Introduction
There are three categories of the Central Public Sector Enterprises (CPSE) as per the Government of India. These categories are the Maharatna, Navratna, and Miniratna. The classification is based on various criteria.
Navratna companies are Public Sector Undertakings (PSUs) with financial autonomy to invest a maximum of Rs. 1,000 crores without the central government’s approval.
What are Navratna companies?
In Sanskrit, “Navratna” means nine gems. In India, a set of companies are recognised as Navratna. They are the leading performers among the PSEs. They contribute to the country’s economy with their tremendous performance.
Navratna companies have greater operational flexibility and don’t require the government’s permission to decide where they’ll invest their money. Their role in areas like engineering, energy, and telecommunications is prominent, and they are recognised for their continuous growth, profitability, and contribution to the economy.
How many Navratna companies are in India?
In 1997, there were 9 such Navratna companies. By 2024, the count has increased to 16. A company must fulfil the prescribed eligibility criteria to achieve Navratna status. Once it becomes a Navratna company, it enjoys operational freedom.
List of Navratna companies in India
As of January 2024, the following Indian companies have a Navratna status.
1. Bharat Electronics Ltd. (BEL)
The company BEL specialises in electronics. It is a producer of defence communication and radar systems and a leading manufacturer of electronic voting machines (EVMs).
2. Container Corporation of India Ltd. (CONCOR)
CONCOR manages logistics infrastructure like dry ports and container freight stations locally and internationally. Its service portfolio includes refrigerated containers, bonded warehousing, air cargo transportation, container repair, less-than-a-container-load (LCL) hub services, etc.
3. Engineers India Ltd. (EIL)
EIL provides engineering consultancy services. It is an expert in technology, supply chain management, project management, and pre-front-end engineering design (FEED).
4. Hindustan Aeronautics Ltd. (HAL)
HAL designs, develops, manufactures, and supplies aircraft, helicopters, and communication equipment for military and civilian uses. It offers services for repair, maintenance, and support for aircraft and accessories for aero engines, aircraft, and helicopters.
5. Mahanagar Telephone Nigam Ltd. (MTNL)
MTNL is a leading telecommunications service provider. It was incorporated in 1986 and is the wholly owned subsidiary of Bharat Sanchar Nigam Ltd. (BSNL). Its fixed-line telecommunication services are offered in Delhi and Mumbai in India and Mauritius in Africa.
6. National Aluminium Company (NALCO)
NALCO is one of the top Indian aluminium producers and exporters. It mines, refines, and smelts alumina and aluminium. It was established in 1981 and is owned by the Ministry of Mines under the Government of India.
7. National Buildings Construction Corporation (NBCC)
NBCC is a CPSE under the Indian government’s Ministry of Housing and Urban Affairs. It is a leader in construction and infrastructure and engages in project management and consultancy services. The company has 31 regional offices across the country, with its headquarters in New Delhi.
8. National Mineral Development Corporation (NMDC)
NMDC is the largest producer and exporter of iron ore in India. It is owned by the Ministry of Steel. NMDC has three mechanised mines in Chhatisgarh and Karnataka. It is also the operator of the country’s only mechanised diamond mine at Panna in Madhya Pradesh.
9. Neyveli Lignite Corporation India Ltd. (NLCIL)
NLCIL was established in 1956. It is wholly owned by the Indian government with administrative control under the Ministry of Coal. The company produces power from renewable energy sources, coal, and lignite.
10. Rashtriya Ispat Nigam Ltd. (RINL)
RINL manages the Vishakhapatnam Steel Plant under the administrative control of the Ministry of Steel. It was established in 1971.
11. Rashtriya Chemicals & Fertilisers Ltd. (RCF)
RCF was incorporated in 1978. It offers a variety of products such as bio-fertilisers, micronutrients, complex fertilisers, neem, urea, etc.
12. Shipping Corporation of India (SCI)
SCI manages cargo and passenger transportation. It was formulated in 1961 when Eastern Shipping Corporation and Western Shipping Corporation came together.
13. Rail Vikas Nigam Ltd. (RVNL)
RVNL executes many railway projects, including bridges, workshops, new lines, and electrification. It supervises all activities of the project cycle from planning to completion, such as funding, design, contract administration, and commissioning.
14. ONGC Videsh Ltd. (OVL)
OVL has operations in Asia Pacific, the Middle East, Russia, Africa, and the Commonwealth of Independent States. It aims to secure production and exploration permits internationally.
15. RITES Ltd.
RITES engages in transportation infrastructure and associated technological services. It caters to several industries like railroads, bridges and tunnels, ropeways, metro areas, and land ports.
16. IRCON International Ltd.
IRCON offers engineering procurement and construction (EPC) services for highways, tunnels, railways, bridges, and other infrastructure projects.
Summing up
You can go through the above Navratna company list to know which PSUs have the Navratna status. Some of these companies have delivered exceptional returns to investors. Make sure you perform thorough research and study the historical performance of these companies before investing.
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