The central government on Monday, Mar. 3, granted 'Navratna' status to Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC). This takes the total number of 'Navratna' central public sector enterprises (CPSEs) in India to 26.
IRCTC, with an annual turnover of Rs 4,270.18 crore and a net worth of Rs 3,229.97 crore for the financial year 2023-24 (FY24), became the 25th company to receive this recognition. Meanwhile, IRFC was the latest CPSE to achieve the status. The company, which serves as the funding arm of Indian Railways, had reported a net worth of Rs 49,178 crore for FY24.
The Government has approved the upgradation of Indian Railway Finance Corporation (IRFC) to Navratna CPSE, making it the 26th #Navratna among CPSEs! IRFC is a Ministry of Railways CPSE with an annual turnover of ₹26,644 Cr, PAT of ₹6,412 Cr and a net worth of ₹49,178 Cr for FY… pic.twitter.com/fNxXzqyyRi
March 3, 2025Based on their performance, public sector undertakings in India are classified into three tiers: 'Maharatna', 'Navratna' and 'Miniratna'.
How Are PSUs Classified As Maharatna Or Navratna?
At present, there are 14 Maharatnas, which are publicly listed companies with an average annual turnover of more than Rs 25,000 crore over the last three years. Factors that contribute to the 'Maharatna' status of the PSUs are a worth exceeding Rs 15,000 crore over the past three years and significant international operations, among others.
The central government grants the Navratna status based on these factors:
(i) net profit to net worth,
(ii) manpower cost to total cost of production/services,
(iii) profit before depreciation, interest and taxes to capital employed,
(iv) profit before interest and taxes to turnover,
(v) earning per share and
(vi) inter-sectoral performance.
Companies that achieve a composite score of 60 or more across these six criteria are eligible for 'Navratna' status, as the Ministry of Heavy Industries explained.
Before the Covid-19 pandemic, there were 14 'Navratna' PSUs in India. The number increased over the years and now stands at 26, with the two new additions. These PSUs engage in a range of operations in different sectors, including defence, aerospace, steel, mining, and construction, among others.
There are more than 60 'Miniratna' PSUs, divided into two further categories based on their performance.
Full List Of Navratna Companies In India 2025
Bharat Electronics Limited
Container Corporation of India Limited
Engineers India Limited
Mahanagar Telephone Nigam Limited
National Aluminium Company Limited
National Buildings Construction Corporation Limited
Neyveli Lignite Corporation Limited
NMDC Limited
Rashtriya Ispat Nigam Limited
Shipping Corporation of India Limited
Rail Vikas Nigam Limited
ONGC Videsh Ltd
Rashtriya Chemicals & Fertilizers Limited
IRCON
RITES
National Fertilizers Limited
Central Warehousing Corporation
Housing & Urban Development Corporation Limited
Indian Renewable Energy Development Agency Limited
Mazagon Dock Shipbuilders Limited
Railtel Corporation of India Limited
Solar Energy Corporation of India (SECI) Ltd
NHPC Limited
SJVN Limited
Indian Railway Catering and Tourism Corporation (IRCTC)
Indian Railway Finance Corporation (IFRC)
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