List of Navratna Companies in India
Navratna companies are elite Public Sector Undertakings (PSUs) recognized for their exceptional financial and operational performance. They can independently undertake significant investments up to ₹1,000 crore without Central Government approval.
What is a Navratna Company
A Navratna company is a prestigious public sector undertaking in India granted Navratna status. These companies are pivotal to the economy and hold a significant position both domestically and globally. With Navratna status, they gain authority in areas like capital expenditure, investments in joint ventures or subsidiaries, and human resources management.
Benefits of Being a Navratna Company in India
Navratna companies enjoy several advantages, including the ability to:
- Invest up to ₹1,000 crore or 15% of their net worth in a single project without government approval.
- Invest up to 30% of their net worth annually, provided it stays below ₹1,000 crore.
- Engage in joint ventures, form alliances, and establish subsidiaries overseas.
Eligibility Criteria to Become a Navratna Company
To attain Navratna status, a company must meet the following criteria set by the Government of India:
- Hold Miniratna Category I status and be listed under Schedule A of CPSEs.
- Consistently achieve an outstanding rating under the Memorandum of Understanding system for at least three out of the last five years.
- Meet specific benchmarks in six key areas: net profit to net worth, PBDIT to capital employed, gross margin as capital expenditure, manpower cost to cost of production or services, gross profit as turnover, and earnings per share.
- Achieve a composite score of 60 or above in these areas mentioned below:
List of Navratna Companies in India 2024
- Bharat Electronics Limited (BEL) – Established in 1954, BEL specializes in electronics for defense.
- Container Corporation of India Limited (CONCOR) – Founded in 1988, CONCOR provides logistics solutions.
- Engineers India Limited (EIL) – Established in 1965, EIL offers engineering consultancy services.
- Hindustan Aeronautics Limited (HAL) – Founded in 1940, HAL is a major aerospace and defense company.
- Mahanagar Telephone Nigam Limited (MTNL) – Established in 1986, MTNL provides telecommunications services.
- National Aluminium Company Limited (NALCO) – Founded in 1981, NALCO is involved in bauxite mining and aluminum production.
- National Buildings Construction Corporation Limited (NBCC) – Established in 1960, NBCC is known for construction and project management.
- Neyveli Lignite Corporation Limited (NLC) – Founded in 1956, NLC specializes in lignite mining and power generation.
- National Mineral Development Corporation Limited (NMDC) – Established in 1958, NMDC is the largest iron ore producer in India.
- Rashtriya Ispat Nigam Limited (RINL) – Also known as Vizag Steel, founded in 1971, focuses on steel production.
- Shipping Corporation of India Limited (SCI) – Established in 1961, SCI is a major shipping and maritime service provider.
- Rail Vikas Nigam Limited (RVNL) – Founded in 2003, RVNL focuses on rail infrastructure development.
- ONGC Videsh Ltd (OVL) – Established in 1965, OVL is the international arm of ONGC.
- Rashtriya Chemicals & Fertilizers Limited (RCF) – Founded in 1978, RCF produces fertilizers and industrial chemicals.
- IRCON International Limited – Founded in 1976, IRCON specializes in infrastructure projects.
- RITES Limited – Established in 1974, RITES provides transport infrastructure consultancy and engineering services.
These companies have demonstrated exceptional financial and operational performance, gaining more autonomy in their investment decisions and contributing significantly to India’s economy.
The Bottom Line
Navratna companies in India play a crucial role across various sectors, including energy, engineering and telecommunications, serving as the backbone of the nation’s industrial growth. They contribute significantly to India’s economic development by undertaking substantial investments, driving innovation and delivering high-quality products and services.