The eligibility criteria laid down by the Government for grant of Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) are following: The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. Over the years, some of the ‘Navratna’ companies have grown very big and have considerably larger operations than their peers. Eligibility Criteria and Procedure for grant of Navratna Companies. Criteria for giving Navratna Status: The company must have ‘ Miniratna Category – I ‘ status along with a Schedule ‘A’ listing. Having Navratna status. To effect organizational restructuring including establishment of profit centre, opening of offices in India/abroad, creating new activity centres etc. profit before depreciation, interest and taxes to capital employed. To raise debt from the domestic capital markets and international markets, the latter being subject to the approval of RBI/Department of Economic Affairs, as may be required. The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely. It should have at least 3 ‘Excellent’ or ‘Very Good’ Memorandum of Understanding (MoU) during the last five years. To structure and implement schemes related to personnel and human resource management and training. To undertake mergers and acquisitions, subject to the conditions that (i) it should be as per the growth plan and in the core area of functioning of the CPSE, (ii) conditions/limits would be as in the case of establishing joint ventures/subsidiaries, and (iii) the Cabinet Committee on Economic Affairs would be kept informed in case of investments abroad. The Board of Directors shall have the powers for M&As, subject to the conditions that (a) it should be as per the growth plan and in the core area of functioning of the CPSE and (b) the Cabinet Committee on Economic Affairs (CCEA) would be kept informed in case of investments abroad. Gross margin calculated as per capital employed 6. 3. CMD is empowered to approve international business tours of functional Directors up to 5 days duration (other than study tours, seminars, etc.) All appointments upto this level would also be in the powers of the Boards and would include the power to effect internal transfers and redesignation of posts. 2. Criteria for Maharatna status Under government rules, Central Public Sector Enterprises (CPSEs) must fulfill following criteria for grant of Maharatna status. Criteria for Grant of Navratna Status to CPSEs: The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. The ‘Maharatna’ Scheme will empower big sized CPSEs to expand their operations and emerge as global giants. 5,000 crore (Rs. Not specified by Department of Public Enterprises. The Boards of these CPSEs should be restructured by inducting at least three non-official Directors as the first step before the exercise of enhanced delegation of authority. The Boards of ‘Navratna’ CPSEs  have been delegated powers in the areas of (i)  capital expenditure,  (ii)     investment in joint ventures/subsidiaries,  (iv) human resources management, etc. A score of 60 (out of 100) is required, based on parameters which are given below. The annual profit is also recorded superior and therefore, the industrial presence is recorded to be on a completely global scale. 2. 15,000 crore, during the last 3 years. The Board of Directors of these CPSEs have the powers for mergers and acquisitions, subject to the conditions that (i) it should be as per the growth plan and in the core area of functioning of the CPSE, (ii) conditions/limits would be as in the case of establishing joint ventures/subsidiaries, and (iii) Cabinet Committee on Economic Affairs would be kept informed in case of investments abroad. In all other cases including those of Chief Executive, tours abroad would continue to require the prior approval of the minister of the Administrative Ministry/Department. Profit in last 3 yrs. Criteria for grant of Navratna status to PSUs To get Navratna status, the company (PSU) must full-fill the following criteria: The company should have Miniratna-I, Schedule ‘A’ status. 3. This shows that the company is dependable. Eligibility Criteria: A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna. A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna. The CPSEs shall fulfill the following eligibility criteria to be considered for grant of Navratna status: • Must have ‘Miniratna Category – I’ status along with a Schedule ‘A’ listing. It should have obtained a rating of ‘very good’ or ‘excellent’ rating in 3 of the last 5 years under the Memorandum of Understanding (MoU) system. How many and What are they: Presently there are seven ‘Maharatna’ CPSEs, viz. ‘Maharatna’. (vi) Should have significant global presence/international operations. The above delegation of powers is subject to similar conditions as are applicable to Navratna CPSEs. 15 % of the net worth of the CPSE in one project, c. 30 % of the net worth of the CPSE in all joint ventures/subsidiaries put together. The higher category will act as an incentive for other ‘Navratna’ companies, provide brand value and facilitate delegation of enhanced powers to CPSEs. They also enjoy the freedom to enter joint ventures, form alliances and float subsidiaries abroad. While normally the investment would be done directly by the parent CPSE, in cases where it proposes to invest through a subsidiary into another JV, and also provide the additional capital for this purpose, the above stipulations would be in the context of the parent company. The CPSEs which are at the higher end of the ‘Navratna’ category and have higher end of the ‘Navratna’ category and have potential to become Indian Multinational Companies (MNCs), should be recognized as a separate classs, i.e. Eligibility Criteria. The administrative Ministry concerned shall decide whether a Public Sector Enterprise fulfilled the requirements of a Category-I/Category-II company before the exercise of enhanced powers. 2. 20,000 crore during the last three years An average annual net worth of more than Rs. Have made profits continuously for the last three years or earned a net profit of ₹30 crore or more in one of the three years Criteria for grant of Navratna status to CPSEs • The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. Navratna Companies – Eligibility Criteria & Benefits of the Navratna Status. 1000 cr. Category-II CPSEs should have made profit for the last three years continuously and should have a positive net worth. The Board of Directors of these CPSEs have the powers to structure and implement schemes relating to personnel and human resource management, training, voluntary or compulsory retirement schemes, etc. 5,000 crore, during the last 3 years. Having Navratna status. Criteria for grant of Miniratna status:- The CPSEs which have made profits in the last three years continuously and have positive net worth are eligible to be considered for grant of Miniratna status. Approval for the same should be obtained through the administrative Ministry. Functional Directors, who may have the same pay scale that of Board level Directors, but who would not be members of the Board. 25,000 crore, during the last 3 years. The Navratna status empowers PSEs to invest up to Rs. Source: Department of Public Enterprises (as on March, 2018), https://pib.gov.in/newsite/mbErel.aspx?relid=107091, Articles to read in Newspapers 20th December 2019. They have not defaulted in the repayment of loans/interest payment on any loans due to the Government. Presently, there are 7 Maharatna, 16 Navratna and 71 Miniratna CPSEs. Eligibility Criteria: Three years with an average annual net profit of over Rs. CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. Average annual net … Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. manpower cost to total cost of production/services. 15,000 crore, during the last 3 years. For Maharatna status: Having Navratna status, Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations, Average annual turnover of more than Rs. (i) Having Navratna status. profit before interest and taxes to turnover. First of there needs to be a score of 60 out of 100 for the below parameters. These companies called ‘Miniratnas’, are in two Category-II. The criteria and growth under Maharatna: Companies that come under this category are listed under the guidelines of the stock exchange of India. The Boards of these CPSEs should be restructured by inducting at least three non-official Directors as the first step before the exercise of enhanced delegation of authority. Criteria for grant of Navratna status :- The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in … The overall ceiling on such equity investments and mergers  and acquisitions in all projects put together will not exceed 30% of the net worth of the concerned CPSE. 20,000 crore for 3 years, or Average annual Net worth of Rs. 2500 crore or Average annual Turnover of Rs. Maharatna. 15,000 crore, during the last 3 years. (iii) profit before depreciation, interest and taxes to capital employed. Technology Joint Ventures and Strategic Alliances. (ii)  Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. The ratio of net profit and net worth 4. (v)   Average annual net profit after tax of more than Rs. Review Of The Performance Of Navratna And Miniratna Enterprises—Grant/ Divestment Of Status Thereof. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. Cost of manpower to cost of services or production Currently, there are 16 PSUs in India which are termed as Navratnas. 25,000 crore, during the last 3 years. The Complete list of Maharatna, Navratna and Miniratna CPSEs (Central Public Sector Enterprises) and their status criteria are as of date October 13, 2017 are as follows. In October 1997, the Government had also decided to grant enhanced autonomy and delegation of financial powers to some other profit making companies subject to certain eligibility conditions and guidelines to make them efficient and competitive. 25,000 crore, during the last 3 years. of below Board level executives to subcommittees of the Board or to executives of the CPSE, as may be decided by the Board of the CPSE. (DPE O.M. Criteria For Getting A Navaratna status Given below are the criteria an organization needs to get the Navratna Status: Should already have Miniratna status Also has to have a rating of either very good or excellent for three of the five years that are taken into consideration The PSU should have obtained ‘excellent’ or ‘very good’ MoU rating in three of the last five years. 1000 crore or 15% of their net worth on a single project without seeking government approval. Having Navratna status Listed on the Indian stock exchange, with a minimum prescribed public shareholding under SEBI regulations An average annual turnover of more than Rs. Focus on Criteria for Prelims , delegation of powers is optional read. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. CPSEs Category II: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. The Boards of Maharatna CPSEs have been delegated the following powers: To incur capital expenditure on purchase of new items or for replacement, without any monetary ceiling, To enter technology joint ventures (JVs) or strategic alliances, To obtain technology and know-how by purchase or other arrangements. (ii) manpower cost to total cost of production/services. 1,000 core for ‘Navratna’ (CPSEs). Average annual turnover of more than 25,000 crore, during the last 3 years. To make equity investment to establish financial JVs and wholly owned subsidiaries and undertake mergers and acquisitions (M&As) in India or abroad, subject to a ceiling of 15% of the net worth of the concerned CPSE, limited to Rs.5.000 crore in one project. Criteria for grant of Navratna status: The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely, 30 crore or more in at least one of the three years and should have a positive net worth. Maharatna Scheme was introduced for Central Public Sector Enterprises (CPSEs), with effect from 19th May, 2010, in order to empower mega CPSEs to expand their operations and emerge as global giants.The objective of the scheme is to delegate enhanced powers to the Boards of identified large-sized Navratna CPSEs so as to facilitate expansion of their operations, both in domestic as well … Also, the recent addition in this category is the NBCC (National building … In addition, the Boards of ‘Maharatna’ CPSEs will have powers to create below Board level posts up to E-9 level. 30 crore or more in at least one of the three years and, should have made profit for the last three years continuously and, 1. No. We provides the best study sources required for you to clear the UPSC civil services exam. 10,000 crore for 3 years To establish financial joint ventures and wholly owned subsidiaries in India or abroad with the stipulation that the equity investment of the CPSE should be limited to the following:-, b. The overall ceiling on such investments in all projects put together will not exceed 30% of the net worth of the concerned CPSE. Additional powers to “Maharatna”: The Boards of ‘Maharatna’ CPSEs in addition  to exercising all powers to ‘Navratna’ CPSEs, will exercise enhanced powers in the area of investment in joint ventures/subsidiaries  and creation of below Board level posts. 1. 4. Criteria for grant of Navratna status to CPSEs. The central Government has laid down eligibility criteria to grant Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs).This article is explaining the criteria for granting the Maharatna, Navaratna and Miniratna status granted to PSUs/ CPSEs. The Chief Executives of these CPSEs have the power to approve business tours abroad of functional directors upto 5 days, duration (other than study tours, seminars, etc) in emergency, under intimation to the Secretary of the administrative ministry. Earnings per share 3. These categories were Category I and Category II. These public sector enterprises shall not depend upon budgetary support or Government guarantees. Criteria for grant of Navratna status :- The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely, Maharatna PSUs Criteria required to procure a Maharatna status for CPSEs. To effect organisational restructuring including establishment of profit centers, opening of offices in India and abroad, creating new activity centres, etc. To get a Maharatna status the CPSEs have to full-fill given criteria: Category –I CPSEs should have made profit in the last three years continuously, the pre-tax profit should have been Rs. Creation and winding up of all posts including and upto those of non Board-level Directors, i.e. These CPSEs shall be eligible for the enhanced delegated powers provided they have not defaulted in the repayment of loans/interest payment on any loans due to the Government. In a year, these companies can spend up to 30% of their net worth not exceeding Rs. should have made profit in the last three years continuously, the pre-tax profit should have been Rs. 25,000 crore, during the last 3 years. Bharat Heavy Electricals Limited and GAIL (India) Limited have been granted ‘Maharatna’ status during the year 2012-13. Like Maharatna, Navratnas should also the criteria of CPSEs to be called as Navratna. To create below Board level posts up to E-9 level and to wind up all below Board level posts. In October 1997, the Government decided to grant enhanced autonomy and delegation of financial powers to some other profit making companies (other than the Navratnas) subject to certain eligibility conditions and guidelines to make them efficient and competitive. Criteria for grant of Navratna status to CPSEs . The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely. 1. Maharatna and Navaratna state-owned units operate in strategic fields such as coal, petroleum, steel, heavy engineering, telecommunications, power supply and transportation services. The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. 250 crore or equal to 50 % of the net worth, whichever is less. The government grants the status of Navratna, Miniratna and Maharatna to Central Public Sector Enterprises (CPSEs) based upon their performance and profit. Eligibility Criteria for Navratna. Holding companies are empowered to transfer assets, float fresh equity and divest shareholding in subsidiaries subject to the condition that the delegation will only be in respect of subsidiaries set up by the holding company under the powers delegated to Navratna/Maharatna CPSEs and further to the proviso that a) the public sector character of the concerned CPSE (including subsidiary) would not be changed without prior approval of the Government, and b) such Maharatna CPSEs will be required to seek Government approval before exiting from their subsidiaries. 15,000 crore, during the last 3 years. The current criteria for grant of ‘Narvatna’ status are size neutral. Recently ‘Maharatna’ status has been granted by the Government to state-owned Hindustan Petroleum Corporation Limited and Power Grid Corporation of India Limited. The annual income of the companies is possibly more than 25 crore rupees. 500 crore or equal to net worth, whichever is less. The Board of Directors of these CPSEs has the power to further delegate the powers relating to Human Resource Management (appointments, transfers, postings, etc). (i) Bharat Heavy Electricals Limited, (ii) Coal India Limited, (iii)  GAIL (India) Limited, (iv)  Indian Oil Corporation Limited, (v) NTPC Limited, (vi) Oil & Natural Gas Corporation Limited and (vii)Steel Authority of India Limited. continuous, Pre-Tax Profit > Rs.30 Crores in at least one of the 3 years and positive net worth (ii) Category- II We are Moving our blog iksa.in (Since 2013) to ". The current criteria for grant of Navratna status are size neutral. The Board of Directors of these CPSEs have the powers to enter into technology joint ventures, strategic alliances and to obtain technology and know-how by purchase or other arrangements, subject to government guidelines as may be issued from time to time. The administrative ministry concerned shall decide whether a public sector enterprise fulfilled the requirements of a category I/category II company before the exercise of enhanced powers. The company should possess Navratna status. In all other cases including those of Chief Executive, tours abroad would continue to require the prior approval of the Minister of the Administrative Ministry/Department. 18(24)/2003-GM- GL.67 Dated 12th August, 2005) Download (44.2 KB) The eligibility conditions and criteria are: Presently, there are 7 Maharatna, 16 Navratna and 71 Miniratna CPSEs. Should have significant global presence/international operations. 5,000 crore, during the last 3 years. To raise debt from the domestic capital markets and for borrowings from international market, which would be subject to the approval of RBI/Department of Economic Affairs as may be required and should be obtained through the administrative ministry. These public sector enterprises shall not depend upon budgetary support or Government guarantee. Average annual turnover of more than Rs. (iv) Average annual net worth of more than Rs. A Miniratna-II company needs to make profits for three years and have a positive net worth. Criteria for a PSU to get 'Maharatna' status. The new objective of the ‘Maharatna’ scheme is to empower mega CPSEs to expand their operations and emerge as global giants. PBDIT (Profit Before Depreciation, Interest and Taxes) Maharatna. Under this scheme, the Government has enhanced powers delegated to CPSEs having comparative advantage and the potential to become global players. To further delegate the powers relating to Human Resource Management (appointments, transfer, posting etc) of below Board level executives to sub-committees of the Board or to executives of the CPSE, as may be decided by the Board of CPSE. The Boards of ‘Maharatna’ CPSEs will have powers  to (a)  Make equity investment to establish financial joint ventures and wholly owned subsidiaries in India or abroad and (b) undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15%  of the net worth of the concerned CPSE in one project, limited to an absolute ceiling of Rs. Average annual turnover of more than 25,000 crore, during the last 3 years. Average annual turnover of more than Rs. Background: The endeavour of the Government is to make Central Public Sector Enterprises (CPSEs) autonomous board managed companies. in emergency, under intimation to the Secretary of the Administrative Ministry. The Government of India gave the status of Navratna to 9 CPSEs, to provide them with more power and autonomy to compete in the global market, to support them in their drive to become global giants. Over the years, some of the Navratna companies have grown very big and have considerably larger operations than their peers. (iii) Average annual turnover of more than Rs. 10,000 crore during the last three years Gross profit as a part of the turnover 5. Average annual net worth of more than Rs. Criteria for grant of Maharatna status: Shall be given to CPSEs: Having Navratna status. Average annual net worth of more than Rs. Average annual net worth of more than Rs. The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. 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