Govt likely to upgrade four Miniratna PSUs to Navratna status soon

Govt plans to upgrade Cochin Shipyard, Goa Shipyard, GRSE, and MOIL

The Union finance ministry is planning to upgrade the status of four central public sector enterprises (CPSEs) from Miniratna to Navratna in the next few months, according to a senior government official.

 

“The companies under consideration include Cochin Shipyard Ltd, Goa Shipyard Ltd, Garden Reach Shipbuilders & Engineers Ltd, and MOIL Ltd,” said the official.

 

The Navratna scheme was introduced in 1997 to identify CPSEs with comparative advantages and support them in their drive to become global giants. Under this scheme, the boards of Navratna CPSEs have been delegated autonomy and enhanced powers in areas such as capital expenditure, investment in joint ventures/subsidiaries, mergers & acquisitions, and human resources management.

 

An email sent to the finance ministry remained unanswered until the time of going to press.

 

MOIL, formerly known as Manganese Ore (India) Limited, is a state-owned mining company headquartered in Nagpur, Maharashtra. Established in 1962, MOIL is the largest producer of manganese ore in India, serving primarily the domestic steel industry. The company has consistently demonstrated strong quarterly performance, underscoring its solid position in the mining sector. For the quarter ended March 2025, MOIL reported net profit of ₹115.65 crore with a 27 per cent year-on-year growth. The company was listed on the stock exchanges in November 2010.

 

Garden Reach Shipbuilders & Engineers Limited (GRSE), established in 1884 and taken over by the Government of India in 1960, is a premier shipbuilding company based in Kolkata, West Bengal. GRSE is known for constructing warships and auxiliary vessels for the Indian Navy and Coast Guard. The company launched its initial public offering (IPO) in September 2018. In the fourth quarter of FY25, GRSE reported a sharp 118 per cent year-on-year increase in net profit to ₹224 crore, reflecting robust operational performance. 

 

Cochin Shipyard Limited (CSL), founded in 1972 and headquartered in Kochi, Kerala, is one of India’s leading shipbuilding and maintenance facilities. CSL constructs a wide range of vessels, including tankers, bulk carriers, passenger ships, and offshore support vessels, while also offering ship repair services to domestic and international clients. The company went public with its IPO in August 2017. In Q4 FY25, CSL posted a consolidated net profit of ₹287 crore, marking an 11 per cent year-on-year growth.

 

Goa Shipyard Limited (GSL), incorporated in 1967 and operating under the Ministry of Defence, is a prominent defence public sector undertaking located in Vasco da Gama, Goa. GSL, which is an unlisted CPSE, specialises in designing and building advanced vessels such as patrol vessels, missile craft, and offshore patrol vessels for the Indian Navy and Coast Guard.