List of Maharatna Companies in India 2022

In 2010, the Government of India established the Maharatna Company category to provide companies with greater financial autonomy and to assist them in competing in the global market. Based on their financial autonomy, India’s Central Public Sector Enterprises (CPSEs) are classified into three categories. These categories include Maharatna Companies, Navratna companies, and Miniratna companies.

There are currently 11 Maharatna Companies in India. Read on to learn more about these companies and the list of Maharatna Companies in India.

What is a Maharatna Company?


Maharatna Companies have greater financial autonomy, which allows them to compete on a global scale. Such businesses can invest up to 15% of their net worth in a project. They are not required to obtain explicit government approval for this purpose. The government increased the investment ceiling for Maharatna Companies to 5,000 crores because they are in a higher category.

Maharatna Companies in India

In 2021, a new Maharatna company was added to the list. Power Finance Corporation Ltd. is the name of this company. There are currently 11 Maharatna companies in India.

List of Maharatna Companies in India


The total number of Maharatna companies in India as of October 2021 is 11. The Maharatna company list for 2022 is as follows:

  • Bharat Heavy Electricals Limited (BHEL)
  • Power Grid Corporation of India
  • Gas Authority of India Limited (GAIL)
  • Hindustan Petroleum Corporation Limited (HPCL)
  • Coal India Limited (CIL)
  • Indian Oil Corporation Limited (IOCL)
  • National Thermal Power Corporation (NTPC)
  • Bharat Petroleum Corporation Limited (BPCL)
  • Oil and Natural Gas Corporation (ONGC)
  • Power Finance Corporation
  • Steel Authority of India Limited (SAIL)

Maharatna Company Criteria


A company in India must meet at least one of the three eligibility conditions listed below in order to be included on the Maharatna company list:

  • The business must have generated an average annual net profit of more than 5,000 crores over the previous three years.
  • The company’s average annual net worth over the previous three years should have been 15,000 crores.
  • During the last three years, the company’s average annual turnover must have been 25,000 crores.

Overview of Maharatna Companies in India


  • Bharat Heavy Electricals Limited (BHEL): BHEL is the largest manufacturer of power generation equipment in India. It is a government-owned corporation that has been in business since 1964.
  • Bharat Petroleum Corporation Limited (BPCL): BPCL is India’s second-largest state-owned oil company. It is in charge of the operations of two large refineries in Mumbai and Kochi.
  • Coal India Limited (CIL): CIL is India’s and the world’s largest coal producer. CIL is India’s seventh-largest employer. This public-sector organisation was established in November 1975.
  • Gas Authority of India Limited (GAIL): GAIL is the largest natural gas company in India. It is in charge of the processing and distribution of natural gas throughout the country.
  • Hindustan Petroleum Corporation Limited (HPCL): In India, HPCL operates two major refineries in Mumbai and Visakhapatnam. It manufactures a wide range of petroleum fuels.
  • Indian Oil Corporation Limited (IOCL): The Indian Oil Corporation Limited (IOCL) is the country’s largest commercial oil company. It operates 11 of India’s 23 refineries. The Ministry of Petroleum and Gas, Government of India, runs IOCL. This company was established in June 1959.
  • National Thermal Power Corporation (NTPC): NTPC generates and distributes electricity to the country’s State Electricity Boards. NTPC is India’s largest power producer, providing the majority of the country’s total power requirements.
  • Oil and Natural Gas Corporation (ONGC): The Oil and Natural Gas Corporation of India (ONGC) is the country’s largest oil and gas exploration and production company. It supplies roughly 70% of India’s crude oil. On August 14, 1956, the Indian government established ONGC.
  • Power Grid Corporation of India: The Power Grid Corporation of India is in charge of 90% of India’s interstate and interregional electric power transmission systems.
  • Steel Authority of India Limited (SAIL): SAIL is one of India’s largest steel producers, operating five integrated steel plants and three special steel plants.
  • Power Finance Corporation: The government of India established Power Finance Corporation in 1986. It is a non-banking financial institution that provides financial assistance to India’s power sector.

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