NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / Oil India gets Maharatna tag, ONGC Videsh upgraded to Navaratna
    Next Article
    Oil India gets Maharatna tag, ONGC Videsh upgraded to Navaratna
    Oil India is the 13th Maharatna in India

    Oil India gets Maharatna tag, ONGC Videsh upgraded to Navaratna

    By Athik Saleh
    Aug 04, 2023
    06:27 pm

    What's the story

    Oil India has achieved Maharatna status, while ONGC Videsh is now a Navratna company.

    This grants Oil India's board increased financial decision-making powers and gives ONGC Videsh more financial and operational autonomy.

    Oil India is the 13th Central Public Sector Enterprise (CPSE) to be awarded the Maharatna tag. Meanwhile, ONGC Videsh is the 15th Navaratna company in the country.

    Details

    How does a company gain Maharatna status?

    For a company to get Maharatna status, it should fulfill as many as six conditions, including having an average annual turnover of over Rs. 25,000 crore during the last three years.

    Oil India recorded a net profit of Rs. 9,854 crore for the year 2022-2023, while ONGC Vidhesh's net profit during the same time was Rs. 1,700 crore.

    What Next?

    Maharatna and Navaratna statuses offer enhanced powers

    The main difference between the two statuses is the benefits they offer.

    Maharatna companies can incur capital expenditure without any monetary ceiling, while Navratna companies can invest up to Rs. 1,000 crore or 15% of their net worth on a single project without government approval.

    Oil India and ONGC Videsh operate under the Ministry of Petroleum and Natural Gas.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Oil India Limited

    Latest

    'Sirens,' 'Nine Perfect Strangers': Your OTT watchlist this week Nicole Kidman
    'Fear Street: Prom Queen': Cast, plot, release details OTT releases
    IPL 2025, LSG vs SRH: How the Impact Players faredĀ  Sunrisers Hyderabad (SRH)
    Microsoft employee disrupts Nadella's keynote: What's behind the protest? Satya Nadella

    Oil India Limited

    Bharat Petroleum to raise $500 million through bonds BPCL
    Oil India sets up Rs.50 crore start-up fund India
    These Indian stocks are going strong despite global market turmoil Bharti Airtel
    Petrol prices rise for 16th straight day Trinamool Congress
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025