Mazagon Dock Shipbuilders has been granted ‘Navratna status’ by Department of Public Enterprises (DPE). Navratna PSUs have a comparative advantage over other companies as they have been granted financial independence to invest up to Rs 1,000 crore without seeking approval from the Union government.
The board of the 'Navratna' companies has autonomy to incur capital expenditure on the purchase of new items or for replacement without any monetary ceiling and to enter into technology joint ventures or strategic alliances, among others.
Mazagon Dock Shipbuilders is the India's leading defence public sector undertaking shipyard under the Ministry of Defence.
