In 2009, the government established the Maharatna status, which raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore. The Maharatna firms would now be free to decide on investments up to 15 per cent of their net worth in a project.
Earlier, the Navaratna companies could invest up to Rs 1,000 crore without government approvals.
Criteria
In order to qualify as a Maharatna, the process is bottoms up. This means the lowest employee should be proud of his/her company and contribute to the same according to the global standards. The 6 point criteria for eligibility as Maharatna are:
1.Having Navratna status.
2.Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
3.An average annual turnover of more than Rs. 25,000 crore during the last 3 years.
4.An average annual net worth of more than Rs. 15,000 crore during the last 3 years.
5.An average annual net profit after tax of more than Rs. 5000 crore during the last 3 years.
6.Should have significant global presence/international operations.
List of Maharatnas:
1.Coal India Limited
2.Indian Oil Corporation Limited
3.NTPC Limited
4.Oil and Natural Gas Corporation
5.Steel Authority of India Limited
maharatna status is granted to listed navaratna central public sector companies with an average annual turnover of more than Rs 25,000 crore, net profit after tax of Rs 5,000 crore and net worth of Rs 15,000 crore during the past three years
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