Maharatna Companies in India 2023, List, Eligibility Criteria

Maharatna Companies in India

Maharatna Companies in India 2023: India’s list of 2023 Navratna and Maharatna companies Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs), or State Level Public Enterprises are possible categories for public sector entities (SLPEs). The Ministry of Heavy Industries and Public Enterprises is in charge of managing CPSEs.All Central Public Sector Enterprises are coordinated under the Department of Public Enterprises (DPE) (CPSEs). CPSE policy is developed by DPE. These regulations largely deal with the management of staff, financial autonomy, and performance evaluation and improvement. There are 14 Navratna Companies and 12 Maharatna Companies in India as of December 2022.

Maharatna Companies List

In India, the national government established Maharatna Companies in 2010. India has its own businesses that are government-owned and are known as Central Public Sector Enterprises (CPSEs). These companies are classified as Maharatna Company, Navratna Company, and Miniratna Company depending on their degree of financial independence. These businesses were founded with the intention of giving businesses more financial freedom and supporting their entry into the global market. There are 12 Maharatna Companies in India at the moment.

Maharatna Companies of India

In India, a Maharatna Company is one that the national government has granted status. These are the businesses that were already Navaratna Companies. Maharatna Companies have more financial and administrative freedom, which aids in their expansion and competitiveness on a global scale. Additionally, these businesses have more discretion over the investments they make 15% of their net worth is the maximum they can put into a project. Maharatna Companies in India operate with a fair amount of autonomy and are not required to get permission from the government before making any decisions. Due to the greater level of operation for these enterprises, their investment cap is set at Rs. 5,000 crores. There are 12 Maharatna enterprises in India altogether.

Maharatna Companies Eligibility Criteria

In India, the Companies Act of 2013 governs the establishment of all government-owned businesses. Section 8 of the same Act governs the creation of Indian PSUs. Based on predetermined goals that are both financial and non-financial in nature, they are categorised as Maharatna Companies. The following is a list of requirements that an endeavour must meet in order to qualify as a Maharatna Company.

• It must be registered as a Navratna Company.
• The Indian Stock Exchange is where it must be listed.
• In accordance with SEBI (Securities and Exchange Board of India) regulations, it must also possess the required public shareholding.
• Over the previous three years, the company should have made a profit after taxes of at least Rs. 5000 crores.
• The company must have had an average net value of Rs. 15,000 over the previous three years.
• The company must operate globally and have an international presence.

Maharatna Companies in India Benefits

• Due to their position, the Maharatna Companies and their employees are entitled to a number of perks. These are a few of the most significant businesses in the nation. The following list of Maharatna firms in India’s benefits is offered.
• Maharatna Companies also receive a benefit from investments. They may invest 15% of their total net wealth, or up to Rs. 5,000 crores, in a project that fits their definition.
• Employees of Maharatna Companies are treated the same as those employed by the federal government and are entitled to the same privileges and benefits, including pensions, etc.
• At higher levels, the officers in these companies become Gazetted Officers.
• These businesses are well-known around the world and frequently take part in international projects.

1st & Latest Maharatna Companies in India 2023

Bharat Heavy Electricals Limited was the first to be given the status of Maharatna company. The government has approved the grant of Maharatna status to Bharat Heavy Electricals Limited (BHEL) and Gas Authority of India Ltd. (GAIL). This decision was communicated on 1st February 2013. The latest added to the list is Rural Electrification Corporation (REC) in 2022.

Bharat Heavy Electricals Limited was the first to be given the status of Maharatna company. The government has approved the grant of Maharatna status to Bharat Heavy Electricals Limited (BHEL) and Gas Authority of India Ltd. (GAIL). This decision was communicated on 1st February 2013. The latest added to the list is Rural Electrification Corporation (REC) in 2022.

List of Maharatna Companies in India 2023

Here’s the complete List of Maharatna Companies in India 2023:

Maharatna Companies of India Details

1. Bharat Heavy Electricals Limited – Bharat Heavy Electricals Limited became India’s first Maharatna Company in 1964. The Indian government grants the Central Public Sector Enterprises the Maharatna, Miniratna, and Navaratna statuses. The Ministry of Heavy Industries and Public Enterprises oversees them.

2. Bharat Petroleum Corporation Limited (BPCL) is a well-known Maharatna company in India and one of the biggest oil firms in the world. The two biggest refineries in the nation, those in Kochi and Mumbai, are under its operational control.

3. Coal India Limited (CIL)-Owned by the Indian government, CIL produces the most coal in the world. It was established in November 1975 and is currently the seventh-largest employer in the nation.

4. Gas Authority of India Limited –India’s Gas Authority Limited -The largest natural gas firm in India, commonly referred to as GAIL, is in charge of processing and distributing natural gas throughout the country.

5. HPCL, or Hindustan Petroleum Corporation, makes a variety of petroleum-based fuels. It manages and runs the two significant refineries in Mumbai and Visakhapatnam.

6. Indian Oil Corporation Limited -The largest commercial oil company in the nation is Indian Oil Corporation Limited. 11 of India’s 23 refineries are run by IOCL, which is under the Ministry of Petroleum and Gas.

7. National Thermal Power Corporation-NTPC is the nation’s biggest electricity producer and distributor. The majority of India’s energy needs are met by it.

8. Oil and Natural Gas Corporation (ONGC)- ONGC is responsible for the production of more than 70% of India’s crude oil as well as key tasks including gas exploration and production.

9.90% of India’s electricity transmission systems were run by the Power Grid Corporation of India, which distributed the energy first by the state and then by area.

10. Steel Authority of India Limited (SAIL)- SAIL has three specialised steel mills and five integrated steel plants. The firm produces the most steel in India.

11. Power Finance Corporation was established in 1986 to assist India’s power sector with non-banking financial activities.

12. Rural Electrification Corporation (REC)- Incorporated in 1969, REC is an India-based Non-Banking Financial Company (NBFC) that specialises in financing and developing the country’s power sector. It falls within the Ministry of Power’s purview. It has been designated as a Nodal Agency for the following Government of India key programmes-Pradhan Person Sahaj Bijli Yojana Har Ghar (SAUBHAGAYA), Gram Jyoti Yojana Deen Dayal Upadhaya (DDUGJY), Fund for National Electricity (NEF).

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