| Date (Latest → Oldest) | CPSE | New Status | Category | Ministry / Sector | Key Significance |
|---|---|---|---|---|---|
| 03 Feb 2026 | Yantra India Limited (YIL) | Miniratna | Category-I | Defence (MoD) | Ammunition manufacturer; part of Ordnance Factory reforms; boosts indigenisation |
| 02 Dec 2025 | Numaligarh Refinery Ltd (NRL) | Navratna | — | Petroleum & Natural Gas | Became 27th Navratna CPSE; higher autonomy for refinery expansion |
| 14 Oct 2025 | Hindustan Shipyard Ltd (HSL) | Miniratna | — | Shipping / Defence | Strengthens maritime, green shipbuilding & defence capability |
| 30 May 2025 | Munitions India Ltd (MIL) | Miniratna | Category-I | Defence (MoD) | Ammunition & explosives; post-Ordnance Factory restructuring |
| 30 May 2025 | Armoured Vehicles Nigam Ltd (AVNL) | Miniratna | Category-I | Defence (MoD) | Armoured & combat vehicles; enhances self-reliance |
| 30 May 2025 | India Optel Ltd (IOL) | Miniratna | Category-I | Defence (MoD) | Defence optics & opto-electronics |
| 03 Mar 2025 | Indian Railway Finance Corporation (IRFC) | Navratna | — | Railways | 26th Navratna CPSE; strengthens railway financing |
| 03 Mar 2025 | Indian Railway Catering & Tourism Corp (IRCTC) | Navratna | — | Railways | 25th Navratna CPSE; higher autonomy in services |
| Feature | Maharatna | Navratna | Miniratna (Cat I) | Miniratna (Cat II) |
|---|---|---|---|---|
| Introduced In | 2010 | 1997 | 1997 | 1997 |
| Prerequisite Status | Must be Navratna | Must be Miniratna Cat I | Regular CPSE | Regular CPSE |
| Profit Requirement | ≥ ₹2,500 crore (avg of 3 yrs) | Scored parameter | Profit for 3 consecutive yrs | Profit for 3 consecutive yrs |
| Net Worth Requirement | ≥ ₹10,000 crore (avg of 3 yrs) | Scored parameter | Positive | Positive |
| Turnover Requirement | ≥ ₹20,000 crore (avg of 3 yrs) | Scored parameter | Not specified | Not specified |
| Scoring System | Not applicable | ≥ 60/100 | Not applicable | Not applicable |
| Independent Directors | As per Navratna norms | Minimum 4 | Not mandatory | Not mandatory |
| Global Presence | Strong international footprint | Sectoral importance | Not mandatory | Not mandatory |
| Investment Limit (Single Project) | Up to ₹5,000 crore or 15% of net worth | Up to ₹1,000 crore or 15% of net worth | Up to ₹500 crore or net worth | Up to ₹300 crore |
| Govt Approval Needed | Not required (within limits) | Not required (within limits) | Not required (within limits) | Not required (within limits) |
| Mergers & Acquisitions | Full freedom | Limited freedom | Restricted | Restricted |
| Joint Ventures | Full freedom (India & abroad) | Permitted | Limited | Limited |
| Operational Autonomy | Very high | High | Moderate | Limited |
| Decision-Making Speed | Fastest | Fast | Moderate | Relatively slow |
| Strategic Role | Global expansion & mega projects | Sector leaders | Growth-oriented CPSEs | Entry-level autonomy |
| Category | Number of CPSEs (2025) | Broad Significance |
|---|---|---|
| Maharatna | 14 | India’s largest CPSEs with global scale and strategic importance |
| Navratna | 27 | Sector-leading CPSEs with high financial and operational autonomy |
| Miniratna | 74 (Cat I + II) | Profit-making CPSEs with varying degrees of autonomy |
| Sector | Company |
|---|---|
| Oil & Gas | ONGC |
| Power | NTPC |
| Oil Refining & Marketing | Indian Oil Corporation (IOCL) |
| Coal | Coal India |
| Power Transmission | Power Grid Corporation of India |
| Heavy Engineering | BHEL |
| Oil & Gas | GAIL |
| Petroleum | BPCL |
| Petroleum | HPCL |
| Power Finance | Power Finance Corporation (PFC) |
| Power Finance | Rural Electrification Corporation (REC) |
| Steel | SAIL |
| Oil & Gas | Oil India |
| Defence & Aerospace | Hindustan Aeronautics Limited (Maharatna since Oct 2024) |
| Area | CPSEs |
|---|---|
| Defence & Electronics | Bharat Electronics Limited |
| Infrastructure & Construction | NBCC (India), Ircon International, RITES |
| Metals & Minerals | NALCO, NMDC, RINL |
| Energy | NLC India, NHPC, SJVN |
| Railways | RVNL, RailTel, IRCTC, IRFC |
| Oil & Gas (Overseas) | ONGC Videsh |
| Fertilizers | RCF, NFL |
| Telecom | MTNL |
| Shipping & Logistics | SCI, CONCOR |
| Urban Development & Housing | HUDCO |
| Warehousing | Central Warehousing Corporation |
| Renewable Energy | IREDA, SECI |
| Defence Shipbuilding | Mazagon Dock Shipbuilders |
(Total: 26 Navratna CPSEs)
| Sector | Company |
|---|---|
| Aviation | Airports Authority of India |
| Defence | Bharat Dynamics Limited |
| Earth-moving Equipment | BEML |
| Telecom | BSNL |
| Petroleum | Chennai Petroleum Corporation |
| Shipbuilding | Cochin Shipyard |
| Coal | BCCL, CCL |
| Engineering & Design | CMPDI |
| Metals | MIDHANI |
| Space & Satellites | Antrix Corporation |
| Manufacturing & Services | Balmer Lawrie |
| Defence Shipbuilding | GRSE, Goa Shipyard |
| Sector | Company |
|---|---|
| Engineering Consultancy | MECON |
| Pharmaceuticals | Indian Medicines Pharmaceutical Corporation |
| Media & Films | National Film Development Corporation |
| Electronics | Rajasthan Electronics & Instruments Ltd |
| Engineering Projects | Engineering Projects (India) Ltd |
| Scrap & Recycling | Ferro Scrap Nigam |
| Medical Devices | Artificial Limbs Manufacturing Corporation |