On 19 June 2026 the Government of India conferred Navratna status on Chennai Petroleum Corporation Limited (CPCL), announced by the Department of Public Enterprises (Ministry of Finance); CPCL became the 28th Navratna Central Public Sector Enterprise.
Navratna elevation: core facts
- Date & authority: 19 June 2026; Department of Public Enterprises, Ministry of Finance.
- Count: CPCL is the 28th Navratna CPSE.
- Prior status: Miniratna Category‑I.
Operational & financial powers
- Single‑project investment limit: Can invest up to ₹1,000 crore or 15% of its net worth on a single project without seeking prior government approval.
- Strategic transactions: Permitted to establish overseas joint ventures and pursue mergers and acquisitions within delegated powers.
- Delegation scope: Provides financial and operational autonomy to approve investments and collaborations without prior government approval.
Ownership & financials
- Major shareholder: Indian Oil Corporation holds 51.89% stake (parent company).
- Turnover: Reported ~₹59,400 crore in FY2025‑26.
- Sector role: Downstream refining and petroleum products within India’s petroleum value chain.
IASPOINT Booster Facts
- Classification tiers: DPE classifies CPSEs as Maharatna, Navratna and Miniratna with different delegated powers.
- Administering body: Department of Public Enterprises (Ministry of Finance) issues status and guidelines.
- Recall item for prelims: Navratna single‑project investment limit ₹1,000 crore or 15% of net worth; overseas JV and M&A permissions are part of delegated powers.
- Current tally: Number of Navratna CPSEs = 28.