7th March 2025 (11 Topics)

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IRCTC & IRFC Get Navratna Status

Context

The government granted Navratna status to IRCTC and IRFC, making them the 25th and 26th Navratna CPSEs. Now, all seven listed Indian Railways CPSEs hold Navratna status.

What is Navratna Status?

Navratna status is conferred upon public sector undertakings that demonstrate outstanding financial and market performance. This recognition enhances their autonomy and financial authority.
It is a prestigious rank for government-owned companies, placed between Maharatna & Miniratna categories.
To qualify, a company must have:
- A composite score of 60+ on key financial indicators.
- An ‘Excellent’ or ‘Very Good’ rating in 3 of the last 5 years.
Benefits of Navratna Status
- More Financial Autonomy – Companies can invest Rs 1,000 Cr or 15% of net worth in projects without government approval.
- Flexibility in Business – They can form joint ventures, acquire companies, and expand globally.
- Better Market Position – They attract more investors due to improved credibility.

Fact Box:

Classification of CPSEs

The Centre classifies CPSEs into three categories based on their financial performance and operational capabilities:

Maharatna
Navratna
Miniratna

Maharatna CPSEs

A company that already holds Navratna status can be considered for Maharatna status if it meets certain financial criteria.
It must be listed on Indian stock exchanges and comply with shareholding norms.
Over the last three years, its average annual turnover should exceed Rs 25,000 crore, net worth should be above Rs 15,000 crore, and net profit should be more than Rs 5,000 crore.
Examples: Bharat Heavy Electricals Limited (BHEL), Bharat Petroleum Corporation Limited (BPCL), Coal India Limited, Gas Authority of India Limited (GAIL), Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation (IOC), NTPC, and Oil and Natural Gas Corporation (ONGC).

Miniratna CPSEs

Miniratna companies are further divided into Miniratna-I and Miniratna-II categories.
- Miniratna-I: A company can be granted Miniratna-I status if it has been profitable for the last three years and has a pre-tax profit of at least Rs 30 crore in one of these years.
- Miniratna-II: Miniratna-II companies are those that have made profits for the last three years but do not meet the higher financial requirements of Miniratna-I.
- These companies have limited financial autonomy but can make independent investment decisions up to a certain limit.

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IRCTC & IRFC Get Navratna Status

What is Navratna Status?

Fact Box:

Miniratna CPSEs