List of Miniratna Companies in India

Eligibility Criteria to Become a Miniratna Company

To qualify for Miniratna status, companies must meet the following criteria:

• For Miniratna Companies in Category I

A company must have consistently recorded profits for the past three years. Additionally, it must have earned a pre-tax profit of at least ₹30 crore in the last three years or maintained an average annual turnover of at least ₹120 crore over the same period.

• For Miniratna Companies in Category II

Companies must have made profits in the last three years. They must have also achieved a pre-tax profit of at least ₹20 crore in one of those years or sustained an average yearly revenue of at least ₹80 crore during the last three years.

Benefits of Miniratna Companies in India

Companies categorised as Miniratna Category I enjoy financial autonomy for investment decisions up to ₹500 crore or an amount equivalent to their net worth, whichever is lower. On the other hand, Miniratna Category II companies have the flexibility of financial autonomy for investments up to ₹300 crore or up to 50% of their net worth, whichever is lower.

List of Miniratna Companies in India in 2024

The Miniratna companies lists are classified into Category I and Category II.

• Miniratna I CPSEs

This group includes nearly 57 Miniratna companies, as mentioned in the table given below:

• Miniratna II CPSEs

This category comprises around 11 companies, as mentioned below:

Overview of Miniratna Companies in India

Here is a brief overview of 12 leading Miniratna companies in India: 

• Airports Authority of India (AAI)

The Airports Authority of India (AAI) is responsible for building, upgrading, maintaining and overseeing civil aviation infrastructure throughout India. It manages a total of 137 airports, including 24 international airports, 10 customs airports and 103 domestic airports. 

• Bharat Dynamics Limited (BDL)

BDL manufactures and supplies guided missiles, underwater weapons, airborne products and other defence equipment for the Indian Armed Forces. Additionally, it provides product life cycle support and refurbishment/life extension services for vintage missiles.

• Bharat Sanchar Nigam Limited (BSNL)

BSNL is a telecom service provider with extensive experience in planning, installing, integrating, and maintaining switches and transmission networks.

• Cochin Shipyard (CSL)

Cochin Shipyard is a government-owned shipbuilding company that constructs and repairs large vessels, including ships, for the oil exploration industry. 

• Dredging Corporation of India (DCI)

This company offers dredging services to the major ports in India. It is a leading organisation in dredging and maritime development, providing a comprehensive range of domestic and international services. 

• Garden Reach Shipbuilders & Engineers (GRSE)

Garden Reach Shipbuilders & Engineers manufactures and designs ships for the Indian Navy and the Indian Coast Guard. It also constructs commercial vessels and engages in engineering and engine production. 

• Goa Shipyard (GSL)

GSL has constructed and put into service a diverse array of advanced vessels for various uses in both defence and commercial fields. It specialises in crafting modern patrol vessels with steel and aluminium hull structures.

• India Tourism Development Corporation (ITDC)

ITDC manages hotels and restaurants in various tourist destinations and offers transport services. Additionally, it produces, distributes, and sells tourist literature, provides entertainment, offers engineering consultancy services, and operates duty-free shopping facilities.

• Indian Railway Catering & Tourism Corporation Limited (IRCTC)

IRCTC provides online railway ticket booking, catering services on trains and at railway stations and packaged drinking water. It also offers services at executive lounges, retiring rooms and dormitories.

• IRCON International

It is an engineering and construction company that works in various infrastructure sectors, such as railways, metro systems, tunnels, bridges, flyovers, and more. It handles electrical and mechanical works, as well as commercial and residential building projects.

• NHPC Limited

This Miniratna company is an energy utility that actively plans, promotes, and manages the construction of hydroelectric power plants. NHPC produces electricity using hydro, wind, and solar energy sources. 

• Mazagon Dock Shipbuilders Limited (MDL)

MDL has constructed a total of 801 vessels, which include 27 warships ranging from advanced destroyers to missile boats and 7 submarines. It has delivered various other types of ships, such as cargo ships, passenger ships and supply vessels. 

The Bottom Line

Miniratna companies in India enjoy increased autonomy and financial freedom, enabling them to make swift and efficient decisions without frequent government intervention.  These companies also uphold high standards of corporate governance and transparency, fostering professionalism and accountability.