Shares of Hindustan Aeronautics Limited (HAL) gained attention on Monday, October 14, as the government upgraded the company to Maharatna status, making it the 14th Central Public Sector Enterprise (CPSE) to achieve this recognition. The Department of Public Enterprises announced the decision on social media platform X, citing that the upgrade had been approved by the Finance Minister and recommended by key committees.
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With this new status, HAL will gain enhanced operational autonomy and financial powers. It can now invest up to 15% of its net worth in projects and make foreign investments up to ₹5,000 crore without needing government approval, according to a report by ANI. This move positions HAL for future growth with promising projects ahead.
The 13 other companies holding Maharatna status include NTPC, ONGC, SAIL, BHEL, IOCL, HPCL, Coal India, GAIL, BPCL, Power Grid, Power Finance Corporation, Rural Electrification Corporation, and Oil India. These CPSEs are recognized for their significant contributions to India’s economy and have considerable operational and financial autonomy.
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To qualify for Maharatna status, a CPSE must already have Navratna status and be publicly listed. They must also meet financial benchmarks such as an average turnover exceeding ₹25,000 crore, net worth over ₹15,000 crore, and net profit after tax above ₹5,000 crore over the last three years.
Maharatna companies enjoy greater freedom in pursuing mergers, acquisitions, and international investments, enabling them to grow and become global leaders.
