Public Sector Undertaking (PSU)

Public Sector Undertaking (PSU)

A state-owned enterprise in India is called a Public Sector Undertaking (PSU) (PSU) or a public sector enterprise. These companies are owned by the union government of India, or one of the many state or territorial governments, or both. The company stock needs to be majority-owned by the government to be a PSU.

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PSUs may be classified as Central Public Sector Enterprises (CPSEs), public sector banks (PSBs) or State Level Public Enterprises (SLPEs).


Various PSUs have been awarded additional financial autonomy. These companies are “public sector companies that have comparative advantages”, giving them greater autonomy to compete in the global market so as to “support [them] in their drive to become global giants”. Financial autonomy was initially awarded to nine PSUs as Navratna status in 1997. Originally, the term Navaratna meant a talisman composed of nine precious gems. Later, this term was adopted in the courts of Gupta emperor Vikramaditya and Mughal emperor Akbar, as the collective name for nine extraordinary courtiers at their respective courts.

In 2010, the government established the higher Maharatna category, which raises a company’s investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore. The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project while the Navaratna companies could invest up to Rs 1,000 crore without explicit government approval. Two categories of “Miniratnas” afford less extensive financial autonomy.

list of public limited companies in India / Public Sector Undertaking (PSU)

As on 5 May 2016, there are 7 Maharatnas, 17 Navratnas and 72 Miniratnas.

List of Maharatna

  1. Coal India Ltd.
  2. Indian Oil Corporation Limited (IOCL).
  3. NTPC Ltd.
  4. Steel Authority of India Ltd.
  5. Gas Authority of India Limited (GAIL).
  6. Oil and Natural Gas Corporation.
  7. Bharat Heavy Electricals.

List of Navratna

  1. Engineers India Ltd.
  2. Bharat Electronics Ltd.
  3. Bharat Petroleum Corporation Limited (BPCL)
  4. Hindustan Aeronautics
  5. Hindustan Petroleum Corporation Limited (HPCL)
  6. Mahanagar Telephone Nigam Ltd.
  7. National Aluminium Company Ltd.
  8. National Mineral Development Corporation
  9. Neyveli Lignite Corporation
  10. Oil India
  11. Power Finance Corporation
  12. Container Corporation of India
  13. National Buildings Construction Corporation
  14. Power Grid Corporation of India Limited (PGCIL)
  15. Rashtriya Ispat Nigam Ltd.  VIZAG STEEL
  16. Rural Electrification Corporation
  17. Shipping Corporation of India

List of Miniratna-I

  1. Airports Authority of India
  2. Antrix Corporation
  3. Balmer Lawrie & Co. Ltd.
  4. Bharat Coking Coal Ltd.
  5. Bharat Dynamics Ltd.
  6. BEML Ltd.
  7. Bharat Sanchar Nigam Ltd.
  8. Bridge & Roof Company (India) Ltd.
  9. Central Warehousing Corporation
  10. Central Coalfields Ltd.
  11. Chennai Petroleum Corporation
  12. Cochin Shipyard Ltd.
  13. Dredging Corporation of India
  14. Kamarajar Port Ltd.
  15. Garden Reach Shipbuilders & Engineers Ltd.
  16. Goa Shipyard Ltd.
  17. Hindustan Copper Ltd.
  18. HLL Lifecare Ltd.
  19. Hindustan Newsprint Ltd.
  20. Hindustan Paper Corporation
  21. Housing & Urban Development Corporation
  22. India Tourism Development Corporation
  23. India Trade Promotion Organisation
  24. Indian Rare Earths Ltd.
  25. Indian Railway Catering and Tourism Corporation
  26. Indian Renewable Energy Development Agency Limited (IREDA)
  27. IRCON International Ltd.
  28. KIOCL Ltd.
  29. Mazagaon Dock Ltd.
  30. Mahanadi Coalfields Ltd.
  31. Manganese Ore (India) Ltd.
  32. Mangalore Refinery & Petrochemical Ltd.
  33. Mishra Dhatu Nigam Ltd.
  34. MMTC Ltd.
  35. MSTC Ltd.
  36. National Fertilizers Ltd.
  37. National Seeds Corporation
  38. National Hydroelectric Power Corporation (NHPC)
  39. Northern Coalfields Ltd.
  40. North Eastern Electric Power Corporation
  41. Numaligarh Refinery Ltd.
  42. ONGC Videsh Ltd.
  43. Pawan Hans Helicopters Ltd.
  44. Projects & Development India Ltd.
  45. Railtel Corporation of India
  46. Rail Vikas Nigam Ltd.
  47. Rashtriya Chemicals & Fertilizers Ltd.
  48. RITES Ltd.
  49. SJVN Ltd.
  50. Security Printing and Minting Corporation of India
  51. South Eastern Coalfields Ltd.
  52. State Trading Corporation of India
  53. Telecommunications Consultants India Ltd.
  54. THDC India Ltd.
  55. Western Coalfields Ltd.
  56. WAPCOS Ltd.

List of Miniratna-II

  1. Bharat Pumps & Compressors
  2. Broadcast Engineering Consultants India
  3. Central Mine Planning and Design Institute
  4. Central Railside Warehouse Company Ltd.
  5. Educational Consultants India
  6. Engineering Projects (India) Ltd.
  7. FCI Aravali Gypsum and Minerals (India) Limited
  8. Ferro Scrap Nigam Ltd.
  9. HMT (International) Ltd.
  10. HSCC (India) Ltd.
  11. Indian Medicines & Pharmaceuticals Corporation Limited
  12. MECON
  13. Mineral Exploration Corporation Ltd.
  14. National Film Development Corporation of India
  15. National Small Industries Corporation
  16. PEC Ltd.
  17. Rajasthan Electronics & Instruments Ltd.

Guidelines for awarding ratna status are as follow:

Maharatna Navratna Miniratna Category-I Miniratna Category-II
Eligibility Three years with an average annual net profit of over Rs. 2500 crore (earlier was 5,000 Cr), OR Average annual Net worth of Rs. 10,000 crore for 3 years (earlier was 15,000 Cr), OR Average annual Turnover of Rs. 20,000 crore for 3 years (earlier was 25,000 Cr) A score of 60 (out of 100), based on six parameters which include net profit, net worth, total manpower cost, total cost of production, cost of services, PBDIT (Profit Before Depreciation, Interest and Taxes), capital employed, etc., ANDA company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna. Have made profits continuously for the last three years or earned a net profit of Rs. 30 crores or more in one of the three years Have made profits continuously for the last three years and should have a positive net worth.