Introduction:

Miniratna companies refer to a distinct category of government-owned enterprises in India. These companies are typically granted more operational freedom and financial independence as compared to other Public Sector Undertakings (PSUs). They play a crucial role in driving economic growth and contribute significantly across diverse sectors, including telecommunications, aviation, defence, and engineering.

This blog delves into what makes Miniratna companies unique, highlights some of the top Miniratna companies in India, and explores their impact on the nation's economy. Keep reading.

What are Miniratna Companies?

A Miniratna company is a public sector undertaking (PSU) recognised for its consistent financial performance and operational efficiency. The Indian government awards these companies greater autonomy and decision-making authority, allowing them to operate with higher flexibility and compete more effectively within their respective sectors.

Although Miniratna companies are owned and controlled by the Indian Government, they are granted greater autonomy in their daily operations. It enables them to make strategic decisions regarding investments, joint ventures, and other business initiatives without requiring frequent government approvals.

Types of Miniratna Companies in India

Miniratna companies in India are further categorised into two types based on their financial autonomy and performance: Miniratna Category I and Miniratna Category II.

• Miniratna Category I

To qualify as a Miniratna Category I, a company must have made a profit for the last three years continuously and should have a positive net worth. These companies are granted more operational freedom than other PSUs, allowing them to invest up to Rs. 500 crores or an amount equal to their net worth, whichever is lower, without seeking government approval.

• Miniratna Category II

Miniratna Category II companies must also have a record of profit for the last three years but are allowed to invest up to Rs. 300 crores or up to 50% of their net worth, whichever is lower, without government approval. The flexibility given to these companies enables them to operate more efficiently and respond to market dynamics swiftly.

Top Miniratna Companies in India

Do you know how many Miniratna companies are in India? As of May 2024, there are 68 Miniratna companies in India, with 57 companies under Miniratna category I and 11 companies under Miniratna category II. Below is the list of Miniratna companies in India:

Companies under Miniratna Category I

Listed below are the companies under Miniratna Category I:

• Airports Authority of India (AAI)

• Antrix Corporation Limited

• Balmer Lawrie and Company Limited

• Bharat Coking Coal Limited

• Bharat Dynamics Limited (BDL)

• Bharat Earth Movers Limited (BEML)

• Bharat Sanchar Nigam Limited (BSNL)

• Braithwaite & Company Limited

• Bridge & Roof Company (India) Limited

• Central Warehousing Corporation

• Central Coalfields Limited (CCL)

• Central Mine Planning & Design Institute Limited

• Chennai Petroleum Corporation Limited

• Cochin Shipyard Limited

• Cotton Corporation of India Limited

• EdCIL (India) Limited

• Garden Reach Shipbuilders and Engineers Limited (GRSE)

• Goa Shipyard Limited (GSL)

• Hindustan Copper Limited

• Hindustan Steelworks Construction Limited

• HLL Lifecare Limited

• Hindustan Paper Corporation Limited

• Housing & Urban Development Corporation Limited

• HSCC (India) Limited

• India Tourism Development Corporation Limited

• India Rare Earths Limited

• Indian Railway Catering & Tourism Corporation Limited (IRCTC)

• Indian Railway Finance Corporation Limited

• Indian Renewable Energy Development Agency Limited (IREDA)

• India Trade Promotion Organization

• KIOCL Limited

• Mazagon Dock Shipbuilders Limited (MDS)

• Mahanadi Coalfields Limited

• MOIL Limited

• Mangalore Refinery & Petrochemical Limited

• Mineral Exploration Corporation Limited

• Mishru Dhatu Nigam Limited

• MMTC Limited

• MSTC Limited

• National Fertilisers Limited

• National Projects Construction Corporation Limited

• National Small Industries Corporation Limited

• National Seeds Corporation

• NHPC Limited

• Northern Coalfields Limited (NCL)

• North Eastern Electric Power Corporation Limited

• Numaligarh Refinery Limited

• Pawan Hans Helicopters Limited

• Projects & Development India Limited

• Railtel Corporation of India Limited

• SJVN Limited

• Security Printing and Minting Corporation of India Limited

• South Eastern Coalfields Limited

• Telecommunications Consultants India Limited

• THDC India Limited

• Western Coalfields Limited

• WAPCOS Limited

Companies under Miniratna Category II

Listed below are the companies under Miniratna Category II:

• Artificial Limbs Manufacturing of India

• Bharat Pumps and Compressors Limited

• Broadcast Engineering Consultants of India Limited

• Engineering Projects India Limited

• FCI Aravali Gypsum and Minerals India Limited

• Ferro Scrap Nigam Limited

• HMT (International) Limited

• Indian Medicines and Pharmaceuticals Corporation Limited

• MECON Limited

• National Film Development Corporation Limited

• Rajasthan Electronics and Instruments Limited

To conclude

Miniratna companies in India exemplify the success of the PSUs that have leveraged operational autonomy to achieve significant growth and efficiency. As an investor, you must keep an eye on these companies to identify profit-making opportunities.

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