Being a Maharatna PSU in India is a prestigious status granted to select state-owned companies by the Indian government. To be considered a Maharatna, a PSU must meet certain criteria related to its performance, financials, and global competitiveness. Maharatna PSUs are given greater autonomy and freedom in decision-making, as well as enhanced financial and operational powers. They have the ability to make investments, enter into joint ventures, and make strategic decisions without seeking government approval. This status provides these PSUs with a competitive advantage and helps them to compete effectively in the global market. Here’s a look at how and when India’s only 12 Maharatna PSUs achieved this status.
Bharat Heavy Electricals Ltd (BHEL)
BHEL is an engineering and manufacturing company specialising in power generation equipment and industrial systems. It was established in 1956 and has since become one of the largest power generation equipment manufacturers in the world. BHEL was conferred with the Maharatna status in 2013.
GAIL (India)
GAIL is a natural gas processing and distribution company, which was established in 1984. It plays a key role in the development of India’s natural gas infrastructure and is also involved in petrochemicals and liquid hydrocarbons. In 2013, GAIL was granted Maharatna status.
Indian Oil Corporation Ltd (IOCL)
IOCL is a state-owned oil and gas company, established in 1959. It is the largest commercial enterprise in India and is involved in refining, pipeline transportation, marketing of petroleum products, and exploration and production of crude oil and gas. IOCL was given the Maharatna tag in 2010.
NTPC Ltd
NTPC is an integrated power company that was established in 1975. It is involved in the generation, transmission, and distribution of electricity and has a significant presence in India’s power sector. NTPC joined the Maharatna club in 2010.
Oil & Natural Gas Corporation Ltd (ONGC)
ONGC is a state-owned oil and gas company that was established in 1956. It is involved in the exploration, production, and refining of crude oil and natural gas and is one of the largest oil and gas producers in the world. ONGC became a Maharatna company in 2010.
Steel Authority of India Ltd (SAIL)
SAIL is a state-owned steel-making company that was established in 1973. It is one of the largest steel producers in India and has a significant presence in the global market. SAIL was given the Maharatna tag in 2010.
Power Grid Corporation of India Ltd (PGCIL)
PGCIL is a state-owned electric utility company that was established in 1989. It is involved in the transmission and distribution of electricity and is responsible for maintaining and developing India’s power grid. IN 2019, PGCIL was elevated to a Maharatna.
Bharat Petroleum Corporation Ltd (BPCL)
BPCL is a state-owned oil and gas company that was established in 1952. It is involved in the refining, marketing, and distribution of petroleum products and is one of the largest oil companies in India. By 2017, BPCL became a Maharatna firm.
Hindustan Petroleum Corporation Ltd (HPCL)
HPCL is another leading oil refining and marketing company in India. It was established in 1974 and has since grown to become a Maharatna PSU. HPCL operates a network of refineries and retail outlets across the country, catering to the needs of both domestic and international customers. HPCL joined the Maharatna club in 2019.
Power Finance Corporation Ltd (PFC)
PFC is a leading financial institution in India that provides funding for power infrastructure projects. It was established in 1986 and has since grown to become a Maharatna PSU in 2021. PFC’s journey to becoming a Maharatna was due to its consistent performance, strong financials, and contribution to the power sector.
Rural Electrification Corporation Ltd (REC)
REC is a state-owned company that was established in 1969 with the objective of financing and promoting rural electrification projects in India. The company provides financial assistance and support to state electricity boards, power utilities, and other power sector entities for the