The Government of India (GoI) has granted the ‘Maharatna’ status to the Indian PSU Hindustan Aeronautics Ltd (HAL). The Department of Public Enterprises informed us about HAL's upgrade to the 14th Maharatna company in India from its official ‘X’ channel account (formerly known as Twitter). The DPE said on Saturday that Finance Minister Nirmala Sitharaman has given her nod to upgrade the Indian PSU to Maharatna status.

The Department of Public Enterprises informed about the development regarding HAL from its official ‘X’ channel account saying, “Hon’ble Finance Minister has approved the upgradation of Hindustan Aeronautics Limited (HAL) to 14th #Maharatna CPSE. The proposal has earlier been recommended by Inter-Ministerial Committee (IMC) headed by Finance Secretary and Apex Committee headed by Cabinet Secretary. HAL is a Department of Defence Production (DoDP) CPSE with an annual turn over of ₹28,162 crore and net profit of ₹7,595 crore for FY 2023-24.”

Benefits of Maharatna Company

After the Maharatna status, HAL will have greater autonomy, higher investment capability, and strategic flexibility. Now, HAL can invest up to ₹5,000 crore or 15% of its net worth (whichever is applicable in the future) in a single project without requiring any government approval. Like any other Maharatna company, HAL will have the freedom to undertake mergers, acquisitions, and strategic investments both domestically and internationally.

List of Maharatna Companies In India

HAL will be the 14th Maharatna company in India. First 13 Maharatna companies are as below:

1) National Thermal Power Corporation (NTPC) Ltd;
2) Oil and Natural Gas Corporation (ONGC) Ltd;
3) Steel Authority of India Limited (SAIL);
4) Bharat Heavy Electricals Limited (BHEL);
5) Indian Oil Corporation Limited (IOCL);
6) Hindustan Petroleum Corporation Limited (HPCL);
7) Coal India Limited (CIL);
8) GAIL India Limited;
9) Bharat Petroleum Corporation Limited (BPCL);
10) Power Grid Corporation of India Limited;
11) Power Finance Corporation (PFC);
12) Rural Electrification Corporation (REC) Limited; and
13) Oil India Ltd (OIL)

Agencies