List Of 13 Maharatna Companies In India (2024 Updated)

Last Updated: 27 November 2023

Before we get into the list of Maharatna Companies, You first need to understand why some Indian Companies are called Public Sector Undertakings (PSUs).

In India, a Government-owned Enterprise is called a Public Sector Undertaking (PSU) or a Public Sector Enterprise. These companies are wholly or partly owned by the Government of India or one of the many State or Territorial Governments or both together in parts.

Officers working for these companies are gazetted officers and Employees subordinate to the officers are full-fledged government employees.

The Government of India gives the special status of “Maharatna Company” to some of the Central Public Sector Enterprises (CPSEs) who fulfill the criteria through exemplary performance.

Such a company’s stock is majority-owned by the Government of India in the name of the President of India. In 1951, there were just 5 enterprises in the public sector in India, but in March 2019 this had increased to 348.

Criteria For Maharatna Status

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• The company should have “Navratna” status.
• The company should be listed on the Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
• The company should have an average Annual Turnover of more than ₹25,000 crores during the last 3 years.
• The company should have an average Annual Net Worth of more than ₹15,000 crores during the last 3 years.
• The company should have an average Annual Net Profit after tax of more than ₹5,000 crores during the last 3 years.
• The company should have a significant Global Presence or International Operations.

List Of Maharatna Companies

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No.	Company	Acronym	Founded
1	Bharat Heavy Electricals Limited	BHEL	1964
2	Bharat Petroleum Corporation Limited	BPCL	1952
3	Coal India Limited	CIL	1975
4	Gas Authority of India Limited	GAIL	1984
5	Hindustan Petroleum Corporation Limited	HPCL	1974
6	Indian Oil Corporation Limited	IOCL	1959
7	National Thermal Power Corporation Limited	NTPC	1975
8	Oil and Natural Gas Corporation Limited	ONGC	1956
9	Oil India Limited	OIL	1959
10	Power Grid Corporation of India Limited	PGCIL	1989
11	Power Finance Corporation Limited	PFCL	1986
12	Rural Electrification Corporation Limited	REC	1969
13	Steel Authority of India Limited	SAIL	1954

10 Interesting Facts About PSUs

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1. As of November 2023, there are 13 Maharatnas, 13 Navratnas, and 76 Miniratna Companies.
2. There are a total of 348 CPSEs (Central Public Sector Enterprises).
3. Originally, the term “Navaratna” meant a talisman composed of nine precious gems.
4. Financial autonomy was initially awarded to nine PSUs as Navratna status in 1997.
5. In 2010, the Government established the higher “Maharatna Category”, which raises a company’s investment ceiling from ₹1,000 crores to ₹5,000 crores.
6. The Maharatna firms can decide on investments of up to 15% of their net worth in a project while the Navaratna companies could invest up to ₹1,000 crores without explicit government approval.
7. PSUs in India are categorized based on their special non-financial objectives and are registered under Section 8 of the Companies Act, 2013.
8. The performance of Maharatna CPSEs would be reviewed annually by the Inter-Ministerial Committee, and thereafter by the Apex Committee headed by the Cabinet Secretary which will recommend the continuation or divestment of Maharatna’s status.
9. PSUs are classified as Central Public Sector Undertakings (CPSUs) which are wholly or partly owned by the Government of India or State Level Public Sector Undertakings (SLPSUs) which are wholly or partly owned by State or Territorial Governments.
10. The Largest holding of the Government of India in a Maharatna Company is Coal India Limited (66.13%).

Details Of Maharatna Companies

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