SOLAR ENERGY CORPORATION OF INDIA GETS 'MINIRATNA CATEGORY-I' STATUS
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Context
- Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE).
About SECI
- Incorporated in the year 2011, SECI is the primary implementing agency of the Ministry of New and Renewable Energy, Govt. of India for Renewable Energy schemes/projects towards fulfillment of India's international commitments.
- Till date, SECI has awarded Renewable Energy (RE) project capacities of over 56 GW.
- SECI is also active in setting up of projects through its own investments as well as for other public sector entities as Project Management Consultant (PMC).
- SECI enjoys highest credit rating of AAA by ICRA.
- It is the only CPSU dedicated to the renewable energy sector.
- It was originally incorporated as a section-25 (not for profit) company under the Companies Act, 1956. However, through an amendment by Government of India, the company has been converted into a Section-3 company, in 2015, under the Companies Act, 2013.
- The mandate of the company has also been broadened to cover the entire renewable energy domain.
- The company also has a Category 1 power trading license and is active in this domain through trading of solar powerfrom projects set up under the schemes being implemented by it.
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Vision
- To build ‘Green India’ through harnessing abundant solar radiation and to achieve energy security for the country.
Mission
- To become the leader in development of large scale solar installations, solar plants and solar parks and to promote and commercialize the use of solar energy to reach remotest corner of India.
- To become leader in exploring new technologies and their deployment to harness solar energy.
About Ratna Status to CPSEs
The criteria laid down by the Government for grant of Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) is given below:
Criteria for grant of Maharatna status to CPSEs
- The CPSEs meeting the following criteria are eligible to be considered for grant of Maharatna status.
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- Having Navratna status
- Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
- An average annual turnover of more than Rs. 25,000 crore during the last 3 years
- An average annual net worth of more than Rs. 15,000 crore during the last 3 years
- An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
- Should have significant global presence/international operations.
Criteria for grant of Navratna status to CPSEs
- The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status.
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(Maximum Weight) |
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TOTAL |
100 |
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1. Net Profit to Net worth |
25 |
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2. Manpower Cost to total Cost of Production or Cost of Services |
15 |
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3. PBDIT to Capital employed |
15 |
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4. PBIT to Turnover |
15 |
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5. Earning Per Share |
10 |
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6. Inter Sectoral Performance |
20 |
Criteria for grant of Miniratna status to CPSEs
- Miniratna Category-I status: The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
- Miniratna Category-II status: The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
- Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
- Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.
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The list of existing 10 Maharatna, 14 Navratna and 73 Miniratna CPSEs is as under: Maharatna CPSEs Bharat Heavy Electricals Limited Bharat Petroleum Corporation Limited Coal India Limited GAIL (India) Limited Hindustan Petroleum Corporation Limited Indian Oil Corporation Limited NTPC Limited Oil & Natural Gas Corporation Limited Power Grid Corporation of India Limited Steel Authority of India Limited Navratna CPSEs Bharat Electronics Limited Container Corporation of India Limited Engineers India Limited Hindustan Aeronautics Limited Mahanagar Telephone Nigam Limited National Aluminium Company Limited NBCC (India) Limited NMDC Limited NLC India Limited Oil India Limited Power Finance Corporation Limited Rashtriya Ispat Nigam Limited Rural Electrification Corporation Limited Shipping Corporation of India Limited Miniratna Category - I CPSEs Airports Authority of India Antrix Corporation Limited Balmer Lawrie & Co. Limited Bharat Coking Coal Limited Bharat Dynamics Limited BEML Limited Bharat Sanchar Nigam Limited Bridge & Roof Company (India) Limited Central Warehousing Corporation Central Coalfields Limited Central Mine Planning & Design Institute Limited Chennai Petroleum Corporation Limited Cochin Shipyard Limited EdCIL (India) Limited Kamarajar Port Limited Garden Reach Shipbuilders & Engineers Limited Goa Shipyard Limited Hindustan Copper Limited HLL Lifecare Limited Hindustan Newsprint Limited Hindustan Paper Corporation Limited Housing & Urban Development Corporation Limited HSCC (India) Limited India Tourism Development Corporation Limited Indian Rare Earths Limited Indian Railway Catering & Tourism Corporation Limited Indian Railway Finance Corporation Limited Indian Renewable Energy Development Agency Limited India Trade Promotion Organization IRCON International Limited KIOCL Limited Mazagaon Dock Shipbuilders Limited Mahanadi Coalfields Limited MOIL Limited Mangalore Refinery & Petrochemical Limited Mineral Exploration Corporation Limited Mishra Dhatu Nigam Limited MMTC Limited MSTC Limited National Fertilizers Limited National Projects Construction Corporation Limited National Small Industries Corporation Limited National Seeds Corporation NHPC Limited Northern Coalfields Limited North Eastern Electric Power Corporation Limited Numaligarh Refinery Limited ONGC Videsh Limited Pawan Hans Helicopters Limited Projects & Development India Limited Railtel Corporation of India Limited Rail Vikas Nigam Limited Rashtriya Chemicals & Fertilizers Limited RITES Limited SJVN Limited Security Printing and Minting Corporation of India Limited South Eastern Coalfields Limited Telecommunications Consultants India Limited THDC India Limited Western Coalfields Limited WAPCOS Limited Miniratna Category-II CPSEs Artificial Limbs Manufacturing Corporation of India Bharat Pumps & Compressors Limited Broadcast Engineering Consultants India Limited Central Railside Warehouse Company Limited Engineering Projects (India) Limited FCI Aravali Gypsum & Minerals India Limited Ferro Scrap Nigam Limited HMT (International) Limited Indian Medicines & Pharmaceuticals Corporation Limited MECON Limited National Film Development Corporation Limited Rajasthan Electronics & Instruments Limited
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PRACTICE QUESTION Q) Which of the following are criteria with reference to Navratna classification in India? a. An average annual turnover of more than Rs. 25,000 crore during the last 3 years. b. An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years.
Correct Answer: 3 |
https://www.pib.gov.in/PressReleasePage.aspx?PRID=1915877
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