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Maharatna, Navaratna, Miniratna Companies, Status, Eligibility Details

Subject : Latest List of Maharatna, Navaratna, Miniratna CPSEs.

A CPSE called as Central Public Sector Enterprises which was given a limited at last and have more than 51% of direct hold Government share , is treated as a Public Sector Enterprise, which are listed in the Indian Stock exchanges.There are three categories dived among the CPSEs, they are Maharatna, Navaratna, Miniratna ( Category-I, Category-II ). They were classified among there investment and growth and many more aspects in which they will be allocated the freedom for themselves in Placements and any of government policies.

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. 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. These can be given at Central Public Sector Enterprises all over the country.

Eligibility for having Maharatna Status :
  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 crore during the last 3 years. Earlier it was Rs 25,000 Crore.   
  4. An average annual net worth of more than Rs. 10,000 crore during the last 3 years. Earlier it was Rs. 15,000 crore.   
  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.
  6. Should have significant global presence/international operations.
Maharatna CPSEs :
  1.     Bharat Heavy Electricals Limited
  2.     GAIL (India) Limited
  3.     Indian Oil Corporation Limited
  4.     NTPC Limited
  5.     Oil & Natural Gas Corporation Limited
  6.     Steel Authority of India Limited
  7.     Coal India Limited (Recently Given).
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. The number of PSEs having Navratna status has been raised to 14.

Eligibility for having Navaratna Status :
  1. Having Schedule ‘A’ and Miniratna Category-1 status.
  2. Having atleast three ‘Excellent’ or ‘Very Good’ Memorandum of Understanding (MoU) ratings during the last five years.
  3. Having a composite score of 60 or above out of 100 marks based on its performance during the last three years on the following six identified efficiency parameters.
Performance Parameters :

    Net Profit to Net Worth
    Manpower cost to cost of production or services
    Gross margin as capital employed
    Gross profit as Turnover
    Earnings per Share
    Inter-Sectoral comparison based on Net profit to net worth

List of Navratna CPSEs :
  1.     Bharat Electronics Limited
  2.     Bharat Petroleum Corporation Limited
  3.     Hindustan Aeronautics Limited
  4.     Hindustan Petroleum Corporation Limited
  5.     Mahanagar Telephone Nigam Limited
  6.     National Aluminium Company Limited
  7.     National Mineral Development Corporation Limited
  8.     Oil India Limited
  9.     Power Finance Corporation Limited
  10.     Power Grid Corporation of India Limited
  11.     Rashtriya Ispat Nigam Limited
  12.     Rural Electrification Corporation Limited
  13.     Shipping Corporation of India Limited
  14.     Neyveli Lignite Corporation Limited ( Recently Given ).
Miniratna Status :

There are two categories in the miniratna category, In order to make the public sector undertaking more competitive and efficient as a policy objective, it was decided by the government to allow increased autonomy and transferring of power to the profitable enterprises.Thus 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 41 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.

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. 300 crore or up to 50% of their net worth whichever is lower.

Miniratna Category - I CPSEs :
  1.     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 & Urban Development Corporation Limited
  23.     India Tourism Development Corporation Limited 
  24.     Indian Railway Catering & Tourism Corporation Limited
  25.     IRCON International Limited
  26.     KIOCL Limited
  27.     Mazagaon Dock Limited
  28.     Mahanadi Coalfields Limited
  29.     Manganese Ore (India) Limited
  30.     Mangalore Refinery & Petrochemical Limited
  31.     Mishra Dhatu Nigam Limited
  32.     MMTC Limited
  33.     MSTC Limited
  34.     National Fertilizers Limited
  35.     National Seeds Corporation Limited
  36.     NHPC Limited
  37.     Northern Coalfields Limited
  38.     North Eastern Electric Power Corporation Limited
  39.     Numaligarh Refinery Limited
  40.     ONGC Videsh Limited
  41.     Pawan Hans Helicopters Limited
  42.     Projects & Development India Limited
  43.     Railtel Corporation of India Limited
  44.     Rashtriya Chemicals & Fertilizers Limited
  45.     RITES Limited
  46.     SJVN Limited
  47.     Security Printing and Minting Corporation of India Limited
  48.     South Eastern Coalfields Limited
  49.     State Trading Corporation of India Limited
  50.     Telecommunications Consultants India Limited
  51.     THDC India Limited
  52.     Western Coalfields Limited
  53.     WAPCOS Limited
Miniratna Category-II CPSEs :
  1.     Bharat Pumps & Compressors Limited
  2.    Broadcast Engineering Consultants (I) Limited
  3.     Central Mine Planning & Design Institute Limited
  4.     Ed.CIL (India) Limited
  5.     Engineering Projects (India) Limited
  6.     FCI Aravali Gypsum & Minerals India Limited
  7.     Ferro Scrap Nigam Limited
  8.     HMT (International) Limited
  9.     HSCC (India) Limited
  10.     India Trade Promotion Organisation
  11.     Indian Medicines & Pharmaceuticals Corporation Limited
  12.     M E C O N Limited
  13.     National Film Development Corporation Limited
  14.     National Small Industries Corporation Limited
  15.     P E C Limited
  16.     Rajasthan Electronics & Instruments Limited

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