3 MoD-owned firms get 'miniratna' status
Defence Minister Rajnath Singh has approved ‘miniratna’ status to three defence public sector undertakings.
The status has been given to Munitions India Ltd (MIL), Armoured Vehicles Nigam Ltd (AVNL) and India Optel Ltd (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. MIL has achieved sales of Rs 8,214 crore (provisional) in fiscal ending March 2025. 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 same period.
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