MECON Attains Miniratna Category-I Status, Gains Greater Financial and Operational Autonomy
MECON recorded a Profit Before Tax (PBT) of ₹77.62 crore in FY 2023-24 (restated), ₹32.08 crore in FY 2024-25 (restated), and ₹104.53 crore in FY 2025-26, reflecting sustained financial improvement
The recognition comes after MECON reported continuous profits over the last three financial years and achieved a positive net worth of ₹535.42 crore as on March 31, 2026, meeting the financial benchmarks required for the prestigious status.
New Delhi: The Ministry of Steel has granted Miniratna Category-I status to MECON Limited, a Schedule ‘A’ Central Public Sector Enterprise (CPSE), following the company’s strong financial performance and compliance with the eligibility criteria prescribed by the Department of Public Enterprises (DPE).
The recognition comes after MECON reported continuous profits over the last three financial years and achieved a positive net worth of ₹535.42 crore as on March 31, 2026, meeting the financial benchmarks required for the prestigious status.
According to the Ministry of Steel, MECON recorded a Profit Before Tax (PBT) of ₹77.62 crore in FY 2023-24 (restated), ₹32.08 crore in FY 2024-25 (restated), and ₹104.53 crore in FY 2025-26, reflecting sustained financial improvement and operational resilience.
The Miniratna Category-I status provides enhanced financial and operational autonomy to MECON’s Board, enabling the company to make larger investments and undertake modernization, technology upgradation and business expansion projects with greater flexibility and faster decision-making.
The ministry said the enhanced powers are expected to strengthen MECON’s growth trajectory and improve its ability to execute strategic projects across key sectors.
Established in 1959 and headquartered in Ranchi, MECON is one of India’s leading engineering, consultancy, project management and contracting organisations. While the company has played a pivotal role in the development of India’s steel sector, it has also diversified its expertise into mining, infrastructure, power, oil and gas, and other core industries.
The government said the decision reflects its continued commitment to empowering high-performing CPSEs through greater autonomy and operational flexibility. The move is aimed at enhancing the efficiency, competitiveness and long-term sustainability of public sector enterprises while enabling them to contribute more effectively to India’s economic growth and infrastructure development.
