Exploring Maharatna PSUs in India: Key Companies and Criteria

Public sector enterprises (PSUs) play a pivotal role in the Indian economy, contributing significantly to the country's economic growth. Among these, Maharatna PSUs are the most significant entities driven by the Government of India. These companies are granted special recognition and enjoy enhanced operational and financial autonomy, allowing them to operate and compete on a global scale.

Which are the Maharatna PSUs?

As of August 2023, the Maharatna PSUs in India include:

Coal India Limited (CIL) Indian Oil Corporation Limited (IOCL) Oil and Natural Gas Corporation Limited (ONGC) Gas Authority of India Limited (GAIL) Bharat Heavy Electricals Limited (BHEL) Steel Authority of India Limited (SAIL) National Thermal Power Corporation Limited (NTPC) Indian Railways Catering and Tourism Corporation (IRCTC)

These companies have been granted Maharatna status by the Government of India, which provides them with greater operational and financial autonomy. This recognition is a testament to their significant contributions to the country’s industrial and economic growth.

Types of Public Sector Enterprises

India's public sector enterprises are categorized into three main types:

Maharatna Navrata Miniratna

Each category is distinguished by specific criteria that ensure their effectiveness and performance. The key requirements for Maharatna PSUs are detailed as follows:

Main Criteria for Maharatna PSUs

Listing on the Indian stock exchange with minimum prescribed public shareholding under SEBI (Securities and Exchange Board of India) regulations. Average annual turnover exceeding Rs. 25,000 crore over the last three years. Average annual net worth exceeding Rs. 15,000 crore over the last three years. Average annual net profit after tax exceeding Rs. 5,000 crore over the last three years. Significant global presence or international operations.

Presently, the Maharatna Companies in India

The current Maharatna companies in India are:

National Thermal Power Corporation Limited (NTPC) Oil and Natural Gas Corporation Limited (ONGC) Steel Authority of India Limited (SAIL) Bharat Heavy Electricals Limited (BHEL) Indian Oil Corporation Limited (IOCL) Coal India Limited (CIL) Gas Authority of India Limited (GAIL) Indian Railways Catering and Tourism Corporation (IRCTC)

Comprehensive List of Maharatna Companies

As of June 2016, the Maharatna CPSEs (Central Public Sector Enterprises) were:

Bharat Heavy Electricals Limited Coal India Limited GAIL (India) Limited Indian Oil Corporation Limited National Thermal Power Corporation Limited Oil and Natural Gas Corporation Limited Steel Authority of India Limited

Conclusion

These Maharatna PSUs are at the forefront of India's industrial and economic growth, driving innovation and enhancing the country's global competitiveness. Their operations and performance serve as benchmarks for other PSUs and reflect the strategic direction of the Government of India towards enhancing the capabilities of its public sector enterprises.