Miniratna Company

A Miniratna Company is a government-designated status for Central Public Sector Enterprises (CPSEs) in India that have demonstrated sustained profitability and operational capability — granting them enhanced financial and operational autonomy compared to ordinary CPSEs, though less expansive than the autonomy granted to Navratna and Maharatna companies. Miniratna status is available in two categories: Category I CPSEs (which have made profits continuously for three years, with at least ₹30 crore pre-tax profit in one of the three years) can independently invest up to ₹500 crore or their net worth, whichever is lower. Category II CPSEs (profitable for three consecutive years with a positive net worth) can invest up to ₹300 crore. Both categories have restrictions — they cannot invest in joint ventures, subsidiaries, or undertake mergers and acquisitions without government approval, unlike Navratna companies. As of 2025, India has over 60 Miniratna CPSEs spanning sectors including defence, civil aviation, shipping, mining, and media. Examples include Airport Authority of India, BEML, IRCTC, Cochin Shipyard, and National Fertilizers. For PSU stock investors, Miniratna designation is a positive governance signal — it indicates the company has met sustained profitability thresholds and earned a degree of decision-making freedom, though it remains more constrained in its strategic autonomy than Navratna peers.