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(iii) profit before depreciation, interest and taxes to capital employed. 1000 cr. These CPSEs shall be eligible for the enhanced delegated powers provided they have not defaulted in the repayment of loans/interest payment on any loans due to the Government. Criteria for grant of Navratna status to CPSEs. 30 crore or more in at least one of the three years and should have a positive net worth. Average annual net … (iv) Average annual net worth of more than Rs. Not specified by Department of Public Enterprises. A score of 60 (out of 100) is required, based on parameters which are given below. The ‘Maharatna’ Scheme will empower big sized CPSEs to expand their operations and emerge as global giants. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely. Average annual turnover of more than 25,000 crore, during the last 3 years. 10,000 crore during the last three years The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. The Complete list of Maharatna, Navratna and Miniratna CPSEs (Central Public Sector Enterprises) and their status criteria are as of date October 13, 2017 are as follows. In all other cases including those of Chief Executive, tours abroad would continue to require the prior approval of the Minister of the Administrative Ministry/Department. These public sector enterprises shall not depend upon budgetary support or Government guarantee. Functional Directors, who may have the same pay scale that of Board level Directors, but who would not be members of the Board. The overall ceiling on such equity investments and mergers  and acquisitions in all projects put together will not exceed 30% of the net worth of the concerned CPSE. For Maharatna status: Having Navratna status, Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations, Average annual turnover of more than Rs. We are Moving our blog iksa.in (Since 2013) to ". Criteria for Grant of Navratna Status to CPSEs: The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. 10,000 crore for 3 years A Miniratna-II company needs to make profits for three years and have a positive net worth. Bharat Heavy Electricals Limited and GAIL (India) Limited have been granted ‘Maharatna’ status during the year 2012-13. The Boards of ‘Maharatna’ CPSEs will have powers  to (a)  Make equity investment to establish financial joint ventures and wholly owned subsidiaries in India or abroad and (b) undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15%  of the net worth of the concerned CPSE in one project, limited to an absolute ceiling of Rs. continuous, Pre-Tax Profit > Rs.30 Crores in at least one of the 3 years and positive net worth (ii) Category- II Eligibility Criteria for Maharatna: The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. The Board of Directors of these CPSEs have the powers to enter into technology joint ventures, strategic alliances and to obtain technology and know-how by purchase or other arrangements, subject to government guidelines as may be issued from time to time. 15,000 crore, during the last 3 years. Background: The endeavour of the Government is to make Central Public Sector Enterprises (CPSEs) autonomous board managed companies. Recently ‘Maharatna’ status has been granted by the Government to state-owned Hindustan Petroleum Corporation Limited and Power Grid Corporation of India Limited. Eligibility Criteria: A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna. should have made profit in the last three years continuously, the pre-tax profit should have been Rs. Maharatna PSUs Criteria required to procure a Maharatna status for CPSEs. Should have significant global presence/international operations. They also enjoy the freedom to enter joint ventures, form alliances and float subsidiaries abroad. The new objective of the ‘Maharatna’ scheme is to empower mega CPSEs to expand their operations and emerge as global giants. Navratna Companies – Eligibility Criteria & Benefits of the Navratna Status. 15 % of the net worth of the CPSE in one project, c. 30 % of the net worth of the CPSE in all joint ventures/subsidiaries put together. The administrative ministry concerned shall decide whether a public sector enterprise fulfilled the requirements of a category I/category II company before the exercise of enhanced powers. In a year, these companies can spend up to 30% of their net worth not exceeding Rs. The above delegation of powers is subject to similar conditions as are applicable to Navratna CPSEs. Holding companies are empowered to transfer assets, float fresh equity and divest shareholding in subsidiaries subject to the condition that the delegation will only be in respect of subsidiaries set up by the holding company under the powers delegated to Navratna/Maharatna CPSEs and further to the proviso that a) the public sector character of the concerned CPSE (including subsidiary) would not be changed without prior approval of the Government, and b) such Maharatna CPSEs will be required to seek Government approval before exiting from their subsidiaries. To effect organizational restructuring including establishment of profit centre, opening of offices in India/abroad, creating new activity centres etc. 5,000 crore, during the last 3 years. Additional powers to “Maharatna”: The Boards of ‘Maharatna’ CPSEs in addition  to exercising all powers to ‘Navratna’ CPSEs, will exercise enhanced powers in the area of investment in joint ventures/subsidiaries  and creation of below Board level posts. These categories were Category I and Category II. Average annual turnover of more than Rs. 2. 1000 crore or 15% of their net worth on a single project without seeking government approval. 4. The Board of Directors of these CPSEs has the power to further delegate the powers relating to Human Resource Management (appointments, transfers, postings, etc). Maharatna and Navaratna state-owned units operate in strategic fields such as coal, petroleum, steel, heavy engineering, telecommunications, power supply and transportation services. 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