Navratna Companies in India

Navratna firms are distinguished as the highest caliber of Public Sector Undertakings (PSUs) by their exceptional operational and financial achievements. These entities possess the power to carry out significant investments worth up to ₹1,000 crore without requiring authorization from the Central Government. In this article list of navratna companies will be discussed in depth.

What is Navratna Company?

A public sector enterprise in India that has been bestowed with Navratna status is known as a Navratna business. These businesses are important to the country's economy and are regarded as distinguished PSUs both nationally and internationally.
These businesses are granted autonomy in areas including capital expenditure, investment in joint ventures or subsidiaries, and human resource management after being named Navratna.
One of the statuses granted to Central Public Sector Enterprises (CPSEs) listed under the Government of India is Navratna Companies. The CPSEs are categorized into three groups by the Indian government according to whether or not they meet specific requirements.

List of Navratna Companies in India 2024

The following table list of navratna companies in India:

Overview of Navratna Companies in India

Government-owned corporations, including Maharatna companies, Mini Ratna companies, & other state-owned enterprises, play crucial role in India’s economy. These Indian public sector giants are government-controlled corporations & are among leading PSUs in India. They collectively form landscape of state-owned entities in India.

1) Engineers India Limited (EIL)

First company is Engineers India Limited (EIL), engineering consultancy that offers services in project management, design, procurement, engineering, & construction.
It specializes in supply chain management, project management, technology, & pre-front-end engineering design (FEED).

2) Container Corporation of India Limited (CONCOR)

CONCOR facilitates both local & international services by managing logistics infrastructure such as container freight stations & dry ports.
LCL hub services, air cargo transportation, bonded warehousing, refrigerated containers, container repair, & other services are among its offerings. 

3) Bharat Electronics Limited (BEL)

This company manufactures & distributes electronic systems & equipment for both defence & non-defence industries.
Defence portfolio of BEL includes avionics, radars, naval systems, electronic warfare systems, navigation systems, & communication devices.

4) Hindustan Aeronautics Limited (HAL)

HAL is company that specializes in development, design, manufacture, & supply of avionics, communication equipment, aircraft, & helicopters for military & commercial markets.
HAL also provides accessories for helicopters, airplanes, & aero engines in addition to repair, maintenance, & support services for aircraft.

5) Neyveli Lignite Corporation Limited (NLC India)

NLC India Limited produces power from coal, lignite, & renewable energy sources like solar & wind. It also manages open-pit lignite mines.
Rajasthan & Southern India's state DISCOMS are supplied with power by it.
NLC currently has 50.1 MTP mining capacity.

6) RashtriyIspat Nigam Limited (RINL)

Under Ministry of Steel, RINL runs Visakhapatnam Steel Plant.
It is first shore-based integrated steel factory in nation & is well-known for producing goods that meet consumer expectations.

7) Rashtriya Chemicals & Fertilizers Limited (RCF)

RCF is a well-known producer of chemicals and fertilizers in the Indian economy's public sector.
Neem urea, biofertilizers, complex fertilizers, micronutrients, and 100% water-soluble fertilizers are among the products it sells.
Its Suphala and Ujjwala brands have strong brand value and are well-known throughout the country.

8) Mahanagar Telephone Nigam Limited (MTNL)

Based in Mumbai and Delhi, it offers fixed-line phone services.
Prepaid and postpaid plans, 3G data plans, mobile TV, international calling, and value-added services are all included in its mobile offerings.
Subsidiaries of MTNL include Millennium Telecom Limited and Mahanagar Telephone Limited.

9) Buildings Construction Corporation Limited (NBCC)

Infrastructure for national security, civil sector infrastructure, and civil construction projects are all under the purview of NBCC.
It also emphasizes commercial and residential projects.

10) National Aluminium Company Limited (NALCO)

With its headquarters in India, NALCO is a business that mainly produces and markets aluminium and alumina.
Its Chemical and Aluminum sectors deal with items such as alumina hydrate, calcined alumina, wire rods, billets, and strips made of aluminum.

11) National Mineral Development Corporation Limited (NMDC)

This company produces iron ore and conducts mineral exploration for copper, diamond, rock phosphate, and limestone.
The output of NMDC's iron-producing facilities in Chhattisgarh and Karnataka surpasses 40 MTPA.

12) Rail Vikas Nigam Limited (RVNL)

RVNL is responsible for carrying out a range of railway projects, such as electrification, new lines, bridges, and workshops.
It oversees all aspects of the project cycle, including design, contract administration, funding, and commissioning, from planning to completion.

13) Shipping Corporation of India Limited (SCI)

This Indian shipping firm handles both passenger and cargo transportation.
The liner, bulk carrier, tanker, and technical & offshore areas are where the corporation operates.

14) ONGC Videsh Limited (OVL)

Its primary objective is to secure production and exploration permits abroad.
OVLs operates in the Middle East and Africa, Asia Pacific, Russia, and the Commonwealth of Independent States on a variety of producing projects, exploration blocks, and pipeline projects.

15) RITES Limited

This company offers several services relating to transportation infrastructure and associated technology.
RITES provides services to a number of industries, such as ropeways, tunnels & bridges, land ports, railroads, and metro areas.

16) IRCON International Limited

This company offers engineering, procurement, and construction (EPC) services for transportation infrastructure projects, including highways, metro systems, bridges, tunnels, and railroads.
In addition, IRCON works on hybrid annuity mode and build, operate, and transfer mode projects.

Benefits of Being a Navratna Company in India

Navratna companies profit from a number of factors, including the following:

• In India, navratna firms are exempt from requiring government clearance when investing up to ₹1,000 crore, or 15% of their net value, in a single project.
• These corporations are free to invest as much as thirty percent of their net worth in a single year, provided that the amount does not exceed ₹1,000 crores.
• These businesses can also create subsidiaries abroad, develop alliances, and participate in joint ventures.

Eligibility Criteria to Become a Navratna Company

According to the Government of India, the following requirements must be fulfilled in order for a company to be designated as a Navratna in India:

The business ought to already be registered under Schedule A of the CPSEs and possess Miniratna Category I status.
Under the Memorandum of Understanding System, it must have continuously gotten an excellent rating for at least three of the previous five years.
Net profit to net worth, PBDIT to capital employed, gross margin as capital expenditure, labor cost to cost of production or services, gross profit as turnover, and earnings per share are the other six critical categories in which the corporation must also meet certain requirements.

Conclusion

Navratna firms are the backbone of India's economic progress, operating in a variety of areas such as energy, engineering, and telecommunications. Their noteworthy contributions to India's economic growth stem from their large-scale investments, promotion of innovation, and provision of superior goods and services.