New Delhi: Hindustan Aeronautics Limited (HAL) has been granted the prestigious status of Maharatna Central Public Sector Enterprise (CPSE), following an announcement from the Department of Public Enterprises on October 12. The decision was approved by Finance Minister Nirmala Sitharaman after receiving recommendations from two key committees—the Inter-Ministerial Committee headed by the Finance Secretary and the Apex Committee led by the Cabinet Secretary.

This elevation makes HAL the 14th company to receive Maharatna status, joining the ranks of major public sector companies such as ONGC, BHEL, and Indian Oil. As part of the Department of Defence Production, HAL achieved a turnover of Rs 28,162 crore and a net profit of Rs 7,595 crore in the financial year 2023-24. With the new Maharatna designation, HAL gains greater operational and financial autonomy, including the ability to invest up to 15% of its net worth in projects and up to Rs 5,000 crore in foreign ventures without needing government approval.

This status provides HAL with increased flexibility for mergers, acquisitions, and other capital expenditures, removing many of the limitations previously in place for companies with lower classifications. To be eligible for Maharatna status, a public sector enterprise must meet specific financial benchmarks, including an average turnover of more than Rs 25,000 crore, an average net worth exceeding Rs 15,000 crore, and an average net profit of at least Rs 5,000 crore over the past three years.

HAL now stands among the top-tier public sector enterprises, positioning itself for a larger role in India's industrial and economic development. 

BI Bureau