Raksha Mantri Rajnath Singh has approved the grant of Miniratna (Category-I) status to Yantra India Limited (YIL), marking a key step in the company’s transition from a government organisation to a profit-making corporate entity over about four years. The ministry said the decision followed an assessment of improvements in turnover, indigenisation and other performance parameters required for the status. The grant is presented as recognition of management initiatives that drove financial and operational transformation.

Since its inception YIL has recorded substantial growth in sales, rising from Rs 9,563.2 mn in 2021-22 (H2) to Rs 31,087.9 mn in FY 2024-25, while exports climbed from nil in 2021-22 (H2) to Rs 3,217.7 mn in FY 2024-25. The company’s product range includes carbon fibre composites, glass composites, aluminium alloys and assembly products for medium and large calibre ammunition, armoured vehicles, artillery guns and main battle tanks. Management statements cited accelerated indigenisation and targeted market initiatives as drivers of the revenue and export gains.

Miniratna (Category-I) status empowers the board of YIL to undertake capital expenditure for new projects, modernisation and equipment purchase up to Rs 5,000 mn without seeking government approval, which is expected to speed decision making and investment cycles. The enhanced financial autonomy is intended to support an accelerated growth trajectory and to expand defence production and exports. Officials framed the change as enabling quicker adaptation to technological and market demands.

The government corporatised the erstwhile Ordnance Factory Board into seven new Defence Public Sector Undertakings (DPSUs) on 01 October 2021 to boost autonomy, efficiency and innovation in defence manufacturing. YIL is one of the Schedule A DPSUs under the administrative control of the Department of Defence Production, and it follows earlier Miniratna approvals granted in May 2025 to three of the seven new entities. The decision was set out as consistent with the broader vision of Aatmanirbhar Bharat to reduce import dependence, promote domestic industrial participation and position India as a global defence manufacturing hub.