Navratna companies represent the highest-performing category among India’s Public Sector Undertakings (PSUs). These enterprises have consistently demonstrated strong financial performance, operational excellence, and strategic importance to the Indian economy.
Recognised for their autonomy, Navratna companies in India are authorised to make large-scale investment decisions of up to ₹1,000 crore without prior approval from the Central Government. Their ability to act independently enables them to compete effectively in domestic and global markets.
Key Aspects of Navratna Companies
- Definition: “Navratna” translates to “nine gems,” originally referring to top PSUs that have grown into major entities.
- Autonomy: These companies can invest in joint ventures, form subsidiaries, and make capital expenditures without seeking approval from the central government.
- Eligibility:
To be considered, a PSU must first be a Miniratna-I, Schedule ‘A’ company, and have obtained an “excellent” or “very good” MoU rating in 3 of the last 5 years
What Is a Navratna Company?
A Navratna company is a Central Public Sector Enterprise (CPSE) that has been granted Navratna status by the Government of India based on stringent financial, operational, and governance criteria.
Compared to other PSUs, a Navratna company enjoys significantly higher decision-making powers in areas such as capital expenditure, joint ventures, overseas investments, and human resource management.
In simple terms, what is a Navratna company?
It is a top-tier PSU recognised for sustained profitability, efficiency, and contribution to India’s long-term economic growth.
Navratna Company List in India (2026)
Below is the updated Navratna company list in India for 2026:
| S. No. | Navratna CPSE | Year Established |
| 1 | Bharat Electronics Limited (BEL) | 1954 |
| 2 | Container Corporation of India Limited (CONCOR) | 1988 |
| 3 | Engineers India Limited (EIL) | 1965 |
| 4 | Hindustan Aeronautics Limited (HAL) | 1940 |
| 5 | Mahanagar Telephone Nigam Limited (MTNL) | 1986 |
| 6 | National Aluminium Company Limited (NALCO) | 1981 |
| 7 | National Buildings Construction Corporation Limited (NBCC) | 1960 |
| 8 | Neyveli Lignite Corporation Limited (NLC India) | 1956 |
| 9 | National Mineral Development Corporation Limited (NMDC) | 1958 |
| 10 | Rashtriya Ispat Nigam Limited (RINL) | 1971 |
| 11 | Shipping Corporation of India Limited (SCI) | 1961 |
| 12 | Rail Vikas Nigam Limited (RVNL) | 2003 |
| 13 | ONGC Videsh Limited (OVL) | 1965 |
| 14 | Rashtriya Chemicals & Fertilisers Limited (RCF) | 1978 |
| 15 | RITES Limited | 1974 |
| 16 | IRCON International Limited | 1976 |
| 17 | National Fertilizers Limited (NFL) | 1974 |
| 18 | Central Warehousing Corporation (CWC) | 1957 |
| 19 | Indian Renewable Energy Development Agency Limited (IREDA) | 1987 (approx)* |
| 20 | Housing & Urban Development Corporation Limited (HUDCO) | 1970 |
| 21 | Mazagon Dock Shipbuilders Limited (MDL) | 1934 |
| 22 | RailTel Corporation of India Limited | 2000 |
| 23 | Solar Energy Corporation of India (SECI) Limited | 2015 |
| 24 | NHPC Limited | 1975 |
| 25 | SJVN Limited | 1988 |
| 26 | Indian Railway Catering & Tourism Corporation Limited (IRCTC) | 1999 |
| 27 | Indian Railway Finance Corporation Limited (IRFC) | 1986 |
This table answers popular search queries such as “navratna company list” and “navratna companies in India 2026.”
Overview of Navratna Companies in India (2026)
Here is a concise overview of all Navratna companies in India, highlighting their core operations and strategic relevance.
1. Bharat Electronics Limited (BEL)
BEL designs and manufactures advanced electronic systems for defence, aerospace, cybersecurity, and civilian infrastructure applications.
2. Container Corporation of India Limited (CONCOR)
CONCOR is India’s leading logistics PSU, providing multimodal container transportation and warehousing services for domestic and international trade.
3. Engineers India Limited (EIL)
EIL offers engineering consultancy and project management services across oil & gas, petrochemicals, infrastructure, and renewable energy sectors.
4. Hindustan Aeronautics Limited (HAL)
HAL is India’s premier aerospace company engaged in the design, manufacture, and maintenance of aircraft, helicopters, and aero-engines.
5. Mahanagar Telephone Nigam Limited (MTNL)
MTNL provides fixed-line, mobile, and broadband telecom services primarily in Delhi and Mumbai.
6. National Aluminium Company Limited (NALCO)
NALCO is a fully integrated aluminium producer with operations spanning bauxite mining, alumina refining, and aluminium smelting.
7. National Buildings Construction Corporation Limited (NBCC)
NBCC undertakes large-scale construction, redevelopment, and infrastructure projects for government and public sector clients.
8. Neyveli Lignite Corporation Limited (NLC India)
NLC India operates lignite mining and power generation projects, with growing capacity in solar and renewable energy.
9. National Mineral Development Corporation Limited (NMDC)
NMDC is India’s largest iron ore producer, engaged in mineral exploration and mining across multiple states.
10. Rashtriya Ispat Nigam Limited (RINL)
RINL operates the Visakhapatnam Steel Plant, India’s first shore-based integrated steel plant.
11. Shipping Corporation of India Limited (SCI)
SCI manages India’s largest merchant shipping fleet, serving bulk, tanker, container, and offshore segments.
12. Rail Vikas Nigam Limited (RVNL)
RVNL executes railway infrastructure projects including new lines, electrification, bridges, and workshops.
13. ONGC Videsh Limited (OVL)
OVL is the overseas arm of ONGC, managing oil and gas exploration and production assets across multiple countries.
14. Rashtriya Chemicals & Fertilisers Limited (RCF)
RCF manufactures fertilisers and industrial chemicals, playing a key role in supporting Indian agriculture.
15. RITES Limited
RITES provides consultancy and project management services in transport and infrastructure sectors in India and abroad.
16. IRCON International Limited
IRCON delivers EPC services for railways, highways, tunnels, bridges, and metro projects domestically and internationally.
17. National Fertilizers Limited (NFL)
NFL is a major producer of nitrogen-based fertilisers, contributing significantly to India’s food security.
18. Central Warehousing Corporation (CWC)
CWC provides warehousing, storage, and logistics infrastructure for agricultural and industrial goods across India.
19. Indian Renewable Energy Development Agency Limited (IREDA)
IREDA finances renewable energy and energy-efficiency projects, supporting India’s clean energy transition.
20. Housing & Urban Development Corporation Limited (HUDCO)
HUDCO offers long-term financing for housing and urban infrastructure development projects.
21. Mazagon Dock Shipbuilders Limited (MDL)
MDL is a leading defence shipyard constructing warships and submarines for the Indian Navy.
22. RailTel Corporation of India Limited
RailTel provides telecom, broadband, data centre, and digital services using the railway optical fibre network.
23. Solar Energy Corporation of India (SECI) Limited
SECI is responsible for implementing solar and renewable energy programmes and large-scale clean energy tenders.
24. NHPC Limited
NHPC is India’s largest hydropower company, also expanding into solar and wind energy projects.
25. SJVN Limited
SJVN develops and operates hydropower and renewable energy projects in India and neighbouring countries.
26. Indian Railway Catering & Tourism Corporation (IRCTC)
IRCTC manages railway catering, tourism services, and online ticketing for Indian Railways.
27. Indian Railway Finance Corporation (IRFC)
IRFC is the financing arm of Indian Railways, responsible for raising funds for rolling stock and infrastructure expansion.
Benefits of Being a Navratna Company in India
Navratna status offers multiple strategic and financial advantages:
- Investment freedom of up to ₹1,000 crore or 15% of net worth per project without government approval
- Annual investment flexibility of up to 30% of net worth, subject to the ₹1,000 crore cap
- Authority to form joint ventures, subsidiaries, and overseas alliances
- Greater autonomy in capital expenditure, HR policies, and strategic planning
These benefits allow Navratna companies to grow faster and compete globally.
Eligibility Criteria to Become a Navratna Company
To qualify as a Navratna company in India, a PSU must:
- Be a Miniratna Category-I CPSE
- Be listed under Schedule ‘A’
- Achieve an Excellent or Very Good MoU rating in at least three of the last five years
- Secure a minimum composite score of 60
Performance Parameters & Weightage
| Parameter | Maximum Weight |
| Earnings per Share (EPS) | 10 |
| PBIT to Turnover | 15 |
| Net Profit to Net Worth | 25 |
| EBITDA to Capital Employed | 15 |
| Manpower Cost to Total Cost | 15 |
| Inter-sectoral Performance | 20 |
Bottom Line
In 2026, Navratna companies in India continue to play a decisive role in shaping the country’s industrial and infrastructure landscape. Their financial autonomy, operational efficiency, and strategic investments make them key drivers of economic growth across sectors such as energy, defence, engineering, logistics, and telecommunications.With strong governance frameworks and global ambitions, Navratna companies remain central to India’s long-term development and competitiveness. Indian investors today also increasingly explore global diversification. Platforms like Appreciate make it easier for Indians to invest in usl markets at low cost, helping balance domestic insights with global opportunities.
FAQs on Navratna companies
26 Navratna companies in India. This follows the strategic elevation of several high-performing public sector enterprises by the Ministry of Finance to enhance their global competitiveness.
Indian Railway Finance Corporation (IRFC) is officially the 26th Navratna company. It achieved this prestigious status in March 2025 alongside IRCTC, following consistent financial growth and high performance ratings.
The four major companies elevated to Navratna status during late 2024 include RailTel, Solar Energy Corporation of India (SECI), NHPC, and SJVN, reflecting the government’s focus on infrastructure and renewable energy.
The two most recent additions to the list, confirmed in early 2025, are IRCTC and IRFC. These railway-affiliated giants were upgraded to provide them with greater financial and operational autonomy.
Maharatna is the higher status. While both categories grant autonomy, Maharatna companies enjoy significantly larger investment ceilings—up to ₹5,000 crore—compared to the ₹1,000 crore limit typically granted to Navratna enterprises.
Disclaimer: Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory.
