A score of 60 (out of 100) is required, based on parameters which are given below. (v)   Average annual net profit after tax of more than Rs. 1000 cr. profit before interest and taxes to turnover. Criteria for grant of Navratna status :- The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely, 2500 crore or Average annual Turnover of Rs. 250 crore or equal to 50 % of the net worth, whichever is less. The annual profit is also recorded superior and therefore, the industrial presence is recorded to be on a completely global scale. It should have at least 3 ‘Excellent’ or ‘Very Good’ Memorandum of Understanding (MoU) during the last five years. 5,000 crore, during the last 3 years. Additional powers to “Maharatna”: The Boards of ‘Maharatna’ CPSEs in addition  to exercising all powers to ‘Navratna’ CPSEs, will exercise enhanced powers in the area of investment in joint ventures/subsidiaries  and creation of below Board level posts. The overall ceiling on such equity investments and mergers  and acquisitions in all projects put together will not exceed 30% of the net worth of the concerned CPSE. 25,000 crore, during the last 3 years. ‘Maharatna’. 4. Eligibility Criteria: Three years with an average annual net profit of over Rs. Criteria for grant of Navratna status :- The Miniratna Category – I and Schedule ‘A’ CPSEs, which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in … Profit in last 3 yrs. Criteria for giving Navratna Status: The company must have ‘ Miniratna Category – I ‘ status along with a Schedule ‘A’ listing. 1,000 core for ‘Navratna’ (CPSEs). (iv) Average annual net worth of more than Rs. 3. In a year, these companies can spend up to 30% of their net worth not exceeding Rs. Average annual net profit after tax of more than Rs. The Board of Directors of these CPSEs have the powers to structure and implement schemes relating to personnel and human resource management, training, voluntary or compulsory retirement schemes, etc. These public sector enterprises shall not depend upon budgetary support or Government guarantee. First of there needs to be a score of 60 out of 100 for the below parameters. The CPSEs which are at the higher end of the ‘Navratna’ category and have higher end of the ‘Navratna’ category and have potential to become Indian Multinational Companies (MNCs), should be recognized as a separate classs, i.e. The Board of Directors of a CPSE exercises delegated powers subject to board policy guidelines issued by Government has granted enhanced powers to the Boards of the profit making enterprises under various schemes like ‘Maharatna’, ‘Navratna’ and ‘Miniratna’ in the following  manner: Evolution of “Maharatna” Status: The Government had introduced the ‘Navratna’ scheme,  in 1997, to identify Central Public Sector Enterprises (CPSEs) that had comparative advantages and to support them comparative advantages and to support them in their drive to become global giants. The Board of Directors of these CPSEs have the powers for mergers and acquisitions, subject to the conditions that (i) it should be as per the growth plan and in the core area of functioning of the CPSE, (ii) conditions/limits would be as in the case of establishing joint ventures/subsidiaries, and (iii) Cabinet Committee on Economic Affairs would be kept informed in case of investments abroad. To establish financial joint ventures and wholly owned subsidiaries in India or abroad with the stipulation that the equity investment of the CPSE should be limited to the following:-, b. The company should possess Navratna status. (iii) Average annual turnover of more than Rs. Maharatna and Navaratna state-owned units operate in strategic fields such as coal, petroleum, steel, heavy engineering, telecommunications, power supply and transportation services. A Miniratna-II company needs to make profits for three years and have a positive net worth. 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