Today (March 3), two companies, including IRFC and IRCTC have received the status of Navratna CPSEs (Central Public Sector Enterprises) by the government. With this, India now has a total of 26 Navratna companies.
The newly added companies IRCTC and IRFC will take the 25th and 26th positions, respectively. Read more here
Companies that play an important role in the country’s economy receive Navratna status. These companies have to fulfill criteria set by the government. Some of these criteria include a company already holding a “Miniratna” status, receiving an excellent rating in the Memorandum of Understanding (MoU) system for at least three of the past five years, and achieving a composite score of 60 or more across key performance indicators like net profit, net worth, and earnings per share.
Here is the full list of Navratna CPSEs.
1. Bharat Electronics Limited
2. Container Corporation of India Limited
3. Engineers India Limited
4. Mahanagar Telephone Nigam Limited
5. National Aluminium Company
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 Ltd
13. Rashtriya Chemicals & Fertilizers Limited
14. IRCON
15. RITES
16. National Fertilizers Limited
17. Central Warehousing Corporation
18. Housing & 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) Ltd.
23. NHPC Limited
24. SJVN Limited
25. IRCTC
26. IRFC
Benefits of Navratna status for a company
- To a certain limit, the Navratna companies can make quick decisions on investments, mergers, and joint ventures without the government’s approval.
- They have more rights over capital expenditures, human resource management, and investments in subsidiaries or joint ventures. They can invest up to Rs 1,000 crore or 15 per cent of their net worth in a single project without government approval.
- Navratna status signifies excellent performance, attracting better talent and partnerships.
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