Mazagon Dock becomes the 18th Public Sector Undertaking to achieve the prestigious Navratna status, joining the ranks of India's top-performing PSUs.
Mazagon Dock can now undertake investments up to ₹1,000 crore without needing prior approval from the central government, empowering swift financial decisions.
Navratna status enables the company to invest up to 30% of its net worth annually, with a cap of ₹1,000 crore, fostering significant growth and expansion opportunities.
To achieve Navratna status, a PSU must first hold Miniratna status and meet strict financial benchmarks, including significant profit, turnover, and net worth criteria.
Mazagon Dock's achievement opens the door for future elevations, inspiring other PSUs to aim for higher statuses, showcasing potential for continuous growth.