The Ministry of Steel has approved the grant of Miniratna Category-I status to MECON Limited, a Schedule ‘A’ Central Public Sector Enterprise (CPSE) under its administrative control. This designation follows MECON's achievement of significant financial milestones, including reporting continuous profits for three consecutive financial years. The company 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. Additionally, MECON reported a positive net worth of ₹535.42 crore as of 31 March 2026, meeting the eligibility criteria prescribed by the Department of Public Enterprises (DPE) for Miniratna Category-I status.
The Miniratna Category-I status grants enhanced financial and operational autonomy to MECON's Board of Directors. This enhanced delegation of powers will enable the company to undertake investments, modernization initiatives, technological upgradation, and business expansion projects with greater flexibility and speed, supporting its future growth trajectory.
MECON Limited, established in 1959 and headquartered in Ranchi, is described as one of India's premier engineering, consultancy, project management, and contracting organizations. The company has made significant contributions to the development of the country's steel sector and has diversified its operations into mining, infrastructure, power, oil & gas, and other core sectors of the economy. The government's decision underscores its commitment to empowering high-performing CPSEs through enhanced autonomy, aiming to strengthen public sector enterprises, improve their efficiency and competitiveness, and enable them to play a greater role in India's economic growth and infrastructure development.