List of Maharatna Companies in India

India is home to several large public sector undertakings (PSUs) that play a crucial role in the country's economic growth. Among these, Maharatna companies hold a special status, enjoying greater financial and operational autonomy. Let’s take a closer look at what Maharatna companies are, the latest list of Maharatna PSUs in 2025, their contributions, and the benefits they receive.

What is a Maharatna Company?

A Maharatna company is a public sector enterprise (PSU) in India that has been granted special financial and operational powers by the government. This status allows these companies to make significant investment decisions without requiring government approval, giving them the flexibility to expand and compete globally.

Maharatna companies are selected from Navratna companies based on strict financial and performance criteria. The goal is to help these PSUs operate at an international level, enabling them to make faster decisions and grow their businesses effectively.

List of Maharatna Companies in India (2025)

As of 2025, India has 14 Maharatna companies, which include some of the largest and most profitable PSUs in the country. Here’s the updated list:

1. Bharat Heavy Electricals Limited (BHEL)

2. Bharat Petroleum Corporation Limited (BPCL)

3. Coal India Limited (CIL)

4. Gas Authority of India Limited (GAIL)

5. Hindustan Petroleum Corporation Limited (HPCL)

6. Indian Oil Corporation Limited (IOCL)

7. NTPC Limited

8. Oil and Natural Gas Corporation (ONGC)

9. Power Finance Corporation (PFC)

10. Power Grid Corporation of India Limited (PGCIL)

11. Rural Electrification Corporation Limited (REC)

12. Steel Authority of India Limited (SAIL)

13. National Mineral Development Corporation (NMDC)

14. Hindustan Aeronautics Limited (HAL)

Source: Department of Public Enterprises

These companies operate in key industries such as power, oil, gas, coal, and infrastructure, contributing significantly to India's economy.

Overview of Maharatna Companies in India

The Maharatna status was introduced in 2010 by the Indian government to empower PSUs with greater autonomy. Over the years, this status has helped companies expand operations, increase revenue, and improve efficiency.

Maharatna companies are spread across various sectors, ensuring India’s energy security, industrial growth, and infrastructure development. They contribute significantly to employment generation, foreign exchange earnings, and technological advancements.

Role and Contribution of Maharatna Companies

Maharatna PSUs play a critical role in the Indian economy. Here’s how:

1. Driving Economic Growth

These companies generate revenue and contribute significantly to India's GDP. For instance, ONGC, IOCL, and NTPC are some of the highest revenue-generating entities in the country.

2. Employment Generation

Maharatna companies employ lakhs of people directly and create indirect employment through their projects and supply chains.

3. Infrastructure Development

From power generation to energy distribution and steel manufacturing, these PSUs provide the backbone for India’s infrastructure.

4. Global Expansion

Many Maharatna companies have international operations, helping India strengthen its global presence in various industries.

Eligibility Criteria to Become a Maharatna Company

Not every PSU can achieve Maharatna status. A company must meet the following eligibility criteria:

1. Navratna Status - The company must already be a Navratna PSU before applying for Maharatna status.

2. Listed on the Stock Exchange - The company should be publicly listed on Indian stock exchanges.

3. Annual Net Profit - The company should have a net profit of ₹5,000 crore or more for at least three consecutive years.

4. Turnover - The average annual turnover should be ₹25,000 crore or more in the last three years.

5. Net Worth - The average net worth of the company must be ₹15,000 crore or more in the last three years.

6. Global Presence - The company should have a significant international footprint.

Benefits of a Maharatna Company in India

Being recognised as a Maharatna company comes with several advantages. Here are some of the key benefits:

1. Greater Financial Autonomy - Maharatna companies can invest up to ₹5,000 crore or 15% of their net worth in a single project without government approval.

2. Faster Decision-Making - These PSUs can make quicker investment decisions, leading to better business expansion and efficiency.

3. Global Competitiveness - Maharatna status allows companies to expand internationally, making them more competitive on a global scale.

4. Increased Market Capitalization - Due to their financial strength, these companies attract higher investments and stock market value.

5. Flexibility in Joint Ventures - Maharatna PSUs can enter into joint ventures and acquisitions without excessive government oversight.

6. Improved Employee Benefits - Employees of Maharatna companies often receive higher salaries, better incentives, and career growth opportunities.

Conclusion

Maharatna companies are the backbone of India’s public sector and play a crucial role in economic growth, infrastructure development, and employment generation. With financial autonomy and global reach, these companies continue to drive India’s progress forward.

If you are interested in knowing more about the latest Maharatna companies in India, keep an eye on government updates as the list evolves every few years.