Gas utility GAIL is expected to get the Maharatna status soon as the proposals for granting the coveted tag gets high-level secretaries’ panel approval. At present, the company is Navratna public sector undertaking (PSU).
A Maharatna firm can take investment decision of up to Rs 5,000 crore without going to the government. For Navratna firms, this limit is Rs 1,000 crore. A company qualifying for the Maharatna status should have an average annual turnover of more than Rs 25,000 crore in the last three years, according to the guidelines.
GAIL meets two parameters related to turnover and net worth however, its net profit falls short of the eligibility criteria of Rs 5,000 crore on an average annual basis in the last three fiscals. This is because GAIL along with state-owned explorer ONGC and Oil India sold LPG and crude oil to refineries at a discount to partly compensate them for selling diesel and cooking fuel below cost.
Company Name | CMP |
---|---|
GAIL India | 204.35 |
Petronet LNG | 297.55 |
Linde India | 8688.80 |
Confidence Petroleum | 82.35 |
Refex Industries | 136.05 |
View more.. |