The Department of Public Enterprises has officially granted Hindustan Aeronautics Limited (HAL) the prestigious Maharatna Central Public Sector Enterprise (CPSE) status. The announcement was made on October 12, 2024, via a post on X (formerly Twitter). The upgradation was approved by Union Finance Minister Nirmala Sitharaman, following recommendations from two high-level committees—the Inter-Ministerial Committee (IMC), chaired by the Finance Secretary, and the Apex Committee, led by the Cabinet Secretary.

HAL’s impressive financial performance, with an annual turnover of Rs 28,162 crore and a net profit of Rs 7,595 crore for FY 2023-24, was key to this recognition. This Maharatna status will significantly boost HAL’s operational autonomy and financial powers. Previously, Oil India received Maharatna status in August 2023. Other PSUs with Maharatna status include BHEL, BPCL, Coal India, GAIL, HPCL, Indian Oil, NTPC, ONGC, Power Grid, SAIL, Oil India, REC, and PFC.

For Maharatna qualification, companies must meet criteria including an average turnover exceeding Rs 25,000 crore, an annual net worth over Rs 15,000 crore, and a net profit exceeding Rs 5,000 crore over the last three years. Maharatna status empowers PSUs to make capital investments without monetary limits, allowing them greater autonomy from budgetary support or government guarantees.

In contrast, Navratna status allows companies to invest up to Rs 1,000 crore or 15% of their net worth in a single project without prior government approval.

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