Chennai Petroleum Corporation Elevated to Navratna Status, Now the 28th PSU to Achieve This Designation

Chennai Petroleum Corporation Ltd (CPCL), a state-owned entity, has achieved Navratna Central Public Sector Enterprise (CPSE) status after receiving approval from the Union Finance Minister, as stated by the Department of Public Enterprises.

With this designation, Chennai Petroleum Corporation ranks as the 28th Navratna among central public sector enterprises in India.

ALSO READ | Standalone refiners Chennai Petro, MRPL face challenges as OMCs sell fuel below cost
Operating under the Ministry of Petroleum and Natural Gas, Chennai Petroleum Corporation serves as a public sector enterprise within the petroleum industry. The Department of Public Enterprises noted that the company recorded an annual turnover of ₹59,400 crore for FY 2025-26.What is Navratna status, and how is it granted?

The Indian government bestows Navratna status on elite public sector undertakings (PSUs), giving these organizations the authority to make significant investments of up to ₹1,000 crore without prior approval from the Centre.

These firms can invest up to 30% of their net worth within a single year, provided it does not exceed ₹1,000 crore. They are also permitted to engage in joint ventures, form partnerships, and create subsidiaries internationally.

ALSO READ | Chennai Petroleum Q3 profit sees significant growth, despite a sequential revenue dip

To qualify for Navratna status, a company must already possess Miniratna Category I status and be classified under Schedule A of CPSEs.

Shares of Chennai Petroleum Corporation Ltd closed at ₹1,098.30, decreasing by ₹21.05 or 1.88%, on the BSE.