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SOLAR ENERGY CORPORATION OF INDIA GETS 'MINIRATNA CATEGORY-I' STATUS

13th April, 2023

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Context

  • Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE).

About SECI

  • Incorporated in the year 2011, SECI is the primary implementing agency of the Ministry of New and Renewable Energy, Govt. of India for Renewable Energy schemes/projects towards fulfillment of India's international commitments.
  • Till date, SECI has awarded Renewable Energy (RE) project capacities of over 56 GW.
  • SECI is also active in setting up of projects through its own investments as well as for other public sector entities as Project Management Consultant (PMC).
  • SECI enjoys highest credit rating of AAA by ICRA.
  • It is the only CPSU dedicated to the renewable energy sector.
  • It was originally incorporated as a section-25 (not for profit) company under the Companies Act, 1956. However, through an amendment by Government of India, the company has been converted into a Section-3 company, in 2015, under the Companies Act, 2013. 
  • The mandate of the company has also been broadened to cover the entire renewable energy domain.
  • The company also has a Category 1 power trading license and is active in this domain through trading of solar powerfrom projects set up under the schemes being implemented by it.

Vision

  • To build ‘Green India’ through harnessing abundant solar radiation and to achieve energy security for the country.

Mission

  • To become the leader in development of large scale solar installations, solar plants and solar parks and to promote and commercialize the use of solar energy to reach remotest corner of India.
  • To become leader in exploring new technologies and their deployment to harness solar energy.

About Ratna Status to CPSEs

The criteria laid down by the Government for grant of Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) is given below:

Criteria for grant of Maharatna status to CPSEs

  • The CPSEs meeting the following criteria are eligible to be considered for grant of Maharatna status.
    • Having Navratna status
    • Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
    • An average annual turnover of more than Rs. 25,000 crore during the last 3 years
    • An average annual net worth of more than Rs. 15,000 crore during the last 3 years
    • An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
    • Should have significant global presence/international operations.

Criteria for grant of Navratna status to CPSEs

  • The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status.

 

(Maximum Weight)

 TOTAL                                                                                                                       

100

1. Net Profit to Net worth                                                                                           

25

2. Manpower Cost to total Cost of Production or Cost of Services          

15

3. PBDIT to Capital employed                                                  

15

4. PBIT to Turnover                                                                   

15

5. Earning Per Share                                                                  

10

6. Inter Sectoral Performance                                                    

20

Criteria for grant of Miniratna status to CPSEs

  • Miniratna Category-I status: The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
  • Miniratna Category-II status: The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
    • Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
    • Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.

The list of existing 10 Maharatna, 14 Navratna and 73 Miniratna CPSEs is as under:

Maharatna CPSEs

Bharat Heavy Electricals Limited

Bharat Petroleum Corporation Limited

Coal India Limited

GAIL (India) Limited

Hindustan Petroleum Corporation Limited

Indian Oil Corporation Limited

NTPC Limited

Oil & Natural Gas Corporation Limited

Power Grid Corporation of India Limited

Steel Authority of India Limited

Navratna CPSEs

Bharat Electronics Limited

Container Corporation of India Limited

Engineers India Limited

Hindustan Aeronautics Limited

Mahanagar Telephone Nigam Limited

National Aluminium Company Limited

NBCC (India) Limited

NMDC Limited

NLC India Limited

Oil India Limited

Power Finance Corporation Limited

Rashtriya Ispat Nigam Limited

Rural Electrification Corporation Limited

Shipping Corporation of India Limited

Miniratna Category - I CPSEs

Airports Authority of India

Antrix Corporation Limited

Balmer Lawrie & Co. Limited

Bharat Coking Coal Limited

Bharat Dynamics Limited

BEML Limited

Bharat Sanchar Nigam Limited

Bridge & Roof Company (India) Limited

Central Warehousing Corporation

Central Coalfields Limited

Central Mine Planning & Design Institute Limited

Chennai Petroleum Corporation Limited

Cochin Shipyard Limited

EdCIL (India) Limited

Kamarajar Port Limited

Garden Reach Shipbuilders & Engineers Limited

Goa Shipyard Limited

Hindustan Copper Limited

HLL Lifecare Limited

Hindustan Newsprint Limited

Hindustan Paper Corporation Limited

Housing & Urban Development Corporation Limited

HSCC (India) Limited

India Tourism Development Corporation Limited

Indian Rare Earths Limited

Indian Railway Catering & Tourism Corporation Limited

Indian Railway Finance Corporation Limited

Indian Renewable Energy Development Agency Limited

India Trade Promotion Organization

IRCON International Limited

KIOCL Limited

Mazagaon Dock Shipbuilders Limited

Mahanadi Coalfields Limited

MOIL Limited

Mangalore Refinery & Petrochemical Limited

Mineral Exploration Corporation Limited

Mishra Dhatu Nigam Limited

MMTC Limited

MSTC Limited

National Fertilizers Limited

National Projects Construction Corporation Limited

National Small Industries Corporation Limited

National Seeds Corporation

NHPC Limited

Northern Coalfields Limited

North Eastern Electric Power Corporation Limited

Numaligarh Refinery Limited

ONGC Videsh Limited

Pawan Hans Helicopters Limited

Projects & Development India Limited

Railtel Corporation of India Limited

Rail Vikas Nigam Limited

Rashtriya Chemicals & Fertilizers Limited

RITES Limited

SJVN Limited

Security Printing and Minting Corporation of India Limited

South Eastern Coalfields Limited

Telecommunications Consultants India Limited

THDC India Limited

Western Coalfields Limited

WAPCOS Limited

Miniratna Category-II CPSEs

Artificial Limbs Manufacturing Corporation of India

Bharat Pumps & Compressors Limited

Broadcast Engineering Consultants India Limited

Central Railside Warehouse Company Limited

Engineering Projects (India) Limited

FCI Aravali Gypsum & Minerals India Limited

Ferro Scrap Nigam Limited

HMT (International) Limited

Indian Medicines & Pharmaceuticals Corporation Limited

MECON Limited

National Film Development Corporation Limited

Rajasthan Electronics & Instruments Limited

 

PRACTICE QUESTION

Q) Which of the following are criteria with reference to Navratna classification in India?

a. An average annual turnover of more than Rs. 25,000 crore during the last 3 years.

b. An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years.

  1. a only
  2. b only
  3. both a and b
  4. neither a nor b

Correct Answer: 3

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1915877