New Delhi (31.08.2024): Union Finance Minister Nirmala Sitharaman on Friday accorded “Navratna” status to four Central Public Sector Enterprise (CPSE) including NHPC, SJVN, Railtel Corporation and Solar Energy Corporation (SECI). With these four “Miniratna” companies joining the league the number of Navratna CPSEs has gone upto 25.
What “Navratna” status brings big dividends and a brighter future ahead is that these CPSEs would have greater autonomy, allowing them more room for investments without government approval and they can now also form joint ventures or alliances and set up overseas subsidiaries. Now they can invest up to 30% of their net worth in a year, with a cap of ₹1,000 crore, and assign investments of up to ₹1,000 crore to projects without needing government approvals.
It may be underlined that NHPC reported an annual turnover of ₹8,405 crore and a net profit of ₹3,744 crore for FY 2023-24. SJVN had a turnover of ₹2,833 crore and a profit of ₹908 crore while SECI recorded an annual turnover of ₹13,035 crore with a net profit of ₹436 crore for FY24. Railtel had an annual turnover of ₹2,622 crore and a profit of ₹246 crore.
New Delhi (31.08.2024): Union Finance Minister Nirmala Sitharaman on Friday accorded “Navratna” status to four Central Public Sector Enterprise (CPSE) including NHPC, SJVN, Railtel Corporation and Solar Energy Corporation (SECI). With these four “Miniratna” companies joining the league the number of Navratna CPSEs has gone upto 25.
What “Navratna” status brings big dividends and a brighter future ahead is that these CPSEs would have greater autonomy, allowing them more room for investments without government approval and they can now also form joint ventures or alliances and set up overseas subsidiaries. Now they can invest up to 30% of their net worth in a year, with a cap of ₹1,000 crore, and assign investments of up to ₹1,000 crore to projects without needing government approvals.
It may be underlined that NHPC reported an annual turnover of ₹8,405 crore and a net profit of ₹3,744 crore for FY 2023-24. SJVN had a turnover of ₹2,833 crore and a profit of ₹908 crore while SECI recorded an annual turnover of ₹13,035 crore with a net profit of ₹436 crore for FY24. Railtel had an annual turnover of ₹2,622 crore and a profit of ₹246 crore.
