On Monday, the central government conferred Navratna PSU status on Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC). With this addition, a total of seven listed government-owned companies under the state transporter now hold the prestigious tag, granting them greater operational autonomy flexibility.
7 Railway PSUs, Including IRCTC & IRFC, Attain ‘Navratna’ Status
Of the 12 railway CPSEs, Concor, RVNL, IRCON, RITES, and RailTel had previously received Navratna classification. “After 2014, all seven listed railway CPSEs have been upgraded to Navratna status,” said Railway Minister Ashwini Vaishnaw. Notably, Concor was the first to achieve this status in July 2014.
Navratna entities are granted financial autonomy, allowing them to make discretionary investments of up to ₹1,000 crore or 15% of their net worth. IRCTC, a key arm of the Indian Railways, facilitates online railway ticket booking and provides catering services across the network.
The national transporter recorded an annual turnover of ₹4,270 crore, a profit after tax of ₹1,111 crore, and a net worth of ₹3,230 crore for FY24.
“All railway CPSEs are profit-making entities. Their cumulative profit has surged from ₹7,015 crore in FY21 to ₹11,780 crore in FY24,” the Ministry of Railways stated.
