List of Miniratna Companies in India 2024

List of Miniratna Companies in India 2024

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Miniratna companies are major players who drive the country's economic growth by contributing to various sectors. Miniratna companies broadly fall under the category of public sector undertaking (PSU) where the majority of stake is owned by the government. PSUs can be categorized into two categories: central government-central public sector undertakings (CPSUs) and state government-state public sector undertakings (SPSUs). CPSUs are further categorized into maharatnas, navratnas, and miniratnas. Let us read more miniratna companies in detail. Keep reading!

What is Miniratna Company?

A Miniratna company operates efficiently and keeps strong financial stability, playing an important role in sectors like telecommunications, aviation, defense, and engineering.

Currently, 61 miniratna CPSEs in India play an important role in the country’s economic growth. These miniranta focus on offering services in sectors like aviation, telecommunications, defense, and engineering.

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Table of Contents

  1. What is Miniratna Company?
  2. List of Miniratna Companies in India

List of Miniratna Companies in India

Below is the list of Miniratna companies that fall under Miniratna I CPSEs and Miniratna II CPSEs categories in India:

Miniratna I CPSEs

Miniratna II CPSEs

  • Artificial Limbs Manufacturing Corporation of India
  • Bharat Pumps & Compressors LimitedBroadcast Engineering Consultants India Limited
  • Engineering Projects (India) Limited
  • FCI Aravali Gypsum & Minerals India Limited
  • Ferro Scrap Nigam Limited
  • HMT (International) Limited
  • Indian Medicines & Pharmaceuticals Corporation Limited
  • MECON Limited
  • National Film Development Corporation Limited
  • Rajasthan Electronics & Instruments Limited

Miniratna Companies – Eligibility Criteria  

Miniratna  Category I

Miniratna  Category II

  • Must have earned consistent profit for the last three years.
  • Must have earned at least ₹30 crore pre-tax profit in the last three or maintained an average annual turnover of atleast ₹120 crore over the same period.
  • There should be no default on repayment or interest payment owed to the government. 
  • Must be financially independent 
  • Must have earned consistent profit for the last three years.
  • Must have a positive net worth.
  • There should be no default on repayment or interest payment owed to the government. 
  • Must be financially independent.

 

Miniratna Companies – Benefits 

Miniratna  Category I

Miniratna  Category II

Miniratna  Category I can have the benefit of financial autonomy for investment up to ₹500 crore or an amount equal to the net worth of the company, whichever is lower.Miniratna  Category II can have benefit of financial autonomy for investment up to ₹300 crore or 50% to the net worth of the company, whichever is lower.

Along with the above-mentioned benefit, Miniranta companies also enjoy benefits such as:

  • Miniratna companies have operational autonomy to make quick decisions and respond to market dynamics effectively.
  • Miniratna companies can easily capitalize on growth opportunities with the freedom to make investment decisions up to set limits without any approval from the government.
  • For strategic partnerships and diversification, Miniratna companies have the freedom to form joint ventures, establish subsidiaries, and collaborate with other companies.
  • Miniratna companies can easily compete with private sector companies with autonomy and financial flexibility. 

Overview of Miniratna Companies 

Below is the overview of miniratna companies in detail:

Airports Authority of India (AAI)

Founded on April 1st, 1995, the Airports Authority of India is the statutory body responsible for upgrading, building, maintaining, and overseeing civil aviation infrastructure all over India. AAI manages a total of 137 airports which includes 24 international airports, 103 domestic airports, and 10 customs airports.

Bharat Dynamics Limited (BDL)

Established in 1970, Bharat Dynamics Limited manufactures and supplies guided missiles, defence equipment, and airborne products for the Indian Armed Forces.

Bharat Sanchar Nigam Limited (BSNL)

Founded in 2000, Bharat Sanchar Nigam Limited offers broadband, mobile, and landline services all over the country. The company is involved in planning, installing, integrating, and maintaining its telecommunication services.

Goa Shipyard (GSL)

Founded in 1957, Goa Shipyard Limited (GSL) focuses on providing various services specializing in the crafting design, construction, and repair of naval vessels, offshore platforms, and commercial ships.

India Tourism Development Corporation (ITDC)

Founded in 1966, India Tourism Development Corporation (ITDC) focuses on operating hotels, transport services, and developing tourism infrastructure in the country. To promote tourism, it aims at producing, distributing, and selling tourist literature and more.

Indian Railway Catering & Tourism Corporation Limited (IRCTC)

Founded in 1999, Indian Railway Catering & Tourism Corporation Limited (IRCTC) manages online railway ticking booking, catering, and tourism for Indian Railways. Alongside, it offers packaged drinking water, retiring rooms, executive lounges, and dormitories.

IRCON International

Founded in 1976, IRCON International is responsible for working with various infrastructure sectors, such as railways, metro systems, tunnels, bridges, flyovers, and more. It is responsible for handling electrical, mechanical, commercial, and residential building projects.

NHPC Limited

Founded in 1975, National Hydroelectric Power Corporation is responsible for actively planning, promoting, and managing the construction of hydroelectric power plants. NHPC produces electricity using wind, hydro, and solar energy sources.

Mazagon Dock Shipbuilders Limited (MDL)

Founded in 1934, Mazagon Dock Shipbuilders Limited has constructed 801 vessels including 27 warships ranging from advanced destroyers to missile boats and 7 submarines. It has delivered various other types of ships, such as cargo ships, passenger ships, and supply vessels.

Role of Miniratna Companies in the Indian Economy

Miniratna Companies are vital for driving growth across multiple sectors. Financial and operational freedom allows miniratna companies to make quicker decisions creating more effective impact as compared to other CPSEs. Moreover, with operational independence, miniratna companies are more competitive, drive innovation, and help serve the needs of the Indian economy.

You may also want to read
List of Navratna Companies
List of Maharatna Companies
Best Defence Stocks in India

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FAQs on miniratna companies

There are 61 miniratna companies in India which are further divided into miniratna I CPSEs and miniratna II CPSEs.

CPSE stands for central public sector undertakings which is owned by the central government.

Eligibility criteria for miniranta companies are as follows:

1.     Miniratna  Category I

To be categorized as miniratna category I, you must meet the below eligibility criteria:

  • Must have earned consistent profit for the last three years.
  • Must have earned at least ₹30 crore pre-tax profit in the last three or maintained an average annual turnover of atleast ₹120 crore over the same period.

2.     Miniratna  Category II

To be categorized as miniratna category II, you must meet the below eligibility criteria:

  • Must have earned consistent profit for the last three years.
  • Must have a positive net worth.

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