Maharatna, Navratna & Miniratna Status of CPSEs: NPCC is now a Miniratna

The Union Government on November 27, 2018 conferred the ‘Miniratna status: Category –I’ on the National Projects Construction Corporation Limited (NPCC).

The empowerment of Miniratna Status will help NPCC in taking speedy decisions by enhancing the delegation of powers to the Board.

NPCC has also been awarded with the ISO 9001:2015 Certification.

National Projects Construction Corporation Limited

National Projects Construction Corporation Limited (NPCC), a schedule ‘B’ Central Public Sector Enterprise (CPSE) under the administrative control of Ministry of Water Resources, was incorporated in 1957.

It is a premier construction company having mandate with creation of infrastructure to provide impetus for economic development of the country.

The Corporation is making continuous profit since 2009-10, having positive networth for the last six years and has ambitious business plan with enhanced order book position of Rs 11833 crore.

Department of Public Enterprises: Nodal Government Agency for granting status to CPSEs

The Public Sector Enterprises are run by the Government under the Department of Public Enterprises (DPE) of Union Ministry of Heavy Industries and Public Enterprises.

The Department of Public Enterprises is the Nodal Government agency to issue guidelines and regulation for the various state-owned CPSEs in India.

The DPE also makes policies and guidelines for the performance evaluation and improvement of the PSUs/ CPSEs.

The government grants the status of Maharatna, Navratna, and Miniratna to Public Sector Undertakings (PSUs) and Central Public Sector Enterprises (CPSEs) based upon the profit made by these enterprises.

The Maharatna, Navratna and Miniratna statuses give financial and administrative power to the companies to a certain extent.

The Maharatna category has been the most recent one, created in 2009, while the other two have been in function since 1997.

Apart from these, PSUs in India are also categorised based on their special non-financial objectives and are registered under Section 8 of Companies Act, 2013.

Total number of Maharatna, Navratna and Miniratna PSEs

As on August, 2018, there are 8 Maharatnas, 16 Navratnas and 60 Miniratna Category - I and 15 Miniratna Category - II Public Sector Enterprises (PSEs). There are nearly 300 CPSEs in total.

Maharatna Status of CPSEs

In 2009, the Union Government established the Maharatna Status. The Maharatna Company Board has the highest authority in the matter of finance and investments.

Eligibility criteria

The CPSEs shall fulfill the following eligibility criteria to be considered for grant of Maharatna status:

Should already hold the Navratna status

Should be listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations

Average annual turnover of more than Rs 25000 crore during the last 3 years

Average annual net worth of more than Rs 15000 crore during the last 3 years

Average annual net profit after tax of more than Rs 5000 crore during the last 3 years

Should have significant global presence or international operations

Investment ceiling

Maharatna Status raises a company's investment ceiling from Rs 1000 crore to Rs 5000 crore. The Maharatna firms can decide on investments of up to 15 percent of their net worth in a project.

Maharatna PSEs

Sl. No.

Company Name

1

Bharat Heavy Electricals Limited

2

Bharat Petroleum Corporation Limited

3

Coal India Limited

4

GAIL (India) Limited

5

Indian Oil Corporation Limited

6

NTPC Limited

7

Oil & Natural Gas Corporation Limited

8

Steel Authority of India Limited

Navratna status of CPSEs

Eligibility criteria

The CPSEs shall fulfill the following eligibility criteria to be considered for grant of Navratna status:

Must have ‘Miniratna Category – I’ status along with a Schedule ‘A’ listing.

Should have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding at least thrice in the last five years of operations

Should have a composite score of 60 or above out of possible 100 marks in the 6 selected performance parameters:-

1. Net profit to net worth
2. Manpower cost to total cost of production/services
3. Profit before depreciation, interest and taxes to capital employed
4. Profit before interest and taxes to turnover
5. Earnings per share
6. Inter-sectoral performance

Investment ceiling

Navratna Status allows the companies to invest up to Rs 1000 crore or 15 percent of their net worth on a single project or 30 percent of their net worth in the whole year (not exceeding Rs 1000 crores).

Navratna PSEs

Sl. No.

Company Name

1

Bharat Electronics Limited

2

Container Corporation of India Limited

3

Engineers India Limited

4

Hindustan Aeronautics Limited

5

Hindustan Petroleum Corporation Limited

6

Mahanagar Telephone Nigam Limited

7

National Aluminium Company Limited

8

National Buildings Construction Corporation Limited

9

NMDC Limited

10

Neyveli Lignite Corporation Limited

11

Oil India Limited

12

Power Finance Corporation Limited

13

Power Grid Corporation of India Limited

14

Rashtriya Ispat Nigam Limited

15

Rural Electrification Corporation Limited

16

Shipping Corporation of India Limited

Miniratna Status of CPSEs

Eligibility criteria

The CPSEs which have made profits in the last three years continuously and have positive net worth are eligible to be considered for grant of Miniratna status.

The Miniratnas are divided in two categories – I and II.

1. Category I: Miniratnas that have made profits for the last three years continuously or earned a net profit of Rs 30 crores or more in one of these three years. There are 60 such companies.
2. Category II: Miniratnas that have made profits continuously for the last three years and must have a positive net worth. There are 15 such companies in this category.

Investment ceiling

The Miniratna Category - I PSEs are allowed to invest up to Rs 500 crore or equal to their net worth, whichever is lower. The Miniratna Category - II PSEs can invest up to Rs 300 crore or up to 50 percent of their net worth, whichever is lower.


Miniratna Category - I PSEs

Miniratna Category - II PSEs

Sl. No.

Company Name

Company Name

1

Airports Authority of India

Artificial Limbs Manufacturing Corporation of India

2

Antrix Corporation Limited

Bharat Pumps & Compressors Limited

3

Balmer Lawrie & Co. Limited

Broadcast Engineering Consultants (I) Limited

4

BEML Limited

Central Mine Planning & Design Institute Limited

5

Bharat Coking Coal Limited

Central Railside Warehouse Company Limited

6

Bharat Dynamics Limited

Engineering Projects (India) Limited

7

Bharat Sanchar Nigam Limited

FCI Aravali Gypsum & Minerals India Limited

8

Bridge & Roof Company (India) Limited

Ferro Scrap Nigam Limited

9

Central Coalfields Limited

HMT (International) Limited

10

Central Warehousing Corporation

Indian Medicines & Pharmaceuticals Corporation Limited

11

Chennai Petroleum Corporation Limited

M E C O N Limited

12

Cochin Shipyard Limited

Mineral Exploration Corporation Limited

13

Dredging Corporation of India Limited

National Film Development Corporation Limited

14

Ed.CIL (India) Limited

P E C Limited

15

Garden Reach Shipbuilders & Engineers Limited

Rajasthan Electronics & Instruments Limited

16

Goa Shipyard Limited

 

17

Hindustan Copper Limited

 

18

Hindustan Newsprint Limited

 

19

Hindustan Paper Corporation Limited

 

20

HLL Lifecare Limited

 

21

Housing & Urban Development Corporation Limited

 

22

HSCC (India) Limited

 

23

India Tourism Development Corporation Limited

 

24

India Trade Promotion Organisation

 

25

Indian Railway Catering & Tourism Corporation Limited

 

26

Indian Railway Finance Corporation Limited

 

27

Indian Rare Earths Limited

 

28

Indian Renewable Energy Development Agency Limited

 

29

IRCON International Limited

 

30

Kamarajar Port Limited

 

31

KIOCL Limited

 

32

Mahanadi Coalfields Limited

 

33

Mangalore Refinery & Petrochemical Limited

 

34

Manganese Ore (India) Limited

 

35

Mazagaon Dock Limited

 

36

Mishra Dhatu Nigam Limited

 

37

MMTC Limited

 

38

MSTC Limited

 

39

National Fertilizers Limited

 

40

National Seeds Corporation Limited

 

41

National Small Industries Corporation Limited

 

42

NHPC Limited

 

43

North Eastern Electric Power Corporation Limited

 

44

Northern Coalfields Limited

 

45

Numaligarh Refinery Limited

 

46

ONGC Videsh Limited

 

47

Pawan Hans Helicopters Limited

 

48

Projects & Development India Limited

 

49

Rail Vikas Nigam Limited

 

50

Railtel Corporation of India Limited

 

51

Rashtriya Chemicals & Fertilizers Limited

 

52

RITES Limited

 

53

Security Printing and Minting Corporation of India Limited

 

54

SJVN Limited

 

55

South Eastern Coalfields Limited

 

56

State Trading Corporation of India Limited

 

57

Telecommunications Consultants India Limited

 

58

THDC India Limited

 

59

WAPCOS Limited

 

60

Western Coalfields Limited

 

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