Miniratna Status

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    In News

    • Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE) 

    About SECI 

    • It was incorporated in the year 2011.
    • It is the primary implementing agency of the Ministry of New and Renewable Energy for Renewable Energy schemes/projects towards fulfillment of India’s international commitments. 
    • It enjoys the highest credit rating of AAA by ICRA.
    • It  has played a Central role in the rapid increase of RE generation capacity in the country and has contributed towards the nation’s climate commitments, carbon emission reduction strategies and sustainable energy transition.

    Criteria for grant of Miniratna status to CPSEs

    • The miniratna scheme was initiated in the year 1997. 
    •  Miniratna Category-I status: – The CPSEs which have made a profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
    • Miniratna Category-II status: – The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
      • Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
      • Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.

    Benefits 

    • The Government of India has provided more autonomy and delegation of financial powers to the mini Ratna enterprises to make them efficient and competitive

    Additional Information 

    • Criteria for grant of Maharatna status to CPSEs
      • Having Navratna status
      • Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
      • An average annual turnover of more than Rs. 25,000 crore during the last 3 years
      • An average annual net worth of more than Rs. 15,000 crore during the last 3 years
      • An average annual net profit after tax of more than Rs. 5,000 crores during the last 3 years
      • Should have significant global presence/international operations.

    Criteria for grant of Navratna status to CPSEs

    • The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU ratings in three of the last five years and have composite scores of 60 or above in the following six selected performance indicators are eligible to be considered for grant of Navratna status.
      • Net Profit to Net worth                                                          
      • Manpower Cost to total Cost of Production or                      
      • Cost of Services
      • PBDIT to Capital employed                                                 
      • PBIT to Turnover                                                                   
      •  Earning Per Share                                                                   
      • Inter Sectoral Performance  

    Source: PIB