Maharatna Companies in India: In India, the list of Navratna and Maharatna companies for the year comprises Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs), or State Level Public Enterprises (SLPEs). The Ministry of Heavy Industries and Public Enterprises oversees CPSEs, while all Central Public Sector Enterprises fall under the jurisdiction of the Department of Public Enterprises (DPE). The DPE is responsible for creating CPSE policies, which primarily involve matters related to staff management, financial independence, and enhancing performance assessment and growth. As of now, there are a total of 26 Navratna Companies and 14 Maharatna Companies in India. Maharatna Companies in India are big and important companies owned by the government. These companies are considered special because they have a significant impact on the country’s economy. They are given this special status because of their size, performance, and influence in various industries.

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Eligibility Criteria of Maharatna Companies

In India, the formation of all government-owned enterprises is regulated by the Companies Act of 2013. The establishment of Indian Public Sector Undertakings (PSUs) falls under Section 8 of this Act. Companies are classified as Maharatna Companies based on predefined goals encompassing both financial and non-financial aspects. Here are the criteria that an entity must satisfy to be recognized as a Maharatna Company.

• Three Navratna Status: The company must already hold Navratna status for at least three years.
• Profitability Requirement: The company should have consistently earned a certain level of profits over the last three years.
• Global Operations: Maharatna Companies are expected to have a significant presence and operations in international markets.
• Large Investments: They should have made substantial investments in various projects and activities.
• Diversification: Maharatna Companies should also have a wide range of business operations.

Meeting these criteria is essential for a company to be recognized as a Maharatna Company in India.

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Maharatna Companies in India Benefits

Maharatna Companies in India receive certain special advantages due to their significant size and impact. Some of these benefits include:

• Financial Autonomy: They enjoy more financial independence, which helps them make decisions and investments efficiently.
• Enhanced Investment Capacity: Maharatna status enables these companies to undertake larger and more ambitious projects.
• Global Expansion: They can expand their operations internationally with greater ease, boosting India’s presence in the global market.
• Decision-Making Flexibility: These companies have more authority in making strategic decisions, which contributes to their growth and innovation.
• Borrowing Power: Maharatna status allows them to borrow funds from financial institutions without seeking government approval for each transaction.
• Prestige and Recognition: Being recognized as a Maharatna Company adds to their reputation and prestige in the industry and market.

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List of Maharatna Companies 

Maharatna Companies are a special category of public sector enterprises in India that have been granted certain enhanced privileges and autonomy due to their significant size, financial performance, and influence in various industries. These companies are considered leaders in their respective sectors and play a crucial role in the country’s economic growth and development. Here are the Maharatna Companies in India:

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Maharatna Companies of India Details

1.Bharat Heavy Electricals Limited (BHEL) – BHEL is India’s leading power equipment manufacturer and supplier. It produces turbines, boilers, and heavy electrical equipment for power plants including thermal, hydro, and nuclear.
Sector: Power Equipment
Headquarters: New Delhi
Business: Manufacturing and servicing electrical equipment for the energy sector.

2.Bharat Petroleum Corporation Limited (BPCL) – BPCL is a major oil refining and marketing company in India. It operates refineries and fuel stations across the country, providing petroleum products like LPG, petrol, and diesel.
Sector: Oil & Gas
Headquarters: Mumbai, Maharashtra
Business: Refining, marketing, and distribution of petroleum products.

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3.Coal India Limited (CIL) – CIL is the largest coal-producing company in the world and contributes significantly to India’s energy needs. It operates numerous coal mines across the country.
Sector: Coal Mining
Headquarters: Kolkata, West Bengal
Business: Largest coal producer, mining and allied activities.

4.GAIL India Limited (GAIL) – GAIL is the largest natural gas company in India. It is involved in the exploration, production, processing, and distribution of natural gas and LPG.
Sector: Natural Gas
Headquarters: Noida, Uttar Pradesh
Business: Gas exploration, transmission, and distribution.

5.Hindustan Petroleum Corporation Limited (HPCL) – HPCL is an oil refining and marketing company operating refineries and retail outlets. It supplies petroleum products throughout India.
Sector: Oil & Gas
Headquarters: Mumbai, Maharashtra
Business: Refining, marketing, and distribution of petroleum products.

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6.Indian Oil Corporation Limited (IOCL) – IOCL is India’s largest oil company, engaged in refining, pipeline transportation, and marketing of petroleum products.
Sector: Oil & Gas
Headquarters: New Delhi
Business: Largest oil refiner, transporter, and marketer in India.

7.National Thermal Power Corporation (NTPC) – NTPC is India’s largest power generating company, operating thermal power plants across the country. It also works on renewable energy projects.
Sector: Power Generation
Headquarters: New Delhi
Business: Electricity generation and allied services.

8.Oil and Natural Gas Corporation (ONGC) – ONGC is India’s largest oil and gas exploration company. It explores, develops, and produces oil and natural gas in India and abroad.
Sector: Oil & Gas Exploration
Headquarters: Dehradun, Uttarakhand
Business: Oil and gas exploration and production.

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9.Power Finance Corporation (PFC) – PFC is a leading power sector financial institution offering project financing and fund-based/non-fund-based financial services to power sector companies.
Sector: Financial Services
Headquarters: New Delhi
Business: Financing of power sector projects.

10.Power Grid Corporation of India Limited (POWERGRID) – POWERGRID operates the majority of India’s electric power transmission network, managing high voltage transmission across states.
Sector: Power Transmission
Headquarters: Gurugram, Haryana
Business: Electric power transmission and telecom services.

11.Steel Authority of India Limited (SAIL) – SAIL is one of India’s largest steel producers, manufacturing a wide range of steel products including rails, plates, and structural steel.
Sector: Steel Production
Headquarters: New Delhi
Business: Steel manufacturing and related activities.

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12.Rural Electrification Corporation Limited (REC) – REC provides financing for rural electrification projects and power distribution companies across India.
Sector: Financial Services
Headquarters: New Delhi
Business: Funding rural electrification and power projects.

13.Oil India Limited (OIL) – Oil India is a leading oil and gas exploration and production company working mainly in the northeastern region of India.
Sector: Oil & Gas Exploration
Headquarters: Duliajan, Assam
Business: Oil and gas exploration, production, and pipeline operations.

14.Hindustan Aeronautics Limited (HAL) – HAL is a premier aerospace and defense company involved in the design, fabrication, and maintenance of aircraft and helicopters for defence forces.
Sector: Aerospace & Defence
Headquarters: Bangalore, Karnataka
Business: Aerospace manufacturing and defence-related services.

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