- Ministry of Finance has upgraded ONGC Videsh Limited to ‘Navratna’ status.
- ONGC Videsh has now become a ‘Navaratne’ Central Public Sector Enterprise (CPSE) from Category-I ‘Miniratnav’.
- ONGC Videsh has become the 14th Navratna company in the list of CPSEs. It is a CPSE of Petroleum & Natural Gas Sector. During FY2023, its annual turnover was 11,676 crores and net profit was 1700 crores.
- To become Navratna, the company must first have Miniratna status. Along with this, it is also necessary to have four independent directors on their board.
- Apart from this, the company is required to score 60 out of 100 marks in several parameters like Net Worth, Net Profit, Total Production Cost, Manpower Cost, Service Cost, PBDIT.
List of navratna companies
- Companies like Bharat Electro Nixa Limited, Container Corporation of India Engineers India Limited, Hindustan Aeronautics Limited, MTNL National Aluminum Company Limited, NBCC NMDC Rail Vikas Nigam Limited, Rashtriya Y Ispat Nigam Limited, Shipping Corporation of India are included in the list of Navratna companies.