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Miniratnas are those small to mid sized public sector enterprises that are making good profits and have started building a reputation. Because of the sheer number of companies that come under this grouping, the government has gone a step further to classify companies as Miniratna Category 1 and Miniratna Category 2.
1. Category I companies should have made profit in the last three years continuously, the pre-tax profit should have been Rs. 30 crore or more in at least one of the three years and should have a positive net worth.
2. Category II companies should have made profit for the last three years continuously and should have a positive net worth.
In addition - These companies should not have defaulted in the repayment of loans/interest payment on any loans due to the Government. Also, these public sector enterprises shall not depend upon budgetary support or Government guarantee for their functioning.
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List of all miniratna PSUs as on today?
There are numerous Miniratna PSUs in India. There are 53 Category 1 Miniratnas and 16 Miniratna Category 2 PSUs as on date. The list is pretty long, so check out the related link for the full list.
How many numbers of miniratna are there in India at present?
There are numerous Miniratna PSUs in India. There are 53 Category 1 Miniratnas and 16 Miniratna Category 2 PSUs as on date. The list is pretty long, so check out the related link for the full list.
What is the meaning of mini ratna psu?
Government has created another category for PSU ie. Miniratna. Miniratna can set subsidiary company, overseas offices and can enter into joint ventures but with certain conditions. There are two type of Miniratnas: Category I PSEs which have made profits in three consecutive years and earned net profit of rs. 30 crore or more in one of the three years falls in this category. These miniratna can incur capital expenditure upto Rs. 500 Cr. or equal to their net worth whichever is less without govt. approval. Category II This category includes PSEs which have made profits in three consecutive years and have positive networth. These companies can incur capital expenditure of rs. 300 cr. or equal to 50% of their networth whichever is less without the Govt. Approval.
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The Basic difference between a Category I & Category II Mini Ratna Company is that a category II mini ratna company can make a capital expenditure of Rs 250 crore or 50% of the net worth, whichever is less, without seeking the permission of the government. On the contrary, the board of category I mini ratna company can make a capital expenditure of Rs 500 crore or 100% of its net worth, whichever is less, on its own." Similarly, the board of a category I mini ratna company can take an independent decision to invest Rs 500 crore in joint ventures and subsidiaries. For category II mini ratnas, the investment limit has been capped at Rs 250 crore.
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