The Department of Public Enterprise (DPE) conferred ‘Navratna Status‘ upon Rashtriya Chemicals and Fertilizers (RCF). Navratnas constitute a group of public sector firms endowed with the financial independence to invest up to Rs 1000 crore without necessitating approval from the central government. Prior to this, the company had attained ‘Miniratna Status‘ from the Department of Public Enterprise.
Navratna Companies: Pillars of India’s Public Sector Excellence
Navratna Companies, a select group of nine esteemed public sector enterprises in India, are renowned for their outstanding performance and significant contributions to the nation’s economy. These companies enjoy substantial financial independence, granting them the authority to make investment decisions for projects up to a specific threshold without requiring government approval.
Navratna Companies, classified as Central Public Sector Enterprises (CPSEs), are subject to specific operational and financial criteria based on factors such as net profit, total production cost, earnings per share, and cross-sector performance.
About Rashtriya Chemicals & Fertilizers Ltd. (RCF)
Rashtriya Chemicals & Fertilizers Ltd. (RCF) is an Indian government-owned enterprise headquartered in Mumbai, primarily engaged in the production of chemicals and fertilizers. It operates under the ownership of the Government of India and falls under the administrative purview of the Ministry of Chemicals and Fertilizers.
RCF holds the distinction of being the fourth-largest producer of government-owned fertilizers in India. The company’s inception in 1978 followed the restructuring of the Fertilizer Corporation of India. RCF’s product portfolio encompasses Urea and Complex fertilizers (NPK) as well as a diverse range of Industrial Chemicals. It ranks as the fourth-largest Urea manufacturer in India, trailing behind IFFCO, NFL, and KRIBHCO.
Key takeaways for competitive examinations
- Chairman & MD of Rashtriya Chemicals and Fertilizers (RCF): S. C. Mudgerikar