Eligibility criteria for Grant of Maharatna status:
- Government running Bharat Petroleum Corporation (BPCL) is all set to become a Maharatna company. The oil marketing company is at present a Navaratna firm.
- The decision to elevate BPCL to Maharatna status was taken by a panel headed by the Cabinet secretary.
- It should be A Navratna Company
- Listed on Stock exchange
- It should have an average annual turnover of 25000 crores for last 3 years.
- It should have an average annual net worth of 15000 crores for last 3 years.
- It should have an average annual net profit after tax of more than 5000 crores for last 3 years.
- It should have the significant Global presence.
At present, there are seven Maharatna companies — Bharat Heavy Electricals, Coal India, GAIL (India), Indian Oil Corporation, NTPC, Oil and Natural Gas Corporation and Steel Authority of India.
After becoming a Maharatna firm, the board of BPCL will get enhanced powers which will help in expansion of operations, both in India and abroad.