Maharatna Companies in India: List of Maharatna Companies 2022

By K Balaji|Updated : November 16th, 2022

Maharatna Companies in India were formed by the central government in 2010. India has its own establishments owned by the government, which are called Central Public Sector Enterprises (CPSEs). These enterprises are divided into three main categories based on their financial autonomy and are known as Maharatna Company, Navratna Company, and Miniratna Company.

The inception of these companies is rooted in the idea of providing companies with greater financial autonomy and helping them gain footing in the global market. At present, there are 11 Maharatna Companies in India. To know more about these companies, and the updated list of 2022, read the information below.

Table of Content

Maharatna Company

A Maharatna Company in India is one which is provided with status by the central government. These are the companies that already had the status of Navaratna Company. Maharatna Companies have greater financial and authoritative autonomy that helps them grow and compete at a global level. These companies also have greater freedom in choosing their investments. They can invest in a project to 15% of their net worth.

Maharatna Companies in India PDF

Maharatna Companies in India function with relative independence and do not have to seek the government’s approval for its every decision. These companies have an investment ceiling of Rs. 5,000 crores as their operations function on a higher level. There are a total of 11 Maharatna companies in India. In 2021, Power Finance Corporation Limited became the 11th Maharatna Company after fulfilling all the requirements needed to become one.

Maharatna Companies Eligibility Criteria

All government-owned companies in India are established under the Companies Act, 2013. The Indian PSUs are set up under Section 8 of the same Act. They are categorised as Maharatna Company based on specified objectives that are both financial and non-financial in nature. The eligibility criteria an undertaking must satisfy to become a Maharatna Company are listed below.

  • It must have the Navratna Company status
  • The profit of the company after the tax should be more than Rs. 5000 crores during the last three years.
  • It must be listed in the Indian Stock Market.
  • It must also have the prescribed public shareholding as per SEBI (Securities and Exchange Board of India) rules.
  • In the last three years, the company must have an average net worth of Rs. 15,000.
  • The company must have an international presence and global operations.

Maharatna Company Benefits

There are various benefits which the Maharatna Companies and their employees receive due to their status. These are some of the most important companies in the country. The various benefits of Maharatna companies in India are provided below.

  • There is an investment benefit provided to Maharatna Companies as well. They can invest up to Rs. Rs. 5,000 crores or 15% of their total net worth in a project as per their description.
  • The employees of a Maharatna Company are recognised as central government employees and are provided with the same perks and benefits such as pensions, etc.
  • The officers in these companies attain the status of Gazetted Officers at the higher levels.
  • These companies are internationally recognised and often participate in global projects.

Maharatna Companies in India 2022

There are 11 Maharatna companies in India as of October 2021. These companies have been given the Maharatna status for their various establishments and status globally. We have provided the list of Maharatna companies along with their founding years below.

List of Maharatna Companies in India

Founding Year

Company Name


Bharat Heavy Electricals Limited (BHEL)


Bharat Petroleum Corporation Limited (BPCL)


Coal India Limited (CIL)


Gas Authority of India Limited (GAIL)


Hindustan Petroleum Corporation Limited (HPCL)


Indian Oil Corporation Limited (IOCL)


National Thermal Power Corporation (NTPC)


Oil and Natural Gas Corporation (ONGC)


Power Grid Corporation of India


Steel Authority of India Limited (SAIL)


Power Finance Corporation

Maharatna Company List: Overview

Each Maharatna Company in India is unique and has its specialised operations which make it successful. They all are crucial to the Indian economy and play an important role in the efficiency with which the country is run as well. To better understand Maharatna Companies, we have provided an overview of them below.

  • Bharat Heavy Electricals Limited: Popularly known as BHEL, it was founded in 1964 and is owned by the government. It is a power generation equipment manufacturer and works under the Ministry of Heavy Industries.
  • Bharat Petroleum Corporation Limited: BPCL, one of the famous Maharatna companies in India, is an oil corporation and is one of the largest in the country. It is in charge of the operations of refineries in Kochi and Mumbai, which are the largest ones in the country.
  • Coal India Limited: CIL produces the largest quantity of coal in the world and is owned by the Indian government. It was founded in November 1975 and is the 7th biggest employer in the country.
  • Gas Authority of India Limited: Popularly known as GAIL, it is India's largest natural gas company and handles the processing and distribution of natural gas across the nation.
  • Hindustan Petroleum Corporation Limited: HPCL produces various petroleum fuels. It handles and operates two major refineries located in Mumbai and Visakhapatnam.
  • Indian Oil Corporation Limited: It is the country’s largest commercial oil company. IOCL is responsible for 11 out of 23 refineries in India and is operated by the Ministry of Petroleum and Gas.
  • National Thermal Power Corporation: NTPC is the largest generator and distributor of electricity in the country. It handles the majority of India’s power requirements.
  • Oil and Natural Gas Corporation: ONGC produces more than 70% of India’s crude oil and performs crucial functions such as gas exploration and production corporation.
  • Power Grid Corporation of India: It operated 90% of power transmission systems in India by distributing it state-wise and then region-wise.
  • Steel Authority of India Limited: SAIL has five integrated and three specialised steel plants. It is the largest steel-producing company in India.
  • Power Finance Corporation: Established in 1986, it performs non-banking financial functions to help India’s power sector.

Maharatna, Navratna, Miniratna UPSC

Maharatna Companies are the companies that already have the status of Navratna Company but have more profits. They also experience a higher level of financial independence in relation to their investment and operational decisions. Miniratna companies are the ones that have had a profit of Rs. 30 crores in the last three years; out of the three they have relatively less autonomy. A Navratna company status is given to the company that has achieved above-average performance in terms of its operations, costs, profits, etc.

All these companies are a part of Central Public Sector Enterprises and are owned by the Government of India. As of present, India has 11 Maharatna companies, 14 Navratna companies in India, and 74 Miniratna companies that operate in different industries and have varying levels of profits and operations. The knowledge about Navratra, Miniratna, and Maharatna companies is significant for the UPSC exam preparation, which is why all aspirants must read this article till the end and download the PDF from the link above.

Important Notes for UPSC
Direct Tax and Indirect TaxAgro Climatic Zones of India
Moderate Phase (1885 to 1905)Motions in Parliament
Swaraj PartyAssent to Bills
Drainage System of IndiaChief Ministers of India
Tropical Deciduous ForestNational Commission for Scheduled Caste


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FAQs on Maharatna Companies in India

  • A Maharatna Company in India is a Navaratna Company with more autonomy in terms of financial decisions. Maharatna Companies in India have the advantages which help them operate globally and have the freedom to invest up to 15% of their net worth in a project. These companies are crucial to the Indian economy and its functioning.

  • There are a total of 11 Maharatna Companies in India. The latest addition was made in the month of October 2021. All these companies have a global presence and are internationally recognised for their operations.

  • The 11th PSU to become a Maharatna Company is Power Finance Corporation which was established in 1986. It performs non-banking financial functions to assist India’s power sector in its various operations. It is operated under the Ministry of Power and is owned by the Government of India.

  • The first company to gain the status of Maharatna Company in India was Bharat Heavy Electricals Limited (BHEL). It was established in 1964 and is owned by the central government. It operates under the Heavy Industries Ministry to manufacture generation equipment crucial to the power industry.

  • Maharatna Companies are decided based on various factors such as them having Navratna Company status and a profit of Rs. 5000 crores during the last three years. They must also be listed in the Indian stock market and have a public shareholding. In the last three years, they must have a net worth of more than Rs. 15,000 crores.

  • The benefits of working in Maharatna Companies in India are similar to those of working in central government departments. Employees of Maharatna Companies get the same allowances like pensions, etc. They can also become a Gazetted Officer if they reach a higher level in these companies.

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