The Centre has recently approved the upgradation of Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) as the 25th and 26th Navratna companies.

• About Navratna & Miniratna Status:

o Navratnas are central government-owned CPSEs, positioned between Maharatnas and Miniratnas, based on financial performance and autonomy.

o Miniratnas are divided into Category I and Category II, with lower autonomy than Navratnas.

o The Department of Public Enterprises (DPE) under the Ministry of Finance grants Navratna status to eligible CPSEs.

• Navratna Status eligibility: Must be a Miniratna I and Schedule A company.

o Must have an ‘Excellent’ or ‘Very Good’ rating in three of the last five MOUs.

o Must score 60 or more based on six parameters: Net Profit to Net Worth – 25% → Manpower Cost to Cost of Production/Services – 15% → PBDIT to Capital Employed – 15% → PBDIT to Turnover – 15% → Earnings Per Share (EPS) – 10% → Inter-Sectoral Performance – 20%.

• Miniratna Status Criteria:

o Miniratna Category-I: Profitable for three consecutive years, pre-tax profit of ₹30 crore or more in at least one of these years, must have a positive net worth.

o Miniratna Category-II: Profitable for three consecutive years, must have a positive net worth.