Hindustan Aeronautics Limited (HAL) has really been given the distinguished situation of Maharatna Central Public Sector Enterprise (CPSE). The information was made on October 12 by the Department of Public Enterprises utilizing a message on X, complying with authorization from Finance Minister Nirmala Sitharaman.
This improve was suggested by 2 top-level boards: the Inter-Ministerial Committee (IMC), chaired by the Finance Secretary, and the Apex Committee, led by the Cabinet Secretary.
Hon’ ble Finance Minister has really accepted the upgradation of Hindustan Aeronautics Limited (HAL) to 14th #Maharatna CPSE. The proposition has really beforehand been suggested by Inter-Ministerial Committee (IMC) headed by Finance Secretary and Apex Committee headed byCabinet Secretary HAL is … pic.twitter.com/xBR18okU74— Department of Public Enterprises (@DPE_GoI) October 12, 2024
HAL, which runs below the Department of Defence Production (DoDP), reported a flip over of Rs 28,162 crore and an internet earnings of Rs 7,595 crore for the fiscal yr 2023-24.
With Maharatna’s situation, HAL will definitely acquire from boosted purposeful freedom and better financial energy.
The newest enterprise to be granted the Maharatna situation was Oil India, which bought the classification in August 2023.
What Is Maharatna Status?
The Government of India categorizes Central Public Sector Enterprises (CPSEs) proper into 3 teams–Maharatna, Navratna, and Miniratna– based mostly upon particulars qualification necessities.
In India, Public Sector Undertakings (PSUs) are categorised based mostly upon their non-financial targets and are signed up below Section 8 of the Companies Act, 2013 (beforehand Section 25 of the Companies Act, 1956).
The Maharatna classification was introduced in 2010 to establish and award high-performing PSUs.
Eligibility Criteria for Maharatna Status:
To certify as a Maharatna, a enterprise must fulfill the checklist under issues:
- Hold Navratna Status: The enterprise must have presently acquired Navratna situation.
- Stock Exchange Listing: The enterprise must be famous on the Indian inventory market with the minimal public shareholding based mostly on Securities and Exchange Board of India (SEBI) tips.
- Profitability: It should have an extraordinary yearly web earnings after tax obligation of overRs 5,000 crore over the past 3 years.
- Turnover or Net Worth: The enterprise must fulfill among the many complying with financial standards:
- An extraordinary yearly flip over ofRs 25,000 crore over the earlier 3 years, or
- An extraordinary yearly complete property ofRs 15,000 crore for 3 successive years.
- Global Presence: The enterprise must have a substantial worldwide existence or run worldwide.
These necessities be sure that Maharatna enterprise are monetarily sturdy, operationally impartial, and with the flexibility of constructing appreciable decisions with out calling for federal authorities authorization.
Maharatna Companies In India List
With HAL’s altitude, India presently flaunts 14 Maharatna PSUs, consisting of great entities like BHEL, BPCL, Coal India, GAIL, HPCL, Indian Oil, NTPC, ONGC, Power Grid, SAIL, Oil India, REC, PFC, and HAL.
