Rajnath Singh grants Miniratna-I status to Yantra India, boosting autonomy of defence PSU

New Delhi, February 3. Defence Minister Rajnath Singh has approved the grant of Miniratna Category-I status to Yantra India Limited (YIL), marking a significant milestone in the transformation of the defence public sector undertaking (DPSU) from a government organisation into a profitable corporate entity within just four years.

Congratulating the company, Singh expressed satisfaction over YIL’s improved financial performance, higher turnover, increased indigenisation, and achievement of key benchmarks required for the Miniratna-I classification. The status reflects the progress made by the DPSU since its inception following the corporatisation of the Ordnance Factory Board (OFB) in October 2021.

YIL has reported strong growth in recent years, with sales rising from Rs. 956.32 crore ($106 million) in the second half of 2021-22 to Rs 3,108.79 crore ($345 million) in FY 2024-25. The company has also made significant inroads into exports, growing from zero exports in 2021-22 (H2) to Rs. 321.77 crore in FY 2024-25. Its product portfolio includes carbon fibre composites, assemblies for medium and large calibre ammunition, armoured vehicles, artillery guns, main battle tanks, glass composites, and aluminium alloys.

With Miniratna-I status, YIL’s board will now have greater financial autonomy, allowing it to approve capital expenditure of up to Rs. 500 crore for new projects, modernisation, and equipment purchases without seeking prior government approval. The enhanced autonomy is expected to accelerate the company’s growth and strengthen its role in defence production and exports.

Yantra India is one of the seven new DPSUs created after the OFB was reorganised to improve efficiency, innovation, and functional autonomy in defence manufacturing. It operates as a Schedule ‘A’ DPSU under the Department of Defence Production. In May 2025, Miniratna-I status was accorded to three other DPSUs formed from the OFB – Munitions India Limited, Armoured Vehicles Nigam Limited, and India Optel Limited.

The latest decision reinforces the government’s push for ‘Aatmanirbhar Bharat’ (Self-reliant India) in defence, aimed at reducing import dependence, expanding indigenous manufacturing capabilities, encouraging industry participation, and positioning India as a global hub for defence production.