Engineers India (EIL) is likely to get Navratna status from government, which will provide the company greater operational autonomy. The company’s application for the Navratna status has been accepted by the Department of Public Enterprises.
The criteria for granting the Navratna status is based on a composite score system. The PSUs are accorded scores on different performance parameters such as net profit, net worth and manpower cost to the total cost of production. The board of directors of the 'Navratna’ PSUs can take investment decisions up to Rs 1,000 crore without the approval from the government.
Engineers India is engaged in the business of providing engineering and related technical services for petroleum refineries and other industrial projects.
At present, there are 16 Navratna companies including Bharat Electronics, Bharat Heavy Electrical, GAIL and Rashtriya Ispat Nigam.