List of Maharatna Companies in India in 2025

List of Maharatna Companies in India: India, with its robust public sector framework, has developed a unique classification system for its central public sector enterprises (CPSEs). Among these, the “Maharatna” status is the most prestigious, signifying excellence in operational efficiency, strategic autonomy, and financial strength.

Introduced in 2009 by the Government of India, the Maharatna scheme allows select CPSEs greater flexibility in investment decisions, empowering them to compete effectively on a global scale. This article provides an in-depth overview of the Maharatna companies in India, their significance, and their contributions to the nation’s economy.

List of Maharatna Companies in India

The following table provides a complete list of Maharatna companies in India as of 2025:

What is a Maharatna Company?

The Maharatna status was conceptualized to grant CPSEs greater operational autonomy and to facilitate their transformation into global giants. Companies accorded this status enjoy enhanced powers compared to Navratna and Miniratna enterprises. For example, Maharatna companies can invest up to 15% of their net worth in a single project without requiring government approval, subject to a ceiling of ₵5000 crores.

To qualify for Maharatna status, CPSEs must meet the following criteria:

1. Net Worth: A minimum of ₵25,000 crores during the last three years.
2. Turnover: an annual turnover of at least ₵75,000 crores during the last three years.
3. Net Profit: A net profit of ₵5,000 crores or more in the last three years.
4. Global Presence: A significant international presence and operations.

List of Maharatna Companies in India

As of 2025, the following companies have been conferred Maharatna status:

1. Oil and Natural Gas Corporation (ONGC)
   • Industry: Oil and Gas
   • Headquarters: New Delhi
   • ONGC is India’s largest oil and gas exploration and production company. Established in 1956, it plays a critical role in ensuring India’s energy security. The company’s operations span exploration, drilling, refining, and distribution, contributing significantly to the national GDP.
2. Indian Oil Corporation Limited (IOCL)
   • Industry: Oil and Gas
   • Headquarters: New Delhi
   • IOCL is one of the largest petroleum companies in India, managing the refining, transportation, and marketing of petroleum products. It operates the largest network of fuel stations in the country and actively invests in renewable energy projects.
3. Steel Authority of India Limited (SAIL)
   • Industry: Steel
   • Headquarters: New Delhi
   • SAIL is one of India’s largest steel producers, with integrated plants and a robust product portfolio. The company is pivotal in supplying raw materials for construction, infrastructure, and manufacturing sectors.
4. Bharat Heavy Electricals Limited (BHEL)
   • Industry: Electrical Equipment
   • Headquarters: New Delhi
   • BHEL specializes in manufacturing power generation equipment and providing engineering services. It has played a key role in powering India’s industrial and infrastructure development.
5. GAIL (India) Limited
   • Industry: Natural Gas
   • Headquarters: New Delhi
   • GAIL is India’s largest natural gas processing and distribution company. It operates an extensive pipeline network and has diversified into renewable energy and petrochemicals.
6. NTPC Limited
   • Industry: Power Generation
   • Headquarters: New Delhi
   • NTPC is India’s largest power generation company, responsible for a significant portion of the electricity supplied to the national grid. The company is also actively pursuing renewable energy projects.
7. Coal India Limited (CIL)
   • Industry: Mining
   • Headquarters: Kolkata
   • CIL is the world’s largest coal-producing company, ensuring the availability of coal for India’s power plants and industrial sectors. The company plays a critical role in the nation’s energy security.
8. Power Grid Corporation of India Limited (PGCIL)
   • Industry: Power Transmission
   • Headquarters: Gurugram
   • PGCIL is responsible for transmitting electricity across India. It operates one of the largest power transmission networks globally and is crucial in integrating renewable energy into the grid.
9. Hindustan Petroleum Corporation Limited (HPCL)
   • Industry: Oil and Gas
   • Headquarters: Mumbai
   • HPCL focuses on refining and marketing petroleum products. The company has a strong presence in retail fuel outlets and is investing in green energy initiatives.
10. Bharat Petroleum Corporation Limited (BPCL)
    • Industry: Oil and Gas
    • Headquarters: Mumbai
    • BPCL is a leading player in refining and distributing petroleum products. The company has also diversified into renewable energy and gas distribution.

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1. Rashtriya Ispat Nigam Limited (RINL)
   • Industry: Steel
   • Headquarters: Visakhapatnam
   • RINL, also known as Vizag Steel, specializes in manufacturing high-quality steel products and serves as a major supplier for various sectors, including construction and transportation.

Importance of Maharatna Companies

1. Economic Contribution: Maharatna companies are significant contributors to India’s GDP. They generate substantial revenues and profits, which are reinvested into the economy.
2. Employment Generation: These companies provide direct and indirect employment opportunities to millions, supporting livelihoods across the country.
3. Global Competitiveness: With their operational autonomy, Maharatna companies can compete effectively in global markets, enhancing India’s economic reputation.
4. Infrastructure Development: Maharatna companies are key players in infrastructure projects, such as building power plants, pipelines, and transportation networks.
5. Social Responsibility: Many Maharatna companies actively engage in corporate social responsibility (CSR) initiatives, including education, healthcare, and environmental sustainability.

Challenges Faced by Maharatna Companies

While Maharatna companies enjoy significant privileges, they also face various challenges:

1. Global Competition: Competing with multinational corporations requires constant innovation and efficiency.
2. Regulatory Framework: Despite their autonomy, these companies often navigate complex regulatory landscapes.
3. Technological Upgradation: To remain competitive, Maharatna companies must invest in modern technologies, which requires significant capital.
4. Sustainability Goals: Balancing profitability with sustainability and environmental goals is a growing challenge.

Future Outlook

Maharatna companies are expected to play a pivotal role in India’s journey toward becoming a $5 trillion economy. With increased investments in renewable energy, digital transformation, and global expansion, these enterprises are set to drive sustainable growth. The government’s continued focus on empowering these entities will ensure they remain at the forefront of India’s industrial and economic landscape.

Conclusion

The Maharatna companies represent the pinnacle of India’s public sector enterprises. Their contributions to the nation’s economic growth, infrastructure development, and social welfare are unparalleled. By embracing innovation and sustainability, these companies can achieve greater heights, not only strengthening India’s position on the global stage but also fostering inclusive development within the country.