Chennai Petroleum Corporation upgraded to Navratna status, becomes 28th such PSU

With the approval, Chennai Petroleum Corporation has become the 28th Navratna among central public sector enterprises in India.

ALSO READ | Standalone refiners Chennai Petro, MRPL under pressure as OMCs sell fuel below cost

Chennai Petroleum Corporation operates under the Ministry of Petroleum and Natural Gas and is engaged as a public sector enterprise in the petroleum sector. The Department of Public Enterprises said the company reported an annual turnover of ₹59,400 crore during FY 2025-26.What is a navratna status, and how is it accorded?

The Indian government accords the Navratna status to top-tier public sector undertakings (PSUs), and these organisations are authorised to undertake substantial investments of up to ₹1,000 crore without needing approval from the Centre.

These companies have the liberty to invest up to 30% of their net worth within a year, as long as it stays below ₹1,000 crore. They can also engage in joint ventures, form alliances, and establish subsidiaries abroad.

ALSO READ | Chennai Petroleum Q3 profit surges multifold but revenue dips sequentially

For a company to be accorded Navratna status, it should already hold the miniratna category I status and be listed under Schedule A of CPSEs.

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