Miniratna Category-I status to three Defence Public Sector Undertakings

• Defence Minister Rajnath Singh has conferred Miniratna Category-I status to three Defence Public Sector Undertakings.

• These are Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL) and India Optel Limited (IOL).

• This recognition reflects their transformation into profitable corporations within three years.

• These companies were earlier part of the state-run Ordnance Factory Board (OFB).

• They achieved Miniratna status through strong financial growth and increased indigenisation.

• MIL increased its revenue from Rs 2571.6 crore in FY 2021-22 (H2) to Rs 8282 crore in FY 2024-25 (Provisional).