Union Government granted Navratna Status to EIL and NBCC
The Union Government granted Navratna status to Engineers India Ltd (EIL) and National Buildings Construction Corporation (NBCC).
The Union Government on 24 June 2014 granted Navratna status to Engineers India Ltd (EIL) and National Buildings Construction Corporation (NBCC).
Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises granted the navratna status to enhance the greater financial and operational autonomy.
The Navratna status to two Central Public Sector (CPSEs) will provide the companies greater leeway in deciding on business propositions such as forming joint ventures or taking call on projects involving major investments.
About Engineers India Ltd
EIL has emerged as one of India's leading companies in the engineering consultancy.EPC sector with a diverse portfolio of projects in oil and gas, petrochemicals, mining and metallurgy, fertiliser, power and infrastructure sectors.
About National Buildings Construction Corporation
NBCC provides civil engineering construction services in wide gamut of projects of varied nature, complexities & at socio-political geographical locations, both at home & overseas. NBCC has been operating in infrastructure segment as well, wherein it has been executing projects such as chimneys, cooling towers, and various types of power plant works.
Criteria for Navratna status
The Central Public Sector Enterprises (CPSEs) fulfilling the following criteria are eligible to be considered for grant of Navratna status:
• Having Schedule A and Miniratna Category-1 status.
• Having at least three Excellent or Very Good Memorandum of Understanding (MoU) ratings during the last five years.
• Having 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 such as Net Profit to Net Worth, Manpower cost to cost of production or services, Gross margin as capital employed, Gross profit as Turnover, Earnings per Share and Inter-Sectoral comparison based on Net profit to net worth.