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Bharat Heavy Electricals Ltd has been
accorded the “Maharatna” status by the
Central government. With this, the PSU
equipment maker under the Union ministry of
heavy industries will have greater financial
autonomy.
A Maharatna firm is entitled to take
investment decisions up to Rs.5,000 crore
without approval from the Central government.
The new status will help BHEL realize its longterm
objectives and reach a turnover of Rs.1
trillion by FY17, the company said in a
statement. BHEL added that it would be able to
tap big ticket opportunities for equity
participation in large size international
projects to gain access to technology,
engineered materials and market. A company
qualifying for the Maharatna status should
have an average annual turnover of more than
Rs.25,000 crore over the last three years. It
must also have net worth of over Rs.15,000
crore and a net profit of more than Rs.5,000
crore in its last three years. BHEL had a
turnover of Rs49,510 crore and net profit of
Rs.7,040 crore in 2012. Seven companies so
far have been conferred the Maharatna status;
the other six being Coal India Ltd, Gail (India)
Ltd, IOC, NTPC , ONGC and SAIL.
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