Hindustan Aeronautics Limited (HAL) has been upgraded to the level of Maharatna, becoming the 14th Central Public Sector Enterprise (CPSE) to obtain this distinguished designation from the Government of India

Description

Hindustan Aeronautics Limited (HAL) has been upgraded to the level of Maharatna, becoming the 14th Central Public Sector Enterprise (CPSE) to obtain this distinguished designation from the Government of India. HAL can now invest up to 15% of its net value in projects and Rupees 5,000 crore in international enterprises without government approval, according to a recent declaration (October 12). The stock price rose by 1.42% to Rupees 4,510.

Key Details About HAL's Maharatna Status

• Finance Minister Nirmala Sitharaman accepted the upgrading based on recommendations from the Inter-Ministerial Committee and the Apex Committee. 

• To achieve Maharatna status, HAL had to show an average annual turnover of over Rupees 25,000 crore, a net worth of over Rupees 15,000 crore, and a net profit of over Rupees 5,000 crore in the previous three years.

• Current Maharatna Companies- HAL joins the ranks of other Maharatna PSUs, like NTPC, ONGC, BHEL, and Indian Oil Corporation, which have achieved significant operational success.

Criteria For Maharatna Status

To qualify for Maharatna rank, CPSEs must first achieve Navratna status and meet severe financial conditions, including-

• Average annual turnover exceeds Rupees 25,000 crore.

• Average Annual Net Worth: Over Rupees 15,000 crore.

• For the last three years, the average annual net profit has exceeded Rupees 5,000 crore.

Financial Highlights

In the first quarter of FY25, HAL recorded a 76.5% increase in net profit, hitting Rupees 1,437.2 crore from Rupees 814.2 crore in the same period last year. Revenue also increased 11% year on year, suggesting strong financial health.

The Maharatna Advantage

HAL's Maharatna classification not only grants it greater decision-making autonomy, but also lets it to participate in mergers, acquisitions, and strategic investments without previous government clearance. This designation is critical for boosting HAL's global competitiveness and ability to undertake important defense projects.

Maharatna Companies In India As Of 2024

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