The Indian government has granted “Maharatna” status to PSU Hindustan Aeronautics Limited (HAL). With this, HAL became the 14th company in India to achieve ‘Maharatna’ status. The Ministry of Public Enterprises gave this information by sharing a post on social media platform X.
The DPE said Finance Minister Nirmala Sitharaman approved the upgrade of Indian company PSU HAL to 14th Maharatna CPSE. This proposal had already been recommended by the Inter-Ministerial Committee (IMC) headed by the Finance Secretary and the Supreme Committee headed by the Cabinet Secretary.
The company’s annual turnover is Rs 28,162 crore. HAL is a CPSE (Central Public Sector Enterprises) of the Department of Defense Production (DoDP). The company’s annual turnover stands at Rs 28,162 crore and the net profit for the financial year 2023-24 is Rs 7,595 crore.
What are the benefits of HAL after obtaining Maharatna status? After achieving Maharatna status, HAL will enjoy autonomy, higher investment capacity and strategic flexibility. Now, HAL can invest up to ₹5,000 crore or 15% of its net worth in a project without any government approval.
Like any other Maharatna company, HAL will have the freedom to carry out mergers, acquisitions and strategic investments domestically and internationally.
HAL gave 125% return in one year HAL shares closed 0.94% lower at Rs 4,440 on Friday. Its shares have given a return of 22% in the last 6 months and 125.56% in a year. If we talk about this year only i.e. from January 1 to present, the company has given a return of 57.09%. The market capitalization of the company is Rs 2.97 lakh crore.