In a significant development for India's defence manufacturing sector, Defence Minister Rajnath Singh has granted "Miniratna Category-I status" to Yantra India Limited (YIL). This prestigious recognition marks a pivotal moment in the company's journey towards becoming a profitable and autonomous defence public sector undertaking, as officially announced by the Ministry of Defence on Monday.
Swift Progress and Key Achievements
Rajnath Singh extended his congratulations to Yantra India Limited for its remarkable progress since corporatisation. He specifically highlighted the company's dedicated efforts to increase turnover and advance indigenisation initiatives. These strategic moves have played a crucial role in helping YIL meet the essential performance benchmarks required for Miniratna Category-I recognition.
Impressive Financial Growth Trajectory
Since its formation in late 2021, Yantra India Limited has demonstrated exceptional financial performance. In less than four years, the company's sales have skyrocketed from Rs 956.32 crore in the second half of FY 2021-22 to an impressive Rs 3,108.79 crore in FY 2024-25. Equally noteworthy is the surge in exports, which have grown from zero in FY 2021-22 (H2) to Rs 321.77 crore in FY 2024-25.
Diverse Product Portfolio
Yantra India Limited boasts a comprehensive range of defence products that contribute significantly to national security. The company's offerings include:
- Carbon fibre composites
- Assemblies for medium and large-calibre ammunition
- Armoured vehicles
- Artillery guns
- Main battle tanks
- Glass composites
- Aluminium alloys
Enhanced Financial Autonomy
The grant of Miniratna Category-I status brings substantial benefits to Yantra India Limited. Most importantly, the company's board now has the authority to approve capital expenditure up to Rs 500 crore for various initiatives, including:
- New projects and expansions
- Modernisation of existing facilities
- Equipment procurement and upgrades
This increased financial autonomy eliminates the need for prior government approval for such expenditures, enabling faster decision-making processes. The enhanced flexibility is expected to accelerate YIL's growth in both domestic defence production and international exports.
Historical Context and Formation
Yantra India Limited was established on October 1, 2021, as part of a broader defence sector reform initiative. The company emerged from the corporatisation of the former Ordnance Factory Board, which was restructured into seven new defence public sector undertakings. This strategic move was designed to enhance efficiency, autonomy, and innovation within India's defence manufacturing ecosystem.
As a Schedule 'A' defence public sector undertaking under the Department of Defence Production, YIL occupies a significant position in India's defence industrial landscape. The company's elevation to Miniratna Category-I status follows a similar pattern established in May 2025, when Defence Minister Rajnath Singh granted the same recognition to three other defence public sector undertakings: Munitions India Limited, Armoured Vehicles Nigam Limited, and India Optel Limited.
The Miniratna Category-I status represents more than just a formal recognition—it symbolizes Yantra India Limited's growing importance in India's self-reliance journey in defence manufacturing. With enhanced financial powers and operational autonomy, the company is well-positioned to contribute more substantially to national security objectives while expanding its global footprint in defence exports.
