Maharatna Companies in India, List of Maharatna Companies

The Government of India classifies Central Public Sector Enterprises (CPSEs) into three categories: Maharatna, Navratna, and Miniratna. These categories are based on specific criteria, with Maharatna companies holding the highest level of prestige and autonomy among them. Maharatna companies are leading public sector enterprises that have demonstrated exceptional financial performance, have a strong global presence, and make significant contributions to India’s economy.

Eligibility Criteria of Maharatna Companies Status

To qualify for Maharatna status, a company must meet the following criteria:

Hold Navratna Status: The enterprise must already possess Navratna status, which signifies a high level of operational autonomy.

Download PDF: List of Maharatna-Companies

Stock Exchange Listing: The company must be listed on the Indian stock exchange and comply with the minimum public shareholding requirements as per SEBI regulations.

Financial Performance:

• The CPSE must maintain an average annual net profit after tax (PAT) of over Rs. 5,000 crore for the past three years.
• It should have an average annual turnover of at least Rs. 25,000 crore over the same period, or an average annual net worth of Rs. 15,000 crore during that time.

Global Presence: The company should have a strong global presence, demonstrated by international operations, indicating its ability to compete on a worldwide scale.

Polity Notes for UPSC

Benefits of Maharatna Companies’ Status

Benefits for Investment: Here are some of the benefits of Maharatna’s status mentioned below.

• Greater operational and financial autonomy: Maharatna companies have greater operational and financial autonomy than other CPSEs. This means that they have more freedom to make decisions about their business operations, such as setting prices, hiring and firing employees, and investing in new projects.
• Ability to undertake strategic investments, mergers, and acquisitions: Maharatna companies are allowed to undertake strategic investments, mergers, and acquisitions without government approval. This gives them the flexibility to expand their businesses and enter new markets.
• Ability to raise funds from the market without government approval: Maharatna companies are allowed to raise funds from the market without government approval. This gives them access to a wider pool of capital, which can be used to finance their growth plans.
• Increased access to government contracts and schemes: Maharatna companies have increased access to government contracts and schemes. This is because the government is keen to promote the growth of these companies.
• Enhanced brand value and reputation: Maharatna’s status enhances the brand value and reputation of these companies. This can help them to attract customers, partners, and investors.
• Increased opportunities for growth and development: Maharatna’s status gives these companies increased opportunities for growth and development. This is because they have greater freedom to make decisions, access to more resources, and a stronger brand.

Overall, Maharatna company’s status provides many benefits to CPSEs. These benefits can help these companies to grow and develop, and contribute to the growth of the Indian economy.

List of 13 Maharatna Companies

The following table provides a compilation of Maharatna Companies that are significant from the perspective of the UPSC examination.

National Thermal Power Corporation (NTPC)

NTPC, which obtained Maharatna status from the Indian government in May 2010, was established on November 7, 1975. It operates from 70 different locations within India, along with one location in Sri Lanka and two locations in Bangladesh. NTPC Limited has five regional headquarters across India. NTPC Limited provides the following services:

1. Generation and distribution of electricity
2. Exploration, production, transportation, and distribution of natural gas.

Oil and Natural Gas Corporation (ONGC)

Oil and Natural Gas Corporation (ONGC) is a prominent Indian public sector undertaking (PSU) specializing in the exploration, production, and development of crude oil and natural gas resources. Established in 1956, ONGC occupies a pivotal position in India’s energy sector, making significant contributions to the nation’s oil and gas production.

Operating both onshore and offshore, ONGC explores diverse oil and gas fields within India and internationally. Beyond exploration, ONGC is involved in refining, marketing petroleum products, petrochemical production, renewable energy projects, and research and development endeavors. With a focus on energy security, technological innovation, and sustainable practices, ONGC plays a critical role in India’s economic progress and energy self-reliance.

Steel Authority of India Limited (SAIL)

Steel Authority of India Limited (SAIL) is a government-owned steel manufacturing company headquartered in New Delhi, India. It is ranked as the 20th largest steel producer globally and the third largest in India. SAIL operates five integrated steel plants located in Bhilai, Rourkela, Durgapur, Bokaro, and Burnpur (Asansol), along with three special steel plants situated in Salem, Durgapur, and Bhadravathi. These facilities contribute to SAIL’s extensive production capacity and enable the company to meet diverse steel demands.

Bharat Heavy Electricals Limited (BHEL)

BHEL is engaged in the design, engineering, manufacturing, construction, testing, commissioning, and servicing of a wide range of products, systems, and services for the core sectors of the economy, viz.

1. Power and transmission industry
2. Transportation,
3. Renewable energy
4. Oil & Gas
5. Defence

BHEL supplies electric locomotives to the Indian Railways and defence equipment such as the Super Rapid Gun Mount (SRGM) naval guns manufactured in partnership with the Ordnance Factory Board and simulators to the Indian Armed Forces.

Indian Oil Corporation Limited (IOCL)

1. Indian Oil Corporation Limited (IOCL) is the largest commercial oil company in India.
2. Indian Oil has ventured into alternative energy and globalization of downstream operations. It has subsidiaries in Sri Lanka, Mauritius, the UAE, Singapore, Sweden, the USA, and The Netherlands.

Indian Oil Corporation Limited’s (IOCL) business interests overlap the entire hydrocarbon value chain, including

1. Refining,
2. Pipeline transportation
3. Marketing of petroleum products
4. Exploration and production of crude oil, natural gas, and petrochemicals

Hindustan Petroleum Corporation Limited (HPCL)

Hindustan Petroleum Corporation Limited (HPCL) is an Indian state-owned oil and gas company headquartered in Mumbai. It is one of the largest integrated oil companies in India, with interests in exploration and production, refining, marketing, and petrochemicals. HPCL has a network of over 16,000 petrol pumps and 600 LPG distributorships across India.

The company has a refining capacity of 180 million tonnes per annum (MTPA) and markets a variety of petroleum products, including petrol, diesel, LPG, and aviation fuel. HPCL is a profitable company and has been consistently paying dividends to its shareholders. It is also committed to corporate social responsibility and has implemented several initiatives to improve the lives of the people living in the areas around its operations. Here are some of the key facts about HPCL:

• Established in 1959
• Headquartered in Mumbai, Maharashtra
• One of the largest oil and gas companies in India
• Network of over 16,000 petrol pumps and 600 LPG distributorships across India
• Profitable company
• Committed to corporate social responsibility

Coal India Limited (CIL)

• In April 2011, CIL was conferred the Maharatna status by the Union Government of India.
•  Coal India Limited was established in 1975.
•  The Headquarters of Coal India Limited is located in Kolkata, West Bengal.
• CIL is the largest coal-producing company in the world.

Coal India Limited – Subsidiaries

• Western Coalfields Limited (WCL)
• Central Coalfields Limited (CCL)
• Mahanadi Coalfields Limited (MCL)
• South Eastern Coalfields Limited (SECL)
• Bharat Coking Coal Limited (BCCL)
• Eastern Coalfields Limited (ECL)
• Central Coalfields Limited (CCL)
• Northern Coalfields Limited (NCL)
• Central Mine Planning and Design Institute (CMPDI)

Gas Authority of India Limited (GAIL)

1. GAIL was conferred with the Maharatna status on 1 Feb 2013, by the Government of India.
2. GAIL is under the administrative control of the Ministry of Petroleum and Natural Gas
3. GAIL is the largest state-owned natural gas processing and distribution company in India.
4. GAIL was established in August 1984.

Bharat Petroleum Corporation Limited (BPCL)

1. Bharat Petroleum Corporation Limited (BPCL) received Maharatna status in 2017.
2. BPCL is India’s 2nd largest fuel retailer.

Power Grid Corporation of India (POWERGRID)

• POWERGRID is an Indian state-owned Maharatna company headquartered in Gurugram, India.
• Power Grid Corporation of India Limited (POWERGRID) was incorporated on 23 October 1989 under the Companies Act, 1956.

Power Grid Corporation of India Limited (POWERGRID) is involved in the following business

• Electric Power Distribution
• Electric Power Transmission
• Energy Trading

Power Finance Corporation

Established in 1986, Power Finance Corporation (PFC) is a non-banking financial corporation with a vision to become the primary institutional partner for the power and related infrastructure sectors in India and abroad, covering the entire value chain. PFC is widely regarded as the financial backbone of the Indian power sector.

Rural Electrification Corporation Limited (REC)

Rural Electrification Corporation Limited (REC) operates under the administrative jurisdiction of the Ministry of Power, Government of India. It is registered with the RBI as a Non-Banking Finance Company (NBFC), Public Financial Institution (PFI), and Infrastructure Financing Company (IFC). REC offers long-term loans and various financial solutions to State, Central, and Private Companies to facilitate the development of infrastructure assets in the nation. The organization was established in 1969.

Oil India Ltd

OIL, a state-owned enterprise of the Government of India, operates under the administrative purview of the Ministry of Petroleum and Natural Gas. It stands as the second-largest national oil and gas company in India. Established in 1959, OIL specializes in the exploration, development, and production of crude oil and natural gas, as well as the transportation of crude oil and the production of liquid petroleum Gas.

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