Bharat Heavy Electricals (BHEL), the power equipment maker which at present has been granted with a Navratna PSU, has now become eligible for grant of Maharatna status. The company has registered a turnover of Rs 49,510 crore, net worth of Rs 25,373 crore and raked in net profit of Rs 7,040 crore during 2011-12, pursuant to which it has become eligible for Maharatna status.
According to the guidelines, a company qualifying for the Maharatna tag should have an average annual turnover of more than Rs 25,000 crore in the last three year along with a net worth of over Rs 15,000 crore and net profit of more than Rs 5,000 crore.
Pursuant to receiving the Maharatna status, the company’s board would not require to take the government’s permission for investments up to Rs 5,000 crore in a joint venture project or wholly-owned subsidiary.
In order to give more operational freedom to the top performing PSUs, the government had announced the Maharatna status in December, 2009. At present, there are five Maharatna companies ONGC, Indian Oil, SAIL, NTPC and Coal India.
Company Name | CMP |
---|---|
BHEL | 293.85 |
Bharat Electronics | 236.20 |
Thermax | 4700.00 |
Kirloskar Oil Eng | 1041.35 |
Praj Industries | 548.80 |
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