Govt grants Navratna status to IRCTC and IRFC, 26 CPSEs now with tag; Here's the list

The Union government has accorded Navratna status to the Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC), the department of public enterprises announced on Monday, taking the total number of Navratna Central Public Sector Enterprises (CPSEs) to 26.

"The Government has approved the upgradation of Indian Railway Catering and Tourism Corporation (IRCTC) to Navratna CPSE, making it the 25th #Navratna among CPSEs!” the department said in a post on X.

IRCTC, a public sector enterprise under ministry of railways, reported an annual turnover of ₹4,270.18 crore, profit after tax of ₹1,111.26 crore and a net worth of ₹3,229.97 crore for FY 2023-24.

In a separate post, the department of public enterprises made a similar announcement for IRFC.

"The Government has approved the upgradation of Indian Railway Finance Corporation (IRFC) to Navratna CPSE, making it the 26th #Navratna among CPSEs!” it said.

IRFC, also under ministry of railways, reported an annual turnover of ₹26,644 crore, PAT of ₹6,412 crore and a net worth of ₹49,178 crore for FY 2023-24, the department added.

Navratna status is conferred upon CPSEs that meet stringent financial and operational criteria. To be eligible, a company must have Miniratna-I status, be classified as a Schedule 'A' enterprise, and have secured 'excellent' or 'very good' MOU ratings in three of the last five years. A composite score of at least 60 in key performance indicators—such as net profit to net worth, manpower cost to total cost of production, and earnings per share—is also required.

With the latest announcements, IRCTC and IRFC join the ranks of existing Navratna companies, including Bharat Electronics Limited, Engineers India Limited, NMDC Limited, and ONGC Videsh Ltd, among others.

The Navratna status grants CPSEs enhanced financial and operational autonomy, allowing them to make higher-value investments without requiring government approval, thus fostering faster decision-making and growth.

Here’s the list of Navratna companies:

1. Bharat Electronics Limited
2. Container Corporation of India Limited
3. Engineers India Limited
4. Mahanagar Telephone Nigam Limited
5. National Aluminium Company Limited
6. National Buildings Construction Corporation Limited
7. Neyveli Lignite Corporation Limited
8. NMDC Limited
9. Rashtriya Ispat Nigam Limited
10. Shipping Corporation of India Limited
11. Rail Vikas Nigam Limited
12. ONGC Videsh Ltd
13. Rashtriya Chemicals & Fertilizers Limited
14. IRCON
15. RITES
16. National Fertilizers Limited
17. Central Warehousing Corporation
18. Housing & Urban Development Corporation Limited
19. Indian Renewable Energy Development Agency Limited
20. Mazagon Dock Shipbuilders Limited
21. Railtel Corporation of India Limited
22. Solar Energy Corporation of India (SECI) Ltd.
23. NHPC Limited
24. SJVN Limited
25. IRCTC
26. IRFC