There are 214 (245 all in) operational CPSEs, of which 160 are profit making and 153 are loss making and one unite is neither profit making nor loss making with cumulative investment of Rs.4.21 lakh crore. CPSEs provide employment to 16.14 lakh people.
Navratna was the title given originally to nine Public Sector Enterprises (PSEs), identified by the Government of India in 1997 as its most prestigious, which allowed them greater autonomy to compete in the global market. The number of PSEs having Navratna status has been raised to 18, the most recent addition being Coal India Limited.
In addition, the government created another category called Miniratna. Miniratnas can also enter into joint ventures, set subsidiary companies and overseas offices but with certain conditions. In Nov 2009, there were 62(48 in category I and 14 in category II) government enterprises that were awarded Miniratna status.
In 2009, the government established the Maharatna status, which raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore. The Maharatna firms would now be free to decide on investments up to 15 per cent of their net worth in a project.
Earlier, the Navaratna companies could invest up to Rs 1,000 crore without government approvals.
In order to qualify as a Maharatna, a company must have:
- Three years with an annual net profit of over Rs. 5,000 crore
- Net worth of Rs. 15,000 crore
- Turnover of Rs. 25,000 crore
The only companies currently meeting the criteria are SAIL, ONGC and NTPC.
CPSEs listed in Foreign Stock Market
MTNL –New York SE
GAIL –London SE
SAIL- London SE