India's Finance Minister has granted Numaligarh Refinery (NRL) the prestigious Navratna status, making it the 27th company to receive this distinction.
Navratna status provides the company with greater financial and operational autonomy, allowing it to make larger investment decisions without requiring government approval. NRL, located in Assam and a subsidiary of Oil India, has a refining capacity of three million tonne per year (MTPA) and is undertaking a major expansion to triple its capacity to nine MTPA. This expansion aims to meet growing fuel demand in India's northeast and bolster the region's energy infrastructure.
Operating under the Ministry of Petroleum & Natural Gas, NRL reported a turnover of Rs 25,147 crore and a net profit of Rs 1,608 crore for FY24-25.