Ircon International gets Navratna status

Ircon International Ltd on Thursday said that it has been granted Navratna status.

The term 'Navratna' refers to a select group of top-performing CPSEs that have been granted greater autonomy and financial powers by the Centre in recognition of their superior performance.

''Department of Public Enterprise, vide its letter dated 12th October 2023 has granted the Navratna Status to IRCON,'' the company said in a BSE filing.

IRCON will be the 15th Navratna among the Central Public Sector Enterprises (CPSEs).

IRCON, under the Ministry of Railways, has an annual turnover of Rs 10,750 crore and a net profit of Rs 765 crore (on a consolidated basis), and annual turnover of Rs 10,262 crore and a net profit of Rs 777 crore (on a standalone basis) for FY23.

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