India Limited
60. THDC India Limited
61. Western Coalfields Limited
62. WAPCOS Limited

Miniratna Category-II CPSEs

63. Artificial Limbs Manufacturing Corporation of India
64. Bharat Pumps & Compressors Limited
65. Broadcast Engineering Consultants India Limited
66. Central Railside Warehouse Company Limited
67. Engineering Projects (India) Limited
68. FCI Aravali Gypsum & Minerals India Limited
69. Ferro Scrap Nigam Limited
70. HMT (International) Limited
71. Indian Medicines & Pharmaceuticals Corporation Limited
72. MECON Limited
73. National Film Development Corporation Limited
74. Rajasthan Electronics & Instruments Limited