It is true that in India’s economic growth over the years, public sector companies and corporations have played a super big role. And sure enough, among these public sector companies, there are some that we call “a great jewel” aka Maharatna companies. What’s that? Oh, these are the companies that have substantial authority and autonomy granted by the Indian government, so yes, these types of companies hold considerable power. Though, just like Maharatnas aka jewels, these types of companies are also not very common, in fact, they’re pretty rare, like there are only 13 Maharatna companies in India. And today though, we’re here to take a good look at the list of the Maharatna companies in India as of 2025, so, let’s just get to the list right away.

1. Bharat Heavy Electricals Limited (BHEL)

BHEL is one of India’s biggest engineering companies and it surely has that Maharatna status given by the Indian government. Whatever this company does in the energy generation segment, they have been at it since 1964 and have the biggest share of the market. What specifically? Well, just know that this company makes the equipment used in power plants like thermal, nuclear and hydroelectric. It assists in generating the electricity people consume every day, that’s all!

2. Bharat Petroleum Corporation Limited (BPCL)

Next up, well, BPCL has been in the oil and gas industry since 1952 and is one of the top in India, no two ways about that. Like, they take raw oil, refine it, and make useful products like petrol, diesel, and gas for cooking. Chances are you know Bharat Gas and MAK Lubricants brands, and yes, they actually belong to BPCL.

3. GAIL India Limited (GAIL)

GAIL is a large corporation in India, no doubt, dealing with natural gas that was started in 1984, were you aware of that? Well, for those who don’t know though, it has a giant pipeline network that delivers gas across all of the country. GAIL doesn’t just do gas but handles city gas distribution (basic wiring and your car) and chemical manufacturing too.

4. Coal India Limited (CIL)

Alright, next up, India needs coal, Coal India Ltd is the company that makes it possible. How? First of all, they started their company back in 1975. Today they are the largest coal producer in the world, that’s precisely how! As you may know, coal is required for the generation of electricity and in industries such as steel, cement, etc. CIL like other PSUs takes 26% stake in projects.

5. Hindustan Petroleum Corporation Limited (HPCL)

Another Oil And Gas company? Well yes, and this one has been at it ever since 1974. You know like, India’s oil and gas needs are growing, so it is understandable why there are so many such companies. Like, this particular one, takes crude oil and turns it into fuel for homes, offices, and cars. On top of that though, HPCL has a huge network of pipelines, terminals, and filling points.

6. Steel Authority of India Limited (SAIL)

It’s been around since 1954, making the finest steel in India, no two ways about that. There are super high chances that wherever you see steel being used, like those rodes, bridges, buildings or anything like that, it must have come through this company. How? Oh, well, SAIL has several steel-making plants in India. It is also one of the largest steel exporters in India, just saying!

7. National Thermal Power Corporation (NTPC)

And you should know at this point that NTPC, founded in 1975, is India’s largest power company. How does it function? Well, the company makes energy from coal, gas, water (hydropower) and also solar and wind. India’s power needs are growing, and NTPC will help keep pace, which is super important if you think about it for a sec.

8. Rural Electrification Corporation Limited (REC)

Next Maharatna? Well, that would be the 1969-established REC, which has been helping finance power projects in India. Like, right here in India, it gives money to businesses that create, give out, or send power. Never mind where you live in India, the only goal is to ensure that you have power.

9. Power Finance Corporation (PFC)

Alright, so for over 35 years, PFC has been India’s biggest financial institution for power projects, but how exactly? Well, just know that it gives long-term loans to companies that build power plants, power lines, and transformers. And something of very recent, well, PFC is helping India go green by financing projects that make solar, wind, and hydropower.

10. Power Grid Corporation of India Limited (POWERGRID)

Sure enough, POWERGRID was founded in 1989 and is responsible for power transmission throughout the country. What else? Oh, well, the company also upgrades the electricity grid with modern technology to help bring down energy losses. If you dive deep into what else it does, you’ll appreciate this company even more.

11. Indian Oil Corporation Limited (IOCL)

And then, well, IOCL was established in 1959, and it sure is India’s largest oil refining and marketing company. For those who don’t know it yet, well, it processes crude oil to produce fuels; for example, petrol, diesel, LPG, and jet fuel. However, apart from fossil fuels, IOCL is also investing in hydrogen fuel, electric vehicle charging stations, and more to reduce pollution.

12. Oil & Natural Gas Corporation Limited (ONGC)

Next on the list, were you aware that ONGC is India’s biggest oil and gas exploration company, set up in 1956? Sure enough, right here, ONGC plays a vital role in producing and extracting crude oil in India as it produces around 71% of it. ONGC has crude oil drilling sites both onshore and offshore and has energy investments in other countries too.

13. Oil India Limited (OIL)

Alright, lastly, you see, Oil India Limited was set up in 1959. It is yet another company engaged in oil and gas exploration. It makes crude oil and natural gas and has a big pipeline that transports fuel to refineries.  The company is also expanding its global presence by acquiring energy assets in different nations, no two ways about that.

Conclusion

So there you have it. These are by far the only Maharatna companies in India, and as you saw, these companies are actually functional in different sectors of the country, and that’s precisely what is working in favour of the growth of the Indian economy. Wouldn’t you agree?