Three Defence PSUs get Miniratna status

New Delhi, 29 May 2025: Defence Minister Shri Rajnath Singh has approved the grant of “Miniratna” status Category-I for Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL) & India Optel Limited (IOL).

The initiatives were applauded by the government, taken by the management of MIL, AVNL, and IOL to increase the turnover of the company, maximize indigenisation, and meet other performance parameters for the grant of Miniratna (Category-I) status.

Financial Breakdown of New Miniratna PSUs:

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Munitions India Limited has achieved significant milestones after inception, including stellar growth of over 200% in sales from Rs. 3314 Cr in 2021-22 to Rs. 8214 Cr (provisional) in FY 2024-25. On the Export front, MIL has achieved a growth from Rs. 22.55 Cr in FY 2021-22 to Rs. 3081 Cr in FY 2024-25.

The major products of MIL include small, medium and high calibre ammunition, mortars, rockets, hand grenades, etc., with in-house manufacturing of initiatory compositions, propellants and high explosives.

Armoured Vehicles Nigam Limited has witnessed a significant growth of about 190% increase in sales from Rs. 2569.26 Cr in 2021-22 to Rs. 4946 Cr (provisional) in FY 2024-25. AVNL has also achieved 100% indigenization of Engines for all three platforms, viz. T-72, T-90, and BMP-II.

The major products of AVNL include Armoured/ Combat Vehicles (T-90, MBT Arjun, Infantry Combat Vehicles ‘BMP-II Sarath, etc.), support vehicles (MPV, AERV, etc.), and Defence mobility solutions (Stallion, LPTA, etc)

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India Optel Limited, over the past three years, has pushed its sales from Rs. 562.12 Cr in 2021-22 to Rs. 1541.38 Cr (provisional) in FY 2024-25, a growth of over 250%. The main products of IOL include Opto-Electronic systems and vision equipment, which are used in land system platforms & weapons like battle tanks T-90, T-72, Infantry Combat Vehicle BMP-II, Artillery Guns, Naval Guns etc.

The bestowal of Miniratna status to MIL, AVNL & IOL will further empower these companies to achieve an accelerated growth trajectory and new heights in defence production and exports.

To enhance functional autonomy and efficiency and unleash new growth potential and innovation, the erstwhile Ordnance Factory Board (OFB) was converted into seven Defence Public Sector Undertakings, including these three DPSUs w.e.f. 01.10.2021.

While MIL and AVNL are Schedule ‘A’ new Defence Public Sector Undertakings (DPSUs), IOL is a Schedule ‘B’ DPSU under the administrative control of the Department of Defence Production (DDP).

 

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