The Government of India has given 'Maharatna' status to PSU company Hindustan Aeronautics Limited (HAL). With this, HAL has become the 14th company in India to achieve 'Maharatna' status. The Department of Public Enterprises gave this information by sharing a post on social media platform X.
DPE said that Finance Minister Nirmala Sitharaman has approved the upgrade of Indian PSU company HAL to the 14th Maharatna CPSE. This proposal was earlier recommended by the Inter Ministerial Committee (IMC) headed by the Finance Secretary and the Apex Committee headed by the Cabinet Secretary.
Annual turnover of the company is Rs 28,162 crore. HAL is a CPSE (Central Public Sector Enterprises) of the Department of Defense Production (DoDP). The annual turnover of the company has been Rs 28,162 crore and the net profit in the financial year 2023-24 has been Rs 7,595 crore.
What are the benefits of HAL after getting Maharatna status? After getting Maharatna status, HAL will have autonomy, higher investment capability and strategic flexibility. Now HAL can invest up to ₹5,000 crore or 15% of its net worth in a project without any government approval.
Like any other Maharatna company, HAL will have the freedom to make mergers, acquisitions and strategic investments at domestic and international levels.
List of Maharatna companies in India
1. National Thermal Power Corporation (NTPC)
2. Oil and Natural Gas Corporation (ONGC)
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
13. Oil India Limited (OIL)
14. Hindustan Aeronautics Limited (HAL)
Graphics Source: VaskarAssets
