Maharatna Companies in India – List of Maharatna Stocks

The table shows the Best Maharatna Companies in India based on market capitalization and 1Y return.

Name	Market Cap (Cr)	Close Price (rs)	1Y Return (%)
NTPC Ltd	361200.81	372.50	50.63
Oil and Natural Gas Corporation Ltd	315513.40	250.80	25.71
Power Grid Corporation of India Ltd	290271.85	312.10	48.51
Coal India Ltd	252517.79	409.75	16.87
Indian Oil Corporation Ltd	190297.81	134.76	32.51
Power Finance Corporation Ltd	150055.63	454.70	46.49
REC Limited	132280.01	502.35	50.47
Bharat Petroleum Corporation Ltd	129374.23	298.20	51.93
Gail (India) Ltd	124197.06	188.89	48.91
Hindustan Petroleum Corp Ltd	79240.11	372.40	78.13

Introduction To Maharatna Stocks

NTPC Ltd

Established in India, NTPC Limited is a prominent power-generating company primarily involved in generating and selling bulk electricity to state power utilities. The company operates 89 power stations across various Indian states through its own facilities, joint ventures, and subsidiaries, making it a key player in the country’s power sector.

Market Cap: ₹361,200.81 Cr

Current Share Price: ₹372.51

Returns: 1Y (50.63%), 1M (-12.41%), 6M (3.09%)

5Y Average Net Profit Margin: 11.03%

Dividend Yield: 2.08%

5Y CAGR: 25.73%

Sector: Power Generation

Oil and Natural Gas Corporation Ltd

ONGC is India’s largest crude oil and natural gas company, engaged in the exploration, production, and marketing of petroleum products. The company’s operations span both onshore and offshore locations in India and international territories, with a diverse portfolio including oil and gas exploration, refining, petrochemicals, and related services.

Market Cap: ₹315,513.40 Cr

Current Share Price: ₹250.80

Returns: 1Y (25.71%), 1M (-11.77%), 6M (-8.28%)

5Y Average Net Profit Margin: 6.15%

Dividend Yield: 4.88%

5Y CAGR: 12.99%

Sector: Oil & Gas – Exploration & Production

Power Grid Corporation of India Ltd

Power Grid Corporation of India Limited is a leading power transmission company engaged in the planning, implementation, operation, and maintenance of Inter-State Transmission Systems (ISTS). The company provides critical infrastructure for electricity transmission across different states of India, including extra high voltage/high voltage networks and smart grid technologies.

Market Cap: ₹290,271.85 Cr

Current Share Price: ₹312.10

Returns: 1Y (48.51%), 1M (-5.89%), 6M (-0.87%)

5Y Average Net Profit Margin: 31.67%

Dividend Yield: 3.60%

5Y CAGR: 24.17%

Sector: Power Transmission & Distribution

Coal India Ltd

Coal India Limited is India’s premier coal mining company operating across 83 mining areas spread over eight states. The company manages 322 mines, including 138 underground, 171 opencast, and 13 mixed mines, playing a crucial role in India’s energy infrastructure and coal production ecosystem.

Market Cap: ₹252,517.79 Cr

Current Share Price: ₹409.75

Returns: 1Y (16.87%), 1M (-17.77%), 6M (-12.42%)

5Y Average Net Profit Margin: 18.38%

Dividend Yield: 6.22%

5Y CAGR: 15.16%

Sector: Mining – Coal

Indian Oil Corporation Ltd

Indian Oil Corporation Limited is a leading oil company with business interests spanning the entire hydrocarbon value chain. The company operates approximately nine refineries across India, with an extensive network of fuel stations, storage terminals, and operations in refining, pipeline transportation, marketing, and alternative energy sources.

Market Cap: ₹190,297.81 Cr

Current Share Price: ₹134.76

Returns: 1Y (32.51%), 1M (-19.71%), 6M (-16.71%)

5Y Average Net Profit Margin: 3.26%

Dividend Yield: 8.68%

5Y CAGR: 8.11%

Sector: Oil & Gas – Refining & Marketing

Power Finance Corporation Ltd

Power Finance Corporation Limited is a specialized non-banking financial company primarily focused on providing financial assistance to the power sector. The company offers a comprehensive range of fund-based and non-fund-based products including project term loans, lease financing, consultancy, and advisory services across the power infrastructure ecosystem.

Market Cap: ₹150,055.63 Cr

Current Share Price: ₹454.70

Returns: 1Y (46.49%), 1M (-4.65%), 6M (4.16%)

5Y Average Net Profit Margin: 17.64%

Dividend Yield: 2.97%

5Y CAGR: 38.41%

Sector: Specialized Finance

REC Limited

REC Limited is an infrastructure finance company specializing in lending to the power, logistics, and infrastructure sectors. The company provides a wide range of financial products including long-term loans, debt refinancing, and equity financing to state electricity boards, power utilities, and private sector entities.

Market Cap: ₹132,280.01 Cr

Current Share Price: ₹502.35

Returns: 1Y (50.47%), 1M (-7.73%), 6M (-4.98%)

5Y Average Net Profit Margin: 24.72%

Dividend Yield: 3.19%

5Y CAGR: 37.73%

Sector: Specialized Finance

Bharat Petroleum Corporation Ltd

Bharat Petroleum Corporation Limited is a comprehensive petroleum products company engaged in production, refining, and distribution. The company operates multiple refineries, provides fuel services, manages gas distribution, and offers a range of lubricants and energy solutions across various industrial and commercial segments.

Market Cap: ₹129,374.23 Cr

Current Share Price: ₹298.20

Returns: 1Y (51.93%), 1M (-13.38%), 6M (-4.58%)

5Y Average Net Profit Margin: 3.52%

Dividend Yield: 6.94%

5Y CAGR: 3.00%

Sector: Oil & Gas – Refining & Marketing

Gail (India) Ltd

GAIL (India) Limited is a leading natural gas processing and distribution company with extensive operations in transmission services, gas marketing, and petrochemicals. The company operates approximately 14,500 kilometers of natural gas pipelines and is expanding its presence in renewable energy sectors like solar, wind, and biofuels.

Market Cap: ₹124,197.06 Cr

Current Share Price: ₹188.89

Returns: 1Y (48.91%), 1M (-17.85%), 6M (-5.91%)

5Y Average Net Profit Margin: 9.28%

Dividend Yield: 2.91%

5Y CAGR: 18.39%

Sector: Gas Distribution

Hindustan Petroleum Corp Ltd

Hindustan Petroleum Corporation Limited is a diversified energy company involved in crude oil refining, petroleum product marketing, and hydrocarbon exploration. The company operates refineries, retail fuel networks, and LPG distribution, and is expanding into natural gas, petrochemicals, and renewable energy segments.

Market Cap: ₹79,240.11 Cr

Current Share Price: ₹372.40

Returns: 1Y (78.13%), 1M (-10.20%), 6M (10.24%)

5Y Average Net Profit Margin: 1.93%

Dividend Yield: 5.64%

5Y CAGR: 14.12%

Sector: Oil & Gas – Refining & Marketing

What Is a Maharatna Company?

A Maharatna Company is a government-owned enterprise in India recognized for its exceptional financial performance and significant contribution to the economy. These companies operate in critical sectors, enjoy extensive operational autonomy, and are pivotal in supporting India’s industrial and economic growth.

Maharatna companies are selected based on criteria like consistent profitability, net worth, and revenue. They operate in industries such as energy, mining, and steel, and are granted autonomy to make substantial investments in projects without requiring government approval.

This status allows these companies to compete globally, driving innovation and efficiency. Their robust performance and strategic importance make them attractive for investors seeking exposure to India’s core economic sectors and long-term wealth creation.

Features Of Maharatna Companies in India 

The main features of Maharatna companies in India include significant financial strength, operational autonomy for large-scale investments, and a critical role in core sectors like energy and infrastructure. These companies are government-backed and contribute substantially to national economic growth and global competitiveness.

• Financial Strength: Maharatna companies demonstrate robust financial performance with consistent profitability, high net worth, and substantial revenue, making them industry leaders and pillars of India’s economic growth.

• Operational Autonomy: These companies enjoy autonomy to invest up to ₹5,000 Crores in large-scale projects without government approval, enabling faster decision-making and execution.

• Sectoral Importance: Operating in critical sectors like energy, mining, and infrastructure, Maharatna companies contribute significantly to industrial development and GDP growth.

• Government Backing: Strong government support ensures stability, reducing risks associated with economic downturns and market fluctuations, making them reliable investment options.

• Global Competitiveness: Maharatna status allows companies to compete globally, driving innovation, efficiency, and international market expansion, enhancing their strategic importance.

List of Maharatna Companies in India Based On 6 Month Return

The table shows the Best Maharatna Companies in India Based On 6 Month Return.

Name	Close Price (rs)	6M Return (%)
Hindustan Petroleum Corp Ltd	372.40	10.24
Power Finance Corporation Ltd	454.70	4.16
NTPC Ltd	372.50	3.09
Power Grid Corporation of India Ltd	312.10	-0.87
Bharat Petroleum Corporation Ltd	298.20	-4.58
REC Limited	502.35	-4.98
Gail (India) Ltd	188.89	-5.91
Oil and Natural Gas Corporation Ltd	250.80	-8.28
Coal India Ltd	409.75	-12.42
Indian Oil Corporation Ltd	134.76	-16.71

Maharatna Companies in India Based On 5 Year Net Profit Margin

The table shows the Best Maharatna Companies in India Based On 5 Year Net Profit Margin.

Name	5Y Avg Net Profit Margin %	Close Price (rs)
Power Grid Corporation of India Ltd	31.67	312.10
REC Limited	24.72	502.35
Coal India Ltd	18.38	409.75
Power Finance Corporation Ltd	17.64	454.70
NTPC Ltd	11.03	372.50
Gail (India) Ltd	9.28	188.89
Oil and Natural Gas Corporation Ltd	6.15	250.80
Bharat Petroleum Corporation Ltd	3.52	298.20
Indian Oil Corporation Ltd	3.26	134.76
Hindustan Petroleum Corp Ltd	1.93	372.40

Maharatna Stocks To Buy Based On 1M Return

The table shows the Best Maharatna Stocks To Buy Based On a 1M Return.

Name	Close Price (rs)	1M Return (%)
Power Finance Corporation Ltd	454.70	-4.65
Power Grid Corporation of India Ltd	312.10	-5.89
REC Limited	502.35	-7.73
Hindustan Petroleum Corp Ltd	372.40	-10.20
Oil and Natural Gas Corporation Ltd	250.80	-11.77
NTPC Ltd	372.50	-12.41
Bharat Petroleum Corporation Ltd	298.20	-13.38
Coal India Ltd	409.75	-17.77
Gail (India) Ltd	188.89	-17.85
Indian Oil Corporation Ltd	134.76	-19.71

High Dividend Yield Maharatna Companies in India 

The table shows the Best Maharatna Companies in India based on High Dividend Yield.

Name	Close Price (rs)	Dividend Yield
Indian Oil Corporation Ltd	134.76	8.68
Bharat Petroleum Corporation Ltd	298.20	6.94
Coal India Ltd	409.75	6.22
Hindustan Petroleum Corp Ltd	372.40	5.64
Oil and Natural Gas Corporation Ltd	250.80	4.88
Power Grid Corporation of India Ltd	312.10	3.60
REC Limited	502.35	3.19
Power Finance Corporation Ltd	454.70	2.97
Gail (India) Ltd	188.89	2.91
NTPC Ltd	372.50	2.08

Historical Performance Of Maharatna Stocks

The table shows the Best Maharatna Stocks based on 5Y return and market capitalization.

Name	Market Cap (Cr)	Close Price (rs)	5Y CAGR %
Power Finance Corporation Ltd	150055.63	454.70	38.41
REC Limited	132280.01	502.35	37.73
NTPC Ltd	361200.81	372.50	25.73
Power Grid Corporation of India Ltd	290271.85	312.10	24.17
Gail (India) Ltd	124197.06	188.89	18.39
Coal India Ltd	252517.79	409.75	15.16
Hindustan Petroleum Corp Ltd	79240.11	372.40	14.12
Oil and Natural Gas Corporation Ltd	315513.40	250.80	12.99
Indian Oil Corporation Ltd	190297.81	134.76	8.11
Bharat Petroleum Corporation Ltd	129374.23	298.20	2.99

Factors To Consider When Investing In Maharatna Companies in India

The main factors to consider when investing in Maharatna companies in India include financial performance, sectoral growth potential, government policies, and dividend history. Evaluating company fundamentals, market dynamics, and long-term stability helps ensure informed decisions and optimized investment outcomes.

• Financial Performance: Assess revenue, profitability, and return on equity to ensure the company has a strong financial foundation and consistent growth, crucial for long-term investments.

• Sectoral Growth Potential: Evaluate the growth prospects of sectors like energy, mining, and infrastructure, where Maharatna companies primarily operate, to identify future profitability trends.

• Government Policies: Monitor policy changes, subsidies, and government spending that can significantly influence Maharatna companies’ performance and growth potential in core industries.

• Dividend History: Review past dividend payouts to understand the company’s commitment to rewarding shareholders and ensure a steady income stream from investments.

• Long-Term Stability: Consider the company’s operational resilience, market leadership, and strategic importance in contributing to India’s economy, ensuring sustained performance even in challenging economic conditions.

How To Invest In Maharatna Stocks?

Begin your Maharatna stocks investment journey by opening a trading account with Alice Blue. Research prominent Maharatna companies like ONGC, Coal India, and NTPC. Analyze their financial statements, market position, dividend history, and future growth prospects before making investment decisions.

Consider a systematic investment approach by understanding their business models and competitive advantages. These government-backed companies often provide stable returns due to their market dominance and strategic importance in India’s economy.

Monitor quarterly results, industry trends, and government policies affecting these enterprises. Create a diversified portfolio by investing across different Maharatna companies, considering factors like sectoral outlook and valuation metrics for optimal returns.

Impact Of Government Policies On Maharatna Stocks

Government policies significantly influence Maharatna stocks, given their critical role in India’s economic development. Policies promoting infrastructure, energy, and industrial growth directly enhance their profitability and growth potential, benefiting long-term investors.

Conversely, restrictive regulations, such as reduced government spending or changes in subsidy structures, can negatively impact these companies. Investors must track policy announcements to understand how they may affect Maharatna companies’ performance and sector dynamics.

How Maharatna Companies in India Perform In Economic Downturns?

Maharatna companies often display resilience during economic downturns due to their strong fundamentals and government backing. Their presence in essential sectors like energy and steel ensures stable demand even in challenging times.

However, reduced economic activity may lower profitability, particularly in capital-intensive projects. Diversified operations and robust governance enable these companies to navigate downturns better than their private counterparts, maintaining investor confidence.

Advantages Of Investing In Maharatna Companies in India

The main advantages of investing in Maharatna companies in India include stable returns backed by government ownership, attractive dividends, and exposure to critical sectors. Their financial resilience and strategic importance make them reliable options for long-term investors seeking growth and stability.

• Government Backing: Maharatna companies benefit from strong government ownership, ensuring financial stability and lower risk compared to private-sector counterparts, especially during economic downturns.

• Attractive Dividends: These companies offer consistent dividend payouts, making them appealing for income-focused investors seeking steady returns alongside capital appreciation.

• Exposure to Core Sectors: Investing in Maharatna companies provides exposure to critical industries like energy, mining, and infrastructure, ensuring long-term growth potential aligned with India’s economic development.

• Long-Term Stability: Their strategic importance and robust financials make Maharatna companies reliable for wealth creation, even in volatile market conditions.

• Global Competitiveness: Maharatna status enhances operational autonomy, enabling these companies to innovate, expand globally, and contribute significantly to national and international markets.

Risks Of Investing In Maharatna Stocks

The main risks of investing in Maharatna stocks include dependency on government policies, sector-specific challenges, and limited flexibility compared to private companies. Regulatory changes or reduced government spending can impact profitability, requiring careful assessment of market conditions and long-term growth prospects.

• Dependency on Government Policies: Maharatna companies rely heavily on government decisions, and policy changes or reduced spending can directly affect their profitability and growth prospects.

• Sector-Specific Challenges: Operating in core sectors like energy and mining exposes these companies to risks from fluctuating commodity prices, demand changes, and industry-specific disruptions.

• Limited Flexibility: As public-sector entities, Maharatna companies often face bureaucratic hurdles and slower decision-making processes, impacting their competitiveness against private-sector counterparts.

• Regulatory Risks: Changes in regulations, environmental compliance, or taxation policies can increase costs and reduce operational efficiency for Maharatna companies.

• Market Volatility: While generally stable, these stocks can be affected by economic downturns or global market trends, requiring careful monitoring and strategic investment planning.

Maharatna Stocks GDP Contribution

Maharatna companies significantly contribute to India’s GDP by driving industrial output, employment, and infrastructure development. Their operations in critical sectors like energy, mining, and manufacturing make them integral to the country’s economic growth.

Their investments in large-scale projects and exports strengthen national productivity, enhancing GDP contributions while supporting long-term economic sustainability. These companies play a pivotal role in nation-building efforts.

Difference Between Maharatna and Navratna companies?

The main difference between Maharatna and Navratna companies lies in their financial autonomy and scale. Maharatna companies have higher investment limits (up to ₹5,000 crores) and operate on a larger scale, while Navratna companies have relatively lower autonomy and smaller operations.

Aspect	Maharatna Companies	Navratna Companies
Scale of Operations	Operate on a larger scale with significant contributions to GDP	Operate on a smaller scale compared to Maharatna companies
Investment Autonomy	Can invest up to ₹5,000 crores without government approval	Can invest up to ₹1,000 crores without government approval
Selection Criteria	Higher net worth, profitability, and operational scale	Moderate financial performance and operational scale
Number of Companies	Fewer companies with stricter eligibility criteria	Larger number of companies with broader eligibility
Sectors	Operate in critical sectors like energy, mining, and infrastructure	Similar sectors but with less extensive operations
Government Oversight	Lower oversight due to higher operational autonomy	Higher government oversight and control over operations
Global Competitiveness	More resources and autonomy for international expansion	Limited autonomy, focusing more on domestic markets

Who Should Invest In Maharatna Companies in India?

Maharatna companies are suitable for long-term investors seeking stable returns and exposure to critical sectors. Their government backing and consistent dividends appeal to conservative investors prioritizing safety and growth.

Experienced investors can leverage their steady performance to diversify portfolios, while first-time investors can benefit from their reduced risk profile compared to private-sector companies.

Maharatna Stocks Listed Companies – Faqs  

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Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.