Maharatna, Navratna & Miniratna Companies in India List 2023

In India, Central Public Sector Enterprises (CPSEs) are often called by the name of PSUs or PSEs. Those PSUs in the different sectors do well up to certain parameters get the “Ratna Statuses”. These companies with a Ratna Status are further classified into Maharatna, Navratna & Miniratna Companies (Category I and Category II). Candidates preparing for UPSC and other competitive exams should try to memorize the name of these companies. It is so because questions are often derived from these lists. In this article, we are providing the latest list of all Maharatana, Navratna and Miniratna (Category I and Category II) Companies in India in 2023.

Maharatna Companies in India 2023

What are Maharatna Companies?

In simple words, we can say that Maharatna Companies are those that can raise an investment Ceiling of Rs. 5000 Crore and are free to decide about their Investments of  up to 15% of their net worth in a Project.

Criteria for Maharatna Companies

To get a Maharatna status, a company should meet the following criteria.

  • The company should have an average annual net profit of over Rs. 2500 crores.
  • Those companies with an annual net worth of Rs. 10,000/- Crore for 3 years Or Average annual Turnover of Rs. 20,000 crore for 3 years are also eligible to get this status.
  • These companies are free to decide on investments up to 15% of their net worth in a project.

List of Maharatna Companies in India 2023

There are total 12 Maharatna companies in India as per the year 2023.

  1. National Thermal Power Corporation (NTPC)
  2. Oil and Natural Gas Corporation (ONGC)
  3. Steel Authority of India Limited (SAIL)
  4. Bharat Heavy Electricals Limited (BHEL)
  5. Indian Oil Corporation Limited (IOCL)
  6. Hindustan Petroleum Corporation Limited (HPCL)
  7. Coal India Limited (CIL)
  8. Gas Authority of India Limited (GAIL)
  9. Bharat Petroleum Corporation Limited (BPCL)
  10. Power Grid Corporation of India (PGCIL)
  11. Power Finance Corporation
  12. Rural Electrification Corporation Limited
  13. Oil India Ltd

Navratna Companies in India

What are Navratna Companies?

Navratna companies are those Public Sector Enterprises (PSEs) that have the authority to decide on their investment up to Rs. 1000 crore or 15% of their net worth on a single project without any requirement of approval from the government.

Criteria for Navratna Companies

  • In order to get the status of a Navratna, the company should have a score of 60 (out of 100). This score is given on the basis of the following six parameters –
    • Net profit
    • Net worth
    • Total manpower cost
    • Total cost of production
    • Cost of services
    • PBDIT (Profit Before Depreciation, Interest and Taxes), capital employed, etc.
  • Please note that the company first needs to be a miniratna and then only can get promoted to a Navratna. Plus, it must have 4 independent directors on its board before it can be made a Navratna.

List of Navratna Companies in India 2023

Here is list of navratna companies in India in 2023:

  1. Shipping Corporation of India Limited
  2. Rashtriya Ispat Nigam Limited
  3. NMDC Limited
  4. Neyveli Lignite Corporation Limited
  5. National Buildings Construction Corporation Limited
  6. National Aluminium Company Limited
  7. Mahanagar Telephone Nigam Limited
  8. Hindustan Aeronautics Limited
  9. Engineers India Limited
  10. Container Corporation of India Limited
  11. Bharat Electronics Limited
  12. ONGC Videsh Ltd
  13. Rail Vikas Nigam Limited

What are Miniratna Companies?

The miniratna companies are further classified into two categories i.e. Miniratna PSU Category I and Miniratna PSU Category II. Companies in Category I have the authority to decide on the investment of up to Rs. 500 crore or equal to their net worth, whichever is lower without seeking approval from the government. On the other hand, Companies in Category II can decide on the investment of  up to Rs. 300 crore or equal 50% of their net worth whichever is lower without government approval.

Criteria for a Miniratna Company

  • The criteria for Miniratna Category I companies are that they must have made profits continuously for the last 3 years or earned a net profit of at least Rs. 30 crore or more in one of the three years.
  • Companies in Category II should have made profits continuously for the last three years and should have a positive net worth.

List of Miniratna I Companies in India 2023

  1. WAPCOS Limited
  2. Western Coalfields Limited
  3. THDC India Limited
  4. Telecommunications Consultants India Limited
  5. South Eastern Coalfields Limited
  6. Security Printing and Minting Corporation of India Limited
  7. SJVN Limited
  8. RITES Limited
  9. Rashtriya Chemicals & Fertilizers Limited
  10. Railtel Corporation of India Limited
  11. Projects & Development India Limited
  12. Pawan Hans Helicopters Limited
  13. ONGC Videsh Limited
  14. Numaligarh Refinery Limited
  15. North Eastern Electric Power Corporation Limited
  16. Northern Coalfields Limited
  17. NHPC Limited
  18. National Seeds Corporation
  19. National Small Industries Corporation Limited
  20. National Projects Construction Corporation Limited
  21. National Fertilizers Limited
  22. MSTC Limited
  23. MMTC Limited
  24. Mishra Dhatu Nigam Limited
  25. Mineral Exploration Corporation Limited
  26. Mangalore Refinery & Petrochemical Limited
  27. MOIL Limited
  28. Mahanadi Coalfields Limited
  29. Mazagaon Dock Shipbuilders Limited
  30. KIOCL Limited
  31. IRCON International Limited
  32. India Trade Promotion Organization
  33. Indian Renewable Energy Development Agency Limited
  34. Indian Railway Finance Corporation Limited
  35. Indian Railway Catering & Tourism Corporation Limited
  36. Indian Rare Earths Limited
  37. India Tourism Development Corporation Limited
  38. HSCC (India) Limited
  39. Housing & Urban Development Corporation Limited
  40. Hindustan Paper Corporation Limited
  41. HLL Lifecare Limited
  42. Hindustan Steelworks Construction Limited
  43. Hindustan Copper Limited
  44. Goa Shipyard Limited
  45. Garden Reach Shipbuilders & Engineers Limited
  46. EdCIL (India) Limited
  47. Cotton Corporation of India Ltd.
  48. Cochin Shipyard Limited
  49. Chennai Petroleum Corporation Limited
  50. Central Mine Planning & Design Institute Limited
  51. Central Coalfields Limited
  52. Central Warehousing Corporation
  53. Bridge & Roof Company (India) Limited
  54. Braithwaite & Company Limited
  55. Bharat Sanchar Nigam Limited
  56. BEML Limited
  57. Bharat Dynamics Limited
  58. Bharat Coking Coal Limited
  59. Balmer Lawrie & Co. Limited
  60. Antrix Corporation Limited
  61. Airports Authority of India

List of Miniratna II Companies in India 2023

  1. Rajasthan Electronics & Instruments Limited
  2. National Film Development Corporation Limited
  3. MECON Limited
  4. Indian Medicines & Pharmaceuticals Corporation Limited
  5. Ferro Scrap Nigam Limited
  6. HMT (International) Limited
  7. FCI Aravali Gypsum & Minerals India Limited
  8. Engineering Projects (India) Limited
  9. Broadcast Engineering Consultants India Limited
  10. Bharat Pumps & Compressors Limited
  11. Artificial Limbs Manufacturing Corporation of India

Frequently Asked Questions

Which companies first got the maharatna status in the year 2010?

The following companies got Maharatna status in the year 2010.
Steel Authority of India (SAIL)
Coal India Limited
Bharat Heavy Electricals Limited (BHEL)
Indian Oil Corporation Limited (IOC)
National Thermal Power Corporation Limited (NTPC)
Oil and Natural Gas Corporation Limited (ONGC)

What is the main benefit to a company to for being a Maharatna company? 

The main benefit is that they can invest up to Rs. 5000 crore or 15% of their net worth, whichever is lower without government permission.

How many Maharatna Companies are there in India in 2023?  

Currently, there are 13 Maharatna Companies in India.

What is the difference between Maharatna and Navratna?

The main difference is that Maharatna company can invest up to Rs. 5000 crores without government permission on a single project. On the other hand, Navratna company can invest only up to Rs. 1000 crore.

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