Maharatna Navratna and Miniratna Companies 2024 – Those companies in India are run by the central or state government and are known as public sector enterprises. In this article, we will read about the Maharatna Navratna and Miniratna companies of India, the eligibility and powers for giving the status. This article is based on the questions asked in various examinations of previous years and is updated till January 2024. This article will be important for various exams like UPSC, IAS, SSC MTS, SSC GD, SSC CHSL, SSC CGL, SSC CPO, NDA, CDS, Bank PO, IBPS, State PCS, etc.
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Maharatna Navratna and Miniratna I & II Company
- Such companies in which the government or other CPSEs have 51% or more stake are known as Central Public Service Enterprises and these are known as Maharatna Navratna and Miniratna companies.
- CPSEs function under the Ministry of Heavy Industries and Public Enterprises, Government of India.
- Presently Mahendra Nath Pandey is the Union Minister of Heavy Industries.
CPSEs in India can be classified into 4 parts.
- Maharatna Company
- Navratna Company
- Miniratna I Company
- Miniratna II Company
Now we will read about these companies in detail.
हिंदी में पढ़िए – महारत्न मिनीरत्न व नवरत्न कंपनी
Maharatna Company 2023
Maharatna Navratna and Miniratna Companies – The largest companies under the Government of India have been placed on the list of Maharatna companies. In the year 1964, Bharat Heavy Electricals Limited was given the status of the first Maharatna company by the Government of India.
There are a total of 13 Maharatna companies in India. In the year 2023, Oil India Limited was given the status of 13th Maharatna Company of India.
Following are the names of 13 Maharatna companies in India.
- Coal India Limited
- Oil and Natural Gas Limited [ONGC]
- Bharat Heavy Electricals Limited [BHEL]
- Gas Authority of India Limited [GAIL]
- Indian Oil Corporation Limited [IOCL]
- Steel Authority of India [SAIL]
- NTPC Limited
- Bharat Petroleum Corporation Limited [BPCL]
- Hindustan Petroleum Corporation Limited [HPCL]
- Power Grid Corporation Limited
- Power Finance Corporation [2021]
- REC Limited [2022]
- Oil India Limited [2023]
Criteria for Maharatna Company
Maharatna Navratna and Miniratna Companies – If a company fulfills the following conditions, it is given the status of Maharatna company.
- The company must be Navratna.
- The company should be registered in the Indian stock exchange.
- The average annual turnover of the company in the last 3 years should be more than Rs 25000 crore.
- The total average annual assets of the company in the last 3 years should be more than Rs 15000 crore.
- The total average annual profit of the company during the last 3 years should be more than Rs 5000 crore.
Powers of Maharatna Company
- There is more autonomy as compared to Navratna and Miniratna companies.
- The company has the right to merge and acquire up to 15% of its net worth in India or outside India.
- The company can invest Rs 1000 crore to Rs 5000 crore.
13 Maharatna Companies of India 2023
Maharatna Navratna and Miniratna Companies – Following are the names of 13 Maharatna companies of India, their establishment, headquarters, and current Chairman and Managing Directors.
Bharat Heavy Electricals Limited
BHEL India became the first Maharatna Company of India in 1964
- Established – 1956
- Headquarters – New Delhi
- Chairman and MD – Nalin Singhal
Oil and Natural Gas Limited
India’s largest government oil and gas-producing company
- Established – August 14, 1956
- Headquarters – New Delhi
- Chairman and MD – Arun Kumar Singh
Coal India Limited
- Established – 1975
- Headquarters – Kolkata
- Chairman and MD – P M Prasad
Gas Authority of India Limited
- Established – August, 1984
- Headquarters – New Delhi
- Chairman and MD – Sandeep Kumar Gupta
Indian Oil Corporation Limited
- Established – June 30, 1959
- Headquarters – New Delhi
- Chairman and MD – Shrikant Madhav Vaidya
National Thermal Power Corporation Ltd
- Established – November 7, 1975
- Headquarters – New Delhi
- Chairman & MD – Gurdeep Singh
Steel Authority of India Limited
- Established – January 19, 1954
- Headquarters – New Delhi
- Chairman & MD – Amarendu Prakash
Bharat Petroleum Corporation Limited
- Established – 1952
- Headquarters – Mumbai
- Chairman and MD – G Kishan Kumar
Power Grid Corporation of India
- Established – October 23, 1989
- Headquarters – Gurugram
- Chairman and MD – K Srikanth
Hindustan Petroleum Corporation Limited
- Established – 1974
- Headquarters – Mumbai
- Chairman and MD – Pushp Kumar Joshi
Power Finance Corporation Limited
On 12 October 2021 Power Finance Corporation declared as 11th Maharatna Company of India.
- Established – July 16, 1986
- Headquarters – New Delhi
- Chairman & MD – Parminder Chopra
REC Limited [Rural Electrification Corporation Limited]
In 2022, REC Limited was given the status of the 12th Maharatna Company of India.
- Established – July 25, 1969
- Headquarters – New Delhi
- Chairman and MD – Vivek Kumar Dewangan
Oil India Limited
In the financial year 2022-23, the annual turnover of Oil India was Rs 41039 crore, and net profit was Rs 9854 crore. Therefore, in the year 2023, Oil India Limited was given the status of the 13th Maharatna Company of India.
- Established – 18 February 1959
- Headquarters – Duliajan
- Corporate Office – Noida
- Chairman & MD – Dr. Ranjit Rath
Navratna Company 2023
Maharatna Navratna and Miniratna Companies – Navratna companies are the second largest public sector enterprises after Maharatna companies. At present, there are a total of 11 Navratna companies in India, whose names are as follows.
- Bharat Electronics Limited
- Container Corporation of India Limited
- Engineers India Limited
- Hindustan Aeronautics Limited
- Mahanagar Telephone Nigam Limited
- National Aluminum Company Limited
- National Building Construction Corporation Limited
- Neyveli Lignite Corporation Limited
- NMDC Limited
- Rashtriya Ispat Nigam Limited
- Shipping Corporation of India Limited
Criteria for Navratna Company
Maharatna Navratna and Miniratna Companies – If a company fulfills the following conditions, it is given the status of Navratna company.
- The company must be Miniratna I and the company should have received an Excellence or Very Good rating for 3 years out of the last 5 years.
Must have obtained a score of at least 60 based on the criteria given below.
- Net worth and net profit
- Company’s performance in its sector
- earning per share
- Total cost of manpower compared to total cost of production
- tax on profits and sales before interest payments
- Turnover from PBIT
Miniratna Company 2023
Maharatna Navratna and Miniratna Companies – Miniratna companies are the third largest public sector enterprises after Maharatna companies and Navratna companies. Miniratna company is divided into two categories named Miniratna 1 and Miniratna 2.
Miniratna Company Category I 2023
If a company fulfills the following conditions, it is given the status of Miniratna Company 1.
- To become a Miniratna Category 1 company, the company must be consistently profitable for the last three years.
- Have earned a profit of Rs 30 crore or more in at least one year in the last 3 years.
- At present the total number of Miniratna Category 1 companies is 62.
Miniratna Company Category II 2023
- Miniratna Category 2 company of the Government of India includes such a company that has earned a continuous profit for the last three years and its net worth is positive.
- At present the total number of Miniratna Category II category companies is 12.
Maharatna Miniratna and Navratna companies GK Questions
Question – What are Maharatna, Navratna and Miniratna?
Answer – Maharatna, Navratna, and Miniratna are government companies under the Indian and State Governments, which are known as Central Public Service Undertakings.
Question – What is Central Public Service Enterprise?
Answer – Companies in which the government or other CPSE holds 51% or more stake are known as Central Public Service Enterprises.
Question – Which is the 11th Maharatna company of India?
Answer – The Government of India has given the status of ‘Maharatna Company’ to the state-owned Power Finance Corporation Ltd (PFC) for the year 2021.
Question – Which is the 12th Maharatna company in India?
Answer – The Department of Public Enterprises gave the status of ‘Maharatna Company’ to the Rural Electrification Corporation (REC) on 22 September 2022.
Question – Which company was given the status of the 13th Maharatna Company of India in the year 2023?
Answer – In the financial year 2022-23, the annual turnover of Oil India was Rs 41039 crore, and net profit was Rs 9854 crore. Therefore, in the year 2023, Oil India Limited was given the status of the 13th Maharatna Company of India.
Question – What is the number of Maharatna companies in India by the year 2023?
Answer – Till October 2023, there are a total of 13 Maharatna companies in India whose names are as follows –
- Coal India Limited
- Oil and Natural Gas Limited [ONGC]
- Bharat Heavy Electricals Limited [BHEL]
- Gas Authority of India Limited [Coal]
- Indian Oil Corporation Limited [IOCL]
- Steel Authority of India [SAIL]
- NTPC Limited
- Bharat Petroleum Corporation Limited [BPCL]
- Hindustan Petroleum Corporation Limited [HPCL]
- Power Grid Corporation Limited
- Power Finance Corporation [2021]
- REC Limited [2022]
- Oil India Limited
Question – Which is the first Maharatna company in India?
Answer – Bharat Heavy Electricals Limited became India’s first Maharatna company in 1964.
Question – What is the number of Navratna companies in India?
Answer – As of October 2023, there are 11 Navratna companies in India, whose names are as follows.
- Bharat Electronics Limited
- Container Corporation of India Limited
- Engineers India Limited
- Hindustan Aeronautics Limited
- Mahanagar Telephone Nigam Limited
- National Aluminum Company Limited
- National Building Construction Corporation Limited
- Neyveli Lignite Corporation Limited
- NMDC Limited
- Rashtriya Ispat Nigam Limited
- Shipping Corporation of India Limited
In this article, we have read the important facts from the examination point of view including Maharatna Navratna and Miniratna I & II companies, eligibility, and powers for granting the status. We hope you liked this article.