Concept of Maharatna, Navratna and Miniratna
Maharatna, Navratna and Miniratna status
- Government of India has accorded ‘Maharatna’ status to public sector undertaking’s (PSU’s) Hindustan Petroleum Corporation Limited (HPCL) and Power Grid Corporation.
Maharatna, Navratna and Miniratna status
- Status of Maharatna, Navaratna and Miniratna is given to the Central Public Sector Companies (CPSE) in India.
- The Department of Public Enterprises under Ministry of Heavy Industries & Public Enterprises is the nodal department for all the Central Public Sector Enterprises (CPSEs).
- It makes policies and guidelines for the performance evaluation and improvement of the PSUs/ CPSEs.
Eligibility Criteria
Maharatna
- Having Navratna status.
- Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
- Average annual turnover of more than 25,000 crore, during the last 3 years.
- Average annual net worth of more than 15,000 crore, during the last 3 years.
- Average annual net profit after tax of more than 5,000 crore, during the last 3 years.
- Should have significant global presence/international operations.
Navaratna
- A CPSE which falls under the Miniratna (Category – I and Schedule ‘A’ CPSEs), has obtained rating of ‘very good’ or ‘excellent’ in 3 of the last 5 years.
- A CPSE which has composite score of 60 or above in the 6 selected performance parameters, namely;
- Net profit to net worth
- Earnings per share
- Profit before interest and taxes to turnover
- Profit before depreciation, interest and taxes to capital employed
- Manpower cost to total cost of production/services
- Inter-Sectoral performance
Miniratna
- Those CPSEs which fulfill these two criteria are eligible to be considered for grant of Miniratna status.
- The CPSEs which have made profits in the last 3 years continuously
- The CPSEs which have positive net worth.
- As of 2019, there are 10 Maharatnas, 14 Navratnas and 73 Miniratnas.
- There are nearly 300 CPSEs (central public sector enterprises) in total.
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