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Union Government granted Navratna Status to CONCOR

Aug 5, 2014 14:47 IST

Container Corporation of India Limited (CONCOR) on 23 July 2014 was accorded Navratna Status by the Department of Public Enterprises under Union Ministry of Heavy Industry and Public Enterprises. CONCOR is the 17th Central Public Sector Enterprise (CPSE) to achieve Navratna Status.

CONCOR gives multi-modal logistics support for the country's exim (exports and imports) and domestic trade and commerce.
The granting of Navratna status entitles the company boards to do investments up to 1000 crore rupees or 15% of their net worth on a single project or 30% of their net worth in the whole year (not exceeding 1000 crore rupees) without seeking government permission.

Besides, it also entitles the Boards of Navaratna enhanced powers in the areas of  (i) capital expenditure; (ii) equity investment in  joint ventures/subsidiaries in India or abroad,  (iii) human resources  development (iv) orgnaisational restructuring and (v) raising of  debt from the domestic capital markets and borrowings from international markets.

Major criteria of awarding Navratna Status are:

• A Central Public Sector Enterprise (CPSE) should be a Schedule A and Miniratna Category – I company.
• The CPSEs should have at least three Excellent or Very Good Memorandum of Understanding (MoU) ratings during the last five years.
• The CPSE should have a composite score of 60 or above out of 100 marks based on its performance during the last three years on the following six identified efficiency parameters:

Efficiency Parameters

Maximum Marks

Net Profit to Worth

25

Manpower cost to Cost of Production/Services

15

Gross Margin as capital employed

15

Gross Profit as Turnover

15

Earnings per Share

10

Inter-sectoral comparison based on Net profit to Net worth

20

Total

100

About CONCOR
CONCOR was incorporated in March 1988 under the Companies Act, 1956 and commenced operation from November 1989 taking over the existing network of 7 ICDs (Inland Container Depots) from the Indian Railways. It is now the market leader having the largest network of 62 ICDs or Dry ports in India.

Its current Chairman and Managing Director (CMD) is Anil Kumar Gupta.

About Navratna
Navratna was the title given originally to 9 Public Sector Enterprises (PSEs) identified by the Government of India in 1997 as "public sector companies that have comparative advantages", giving them greater autonomy to compete in the global market so as to "support [them] in their drive to become global giants.

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