Ministry of Finance has upgraded ONGC Videsh Ltd to ‘Navratna’ status. Following the approval of the Ministry, ONGC Videsh has now become a ‘Navratna’ Central Public Sector Enterprise (CPSE) from Category-I ‘Miniratna’. ONGC Videsh has become the 14th Navratna company in the list of CPSEs. It is a CPSE of Petroleum and Natural Gas Sector. During the financial year 2023, its annual turnover was 11,676 crores and net profit was 1700 crores.
To become a Navratna, the company must first have Miniratna status. Along with this, it is also necessary to have four independent directors on their board. Its lava company is required to score 60 out of 100 marks in several parameters like Net Worth, Net Profit, Total Production Cost, Manpower Cost, Service Cost, PBDIT.
List of ‘Navratna’ companies
The list of ‘Navratna’ companies include Bharat Electronics Limited, Container Corporation of India, Engineers India Limited, Hindustan Aeronautics Limited, MTNL, National Aluminum Company Limited, NBCC, NMDC, Rail Vikas Nigam Limited, Rashtriya Ispat Nigam Limited, Shipping Corporation of India. companies are included.
13 Maharatna companies
According to the information available on the website of the Department of Public Enterprises, there are currently 13 Maharatna companies in the country. ‘Oil India’ was given the status of Maharatna. Similarly, with the grant of Navratna status to ONGC Videsh, there are 14 Navratna companies (Navratna CPSEs) in the country. A total of 62 companies are included in the Miniratna I CPSE category. A total of 11 names have been included in the Miniratna II CPSE list.