List of Navratna Companies in India

Navratna companies are among the top Public Sector Undertakings (PSUs) in India.

Navratna companies play a crucial role in leading industries and contributing significantly to the country's econompressive financial and operational achievements. These organizations can make significant investments of up to ₹1,000 crore without requiring approval from the Central Government. 
 

What is Navratna Company? 

A Navratna company in India is a public sector undertaking that has earned Navratna status. These companies play a major role in the country's economy and are highly respected compared to other PSUs, both within India and internationally.

Once they receive Navratna status, these companies gain authority in areas like spending on projects, investments in partnerships or new businesses, and managing their workforce.
 

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List of Navratna Companies in India 2024

Ever wondered how many Navratna companies are there in India? Let us delve into the journey of the 16 Navratna companies in India as of 2024: 

Disclaimer: The information provided on the above stocks is for informational purposes only. It is crucial to conduct thorough research before making any investment decisions regarding these stocks. We do not recommend trading any stocks without comprehensive research and professional financial advice. Always consult with a certified financial advisor to ensure informed and appropriate investment choices.

An Overview of Navratna Companies in India 

Let’s go through the 16 Navratna Companies in India:

Engineers India Limited (EIL)

• EIL is an engineering firm that offers services such as designing, buying materials, engineering, building, and managing projects.
• EIL focuses on technology, early-stage project planning (FEED), project management, and managing the supply chain.
• EIL serves different industries such as oil and gas, infrastructure (roads and bridges), water and waste management, fertilizers and chemicals for making plastic, mining and metals, and solar and nuclear power.

Container Corporation of India Limited (CONCOR) 

• CONCOR operates logistics hubs such as dry ports and container freight stations. These facilities help with both international and domestic shipping services. 
• CONCOR offers various services including consolidating smaller shipments (LCL hub services), transporting goods by air, storing goods in bonded warehouses, using refrigerated containers, and repairing containers. 
• CONCOR is a leader in providing support for India's trade, using multiple types of transport like containers to make shipping easier domestically and internationally. 

Bharat Electronics Limited (BEL)

• BEL manufactures and supplies electronic equipment and systems for both defence and non-defence purposes. 
• In defence, BEL makes navigation systems, communication devices, radars, naval systems, electronic warfare systems, and avionics, among others. 
• For the non-defence sector, BEL offers services such as cybersecurity, e-governance, civilian radars, homeland security solutions, electric vehicle technology (e-mobility), railway systems, and telecommunications solutions.

Hindustan Aeronautics Limited (HAL) 

• HAL focuses on creating, designing, making, and providing aircraft, helicopters, avionics, and communication gear for military and civilian uses. 
• HAL also offers services to repair, maintain, and support aircraft, including accessories for helicopters, aircraft, and aero engines.
• The company’s customers include the Army, Navy, Indian Air Force, Indian Coast Guard, Defence Research & Development Organization, and others.

Neyveli Lignite Corporation Limited (NLC India)

• NLC India Limited mines lignite in open-cast mines and produces electricity using lignite, coal, wind, and solar energy sources. 
• It provides electricity to state DISCOMS (Distribution Companies) in Southern India and Rajasthan. 
• Currently, NLC has the capacity to mine 50.1 million tonnes per year.

Rashtriya Ispat Nigam Limited (RINL) 

• RINL runs the Visakhapatnam Steel Plant, which is under the Ministry of Steel. It's India's first integrated steel plant located on the shore.  
• The plant is well-known for producing high-quality steel products that meet customer expectations. 

Rashtriya Chemicals & Fertilisers Limited (RCF)

• RCF is a leading fertilizer and chemical manufacturer owned by the Indian government.  
• They produce various products such as neem urea, bio fertilizers, complex fertilizers, micronutrients, and fully soluble fertilizers. 
• Their brands Suphala and Ujjwala are well-known nationwide for their strong reputation.

Mahanagar Telephone Nigam Limited (MTNL)

• MTNL offers landline phone services in Delhi and Mumbai. 
• MTNL mobile services include prepaid and postpaid plans, 3G data plans, mobile television, international calling, and extra services. 
• MTNL has subsidiaries like Mahanagar Telephone Limited and Millennium Telecom Limited.

Buildings Construction Corporation Limited (NBCC)

• NBCC works on civil construction projects and infrastructure projects important for national security and public services. 
• They also specialize in residential and commercial projects.  
• NBCC offers services like planning projects, studying their feasibility, preparing detailed reports, and managing procurement, construction, and engineering.  

National Aluminium Company Limited (NALCO) 

• NALCO is an Indian company that makes and sells alumina and aluminium.  
• It has two main parts: Chemical and Aluminium. They produce things like calcined alumina, alumina hydrate, aluminium ingots, wire rods, billets, and strips.  
• NALCO runs a big alumina refinery plant in Damanjodi, Odisha, making 22.75 lakh tons per year. They also have an aluminium smelter in Angul, Odisha, and produce 4.60 lakh tons per year.

National Mineral Development Corporation Limited (NMDC) 

• NMDC is a company that mines iron ore and explores different minerals like copper, rock phosphate, limestone, and diamonds.  
• It produces over 40 million tonnes per year of iron ore from its mining operations in Chhattisgarh and Karnataka.  
• NMDC also owns subsidiaries such as Legacy Iron Ore Limited, NMDC Power Limited, and more. 

Rail Vikas Nigam Limited (RVNL)

• RVNL works on different railway projects like building new lines, setting up electrification, constructing bridges, and creating workshops.  
• They handle everything from planning to completing the projects, which includes designing, managing contracts, and arranging finances.  
• RVNL also undertakes complete projects and serves clients from government ministries at both central and state levels.

     Shipping Corporation of India Limited (SCI)

• SCI is engaged in transporting goods and passengers.  
• It operates in various segments like liner, bulk carrier, tanker, and technical & offshore services.  
• They offer services such as transporting tankers, bulk carriers, containers, offshore services, handling break bulk cargo, chartering ships, and more. 

ONGC Videsh Limited (OVL)

• OVL focuses on acquiring exploration and production licenses in international markets.  
• The company is engaged in multiple operational projects including producing assets, exploration blocks, and pipeline ventures across regions such as the Middle East and Africa, Asia Pacific, and Russia as well as CIS countries.  
• Notable projects in its portfolio include Vankor, ACG, and the Lower Zakum Concession. 

RITES Limited

• RITES offers a variety of services in transportation infrastructure and related technologies.  
• The company works in sectors like railways, metros, airports, land ports, ropeways, tunnels, and bridges. Their services include project management advice, feasibility studies, third-party inspections, overseeing construction, and other related services. 

IRCON International Limited

• IRCON provides services to build infrastructure projects such as railways, bridges, tunnels, highways, and metro systems.  
• IRCON also handles projects where they build, operate, and transfer facilities, as well as projects under hybrid annuity arrangements.  
• IRCON has finished about 398 projects within India and 128 projects in 25 different countries worldwide. 
   

Benefits of Being a Navratna Company in India

Navratna companies can avail certain advantages such as:

• They can invest up to ₹1,000 crore or 15% of their net worth in one project without government approval.
• They are allowed to invest up to 30% of their net worth in a year, as long as it does not exceed ₹1,000 crore.
• These companies have the freedom to form joint ventures, and alliances, and establish subsidiaries overseas, enhancing their operational scope and market reach.
• The Navratna status boosts the company's credibility and competitiveness in the market, potentially attracting more investors and partnerships.
• With reduced bureaucratic hurdles, Navratna companies can expedite decision-making processes, enabling quicker responses to market dynamics and opportunities. 
• The autonomy and flexibility provided often lead to improved operational efficiency, profitability, and overall performance of the company.
   

Eligibility Criteria to Become a Navratna Company

To qualify as a Navratna Company in India, a public sector enterprise (PSE) must meet specific eligibility criteria set by the Government of India. 

• The company must be listed on the Indian stock exchange.
• The PSE must have consistently earned profits in the last three years.
• The company should have a positive net worth.
• The enterprise must have earned a certain level of operational autonomy, typically measured by parameters such as Memorandum of Understanding (MoU) targets achieved, net profit, net worth, and turnover for at least 3 out of the last 4 years. 
• The company should have been in operation for at least three years since its initial public offering (IPO) or since its last restructuring.
• The PSE should have a satisfactory performance track record under the Department of Public Enterprises (DPE) guidelines.
• The PSE should have a significant impact on its respective industry and exhibit exemplary performance in terms of production, efficiency, and overall management.
• To qualify for Navratna status, the company should have attained Miniratna Category I status and be listed in Schedule A of CPSEs (Central Public Sector Enterprises).
• To become a Navratna company, the company needs to score 60 or more in the areas listed below.

Navratna status grants eligible PSEs greater operational and financial autonomy to compete in the global market and make quick decisions without government intervention for investments up to a certain limit. It is an important recognition for a public sector enterprise in India, signifying its superior performance and management cap.

The Final Word
Navratna companies in India are pivotal across multiple sectors such as energy, engineering, and telecommunications, acting as foundational pillars for the nation's industrial advancement. Such companies make substantial contributions to India's economic growth through significant investments, fostering innovation, and delivering superior products and services.