The central government recently upgraded Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) to Navratna status, making them the country’s 25th and 26th companies in this category. With this, all seven listed Central Public Sector Enterprises (CPSEs) under Indian Railways now hold Navratna status. The Indian Railways operates a total of 12 CPSEs.
The government classifies central public sector enterprises (CPSEs) into three categories—Maharatna, Navratna, and Miniratna—based on their financial strength and operational capabilities. The objective behind granting these statuses is to provide greater decision-making power and financial autonomy to these state-run enterprises, allowing them to make investment and project-related decisions without government approval up to a certain threshold.
Also Read: IRCTC, IRFC receive Navratna status
When does PSU get Maharatna, Navratna, or Miniratna status?
A company qualifies for Maharatna status if it is already a Navratna CPSE, listed on Indian stock exchanges with the required public shareholding, and has strong global operations. It must have an average yearly turnover of over Rs 25,000 crore, a net worth above Rs 15,000 crore, and a net profit of more than Rs 5,000 crore over the past three years.
To become a Navratna, a CPSE must first be a Miniratna Category-I and a Schedule ‘A’ company. It should have received a high MOU rating in at least three of the last five years and score at least 60 points on financial and operational performance.
Miniratna CPSEs are divided into two categories:
– Miniratna Category-I: Must be profitable for the last three years, with at least Rs 30 crore pre-tax profit in one year and a positive net worth.
– Miniratna Category-II: Must be profitable for the last three years with a positive net worth, without defaulting on loans or relying on government funding.
At present, India has 14 Maharatna CPSEs, 26 Navratna CPSEs, 49 Miniratna Category-I CPSEs, and 10 Miniratna Category-II CPSEs.
Also Read: India now has 26 Navratna CPSEs; check out full list here
Here’s a full list of CPSEs under the Maharatna, Navratna, and Miniratna categories as of March 2025:
Maharatna CPSEs
1. Bharat Heavy Electricals Limited (BHEL)
2. Bharat Petroleum Corporation Limited (BPCL)
3. Coal India Limited (CIL)
4. GAIL (India) Limited
5. Hindustan Petroleum Corporation Limited (HPCL)
6. Indian Oil Corporation Limited (IOCL)
7. NTPC Limited
8. Oil & Natural Gas Corporation Limited (ONGC)
9. Power Finance Corporation (PFC)
10. Power Grid Corporation of India Limited (PGCIL)
11. Steel Authority of India Limited (SAIL)
12. Rural Electrification Corporation Limited (REC)
13. Oil India Limited
14. Hindustan Aeronautics Limited (HAL)
Navratna CPSEs
1. Bharat Electronics Limited (BEL)
2. Container Corporation of India Limited (CONCOR)
3. Engineers India Limited (EIL)
4. Mahanagar Telephone Nigam Limited (MTNL)
5. National Aluminium Company Limited (NALCO)
6. National Buildings Construction Corporation Limited (NBCC)
7. Neyveli Lignite Corporation Limited (NLC)
8. NMDC Limited
9. Rashtriya Ispat Nigam Limited (RINL)
10. Shipping Corporation of India Limited (SCI)
11. Rail Vikas Nigam Limited (RVNL)
12. ONGC Videsh Ltd
13. Rashtriya Chemicals & Fertilizers Limited (RCFL)
14. IRCON International Limited
15. RITES Limited
16. National Fertilizers Limited (NFL)
17. Central Warehousing Corporation (CWC)
18. Housing & Urban Development Corporation Limited (HUDCO)
19. Indian Renewable Energy Development Agency Limited (IREDA)
20. Mazagon Dock Shipbuilders Limited (MDL)
21. RailTel Corporation of India Limited
22. Solar Energy Corporation of India (SECI) Ltd.
23. NHPC Limited
24. SJVN Limited
25. Indian Railway Catering & Tourism Corporation Limited (IRCTC)
26. Indian Railway Finance Corporation Limited (IRFC)
Miniratna Category-I CPSEs
1. Airports Authority of India (AAI)
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 (BSNL)
8. Braithwaite & Company Limited
9. Bridge & Roof Company (India) Limited
10. Central Coalfields Limited
11. Central Electronics 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. Grid Controller of India Limited (GRID-INDIA)
19. Goa Shipyard Limited
20. Hindustan Copper Limited
21. Hindustan Steelworks Construction Limited
22. Hindustan Organic Chemicals Ltd.
23. HLL Lifecare Limited
24. HSCC (India) Limited
25. India Tourism Development Corporation Limited (ITDC)
26. Indian Rare Earths Limited
27. India Trade Promotion Organization (ITPO)
28. KIOCL Limited
29. Mahanadi Coalfields Limited
30. MOIL Limited
31. Mangalore Refinery & Petrochemicals Limited (MRPL)
32. Mineral Exploration Corporation Limited
33. Mishra Dhatu Nigam Limited (MIDHANI)
34. MMTC Limited
35. MSTC Limited
36. National Projects Construction Corporation Limited (NPCC)
37. National Small Industries Corporation Limited (NSIC)
38. National Seeds Corporation
39. Northern Coalfields Limited
40. North Eastern Electric Power Corporation Limited (NEEPCO)
41. Numaligarh Refinery Limited
42. Pawan Hans Helicopters Limited
43. Projects & Development India Limited (PDIL)
44. Security Printing and Minting Corporation of India Limited
45. South Eastern Coalfields Limited
46. Telecommunications Consultants India Limited (TCIL)
47. THDC India Limited
48. Western Coalfields Limited
49. WAPCOS Limited
Miniratna Category-II CPSEs
1. Artificial Limbs Manufacturing Corporation of India (ALIMCO)
2. Broadcast Engineering Consultants India Limited (BECIL)
3. Engineering Projects (India) Limited (EPIL)
4. FCI Aravali Gypsum & Minerals India Limited (FAGMIL)
5. Ferro Scrap Nigam Limited (FSNL)
6. HMT (International) Limited
7. Indian Medicines & Pharmaceuticals Corporation Limited (IMPCL)
8. MECON Limited
9. National Film Development Corporation Limited (NFDC)
10. Rajasthan Electronics & Instruments Limited (REIL)
Doonited Affiliated: Syndicate News Hunt
This report has been published as part of an auto-generated syndicated wire feed. Except for the headline, the content has not been modified or edited by Doonited
