List of Maharatna, Navratna & Miniratna Companies in India’s Public Sector Undertakings (PSUs)

India’s Public Sector Undertakings (PSUs)

In the dynamic landscape of India’s Public Sector Undertakings (PSUs), there exists a notable classification system that categorizes these entities based on their financial prowess, operational autonomy, and global footprint. Maharatna, Navratna, and Miniratna are the prominent categories that delineate the hierarchy among Central Public Sector Enterprises (CPSEs). Understanding these distinctions is pivotal, especially for stakeholders, investors, and those aspiring to engage with these entities.

Maharatna Companies: Pioneers of Autonomy and Influence

Maharatna CPSEs, a designation introduced in 2009, epitomize the zenith of the PSU hierarchy. With a mere 13 entities holding this prestigious title, Maharatna companies command substantial power, autonomy, and global influence. To qualify as a Maharatna CPSE, stringent criteria must be met:

• Financial Performance: An annual turnover of at least Rs. 25,000 crores, a net worth of Rs. 15,000 crores, and a net profit of Rs. 5,000 crores over the past three years are prerequisites.
• Global Operations: These entities must demonstrate a significant international presence, reflecting their global outreach and impact.

Operational autonomy is a hallmark of Maharatna CPSEs. They enjoy unparalleled freedom in decision-making, particularly regarding investments, joint ventures, and strategic expansions. With a board composition comprising functional and non-official directors, these companies operate as bastions of innovation and enterprise.

Navigating Navratna Companies: Empowering Growth and Autonomy

Navratna CPSEs, comprising 16 distinguished entities, represent a tier below Maharatna companies yet wield substantial influence and operational autonomy. To attain Navratna status, CPSEs must fulfill the following criteria:

• Financial Metrics: A minimum annual turnover of Rs. 6,000 crores, a net worth of Rs. 2,000 crores, and a net profit of Rs. 1,000 crores over the past three years.
• Operational Autonomy: Navratna CPSEs are empowered with significant operational freedom, allowing for strategic investments and expansion initiatives.

The composition of their boards, with a blend of functional and non-official directors, underscores a commitment to governance and excellence.

Miniratna CPSEs: Nurturing Potential with Moderate Autonomy

Within the spectrum of CPSEs, Miniratna entities are further classified into two categories, each with its distinct characteristics:

Miniratna Category-1

Miniratna Category-1 CPSEs, numbering 57, exemplify sustained profitability and positive net worth over the past three years. While they possess a moderate degree of operational autonomy, adherence to government guidelines remains imperative.

Miniratna Category-2

In contrast, Miniratna Category-2 CPSEs, numbering 11, display continuous profitability despite potentially grappling with a negative net worth. These entities, though subject to certain limitations and government oversight, contribute significantly to India’s economic landscape.

Unveiling the Titans: Maharatna, Navratna & Miniratna Companies

Maharatna CPSEs

Navratna CPSEs

Miniratna I CPSEs

Miniratna II CPSEs

In summary, the categorization of Maharatna, Navratna, and Miniratna CPSEs underscores the multifaceted nature of India’s public sector. These entities, with their distinct characteristics and contributions, form the bedrock of the nation’s economic resilience and growth trajectory.