Rajnath Singh Grants Miniratna-I Status to Yantra India Limited

Since its inception, YIL has recorded strong financial growth, with sales rising sharply from ₹956.32 crore in FY 2021–22 (H2) to ₹3,108.79 crore in FY 2024–25.

Raksha Mantri Shri Rajnath Singh has approved the grant of Miniratna Category-I status to Yantra India Limited (YIL), marking a major milestone in the company’s transformation into a profitable and high-performing defence public sector enterprise.

Congratulating YIL, the Defence Minister said the DPSU has made rapid progress since its corporatisation, successfully increasing turnover, maximising indigenisation and meeting key performance benchmarks within a short span of about four years.

Since its inception, YIL has recorded strong financial growth, with sales rising sharply from ₹956.32 crore in FY 2021–22 (H2) to ₹3,108.79 crore in FY 2024–25. Export performance has also improved significantly, growing from nil in FY 2021–22 (H2) to ₹321.77 crore in FY 2024–25.

YIL’s major product portfolio includes carbon fibre composites, aluminium alloys, glass composites, and assembly products for medium and large calibre ammunition, armoured vehicles, artillery guns and main battle tanks (MBTs).

The Miniratna Category-I status empowers YIL’s Board to approve capital expenditure of up to ₹500 crore for new projects, modernisation and procurement of equipment without prior government approval. This enhanced autonomy is expected to accelerate growth, improve operational agility and boost defence production and exports.

The Government had corporatised the erstwhile Ordnance Factory Board (OFB) into seven new DPSUs on 1 October 2021 to enhance efficiency, autonomy and innovation in defence manufacturing. YIL is one of these Schedule ‘A’ DPSUs operating under the Department of Defence Production. In May 2025, Miniratna-I status was granted to Munitions India Limited, Armoured Vehicles Nigam Limited and India Optel Limited.

The decision reinforces the Government’s commitment to Aatmanirbhar Bharat, with a strong focus on indigenous defence manufacturing, research and strategic technologies. It aligns with broader defence reforms aimed at reducing import dependence, strengthening domestic industry participation and positioning India as a global defence manufacturing hub.