WHAT IS A MAHARATNA COMPANY?

Every engineering student’s goal is to pass the GATE Exam and get a position in a government PSU, and the PSU owned by Maharatna Company is like the shining jewel of CPSEs.

The purpose of the article is to bring attention to the benefits Maharatna PSU offers its engineering graduates.

The Indian government made the decision to award the CPSEs Maharatna status in 2009. Becoming a Maharatna PSU must satisfy specific requirements. Compared to other categories like Navratna or Miniratna, a corporation with the Maharatna designation has more authority and autonomy. Maharatna CPSEs has the ability to invest between INR 1,000 and INR 5,000 crore. PSUs having Maharatna status are able to fund projects with up to 15% of their net worth without requiring government approval.

Here are some crucial aspects related to the Maharatna companies that you must understand before diving into the details associated with the Maharatna companies:

What is the difference between Maharatna and Navratna companies?

Maharatna companies have already gained recognition as Navratna companies. The former is the next stage of the later status. Apart from the level of recognition, the total amount of investment is the differentiating factor between both these types of companies. Maharatna companies in India can invest 15% of a particular government project’s total value or up to 5000 Crore INR in the projects. These are usually the government projects that highlight promising growth and returns in the future.

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What is the benefit of Maharatna company?

Here are the benefits of a Maharatna company:

• The major benefit associated with Maharatna PSU in terms of investment. It includes the investment amount ranging between INR 1,000 crore and INR 5,000 crore.
• The officers working at these top organizations are called gazetted officers.
• The officials who recruit employees at the Maharatna company in India receive the recognition of full-fledged government employees.
• The employees have an appreciating pay scale that proves to be an attractive feature for the aspirants preparing themselves to be selected at a top Maharatna company.
• Appreciating recognition in society.
• Availability of facilities such as regular pension after retirement, cafeteria facilities, medical benefits, and paid leaves.

Therefore, it is important to understand and remember these benefits while preparing to apply for the respective roles at a Maharatna company in India.

1. When did BHEL become Maharatna?

The prestigious BHEL become Maharatna and received this prestigious Maharatna status in the year 2013. The Government of India released the notification of this brilliant achievement on 1^st February of the same year. The best part is that the Government of India granted this prestigious status to both BHEL and GAIL on the same day.

2. Is GAIL Maharatna or Navratna?

GAIL is a well-known Maharatna company of India that has received appreciating recognition in this field.

The following conditions have to be fulfilled for a CPSE to be a Maharatna PSU: –

1. Firstly, it should be a Navratna company; it is a kind of promotion of status.
2. The company should have a turnover of more than INR 25,000 Crore for the last three years.
3. The net worth of the company should be more than INR 15,000 Crore for the last three years.
4. After the payment of taxes, the company should be making a net profit of more than INR 5000 Crore annually.
5. The company, as per the rules of the Securities and Exchange Board of India (SEBI) of minimum prescribed public shareholding limit, must mark its presence on the Indian Stock Exchange.

How many Maharatna Companies are there in India?

Currently, there are thirteen Maharatna PSUs. Below is the complete list of companies/PSUs that fall under the Maharatna Status:

1. Bharat Heavy Electricals Limited (BHEL)
2. Coal India Limited (CIL)
3. Gas Authority of India Limited (GAIL)
4. Indian Oil Corporation Limited (IOCL)
5. National Thermal Power Corporation Limited (NTPC)
6. Oil and Natural Gas Corporation Limited (ONGC)
7. Steel Authority of India Limited (SAIL)
8. Bharat Petroleum Corporation Limited (BPCL)
9. Power Grid Corporation of India Limited (PGCIL)
10. Hindustan Petroleum Corporation Limited (HPCL)
11. Power Finance Corporation Limited (PFCL)
12. Rural Electrification Corporation Limited (RECL)
13. Oil India Ltd (OIL)

Job in a MAHARATNA COMPANY

A job at Maharatna Company provides tremendous opportunities in various managerial and technical fields and helps to grow professionally. You can go through and understand the main attractive points and reasons above in much detail. These are just some of the reasons among others to make it as popular as it is. The status of Maharatna PSU is like a crown among the other and securing a good score in GATE Examination is one of the popular ways to get this crown, as many of these companies, now recruit through the GATE exam followed by their criteria. The aspirants must secure a decent GATE score to land this job.

Let us now take a brief look at the various Maharatna PSUs and the perks of joining them individually:

NATIONAL THERMAL POWER CORPORATION (NTPC)

NTPC is the largest power company, engaged in the generation of electricity. It contributes to 25% of the total power generation. The company is also involved in consultancy and turnkey project, which includes engineering, project management, construction management, and management of power plants. Apart from its core business, it is also involved in gas exploration and coal mining activities.

NTPC recruits engineers for the post of executive trainees through the GATE Exam. The fields of engineering stream of Electrical, Mechanical, Civil, Electronics, and Instrumentation are eligible to apply for the recruitment process in the power company.

Pay Scale, Perks, and Allowances

The pay scale of INR 60,000 will be given to the entrance level Executive Trainee.

Other than the basic salary, employees will also get Dearness Allowance dependent on the basic pay, House Rent Allowance (HRA), Conveyance Allowance, Travel Allowance, Medical Benefits, Leave Encashment, Gratuity among others

OIL AND NATURAL GAS CORPORATION (ONGC)

ONGC is the largest crude oil and natural gas company in India, contributing to 70% of Indian domestic production.

ONGC recruits engineers from various streams of engineering. Graduates from the Electrical, Mechanical, Instrumentation, Electronics, Petroleum, Chemical, Civil, Telecom, E&T, Computer, Auto engineering, Information Technology, or Applied Petroleum Engineering are eligible to apply. And postgraduate candidates in physics with electronics, geology, chemistry, geophysics, mathematics, physics, petroleum technology, or computer applications and candidates having M.Sc. or M. Tech degree in petroleum geoscience, petroleum geology, geology technology, or geophysics technology can apply for the position of Assistant Executive Engineer through the GATE Examination.

Pay Scale, Perks, and Allowances

The Trainees will get the basic salary of INR 60,000- 1,80,000/- with a 3% rise annually.

Other than basic pay, they will also get allowance, Cafeteria Approach, House Rent Allowance (HRA), Mining Allowance, Contributory Provident Fund, Conveyance Maintenance, Performance Related Pay, Gratuity, Medical facilities, Composite Social Security Scheme among others

STEEL AUTHORITY OF INDIA LIMITED (SAIL)

SAIL is the largest steel-making company. It produces steel and iron and owns five integrated plants and three special steel plants. It is according to the survey, one of the fastest-growing companies.

SAIL has also started the recruitment process through GATE Exam for the post of Management Trainees. The eligible engineering branches are Ceramics, Computer, Civil, Chemical, Electrical, Electronics & Instrumentation, Mechanical, Metallurgy & Mining.

Pay Scale, Perks, and Allowances

The basic pay scale given to a Management Trainee of Grade E1 is INR 20,600 – INR 46,500/- approximately.

Other than basic pay, employees will get Dearness Allowance, Cafeteria Approach which is 46% of basic pay, the medical facilities, Provident Fund, Gratuity, and other additional benefits.

BHARAT HEAVY ELECTRICALS LIMITED (BHEL)

BHEL is an engineering and manufacturing company, involved in the design, engineering, construction, testing, commissioning and servicing, and catering to the needs of the economy through power generation, transmission, industry, transportation, oil and gas, renewable energy, defense, energy storage solutions, etc.

BHEL has also announced the recruitment process of fresh graduates for the post of Engineer trainee through the GATE examination. Mechanical & Electrical Engineering are the eligible fields.

Pay Scale, Perks, and Allowances

The entry-level post of Engineer Trainee gets a pay scale of INR 50,000-1,60,000/- approximately throughout the training period and a pay scale of INR 60,000-1,80,000/- approximately after the training period.

Other than basic pay, Dearness Allowance dependent on basic pay, Cafeteria Approach (46% of basic pay), Leave Encashment, Medical facilities for self and reliant, Provident Fund, Gratuity, Performance Related Pay, Subsidized Canteen Facilities, House Rent Allowance are the other benefits enjoyed by employees.

INDIAN OIL CORPORATION LIMITED (IOCL)

IOCL also known as INDIAN OIL is involved in refining, transportation, and marketing petroleum products. It is the largest commercial oil company. Besides its core business, it is also engaged in the hydrocarbon value chain, exploration, and production of oil and gas and alternative energy resources.

IOCL employee officers for the executive post through GATE Examination. The Eligible fields are Chemical, Civil, Computer, Electrical, Electronics, Instrumentation, Mechanical, Metallurgical, and Polymer Engineering.

Pay Scale, Perks, and Allowances

Candidates get a basic pay scale of INR 50,000 – 1,60,000/ for the post of Engineers or Officers.

In addition to basic pay scale, engineers or officers receive Dearness Allowance, House Rent Allowance, Cafeteria Approach, Medical facilities for self and family members, Gratuity, Performance Related Pay and many more other facilities.

GAS AUTHORITY OF INDIA LIMITED (GAIL)

GAIL is a natural gas processor and distributor company.

GAIL has also made GATE Score mandatory for the recruitment for the post of Executive Trainee. Engineering students of Chemical, Mechanical, Electrical, Instrumentation & Civil streams are eligible to apply.

Pay Scale, Perks, and Allowances

The basic salary for the candidates selected for the various posts is INR 60,000-1,80,000/- for E2 Grade, INR 70,000-2,00,000/- E3 grade approximately.

In addition to basic pay, the employees get Dearness Allowance, cafeteria approach, Performance-related pay, House Rent Allowance, medical facility, group insurance, conveyance advance, and other numerous advantages.

BHARAT PETROLEUM CORPORATION LIMITED (BPCL)

BPCL is a largest oil and gas company in India.

The BPCL recruits through the GATE Exam in the disciplines of Mechanical engineering for the post of Management Trainee.

Pay Scale, Perks, and Allowance:

The employees will get the basic salary of INR 24,900 – INR 50,500/- approximately.

In addition to the basic pay scale, employees will also be entitled to Dearness Allowance based on the IDA pattern, provident fund, medical facilities, and other numerous benefits. This was all about Maharatna PSUs. We will soon share more about Navratna and Miniratna PSUs.

POWER GRID CORPORATION OF INDIA LIMITED (PGCIL)

Power Grid Corporation of India Limited is a top Maharatna company and the largest Electric Power Transmission Utility in the country.

This Maharatna company of India recruits its employees via the GATE exam. It mainly includes candidates from the civil and mechanical engineering fields. Therefore, candidates must secure the required cut-off in this examination. Apart from this, the General and OBC (NCL) candidates must secure a minimum 70% CGPA in the respective qualifying degree examination. SC/ST candidates must secure at least passing marks in this examination.

Pay scale, Perks, and Allowance:

The basic salary of the employees in the executive cadre (E2 – E9) starts from INR 50,000 and ranges up to INR 3,00,000 per month. The facilities offered to the respective employees include dearness allowance (DA), HRA/company leased accommodation, medical facilities, conveyance reimbursement, and insurances such as group insurance and superannuation benefits. Performance-related pay is another appreciating feature available with the total salary at this Maharatna PSU.

HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL)

Hindustan Petroleum Corporation Limited is a Maharatna PSU company that has achieved several milestones including entering into the list of the Forbes 2000 companies.

Hindustan Petroleum Corporation Limited recruits engineers from the Mechanical, Civil, and Chemical Engineering fields for different vacancies available at the organization. GATE exam is the primary examination that helps the organization recruit deserving candidates for the current vacancies. Apart from this, this Maharatna company in India also conducts its exams for recruiting professionals for other segment requirements.

Pay scale, Perks, and Allowance:

The basic salary at Hindustan Petroleum Corporation Limited for engineers in the E2 level ranges from INR 50,000 to INR 1,60,000 per month. The other facilities available include dearness allowance, HRA allowance, contributory provident fund, gratuity, and superannuation benefits.

POWER FINANCE CORPORATION LIMITED (PFCL)

Power Finance Corporation Limited is a Maharatna company in India that functions under the Ministry of Power. It received the Maharatna CPSE title in October, 2021. It is the largest Non-Banking Financial Company (NBFC) that has achieved several recognitions right from the time of its establishment. PFCL is the latest entrant in the list of Maharatna companies in India.

Pay scale, Perks, and Allowance:

The basic salary of executives at Power Finance Corporation Limited ranges from INR 50,000 to INR 3,00,000, depending on the professional’s designation and experience. Apart from this, this Maharatna PSU also offers administrative expenses, conveyance expenses, and related facilities.

Rural Electrification Corporation Limited (RECL)

REC Limited, formerly known as Rural Electrification Corporation Limited (RECL), is an Indian government organization that operates in the public sector and is under the Ministry of Power. Across the nation, REC is essential to the funding and advancement of rural electrification projects. It provides funding for initiatives involving the production, transmission, and distribution of electricity to state electricity boards, state governments, and rural electric cooperatives. Its main goal is to assist in the development of rural infrastructure so that India’s entire country gets electrified.

Pay scale, Perks, and Allowance:

The basic salary of Assistant Officers at REC Limited ranges from INR 30,000 to INR 1,20,000, depending on the professional’s designation and experience. Apart from this, Maharatna PSU also offers Dearness Allowance (DA), Medical Facilities for employees and dependents, House Rent Allowance (HRA) and other allowances depending on the place of posting.

Oil India Ltd (OIL)

Under the supervision of the Indian government’s Ministry of Petroleum and Natural Gas, Oil India Limited (OIL) is the country’s second-largest oil and gas corporation. Constructed in 1959, OIL is involved in the investigation, advancement, and extraction of natural gas, crude oil, and LPG both domestically and internationally. It contributes significantly to India’s economic expansion and energy security.

Pay scale, Perks, and Allowance:

OIL offers fresh recruits typically start with a pay scale ranging from INR 60,000–1,80,000/- depending on the position. This Maharatna PSU offers a number of benefits in addition to pay, such as house rent allowance (HRA), medical facilities for workers and their dependents, dearness allowance (DA), Pension, Provident Fund, and Gratuity based on posting location.

Hope this content helps you with the critical information related to the Maharatna companies in India.

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