Maharatna and Navratna of India

Indian PSU companies are divided into three categories:

    • Maharatna
    • Navratna
    • Miniratna


This PSUs are classified as

  • Central Public Sector Enterprises (CPSEs),
  • Public sector banks (PSBs) or
  • State Level Public Enterprises (SLPEs).

There are multiple factors and criterias for granting ‘ratna’ status. However, major criteria of awarding status are:

Maharatna: Three years with an annual net profit of over INR 5000 crore  OR Net worth of INR 10,000 crore For 3 years OR Annual Turnover of INR 20,000 crore

NavratnaA score of 60 (out of 100), based on six parameters which include net profit, net worth, total manpower cost, total cost of production, cost of services, PBDIT (Profit Before Depreciation, Interest and Taxes), capital employed, etc. company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna.

List of Mahratna Companies

  • National Thermal Power Corporation(NTPC)
  • Oil and Natural Gas Corporation(ONGC)
  • Steel Authority of India Limited(SAIL)
  • Bharat Heavy Electricals Limited(BHEL)
  • Indian Oil Corporation Limited(IOCL)
  • Coal India Limited(CIL)
  • Gas Authority of India Limited(GAIL)
  • Bharat Petroleum Corporation Limited(BPCL)


List of Navratna Companies:

  • Bharat Electronics Limited (BEL)
  • Container Corporation of India (CONCOR)
  • Engineers India Limited (EIL)
  • Hindustan Aeronautics Limited (HAL)
  • Hindustan Petroleum Corporation Limited (HPCL)
  • Mahanagar Telephone Nigam Limited (MTNL)
  • National Aluminium Company (NALCO)
  • National Buildings Construction Corporation (NBCC)
  • National Mineral Development Corporation (NMDC)
  • Neyveli Lignite Corporation (NLC)
  • Oil India Limited (OIL)
  • Power Finance Corporation (PFC)
  • Power Grid Corporation of India Limited
  • Rashtriya Ispat Nigam Limited
  • Rural Electrification Corporation (REC)
  • Shipping Corporation of India (SCI)

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Disclaimer : Please take advice of your financial advisor before any investment.

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