What are Navratna companies?
Navratna companies are those companies that receive a prestigious status in the public sector. Companies had to take approval from the central government to invest money in their projects whereas, Navratna companies have a right to invest INR 1000 crores without taking permission from the central government. before, Navratna there is another term comes called Miniratna and companies have to be first Miniratna and have a total of 4 directors in their company only after then that company can be a Navratna.
List of 14 Navratna companies in India
Bharat electronics limited
Bharat electronics limited is an Indian state-owned aerospace and defense company. They have several offices and about nine factories in India. It was founded in Bengaluru, Karnataka, India in 1954. Companies revenue is about ₹12,920 crores as of 2020. The products which are manufactured by Bharat electronics limited (BEL) are C4I systems, radars, weapons systems, avionics, and electronic voting machines.
Container Corporation of india
Container corporation of India is another navratna public sector company which comes under the railways ministry of India. Legally organized in March 1988 under the companies act, the container corporation of India starts work in November 1989 and took over the network of seven inland container depots from Indian railways. Companies’ main business is to transport goods from one place to another by rail.
Oil Limited of India
Oil limited of India is the third Navratna company of India is involved in the administrative control of production of natural gas crude oil of India,s ministry. Oil limited of India (oil) is the second largest production Indian sector company. It had its headquarters in duliajan, Assam, India.
Hindustan aeronautics limited
Hindustan aeronutics limited (hal) is the indian state owned company works in the field of defense and aerospace. Its headquaters is in Bangalore, india, it is managed Under the defence ministry of india.
Primarily, company was involved in the aerospace operations currently, they are involved in these activities like jet engines, helicopter spare parts, assembling an aircrafts, design of an aircraft and helicopters.
Engineers india limited
Engineers india limited is another Navratna company undertaking under the government of India that comes under the Ministry of Natural and petroleum gas. I was started in 1965 for engineering and technical-related services and other projects.
Engineers India Limited has been working for a long time in these fields such as pipelines, petrochemicals, Petroleum refining, chemicals and fertilizers, Offshore oil and gas, Infrastructure, Mining and metallurgyy, and Terminals, and storages.
Company also works in sectors like solar & nuclear power, fertilisers, water and waste management, and infrastructure. Currently, engineers india limited is the complete solution of an engineering consultancy company which is providing construction, integrated project and management services, design, and procurement with a very high level of safety measures. Apart from all of this engineers india limited also received many prestigious awards including the HR leadership award taken by Sh. Ashok Kalra and also got the CMD award received by Ms. Vartika Shukla they also got many more awards also in the field of reskilling of employees and communication outreach. Presently, engineers India limited provides specialist services such as specialist materials, maintenance and plant operations, safety services, and environmental engineering.
Mahanagar telephone nigam Limited
Mahanagar telephone nigam Limited (MTNL) is telecommunication services provider owned by State. Its headquarters is in Delhi, India. Company wholly owned subsidiary of BSNL. Mahanagar telephone nigam Limited was established in 1986. The company provides its services in Mumbai, Delhi, and Mauritius, Africa.
National mineral development corporation limited
National mineral development corporation limited is the unlisted public company legal organized on 15 November, 1958. National mineral development corporation limited is the public Limited company located in Hyderabad, Telangana. Companies share capital is INR 119.32 cr. currently company is active.
National aluminum company
National aluminum company (NALCO) is located Bhubaneswar, Orissa. It is publi listed company legally organized on 07 January, 1981. National aluminum company is classified as a government of India company. national aluminum company limited comes under the biggest government body of india. The company works in different sectors like power, mining, and metal sectors. national aluminum company limited is the first public sector company to present itself in India to venture then into international market with appreciating success.
National building construction corporation limited
National construction corporation limited or NBCC mainly gives these services named real estate development, project management consultancy and lastly EPC contracting. Apart from this, they also do projects of renovation of bridges, schools offices, institutions, colleges, roads, hospitals, government properties, and airports.
Neyveli lignite corporation limited
Neyveli lignite corporation limited is also a ‘Navratna’ company comes under the government of India and is responsible for thermal power generation and the fossil fuel mining sector in India. Lignite produces by this company annually in about 30 million tonnes. there are mines in Neyveli, Tamil nadu which comes in the southern part of India and also from Barsingar, bikaner district of rajasthan. The company is incorporated in 1956 and wholly owned by the government of India.
Rural electrification corporation limited
Rural electrification corporation limited is a public infrastructure finance company in the india’s power sector. Rural electrification corporation limited also provides loans to state electricity boards, NGOs, private power developers, and rural electricity cooperatives. rural electrification corporation limited also has equity in the Indian energy exchange, an online electricity trading platform, India’s first nationwide many reputed investors are also invested in these like Adani IDFC, reliance energy, tata power, and Lanco.
Shipping Corporation of India limited
Shipping Corporation of India limited is the public sector company of the government of India. SCI was established on october 2, 1961 and its headquarters are in mumbai that manages services both international and national lines. Shipping corporation of India limited was created by the combination of western shipping corporation and eastern shipping corporation. Apart from this two more companies named mogul lines limited and Jayanti shipping company were merged to Shipping corporation of india limited in 1973 and 1986. In 2008 SCI was awarded the most prestigious status “navratna” from the government of India.
Rashtriya ispat nigam limited
Rashtriya ispat nigam limited is another company got the status “navaratna” by the govenment of India. RINL is also known as Vizag steel. Company is entily of Visakhapatnam steel plant. Rashtriya ispat nigam limited is the main producer of steel products in India. The company has a very big market in construction, vehicle, electrical, business forging, and infrastructure. RINL’s annual turnover of 12,780 crores. The company is ramping up its manufacturing capabilities of producing steel. They are producing 7.3 metric tonnes per annum.
Power Finance corporation limited
Power finance corporation limited is a listed public company incorporated in 1986. It comes under the government of india located in new delhi, Delhi. Power finance corporation limited provides services to the power sector and financial related advisory services. In june 2002 the company got the status of “navratna” from the government of India.
CONCLUSION
Companies that have the status of “Navratna” can enhance companies financial autonomy to invest upto 1000 crores in the company without any permission of the central government. It aids in capital acquisition and effective channelling of that capital, which Helps in the establishment of competitive public sector firms.
