Chennai Petroleum Corporation Ltd (CPCL) has been upgraded to Navratna Central Public Sector Enterprise (CPSE) status, with Union Finance Minister Nirmala Sitharaman approving the elevation. The announcement was made by the Department of Public Enterprises (DPE) under the Ministry of Finance. With this, CPCL becomes the 28th Navratna among all CPSEs in India.
CPCL, which operates under the Ministry of Petroleum and Natural Gas, posted an annual turnover of Rs 59,400 crore in FY 2025-26. Prior to this upgrade, the company held Miniratna Category-I status.
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What the Navratna tag means
The Navratna classification, introduced by the government in 1997, grants Central Public Sector Enterprises significantly enhanced financial and operational autonomy. A Navratna CPSE can invest up to Rs 1,000 crore or 15% of its net worth on a single project without seeking prior government approval. The status also empowers companies to establish joint ventures overseas, access new markets, leverage local expertise, foster innovation through technological alliances, and facilitate mergers and acquisitions.
