Navratna was the title given originally to nine Public Sector Enterprises (PSEs) identified by the Government of India in 1997 as "public sector companies that have comparative advantages", giving them greater autonomy to compete in the global market so as to "support [them] in their drive to become global giants".[1] The number of PSEs having Navratna status has been raised to 16,[2] the most recent addition being Oil India Limited.

PSU companies are divided into three categories:

  • Maharatna
  • Navratna
  • Miniratna CPSEs
    • Category I
    • Category II


Historical symbolism

Originally, the term Navaratna meant a talisman or ornament composed of nine precious gems. Later, this symbology was adopted in the courts of Emperor Vikramaditya and the Mughal emperor Akbar, where the Navaratnas were a group of nine extraordinary men in their respective courts.

Maharatna status

In 2009, the government established the Maharatna status, which raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore.[3] The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project; the Navaratna companies could invest up to Rs 1,000 crore without explicit government approval.


The six criteria for eligibility as Maharatna are:

  1. Having Navratna status.
  2. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
  3. An average annual turnover of more than Rs. 20,000. [4]crore during the last 3 years. Earlier it was Rs 25,000 Crore. [5]
  4. An average annual net worth of more than Rs. 10,000[6] crore during the last 3 years. Earlier it was Rs. 15,000 crore. [7]
  5. An average annual net profit after tax of more than Rs. 2500 crore during the last 3 years. Earlier it was Rs. 5000 crore. [8]
  6. Should have significant global presence/international operations.[9]

List of Maharatna

  1. Coal India Limited [10]
  2. Indian Oil Corporation Limited [11]
  3. NTPC Limited [12]
  4. Oil and Natural Gas Corporation Limited [13]
  5. Steel Authority of India Limited

Navratna status

Navratna was the title given originally to nine Public Sector Enterprises (PSEs), identified by the Government of India in 1997 as having comparative advantages, which allowed them greater autonomy to compete in the global market.[14] The number of PSEs having Navratna status has been raised to 16,[15] The government is likely to accord the coveted status to Engineers India Limited, which is under consideration.

List of Navratnas

  1. Bharat Electronics Limited
  2. Bharat Heavy Electricals Limited
  3. Bharat Petroleum Corporation Limited
  4. GAIL (India) Limited
  5. Hindustan Aeronautics Limited
  6. Hindustan Petroleum Corporation Limited
  7. Mahanagar Telephone Nigam Limited
  8. National Aluminium Company Limited
  9. National Mineral Development Corporation Limited
  10. Neyveli Lignite Corporation Limited
  11. Oil India Limited
  12. Power Finance Corporation Limited
  13. Power Grid Corporation of India Limited
  14. Rashtriya Ispat Nigam Limited
  15. Rural Electrification Corporation Limited
  16. Shipping Corporation of India Limited

Miniratna Status

In addition, the government created another category called Miniratna. Miniratnas can also enter into joint ventures, set subsidiary companies and overseas offices but with certain conditions. In 2002, there were 61 government enterprises that were awarded Miniratna status. However, at present, there are 66 government enterprises that were awarded Miniratna status.

Category I

This designation applies to PSEs that have made profits continuously for the last three years or earned a net profit of Rs. 30 crore or more in one of the three years. These miniratnas granted certain autonomy like incurring capital expenditure without government approval up to Rs. 500 crore or equal to their net worth, whichever is lower.

1) Projects & Development india limited 2).Airports Authority of India 2. Antrix Corporation Limited 3. Balmer Lawrie & Co. Limited 4. Bharat Dynamics Limited 5. BEML Limited 6. Bharat Sanchar Nigam Limited 7. Bridge & Roof Company (India) Limited 8. Central Warehousing Corporation 9. Central Coalfields Limited 10. Chennai Petroleum Corporation Limited 11. Cochin Shipyard Limited 12. Container Corporation of India Limited 13. Dredging Corporation of India Limited 14. Engineers India Limited 15. Ennore Port Limited 16. Garden Reach Shipbuilders & Engineers Limited 17. Goa Shipyard Limited 18. Hindustan Copper Limited 19. HLL Lifecare Limited 20. Hindustan Newsprint Limited 21. Hindustan Paper Corporation Limited 22. Housing and Urban Development Corporation 23. India Tourism Development Corporation 24. Indian Railway Catering and Tourism Corporation 25. IRCON International Limited 26. Kudremukh Iron Ore Company Limited. 27. Mazagaon Dock Limited 28. Mahanadi Coalfields Limited 29. Manganese Ore (India) Limited 30. Mangalore Refinery and Petrochemicals Limited 31. Mishra Dhatu Nigam Limited 32. Minerals and Metals Trading Corporation of India 33. MSTC Limited 34. National Fertilizers Limited 35. National Seeds Corporation Limited 36. NHPC Limited 37. Northern Coalfields Limited 38. Numaligarh Refinery Limited 39. ONGC Videsh Limited 40. Pawan Hans Helicopters 41. Rashtriya Chemicals & Fertilizers Limited 42. RITES Limited 43. Satluj Jal Vidyut Nigam 44. Security Printing and Minting Corporation of India Limited 45. South Eastern Coalfields Limited 46. State Trading Corporation of India Limited 47. Tehri Hydro Development Corporation Limited 48. Telecommunications Consultants (India) Limited 49. Western Coalfields Limited 50. Water & Power Consultancy (India) Limited

[16]===Category II=== This category include those PSEs which have made profits for the last three years continuously and should have a positive net worth. Category II miniratnas have autonomy to incurring the capital expenditure without government approval up to Rs. 250 crore or up to 50% of their net worth whichever is lower.

51. Bharat Pumps & Compressors Limited[17]

52. Broadcast Engineering Consultants (I) Limited[18]

53. Central Mine Planning & Design Institute Limited[19]

54. Ed.CIL (India) Limited[20]

55. Engineering Projects (India) Limited[21]

56. FCI Aravali Gypsum & Minerals India Limited[22]

57. Ferro Scrap Nigam Limited[23]

58. HMT (International) Limited[24]

59. HSCC (India) Limited[25]

60. India Trade Promotion Organisation[26]

61. Indian Medicines & Pharmaceuticals Corporation Limited[27]

62. M E C O N Limited[28]

63. National Film Development Corporation Limited[29]

64. National Small Industries Corporation Limited[30]

65. P E C Limited[31]

66. Rajasthan Electronics & Instruments Limited[32]

See also


  1. ^ Original govt. announcement about the Navratnas 1997
  2. ^
  3. ^ "Maharatna status for mega PSUs gets nod". The Times of India. 25 December 2009. Retrieved 29 December 2009. 
  4. ^ The Times Of India. 
  5. ^
  6. ^ The Times Of India. 
  7. ^
  8. ^
  9. ^
  10. ^ Coal India gets Maharatna tag - Economic Times Article
  11. ^ 5 PSUs get maharatna status - Indianexpress
  12. ^ 4 PSUs get maharatna status - Indianexpress
  13. ^ 4 PSUs get maharatna ]status - Indianexpress]
  14. ^ Original govt. announcement about the Navratnas 1997
  15. ^
  16. ^
  17. ^
  18. ^
  19. ^
  20. ^
  21. ^
  22. ^
  23. ^
  24. ^
  25. ^
  26. ^
  27. ^
  28. ^
  29. ^
  30. ^
  31. ^
  32. ^

External links

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