Navratna Companies in India

Key Takeaways:

• Navratna companies in India are the second most prominent category of Central Public Sector Enterprises (CPSEs) after Maharatna companies.

• To be a Navratna company, the PSU must fit into the predetermined eligibility criteria.

• They enjoy high decision-making powers compared to other Mini Ratna PSU companies.

What are Navratna Companies?

Navratna companies in India are a category of PSU (Public Sector Undertakings) that have been granted higher financial and operational autonomy by the government.

Compared to other PSUs, a Navratna company enjoys higher decision-making powers in areas such as capital expenditure, joint ventures, and investment.

To be classified as a Navratna company, a PSU must be in the list of the Miniratna Category-1 company. It must also meet specific performance criteria based on parameters like net profit, net worth, turnover and global competitiveness.

These PSU companies get the freedom to:

• Invest up to ₹1,000 crore or 15% of net worth (whichever is lower) without government approval.
• Annual investment flexibility of up to 30% of net worth, subject to the ₹1,000 crore cap.
• Higher autonomy in HR policies.
• Enter joint ventures and strategic alliances.
• Expand into international borders.

This autonomy allows Navratna companies to compete effectively in domestic and international markets.

Eligibility Criteria for the Navratna Company

The Central Public Sector Enterprises (CPSEs) can become Navratna companies if they meet certain conditions:

• They must already be Miniratna Category- I companies.
• They should belong to Schedule ‘A’ (a higher category of companies).
• They must have performed very well, getting ratings like “Excellent” or “Very Good” in their performance reviews (MoU) in at least 3 out of the last 5 years.

Additionally, the CPSEs must score 60 or above based on the performance indicator:

List of Navaratna Companies in India 2026

As of 2026, the list of Navratna companies in India has expanded to 26 companies. The table below shows the names and establishment dates of companies.

Overview of Navratna Companies in India

Here is the brief overview of the 26 Navratna companies.

1. Bharat Electronics Limited

Bharat Electronics Limited is a leading defence PSU manufacturing advanced electronic systems for the armed forces. It specialises in radars, communication equipment, and missile systems while also expanding into civilian sectors like cybersecurity, smart cities, and homeland security solutions.

2. Container Corporation of India Limited

Container Corporation of India Limited provides logistics and container transportation services across India. It operates inland container depots and terminals, facilitating export-import trade. CONCOR plays a crucial role in multimodal logistics, supply chain efficiency, and freight movement across rail networks.

3. Engineers India Limited

Engineers India Limited offers engineering consultancy and EPC services for oil, gas, petrochemical, and infrastructure sectors. It delivers complex projects domestically and internationally, leveraging strong technical expertise, innovation, and project management capabilities to support industrial development.

4. Mahanagar Telephone Nigam Limited

Mahanagar Telephone Nigam Limited provides telecom services in Delhi and Mumbai, including fixed-line, broadband, and mobile services. Despite facing intense competition, MTNL remains significant in India’s telecom infrastructure, supporting government communication networks and public sector connectivity.

5. National Aluminium Company Limited

National Aluminium Company Limited is a major integrated aluminium producer with operations spanning bauxite mining, alumina refining, and aluminium smelting. NALCO contributes significantly to India’s metal sector and exports while maintaining cost-efficient and environmentally sustainable operations.

6. NBCC (India) Limited

NBCC (India) Limited is a leading construction and project management PSU specialising in infrastructure, real estate, and redevelopment projects. It executes government housing schemes, urban development projects, and international assignments, contributing to modernisation and infrastructure growth across regions.

7. NLC India Limited

NLC India Limited focuses on lignite mining and power generation. It operates thermal and renewable energy projects, contributing to India’s power supply. The company is expanding into solar and wind energy, supporting India’s transition toward sustainable and diversified energy sources.

8. NMDC Limited

NMDC Limited is India’s largest iron ore producer, supplying raw materials to steel industries. It operates large-scale mining projects and is expanding into steel production and international mining, playing a crucial role in India’s industrial and infrastructure development.

9. Rashtriya Ispat Nigam Limited

Rashtriya Ispat Nigam Limited, known as Vizag Steel, produces high-quality steel products for the infrastructure and engineering sectors. It operates an integrated steel plant and supports India’s construction and manufacturing industries through consistent production and technological upgrades.

10. Shipping Corporation of India Limited

Shipping Corporation of India Limited provides maritime transport services, including bulk carriers, tankers, and container vessels. It supports India’s overseas trade and energy transportation while playing a strategic role in ensuring reliable shipping infrastructure and logistics capabilities.

10. Rail Vikas Nigam Limited

Rail Vikas Nigam Limited develops railway infrastructure, including track doubling, electrification, and bridge construction. It implements projects assigned by Indian Railways, improving connectivity, efficiency, and capacity while supporting modernization of India’s rail transport network.

12. ONGC Videsh Limited

ONGC Videsh Limited is the international arm of ONGC, focusing on oil and gas exploration abroad. It operates projects across multiple countries, securing energy resources and strengthening India’s global energy presence and long-term energy security.

13. Rashtriya Chemicals & Fertilisers Limited

Rashtriya Chemicals & Fertilisers Limited manufactures fertilisers and industrial chemicals. It supports India’s agricultural sector by ensuring a timely supply of essential nutrients while promoting sustainable farming practices and enhancing agricultural productivity.

14. RITES Limited

RITES Limited provides transport infrastructure consultancy services across railways, highways, ports, and urban transport. It operates globally, offering design, engineering, and project management solutions while contributing to infrastructure development and the export of technical expertise.

15. IRCON International Limited

IRCON International Limited specialises in infrastructure construction, particularly railway and highway projects. It executes domestic and international contracts, contributing to transport infrastructure development while showcasing India’s engineering capabilities globally.

16. National Fertilisers Limited

National Fertilisers Limited produces urea and other fertilisers, supporting India’s agricultural sector. It operates multiple manufacturing units and ensures supply to farmers, contributing to food security and agricultural productivity across the country.

17. Central Warehousing Corporation

Central Warehousing Corporation provides storage and logistics solutions for agricultural produce and industrial goods. It operates warehouses across India, ensuring safe storage, reducing post-harvest losses, and supporting supply chain efficiency.

18. Indian Renewable Energy Development Agency Limited

Indian Renewable Energy Development Agency Limited finances renewable energy projects such as solar, wind, and hydro. It promotes clean energy adoption and supports India’s transition toward sustainable energy by providing financial assistance to developers.

19. Housing & Urban Development Corporation Limited

Housing & Urban Development Corporation Limited finances housing and urban infrastructure projects. It supports affordable housing schemes and urban development initiatives, contributing to improved living standards and sustainable city planning across India.

20. Mazagon Dock Shipbuilders Limited

Mazagon Dock Shipbuilders Limited builds warships and submarines for the Indian Navy. It is a key defence PSU contributing to indigenous shipbuilding capabilities and strengthening maritime security through advanced naval engineering and manufacturing expertise.

21. RailTel Corporation of India Limited

RailTel Corporation provides telecom and broadband services using railway infrastructure. It delivers high-speed connectivity, data centre services, and digital solutions, supporting India’s digital transformation and enhancing communication networks across urban and rural areas.

22. Solar Energy Corporation of India Limited

Solar Energy Corporation of India Limited promotes solar energy development and the implementation of renewable energy projects. It plays a key role in achieving India’s renewable energy targets through project bidding, execution, and policy support.

23. NHPC Limited

NHPC Limited is a leading hydropower generation company in India. It develops and operates hydroelectric projects while expanding into solar and wind energy, contributing to clean energy production and sustainable power generation.

24. SJVN Limited

SJVN Limited generates electricity through hydro, thermal, and renewable energy projects. It operates in India and abroad, contributing to power generation capacity while focusing on sustainable and diversified energy sources.

25. Indian Railway Catering & Tourism Corporation Limited

Indian Railway Catering & Tourism Corporation Limited manages catering, tourism, and online ticketing services for Indian Railways. Its IRCTC platform is widely used for ticket booking, making it a key player in India’s travel and tourism ecosystem.

26. Indian Railway Finance Corporation Limited

Indian Railway Finance Corporation Limited raises funds for Indian Railways by issuing bonds and financing infrastructure projects. It plays a crucial role in supporting railway expansion and modernisation through cost-effective financial solutions.

Significance of Navratna Companies in India

The significance of Navratna companies in India extends beyond just business operations:

• They strengthen India’s public sector ecosystem.
• Ensure self-reliance in critical industries.
• Support government initiatives like “Make in India”.
• Act as a buffer during economic downturns.
• Enhance India’s global industrial presence.

For the share market, these companies provide stable investment opportunities with relatively lower risk compared to private sector volatility.

Benefits of Investing in Navratna Companies

Investing in Navratna companies can be attractive for investors, especially those seeking stability:

1. Stable Returns

Navratna PSUs often provide consistent dividends, making them suitable for income-focused investors.

2. Government Backing

Since these are government companies, they enjoy strong financial and policy support, reducing default risk.

3. Long-Term Growth

Many Navratna companies operate in sectors with long-term growth potential, like energy and infrastructure.

4. Attractive Valuations

Compared to private companies, many PSU stocks are undervalued, offering good entry opportunities.

5. Portfolio Diversification

Including PSU stocks helps diversify risk in an equity portfolio.