3 MoD-owned companies get miniratna status

Defence Minister Rajnath Singh has approved ‘miniratna’ status to three defence public sector undertakings.

Advertisement

The status has been given to Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL) and India Optel Limited (IOL). Miniratna status is given to PSU’s which demonstrate continuous profitability for at least three years and maintain positive net worth.

The three profit making corporate entities. Munitions India Limited has achieved sales of Rs 8,214 crore (provisional) in financial year ending March 2025. Products of MIL include small, medium and high calibre ammunition, mortars, rockets, hand grenades, etc., with in-house manufacturing of initiatory compositions, propellants and high explosives.

Armoured Vehicles Nigam Limited has sales of Rs 4,946 crore (provisional) for this year ending March 2025. AVNL also achieved 100 per cent indigenisation of engines for all three platforms --- T-72 and T-90 tanks and the BMP.

India Optel Limited had sales of Rs 1,541.38 core (provisional) for the years ending March 2025. The products of IOL include opto-electronic systems and vision equipment which are used in land system platforms and weapons like battle tanks T-90, T-72, infantry combat vehicle BMP-II, artillery guns, naval guns, etc.