List of Navratna Companies in India 2024, Eligibility, Benefits

Navratna companies in India are Central Public Sector Enterprises (CPSEs) that have been granted enhanced autonomy and financial freedom by the Government of India to help them compete more effectively in the global market. These companies are given operational and financial powers, enabling them to make quick decisions on investments, joint ventures, and mergers, up to a certain limit, without the need for government approval. 

Navratna Companies Eligibility Criteria

The eligibility criteria for Navratna Status is :

1. Miniratna Category I status is required.
2. A composite score of 60 or more out of 100 in key parameters such as net profit, net worth, total manpower cost, cost of services, and earnings per share.
3. Must be profitable for the last three consecutive years. 

Navratna Companies in India Benefits

Navratna status offers several benefits to public sector enterprises in India, enhancing their operational and financial capabilities. Here are the key benefits:

1. Enhanced Financial Autonomy: Navratna companies can invest up to ₹1,000 crore without needing government approval, allowing for quicker and more strategic investments.
2. Operational Flexibility: These companies have the freedom to form joint ventures, alliances, and undertake mergers and acquisitions both domestically and internationally.
3. Decision-Making Power: The Board of Directors of Navratna companies has greater authority in making decisions related to human resources, capital expenditure, and other operational aspects.
4. Competitive Edge: With greater autonomy, Navratna companies can respond more swiftly to market changes and competition, enhancing their overall efficiency and effectiveness.
5. Global Expansion: The status encourages these companies to expand their operations globally, helping them to emerge as significant players on the international stage.
6. Performance Incentives: Achieving and maintaining Navratna status is a recognition of a company’s strong performance, which can boost its reputation and attract better talent and partnerships.

List of 14 Navratna Companies in India 

Here is a list of 14 Central Public Sector Enterprises in India: 

14 Navratna Companies Details 

Here is a detailed explanation of 14 Navratna Companies in India: 

• Bharat Electronics Limited (BEL)
  Founded in 1954 in Bengaluru, BEL is a state-owned aerospace and defense company with nine factories and several regional offices across India. It reported a revenue of ₹12,921.11 crore (US$1.8 billion) in 2020. BEL's product range includes avionics, radars, weapon systems, C4I systems, and electronic voting machines.
• Container Corporation of India (CONCOR)
  CONCOR, a Navratna PSU under the Ministry of Railways, was incorporated in 1988 and began operations in 1989 by taking over seven Inland Container Depots (ICDs) from Indian Railways. This strategic move marked India's entry into intermodal freight transport, making rail a cost-effective option for long-distance cargo.
• Engineers India Limited (EIL)
  EIL, a Navratna PSU established in 1965, provides engineering services for the petroleum, petrochemical, pipeline, and infrastructure sectors. Under the Ministry of Petroleum and Natural Gas, EIL is a leader in turnkey contracting and industrial projects across various sectors, including mining, metallurgy, and offshore oil & gas.
• Hindustan Aeronautics Limited (HAL)
  Founded in 1940 and headquartered in Bengaluru, HAL is a key player in India's aerospace and defense industries, managed by the Ministry of Defence. HAL specializes in the design, fabrication, and assembly of aircraft, helicopters, jet engines, and their components.
• Mahanagar Telephone Nigam Limited (MTNL)
  Established in 1986, MTNL is a state-owned telecom provider operating in Mumbai, New Delhi, and Mauritius. Now a subsidiary of BSNL, MTNL provides crucial telecom services in these metro areas.
• National Aluminium Company (NALCO)
  Headquartered in Bhubaneswar, NALCO is India's largest integrated Bauxite-Alumina-Aluminium-Power complex, recognized globally as the lowest-cost producer of metallurgical grade alumina and bauxite. NALCO operates across bauxite mining, alumina refining, aluminium smelting, power generation, and logistics.
• NBCC (India) Limited
  NBCC, established in 1960, is a leading construction and project management company under the Ministry of Housing and Urban Affairs. With 31 regional offices, it is responsible for implementing key national initiatives like AMRUT, PMGSY, and solid waste management projects.
• National Mineral Development Corporation (NMDC)
  NMDC, India’s largest iron ore producer, explores minerals like iron ore, copper, limestone, and diamonds. It operates mechanized mines in Chhattisgarh and Karnataka and manages India's only mechanized diamond mine in Panna, Madhya Pradesh.
• Neyveli Lignite Corporation (NLC) India Limited
  Incorporated in 1956, NLC is a government-owned mining and energy company that produces 30 million tonnes of lignite annually from its opencast mines in Tamil Nadu and Rajasthan. This lignite powers its thermal power stations with a capacity of 3,640 MW.
• Oil India Limited (OIL)
  OIL, a Navratna PSU, is the second-largest oil and gas exploration company in India. Established in 1959 and headquartered in Assam, it engages in the exploration, development, and production of crude oil, natural gas, and LPG.
• Power Finance Corporation (PFC)
  PFC, incorporated in 1986, is the financial backbone of India's power sector, providing consulting, financial products, investment banking, and loan management services. Its IPO in 2007 was one of the most oversubscribed in India's history.
• Rashtriya Ispat Nigam (Vizag Steel)
  Vizag Steel, under Rashtriya Ispat Nigam Ltd (RINL), is India’s first shore-based integrated steel plant. It produces high-grade steel using state-of-the-art technology and operates subsidiaries like Eastern Investments Limited and The Orissa Minerals Development Company.
• REC Limited
  REC, formerly known as Rural Electrification Corporation, is a public infrastructure finance company in India’s power sector. It provides loans to central and state sector utilities, private developers, and rural electric cooperatives.
• Shipping Corporation of India (SCI)
  Founded in 1961, SCI is India’s premier shipping company and a recipient of Navratna status in 2008. It operates a diversified fleet, providing shipping solutions to various sectors. In 2019, the Government of India approved its privatization.

Navratna Companies in India FAQs

Q1. How many Navratna companies are there in India?
Ans. There are currently 13 Navratna companies in India.

Q2. Which is the 17th Navratna company?
Ans. NLC India Limited became the 17th Navratna company.

Q3. Which is the 18th Navratna company in India?
Ans. NHPC Limited is the 18th Navratna company in India.