In this article, we will talk about maharatna companies in India.
Maharatna corporations are among the top businesses in India that have a tight relationship with the central government.
Maharatna corporations are many categories of government-owned companies, such as State Level Public Enterprises, Public Sector Enterprises, and Public Sector Banks.
These businesses benefit from more financial and operational independence, which helps them grow and compete internationally.
They donโt require the governmentโs approval to invest up to 15% of their value in a project.
What is a Maharatna Company?
Maharatna firms are large Indian corporations that have been given a great deal of autonomy and power by the Indian government.
The word โMaharatna,โ which translates to โa great jewel,โ emphasizes the enormous significance these businesses have for the country and the world at large.
These businesses are among the nationโs most significant and financially stable public sector enterprises (PSUs).
There are now 13 Maharatna companies in India by 2024.
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Properties of Maharatna Companies in India
Financial Independence: These businesses are more financially independent, which allows quick and effective investment decisions.
Decision-Making Power: These businesses promote development and innovation by exercising more autonomy in strategic decision-making.
Increased Investment Capability: These businesses are now able to take on bigger, more ambitious initiatives thanks to their Maharatna status.
Borrowing Accessibility: Because of their position, they can borrow money from banks and donโt always need permission from the government.
Worldwide Reach: These businesses are well-known abroad and conduct business there, which benefits Indiaโs economy and increases its competitiveness globally.
List of Maharatna Companies in India 2024
| Company Name | Established Year | 5 Years Return (%) |
| Bharat Heavy Electricals Limited (BHEL) | 1964 | 357% |
| Bharat Petroleum Corporation Limited (BPCL) | 1952 | 68% |
| GAIL India Limited (GAIL) | 1984 | 73% |
| Coal India Limited (CIL) | 1975 | 83% |
| Hindustan Petroleum Corporation Limited (HPCL) | 1974 | 77% |
| Steel Authority of India Limited (SAIL) | 1954 | 192% |
| National Thermal Power Corporation (NTPC) | 1975 | 163% |
| Rural Electrification Corporation Limited (REC) | 1969 | 381% |
| Power Finance Corporation (PFC) | 1986 | 377% |
| Power Grid Corporation of India Limited (POWERGRID)ย | 1989 | 186% |
| Indian Oil Corporation Limited (IOCL) | 1959 | 59% |
| Oil & Natural Gas Corporation Limited (ONGC) | 1956 | 66% |
| Oil India Limited (OIL) | 1959 | 247% |
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Requirements for Becoming a Maharatna Company in India
- It has to be in the Navratna status.
- Byย SEBI laws, its equities have to be registered on the Indian Stock Exchange (ISE)ย having the minimum necessary public ownership.
- Over the previous three years, the company should have had an average yearly turnover of more than โน25,000 crore.
- It needs to have had an average net worth of โน15,000 crores during the preceding three years.
- It has to have earned revenue after taxes of at least โน5,000 crores during the last three years.
- The company has to be globally active and conduct business abroad.
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Conclusion
Maharatna companies in India represent the pinnacle of the nationโs public sector enterprises, enjoying substantial autonomy and influence granted by the government.
These esteemed corporations, totaling 13 as of 2024, boast impressive financial stability and global recognition, contributing significantly to Indiaโs economic growth and competitiveness on the world stage.
With increased financial independence, decision-making power, and investment capabilities, Maharatna companies exemplify innovation and development in strategic sectors like energy, infrastructure, and manufacturing.
Their success underscores their vital role in driving Indiaโs progress and prosperity, symbolizing the nationโs prowess as a global economic powerhouse.
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F.A.Q.
How Many Maharatna Companies in India?
There are now 13 Maharatna companies in India by April 2024.
Which is the 11th Maharatna company in India?
In 2021, Power Finance Corporation (PFC) became the 11 Maharatna Company in India.
What is the 12th Maharatna company in India?
In 2022, Rural Electrification Corporation (REC) became the 12 Maharatna Company in India.
Which is the 13th Maharatna company in India?
Oil India Limited (OIL) became the 13 Maharatna Company in India.
Which is the biggest Maharatna company?
In April 2024, Oil & Natural Gas Corporation Limited (ONGC) isthe biggest Maharatna Company in India by its Market Capitalization.
