<p>As per the new guidelines issued by the Department of Public Enterprises (DPE), a company qualifying for the Maharatna status should have an average annual turnover of more than Rs 20,000 crore in the last three years, as against Rs 25,000 crore prescribed earlier.<br /><br />Besides, a company with an average annual networth of over Rs 10,000 crore and net profit of over Rs 2,500 crore, during the last three years, will qualify for the status.<br /><br />Earlier, companies required average annual net worth of over Rs 15,000 crore and net profit of more than Rs 5,000 crore for three consecutive years to be eligible.<br /><br />"The criteria for grant of Maharatna status to CPSEs has been re-examined in the context of representations received from various administrative ministries/departments and the need to suitably empower mega Navratna CPSEs so that they can effectively face the challenges of competition, both domestic and foreign and further expand their operations," a DPE memorandum said.<br /><br />A Maharatna PSU can invest up to Rs 5,000 crore in a joint venture project or wholly owned subsidiary without seeking government approval, while the limit for Navratna companies is Rs 1,000 crore.<br /><br />The government had announced the Maharatna scheme in December 2009 to give more operational freedom to the top-performing PSUs.<br /><br />At present, there are four Maharatna companies -- ONGC, Indian Oil, SAIL and NTPC and 15 Navratna companies, including CIL, BHEL, NMDC and GAIL.</p>
<p>As per the new guidelines issued by the Department of Public Enterprises (DPE), a company qualifying for the Maharatna status should have an average annual turnover of more than Rs 20,000 crore in the last three years, as against Rs 25,000 crore prescribed earlier.<br /><br />Besides, a company with an average annual networth of over Rs 10,000 crore and net profit of over Rs 2,500 crore, during the last three years, will qualify for the status.<br /><br />Earlier, companies required average annual net worth of over Rs 15,000 crore and net profit of more than Rs 5,000 crore for three consecutive years to be eligible.<br /><br />"The criteria for grant of Maharatna status to CPSEs has been re-examined in the context of representations received from various administrative ministries/departments and the need to suitably empower mega Navratna CPSEs so that they can effectively face the challenges of competition, both domestic and foreign and further expand their operations," a DPE memorandum said.<br /><br />A Maharatna PSU can invest up to Rs 5,000 crore in a joint venture project or wholly owned subsidiary without seeking government approval, while the limit for Navratna companies is Rs 1,000 crore.<br /><br />The government had announced the Maharatna scheme in December 2009 to give more operational freedom to the top-performing PSUs.<br /><br />At present, there are four Maharatna companies -- ONGC, Indian Oil, SAIL and NTPC and 15 Navratna companies, including CIL, BHEL, NMDC and GAIL.</p>