Two Major PSUs get 'Navratna Status'
The Navratna status is granted to Central Public Sector Enterprises (CPSEs) that meet rigorous financial and operational criteria.
The Department of Public Enterprises announced on Monday that the Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) have been granted Navratna status by the Union government, increasing the total number of Navratna Central Public Sector Enterprises (CPSEs) to 26.
"The Government has approved the upgradation of Indian Railway Catering and Tourism Corporation (IRCTC) to Navratna CPSE, making it the 25th #Navratna among CPSEs!” the department said in a post on X.
In a separate post, the Department of Public Enterprises made a similar announcement for IRFC.
"The Government has approved the upgradation of Indian Railway Finance Corporation (IRFC) to Navratna CPSE, making it the 26th #Navratna among CPSEs!” it said.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
With the recent announcements, IRCTC and IRFC have joined the ranks of established Navratna companies, which include Bharat Electronics Limited, Engineers India Limited, NMDC Limited, and ONGC Videsh Ltd, among others.
The Navratna status is granted to Central Public Sector Enterprises (CPSEs) that meet rigorous financial and operational criteria. To qualify, a company must have Miniratna-I status, be classified as a Schedule 'A' enterprise, and have received 'excellent' or 'very good' Memorandum of Understanding (MOU) ratings in three of the last five years.
Additionally, a composite score of at least 60 in key performance indicators—such as net profit to net worth, manpower costs relative to total production costs, and earnings per share—is also required.
Read Also : SJVN has signed a power purchase agreement with Datta Power Infra