Oil India upgrades to Maharatna, ONGC Videsh to Navratna

07 Aug 2023 CW Team

The central government has elevated Oil India (OIL), a central public sector enterprise (CPSE) in the petroleum sector, to the status of Maharatna, resulting in a total of 13 Maharatna companies.

This transition grants the OIL Board increased authority in making financial decisions. OIL boasts an annual turnover of Rs 410.39 billion and a net profit of Rs 98.54 billion.

The existing roster of 12 Maharatna CPSEs includes REC, Power Finance Corporation, Bharat Heavy Electricals, Bharat Petroleum Corp, Coal India, GAIL (India), Hindustan Petroleum Corp, Indian Oil Corp, NTPC, Oil & Natural Gas Corp, Power Grid Corp of India, and Steel Authority of India.

For a company to attain Maharatna status, it must be listed on an Indian stock exchange and maintain an average annual turnover exceeding Rs 250 billion over the preceding three years.

In addition, the government has promoted ONGC Videsh (OVL) to the rank of Navratna, adding to the count of Navratnas, which now totals 14.

OVL has achieved an annual turnover of Rs 116.76 billion and a net profit of Rs 17 billion during the fiscal year 2022-23. India's CPSE landscape now comprises 13 Maharatna, 14 Navratna, and 74 Miniratna companies.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..