India’s public sector enterprises have long been the backbone of the nation’s industrial and economic growth, and among them, Navratna Companies shine as exemplary performers. These elite enterprises, recognized for their strategic importance, consistent profitability, and operational excellence, are empowered with greater autonomy to make independent investment and expansion decisions.
From aerospace and defence to mining, steel, and energy, Navratna Companies drive innovation, infrastructure, and employment across the country. With a blend of government support and managerial freedom, these companies have evolved into competitive, globally recognized entities while continuing to serve India’s developmental goals.
In this blog, we will delve into the Top 15 Navratna Companies in India, highlighting their contributions, reach, and significance in shaping the nation’s industrial landscape.
What is Navratna Company?
A Navratna Company is an Indian public sector enterprise (PSE), which has received certain financial and administrative autonomy by the Government of India to improve the efficiency and competitiveness of its operations.
The concept of the Navratna (or nine gems) was first observed in 1997, with the aim of identifying nine best performing Central Public Sector Enterprises (CPSEs). They choose these companies because of their stable performance, profitability and strategic value to the country. These enterprises have the freedom to make independent investment decisions to a limit without government authorization to expand and diversify faster because of the Navratna status.
The purpose of this recognition is to enable the competent PSUs to compete on the global scale and at the same time continue to contribute to the industrial and economic development of India.
Eligibility Criteria to Become a Navratna Company
- Miniratna Category-I Status: Before the company can seek a Navratna recognition under the category-I status, the company should have already achieved the Miniratna Category-I status, which includes a record of consistent profitability, operational efficiency, and good financial management.
- Schedule A Classification: It should be listed as a Schedule A Central Public Sector Enterprise (CPSE), which means that it has large-scale operation, is of national significance, and plays a major role in the industrial or economic development of India.
- Financial Performance: The company must possess a great financial performance history, covering its frequent net profit, positive net worth and robust turnover within the past three years.
- High Composite Score: It has to score not less than 60 on a scale of 100 depending on the parameters of net profit, total cost of production, turnover, and operational efficiency.
- High Global Presence: Firms that exhibit international competitiveness by exporting, entering foreign partnerships, and undertaking overseas activities receive more marks in the evaluation of attaining Navratna status.
- Managerial and Operational Autonomy: The business should demonstrate high-quality inner management, professionalism, and operational freedom to manage massive projects without the direct interventions of the government.
- Strategic Industry Contribution: The firm is supposed to be in a strategic industry such as the energy sector, mining, transportation and defence that creates direct contribution to the national infrastructure or industry of India.
- Board of Directors Approval: The approval of the company by the Board of Directors is needed, which includes an assurance that the company is willing and able to operate with Navratna-level scope and responsibility.
List of Top 15 Navratna Companies in India
1. National Aluminium Company Limited (NALCO)
National Aluminium Company Limited (NALCO) is a Government Public Sector Enterprise which is located under the Ministry of Mines of Government of India. It was founded in 1981 and it commenced commercial operations in 1987. The company is occupied with bauxite and coal mining, alumina refining, power generation, and aluminum smelting.
Having mine-to-metal integrated operations, NALCO has developed captive power and refining capacities to assist in smelting. It has recorded its best yearly profit of operations (₹16,788 crore) and net profit of 5,325 crore, which is approximately 158 percent higher than the previous year.
NALCO is also known as one of the lowest cost manufacturers of bauxite and alumina in the world, however, it is also focused on sustainability: wind farms (198 MW), roof-top solar, and environment-related efforts are also included in its current expansion plan.
- Headquarters: Bhubaneswar, Odisha, India
- Phone no.: 0674-2301988 to 2301999
- Founded in: 1981
- Website: https://nalcoindia.com/
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹41,548 Cr
2. Engineers India Limited (EIL)
Engineers India Limited (EIL) is one of the prominent navratna companies in India, serving as a state-owned engineering consultancy firm and project execution company under the Ministry of Petroleum and Natural Gas. Established in 1965, its headquarters is located in New Delhi.
Its main strengths include refining petroleum, chemical, petrochemical, and fertilizer projects, as well as onshore and offshore oil and gas pipelines, terminals, storage and infrastructure, mining, metallurgy, and urban infrastructure. EIL has several regional and branch offices, including one in the Middle East
Over the last few years, the company has expanded into markets in cleaner energy like bio-fuels, green hydrogen and offshore wind. EIL had registered an excellent growth in its order inflows and profit, and its order book was in a good financial position in FY 2023-24.
- Headquarters: New Delhi, India
- Phone no.: +91-11-26762121
- Founded in: 1965
- Website: https://www.engineersindia.com
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): 13,008.47 Cr
3. Container Corporation of India Limited (CONCOR)
CONCOR is a leading multimodal logistics company in Delhi. It was created in 1988 and began operations in 1989 under the Ministry of Railways, initially specializing in inland container depots (ICDs).
With time, it has transformed into container freight stations (CFSs), domestic container depots, first/last-mile connectivity, warehousing, value-added logistics, cold chain, and multimodal parks. It owns approximately 66 terminals (ICDs, CFSs, depots) in India as of FY 2023-24. The majority (about 80 percent) of its business is the EXIM traffic.
The company, recognized among the leading companies in India, is adopting environmentally-friendly and digital solutions, including LNG trucks and carbon footprint reduction. It has also invested in expanding terminals, wagons, and IT infrastructure to improve service throughput and quality.
- Headquarters: Delhi, India
- Phone no.: 011-41222500
- Founded in: 1988
- Website: https://www.concorindia.co.in
- Navratna Company Status: Yes (Navratna Central Public Sector Enterprise under Ministry of Railways)
- Market Cap (in Rs. Cr.): ₹43,800 Cr
4. National Mineral Development Corporation (NMDC)
NMDC Ltd is the most popular iron ore producing company in India, and a Navratna CPSE in the ministry of steel.
Established in 1958 and headquartered in Hyderabad, it owns a number of fully mechanised iron ore mines (primarily in Chhattisgarh and Karnataka) and also the sole mechanised diamond mine in Panna, Madhya Pradesh. In addition to iron ore and diamonds, NMDC examines a number of other minerals, such as copper, limestone, magnesite, and so on.
The firm is also in the process of increasing output with a target of 100 million tonnes per annum being realized in 2030. It has big orders, high sales to the key steel manufacturers and contributes greatly to the supply chain of raw materials in India.
- Headquarters: Hyderabad, Telangana, India
- Phone no.: 040 – 23538713-21
- Founded in: 1958
- Website: https://www.nmdc.co.in
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹67,829 crore
5. NBCC (India) Limited
NBCC, formerly National Buildings Construction Corporation, is a state-owned firm established in 1960 and based in Delhi. It is one of the recognized navratna companies in India and operates in the construction and infrastructure industry.
NBCC has three core verticals: Project Management Consultancy (PMC), Engineering Procurement and Construction (EPC), and Real Estate Development. The majority of its turnover comes from PMC projects (government contracts, redevelopment of government colonies, hospitals, airports, etc.), while smaller portions come from EPC (such as power sector structures) and real estate.
NBCC is traded in the NSE and BSE. It has recorded steady growth: low turnover in early 2000s to multibillion turnover over the years (turnover of about ₹10,666.68 crore in FY 2023- 24) in diversified projects.
- Headquarters: New Delhi, India
- Phone no.: 011 – 24367314
- Founded in: 1960
- Website: https://www.nbccindia.in
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): 30,588 Cr
6. Hindustan Aeronautics Limited (HAL)
Hindustan Aeronautics Limited (HAL), one of the prominent Navratna hubs in India, is the Indian flagship aerospace and defence Public Sector company, based in Bengaluru, Karnataka. HAL was established in 1940 and has several divisions of production and research and development centers across the country.
It creates, produces, mends, and maintains aircraft (fighters, trainers), helicopters, engines and associated mechanisms, avionics, and aero-structures. The Tejas Light Combat Aircraft (LCA), advanced trainer aircraft, and helicopters have been some of the key indigenous projects that HAL has been a major contributor to. Maintenance and overhaul of foreign platforms are also undertaken by the company.
As part of its growth strategy, HAL has embarked on increasing production lines (e.g., at Nashik) and has been participating in small-satellite launch vehicle tenders. It forms the core of defence self-reliance and the “Make in India” initiative in aerospace.
- Headquarters: Bengaluru, Karnataka, India
- Phone no.: +91 – 80 – 22320934 / +91- 11- 26960096 / +91 – 80 – 22320197
- Founded in: 1940
- Website: https://www.hal-india.co.in
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹3,17,360 crore
7. Bharat Electronics Limited (BEL)
Bharat Electronics Limited (BEL) is One of the leading navratna companies in India and a top defence government-owned enterprise under the Ministry of Defence. Established in 1954, BEL produces high-technology electronic equipment for the Indian Armed Forces, including radars, sonars, communication networks, and electronic warfare systems.
The company also covers the civilian markets such as telecommunications, homeland security, and solar energy. BEL has several divisions and research and development facilities in India and enjoys good export relationships with other countries of the world.
Its innovative, self-reliant, and indigenous design inclination can be compared with the process of Atmanirbhar Bharat in India. BEL announced a huge revenue growth in FY 2024, and it once again confirmed its position as the pillar of the Indian defence technology sector.
- Headquarters: Bangalore, Karnataka, India
- Phone no.: +91- 80-25039300
- Founded in: 1954
- Website: https://www.bel-india.in
- Navratna Company Status: Yes (Navratna Defence PSU under Ministry of Defence)
- Market Cap (in Rs. Cr.): ₹3,01,200 Crore
8. Mahanagar Telephone Nigam Limited (MTNL)
Mahanagar Telephone Nigam Limited (MTNL) is a telecommunications company operating under the Department of Telecommunications and it caters to the metropolis areas of Delhi and Mumbai.
Since its inception in 1986, MTNL has played an important role in the history of telecommunication in India offering fixed-line, broadband, and mobile services. The company was a first mover in a number of aspects such as Internet and mobile services in India.
Although competition and financial hurdles have decreased its market share, with the help of the government, MTNL is still in business hoping to modernize and optimize its networks. It is currently undertaking a merger with Bharat Sanchar Nigam Limited (BSNL) in an attempt to empower national telecom infrastructure.
- Headquarters: New Delhi, India
- Phone no.: 011 24310212/24320051
- Founded in: 1986
- Website: https://www.mtnl.in
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹2,676 Cr
9. Neyveli Lignite Corporation (NLC India Limited)
“NLC India Limited (formerly the Neyveli Lignite Corporation) is one of the prominent Navratna Companies in India, owned by the Ministry of Coal and established in 1956. Located in Neyveli, Tamil Nadu, it focuses on mining and power production (both thermal and renewable).
NLC also operates open-cast lignite mines and several thermal power stations, making it a key contributor to India’s energy sector. Additionally, it has expanded into solar and wind energy initiatives, promoting sustainable and green practices.
Other forms of diversification of the company include the mining of coal in Odisha and renewable energy power parks in India. NLC India with its high level of sustainability and innovation is still useful in converting the country to cleaner sources of energy.
- Headquarters: Neyveli, Tamil Nadu, India
- Founded in: 1956
- Website: https://www.nlcindia.in/website/en/
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹37,432 crore
10. Rashtriya Ispat Nigam Limited (RINL – Vizag Steel)
Rashtriya Ispat Nigam Limited (RINL), also referred to as Vizag Steel, is a steel manufacturing industry that is under the ministry of steel and is known as a Navratna company.
It began operations in 1982 in the state of Andhra Pradesh (Visakhapatnam) and it has the first integrated steel plant in India where the enterprise is located on the coast. RINL manufactures quality steel products such as bars, rod, wire rods and structural steel which are used in construction and manufacturing.
The company has been key in the development of the Indian steel industry and market in exports. RINL is operating in spite of recent financial challenges as it aims at modernizing and expanding in order to achieve competitiveness and sustainability.
- Headquarters: Visakhapatnam, Andhra Pradesh, India
- Phone no.: 0891-2740405
- Founded in: 1982
- Website: https://www.vizagsteel.com/index.asp#
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹4,500 crore (Unlisted)
11. Shipping Corporation of India (SCI)
The Shipping Corporation of India Limited (SCI), one of the prominent navratna companies in India, is a PSU under the Ministry of Ports, Shipping, and Waterways, founded in 1961.
SCI provides shipping services across various segments including crude oil, bulk, breakbulk, container, and offshore. It is India’s largest shipping company, contributing to global trade and maritime logistics. SCI operates a diversified fleet and plays a critical role in India’s energy transport and strategic maritime interests.
Despite challenges in global shipping markets, SCI remains operationally strong, expanding into LNG transportation and offshore services. The government’s disinvestment plans are ongoing but SCI continues as a key national asset.
- Headquarters: Mumbai, Maharashtra, India
- Phone no.: 022 – 22026666
- Founded in: 1961
- Website: https://www.shipindia.com
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹10,721 crore
12. Rail Vikas Nigam Limited (RVNL)
Rail Vikas Nigam Limited (RVNL) is one of the prominent navratna companies in India, operating as a Navratna CPSE under the Ministry of Railways since its establishment in 2003.
It was created to implement and fast-track rail infrastructure projects such as track doubling, electrification, new lines, and metro expansion. RVNL operates as a turnkey project executor, handling design, finance, and construction. With consistent profitability, it has delivered over 300 projects, contributing significantly to India’s rail modernization.
RVNL also undertakes urban transport and metro projects across major cities. In FY 2024, RVNL achieved record revenues and entered global markets through international rail consultancy ventures.
- Headquarters: New Delhi, India
- Phone no.: 91-11-26738299
- Founded in: 2003
- Website: https://rvnl.org/home
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹71,307 crore
13. Oil India Limited (OIL)
Oil India Limited (OIL) is a leading Navratna Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Government of India.
Established in 1959 and headquartered in Noida, Uttar Pradesh, OIL is India’s second-largest national oil and gas company. It is engaged in exploration, production, and transportation of crude oil and natural gas, as well as the production of LPG and renewable energy initiatives.
With operations across India and overseas, OIL plays a key role in ensuring national energy security. The company continues to expand into clean and sustainable energy projects, aligning with India’s long-term energy transition goals.
- Headquarters: Noida, Uttar Pradesh, India
- Phone no.: 0120 – 2419000
- Founded in: 1959
- Website: https://www.oil-india.com
- Navratna Company Status: Yes (Navratna CPSE under Ministry of Petroleum & Natural Gas)
- Market Cap (in Rs. Cr.): ₹72,800 Crore
14. Rashtriya Chemicals and Fertilizers Limited (RCF)
Rashtriya Chemicals and Fertilizers Limited (RCF) is a leading Navratna PSU under the Ministry of Chemicals & Fertilizers, founded in 1978 and headquartered in Mumbai.
RCF manufactures a wide range of fertilizers and industrial chemicals including urea, complex fertilizers, and methanol. Its popular brands, Ujjwala and Suphala, serve millions of farmers across India. RCF operates two major manufacturing units — Trombay (Mumbai) and Thal (Raigad).
RCF, actively promotes sustainable agriculture through bio-fertilizers and eco-friendly products. The company has demonstrated stable financial performance and continues to play a crucial role in India’s food security and chemical production.
- Headquarters: Mumbai, Maharashtra, India
- Phone no.: 022-2552 3000
- Founded in: 1978
- Website: https://www.rcfltd.com/
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹8,039 crore
15. RITES Limited
RITES Limited is a multidisciplinary engineering consultancy and project management company established in 1974 under the Ministry of Railways.
It provides services in transport infrastructure sectors including railways, highways, ports, airports, and urban transport. RITES operates globally in over 55 countries, offering consultancy, export of rolling stock, turnkey project execution, and advanced project management solutions. It is known for cost-effective and sustainable engineering solutions.
In FY 2024, RITES achieved record revenue and order book size, supported by increasing international contracts. Its commitment to green energy, smart mobility, and digital engineering has strengthened its global reputation as India’s leading transport consultant.
- Headquarters: Gurugram, Haryana, India
- Phone no.: 91-124-2571666
- Founded in: 1974
- Website: https://www.rites.com
- Navratna Company Status: Yes (Navratna CPSE)
- Market Cap (in Rs. Cr.): ₹12,232 crore
Ending Thoughts
In conclusion, Navratna Companies in India play a pivotal role in the country’s economic and industrial landscape by combining public ownership with operational autonomy. Recognised for their consistent performance, profitability, and strategic importance, these enterprises are empowered to make investment and expansion decisions independently, fostering efficiency, innovation, and competitiveness.
The Navratna status not only motivates PSUs to enhance productivity but also enables them to compete with global players while contributing significantly to national development. By granting autonomy, the government ensures that these companies can respond quickly to market demands, diversify operations, and strengthen India’s industrial base. Overall, Navratna Companies exemplify a successful model of public sector governance balancing accountability, growth, and global competitiveness.
FAQs
What Is a Navratna Company?
A Navratna Company is a Central Public Sector Enterprise (CPSE) in India granted special autonomy by the government, allowing financial and operational independence to enhance competitiveness and efficiency.
How Does a Company Qualify For Navratna Status?
A company must meet criteria including Miniratna-I status, Schedule ‘A’ classification, strong financial performance, high composite score, strategic sector presence, managerial autonomy, and Board approval to be eligible.
What Benefits Do Navratna Companies Receive?
Navratna Companies enjoy enhanced investment powers, independent project approvals, flexible HR and financial management, faster decision-making, and the ability to compete effectively in domestic and international markets.
