New Delhi: The Ministry of Steel has approved the grant of Miniratna Category-I status to MECON Limited, a Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Steel. MECON has achieved significant financial milestones in recent years.
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The company has reported continuous profits during the last three financial years, recording a Profit Before Tax (PBT) of Rs 77.62 crore in FY 2023-24 (restated), Rs 32.08 crore in FY 2024-25 (restated), and Rs 104.53 crore in FY 2025-26.
The company also reported a positive net worth of Rs 535.42 crore as on March 31, thereby fulfilling the eligibility criteria prescribed by the Department of Public Enterprises (DPE) for grant of Miniratna Category-I status.
The Miniratna Category-I status provides enhanced financial and operational autonomy to the Board of MECON Limited. The enhanced delegation of powers will enable the Company to undertake investments, modernization initiatives, technological upgradation and business expansion projects with greater flexibility and speed, thereby supporting its future growth trajectory.
MECON Limited, established in 1959 and headquartered in Ranchi, is one of India's premier engineering, consultancy, project management and contracting organisations. The company has made significant contributions to the development of the country's steel sector and has diversified its operations across mining, infrastructure, power, oil & gas and other core sectors of the economy.
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The decision underscores the Government's continued commitment to empowering high-performing CPSEs through enhanced autonomy and operational flexibility. It is in line with the broader objective of strengthening public sector enterprises, improving their efficiency and competitiveness, and enabling them to play a greater role in India's economic growth and infrastructure development.
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