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The Department of Public Enterprise, Ministry of Finance, conferred Navratna status on NHPC Limited, Solar Energy Corporation of India (SECI), Railtel Corporation of India (RCIL), and SJVN. With this prestigious designation, the four Central Public Sector Enterprises (CPSEs) will now enjoy enhanced operational and financial autonomy.

SECI, under the Ministry of New and Renewable Energy, has emerged as a key player in expanding India’s renewable energy capacity. With a cumulative generation awarded capacity of 69.25 GW and an annual power trading volume exceeding 42 billion units, SECI has marked its 13th anniversary with significant achievements in renewable energy development. The company recorded a consolidated annual turnover of ₹13,118.68 crore, a 20.85% increase from the previous year, with a profit after tax (PAT) of ₹510.92 crore, a 34.89% growth in FY 2023-24.

Navratna status for NHPC will enhance its ability to make faster decisions, increase efficiency, and empower employees. It will support significant capital expenditure (CAPEX) plans, market expansion, and joint ventures, including the establishment of overseas offices. NHPC is also focused on furthering technological alliances, mergers, and acquisitions to bolster its market presence. Currently, NHPC boasts a total installed capacity of 7,144.20 MW and is working on projects aggregating to 10,442.70 MW, including the 2,000 MW Subansiri Lower project and the 2,880 MW Dibang project. NHPC is targeting an installed capacity of 23,000 MW by 2032 and 50,000 MW by 2047.

The Chairman and Managing Director of NHPC, R.K. Chaudhary, called the Navratna status a “historic moment” and praised the Ministry of Power for its support, recognizing NHPC’s significant contribution to India’s hydropower sector. Chaudhary emphasized the company’s diversification into wind and solar energy, reinforcing its green energy focus.

Railtel Corporation of India (RCIL), now the 22nd Navratna CPSE, operates under the Ministry of Railways and recorded a turnover of ₹2,622 crore and a net profit of ₹246 crore in FY24. SJVN, based in Shimla, also attained Navratna status, as confirmed by the Department of Public Enterprises’ letter dated August 30, 2024. The company’s annual turnover stood at ₹2,833 crore, with a net profit of ₹908 crore for FY24.

With these four companies joining the Navratna ranks, India now has 25 Navratna CPSEs. The Navratna status allows CPSEs to form joint ventures, establish overseas subsidiaries, and invest up to 30% of their net worth in projects, with a cap of ₹1,000 crore, without needing prior government approval.

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In the fiscal year 2023-24, NHPC reported an annual turnover of ₹8,405 crore with a net profit of ₹3,744 crore, while SECI, Railtel, and SJVN also posted impressive financial results.

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