Oil India subsidiary Numaligarh Refinery Limited (NRL) is now a Navratna PSU

New Delhi: State-run Numaligarh Refinery Limited (NRL), a subsidiary of Oil India Limited (OIL), has been officially granted "Navratna" status by the Department of Public Enterprises (DPE), Ministry of Finance, said a regulatory filing by OIL on Wednesday. The filing stated, "We would like to inform that Numaligarh Refinery Limited, our Material Subsidiary, has been granted 'Navratna' status by Department of Public Enterprises, Ministry of Finance, Govt. of India".​

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What is Navratna status?

The "Navratna" status is a recognition accorded to Central Public Sector Enterprises (CPSEs) that enables them greater autonomy in operational and financial matters compared to other CPSEs. This status is granted by the government to PSUs that demonstrate significant financial performance, operational efficiency, and contribute to the national economy. Navratna CPSEs have enhanced powers to make investments and enter joint ventures without requiring government approval up to specified limits.

Eligibility criteria for Navratna status

To be eligible for Navratna status, a CPSE must score at least 60 out of 100 based on criteria including financial performance, net profit, net worth, total cost of production, cost of services, capital employed, and other factors such as global presence, technology absorption, and human resource development. This status is designed to foster competitiveness and autonomy for select enterprises pushing them towards global benchmarks.

By awarding NRL this coveted status, the government acknowledges its promising performance and strategic role within the sector, empowering it with greater autonomy to execute ambitious growth and modernisation plans.

This recognition is a significant milestone for NRL, enhancing its capabilities and providing a platform for further expansion and operational freedom in the competitive energy sector.

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