Editor’s Note
This article clarifies the three-tier classification system for India’s state-owned enterprises, moving beyond the common misconception of only nine “Navratna” companies. It provides a current breakdown of the 14 Maharatna, 26 Navratna, and 59 Miniratna firms that form the backbone of the public sector.
In India, government companies are categorized into three tiers. These three categories are Maharatna, Navratna, and Miniratna. Currently, India has 14 Maharatna, 26 Navratna, and 59 Miniratna companies. Let’s take a look at the complete list of these companies.
Government companies (CPSEs) in the country are accorded recognitions such as Miniratna, Navratna, and Maharatna based on their performance and size. These statuses grant companies greater authority, decision-making autonomy, and expansion freedom. Let’s understand the conditions a government company must meet to obtain these statuses.
The company must already be a Navratna.
The company’s average annual turnover over the last 3 years should be more than Rs 25,000 crore.
The company’s average annual net profit (after tax) over the last 3 years should be more than Rs 5,000 crore.
The company must be listed on an Indian stock exchange and have a minimum public shareholding as per SEBI regulations.
The company’s average annual net worth over the last 3 years should be more than Rs 15,000 crore.
The company should have a strong global presence.
The company must already have Miniratna (Category-1) status and be included in Schedule ‘A’ CPSEs.
The company should have received a ‘Very Good’ or ‘Excellent’ rating in at least 3 out of the last 5 years.
The company should have scored a total of 60 or more points on 6 performance parameters:
– Net Profit to Net Worth
– Earnings Per Share (EPS)
– Profit Before Interest and Tax to Turnover
– Profit Before Depreciation, Interest and Tax to Capital Employed
– Manpower Cost to Total Cost
– Inter-Sectoral Performance
The company must have been profitable for the last 3 consecutive years.
The company’s net worth should be positive, meaning the company is not debt-ridden.
Currently, India has 14 Maharatna, 26 Navratna, and 59 Miniratna companies. Let’s take a look at the complete list of these companies.
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 and Natural Gas Corporation Limited
9. Power Finance Corporation
10. Power Grid Corporation of India Limited
11. Steel Authority of India Limited
12. Rural Electrification Corporation Limited
13. Oil India Limited
14. Hindustan Aeronautics Limited
1. Bharat Electronics Limited
2. Container Corporation of India Limited
3. Engineers India Limited
4. Mahanagar Telephone Nigam Limited
5. National Aluminium Company Limited
6. National Buildings Construction Corporation Limited
7. Neyveli Lignite Corporation Limited
8. NMDC Limited
9. Rashtriya Ispat Nigam Limited
10. Shipping Corporation of India Limited
11. Rail Vikas Nigam Limited
12. ONGC Videsh Limited
13. Rashtriya Chemicals & Fertilizers Limited
14. IRCON International Limited
15. RITES Limited
16. National Fertilizers Limited
17. Central Warehousing Corporation
18. Housing and Urban Development Corporation Limited
19. Indian Renewable Energy Development Agency Limited
20. Mazagon Dock Shipbuilders Limited
21. RailTel Corporation of India Limited
22. Solar Energy Corporation of India (SECI) Limited
23. NHPC Limited
24. SJVN Limited
25. Indian Railway Catering and Tourism Corporation Limited
26. Indian Railway Finance Corporation Limited
1. Airports Authority of India
2. Antrix Corporation Limited
3. Balmer Lawrie & Company Limited
4. Bharat Coking Coal Limited
5. Bharat Dynamics Limited
6. BEML Limited
7. Bharat Sanchar Nigam Limited
8. Braithwaite & Company Limited
9. Bridge and Roof Company (India) Limited
10. Central Coalfields Limited
11. Central Electronics Limited
12. Central Mine Planning and Design Institute Limited
13. Chennai Petroleum Corporation Limited
14. Cochin Shipyard Limited
15. Cotton Corporation of India Limited
16. EDSIL (India) Limited
17. Garden Reach Shipbuilders & Engineers Limited
18. Grid Controller of India Limited (Grid-India)
19. Goa Shipyard Limited
20. Hindustan Copper Limited
21. Hindustan Steelworks Construction Limited
22. Hindustan Organic Chemicals Limited
23. HLL Lifecare Limited
24. HSCC (India) Limited
25. India Tourism Development Corporation Limited
26. Indian Rare Earths Limited
27. India Trade Promotion Organisation
28. KIOCL Limited
29. Mahanadi Coalfields Limited
30. MOIL Limited
31. Mangalore Refinery and Petrochemicals Limited
32. Mineral Exploration Corporation Limited
33. Mishra Dhatu Nigam Limited
34. MMTC Limited
35. MSTC Limited
36. National Projects Construction Corporation Limited
37. National Small Industries Corporation Limited
38. National Seeds Corporation
39. Northern Coalfields Limited
40. North Eastern Electric Power Corporation Limited
41. Numaligarh Refinery Limited