SJVN, NHPC, RailTel And Solar Energy Corp. Crowned 'Navratnas'
Navratna companies represent top public sector undertakings in India, distinguished by their financial and operational prowess.
The Department of Public Enterprises announced on Friday that four central public sector enterprises were elevated to 'Navratna' status, marking a significant milestone in their operational capabilities.
The newly-upgraded Navratna companies are Satluj Jal Vidyut Nigam Ltd., National Hydroelectric Power Corp., Solar Energy Corp., and RailTel Corp.
Navratna companies represent top public sector undertakings in India, distinguished by their financial and operational prowess.
These companies enjoy greater financial and operational freedom. They can make investments of up to 30% of their net worth in one year, provided that it does not exceed Rs 1,000 crore. They can also enter into joint ventures, form alliances, and float subsidiaries abroad.
SJVN, a Ministry of Power CPSE, becomes the 25th Navratna. The company had achieved an annual turnover of Rs 2,833 crore and a net profit of Rs 908 crore in the financial year 2023-24.
NHPC, which too comes under the Ministry of Power, is now ranked 24th among Navratna CPSEs. The company had reported an annual turnover of Rs 8,405 crore and a net profit of Rs 3,744 crore for FY24.
SECI, which is part of the Ministry of New and Renewable Energy, is the 23rd CPSE to achieve the Navratna status. In fiscal 2023-24, it had recorded an annual turnover of Rs 13,035 crore and a net profit of Rs 436 crore.
RailTel, under the Ministry of Railways, became the 22nd Navratna CPSE. The company had posted an annual turnover of Rs 2,622 crore and a net profit of Rs 246 crore for fiscal 2023-24.
Recently, in July 2024, Mazagon Dock Shipbuilders Ltd., was added to the group of 20 Navratna companies, which includes Bharat Electronics Ltd., Container Corp., and others, according to the Department of Public Enterprises.
