Analysis of Central Public Sector

Enterprises

NAME PRN
GOURAV MOHITE 22020841120
JAYANTO KUNDU 22020841110
DIGVIJAYSINGH PATIL 22020841104
RAHUL SIRCAR 22020841127
 Analysis of CPSE’s

Table of Contents

1. Project Completion Details................................................................................3

1.1. Abstract.......................................................................................................3
1.2. Importance of CPSE’s ...............................................................................3
1.3. Objectives....................................................................................................3
1.4. Methodology................................................................................................4
2. Classification of CPSE’s.................................................................................5
2.1 Revenue-wise classification of CPSEs and analysis...................................7
2.2. Schedule-wise Classification and analysis................................................8
2.3. Industry-wise Classification and analysis.................................................8
3. Analysis of CPSEs as a whole....................................................................9
3.1. Linear Forecasting and Trend analysis………......................................15
3.2. Revenue Projection and Justification......................................................16
3.3. Conclusion………………………………………………………………18

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 Analysis of CPSE’s

1.Project Completion Details

1.1 Abstract
This project report provides an overview of Central Public Sector
Enterprises (CPSEs) in India. The report begins with a brief history of CPSEs and
their evolution in the Indian economy. It then goes on to analyse the current state
of CPSEs, including their performance, financial status, and role in the Indian
economy. The report also examines the challenges faced by CPSEs, such as
competition from private sector firms and the need for modernization and
technological advancement. Furthermore, the report analyses the government's
policies and initiatives aimed at supporting and reviving CPSEs. The report
concludes by highlighting the importance of CPSEs in the Indian economy and the
need for continued support and reform to ensure their sustainability and success in
the future.
Central Public Sector Enterprises (CPSEs) are government-owned companies in
India that operate in various industries such as heavy engineering, energy,
telecommunications, and transportation. These enterprises play a crucial role in the
country's economy and are an important source of employment, revenue, and
infrastructure development.
CPSEs are responsible for implementing the government's policies and programs
in their respective sectors. They also contribute to the country's exports and foreign
exchange earnings, and provide essential goods and services at reasonable prices to
the general public. Furthermore, they play a key role in the country's industrial
development and modernization, particularly in heavy industries such as steel,
cement, and power.
In addition, CPSEs also contribute to the country's social and economic
development through Corporate Social Responsibility (CSR) activities. They
undertake various initiatives to support education, healthcare, and other welfare
activities for the underprivileged section of the society

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1.2 Importance of CPSE’s

CPSEs are a vital part of India's economy and play a critical role in the country's
development and progress. They are the backbone of the country's infrastructure
and provide essential goods and services to the public. They also contribute to the
country's industrial development, exports, and social and economic development.
Central Public Sector Enterprises (CPSEs) are major contributors to India's
Gross Domestic Product (GDP). According to data from the Ministry of Heavy
Industries and Public Enterprises, the total revenue generated by CPSEs in the
financial year 2019-2020 was around Rs. 17.99 lakh crores, which represents a
significant portion of the country's GDP.

CPSEs also make a significant contribution to the country's exports and foreign
exchange earnings. In the financial year 2019-2020, the total exports from CPSEs
were around Rs. 1.89 lakh crores. This includes exports from heavy industries such
as steel, cement, and power, as well as from other sectors such as
telecommunications and transportation.

Furthermore, CPSEs also make a significant contribution to the country's

employment generation. As of March 2020, the total number of employees in
CPSEs was around 2.4 million. This includes direct and indirect employment, and
highlights the important role that CPSEs play in providing employment
opportunities in the country.
Additionally, CPSEs also contribute to the country's social and economic
development through Corporate Social Responsibility (CSR) activities. They
undertake various initiatives to support education, healthcare, and other welfare
activities for the underprivileged section of the society

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1.3 Objectives.

To analyze performance of different CPSE companies in the last 10 years using

different methods such as regression (for forecasting),different classification
methods and revenue projection and justification.

1.4 Methodology.

We used a python script for assembling all years of CPSE company’s’ turnover
data in one excel sheet.

We used the concept of ‘outer join’ to compile and merge all the years’ data in one
single dataframe and then output it to a new excel sheet using company name as
the ‘key’.

The code used in this task are in the snippets below:

import pandas as pd
w14=pd.read_excel('13-14.xls')
w15=pd.read_excel('14-15.xls')
w16=pd.read_excel('15-16.xls')
w17=pd.read_excel('16-17.xls')
w18=pd.read_excel('17-18.xlsx')
w19=pd.read_excel('18-19.xlsx')
w20=pd.read_excel('19-20.xlsx')
w21=pd.read_excel('20-21.xlsx')
w22=pd.read_excel('21-22.xlsx')

#z=pd.concat([w14,w15,w16,w17,w18,w19,w20,w21,w22])

#z.columns=['Index','Company name','2013-14','2014-15','2015-16','2016-17','2017-
18','2018-19','2019-20','2020-21','2021-22']

#z=z.reset_index(drop=True)
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#print(z[:50])

#w14.drop()
w14 = w14.drop(w14.columns[[1,2]],axis = 1)
w14 = w14.drop([0,1,2,3])
w14.reset_index(drop=True)
w14.columns=['Company Name','Net Turnover/Revenue']
w14

Output:

Company Name Net Turnover/Revenue

INDIAN OIL CORPORATION LTD. 49711413

BHARAT PETROLEUM CORPN. LTD. 27103735

HINDUSTAN PETROLEUM CORPN. LTD. 23242301

FOOD CORPN. OF INDIA 12259597

OIL & NATURAL GAS CORPORATION LTD. 8420278

LTD. 1 [222 rows x 2 columns]

Explanation:

So, in the code above we read each excel file containing

turnover data for different years for each CPSE company
involved in our analysis. We then clean all the excel files
as it will be later necessary for merging the data files.

df21to22 = pd.merge(w21, w22, on="Company Name", how="outer")

df21to22

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Output:

Company Name Net Turnover/Revenue

INDIAN OIL CORPORATION LTD. 51489047

BHARAT PETROLEUM CORPN. LTD. 30186498

HINDUSTAN PETROLEUM CORPN. LTD. 27032632

FOOD CORPN. OF INDIA 24174741

NTPC LTD. 9920672

Explanation:

We merged the 2021-22 and 2020-21 year’s dataframe.We used

this merged dataframe and combined with 2019-20 year’s
dataframe and so on till 2013-14 year’s dataframe(as shown
in the code below).

df19to22= pd.merge(w19, df20to22, on="Company Name", how="outer")

df18to22= pd.merge(w18, df19to22, on="Company Name", how="outer")
………………….
df14to22= pd.merge(w14, df15to22, on="Company Name", how="outer")
data=df14to22
data.columns=['Company Name','Net Turnover 2013-14','Net Turnover 2014-15','Net
Turnover 2015-16','Net Turnover 2016-17','Net Turnover 2017-18','Net Turnover
2018-19','Net Turnover 2019-20','Net Turnover 2020-21','Net Turnover 2021-22']
print(data)
data.to_excel("fm_data.xlsx")

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Output (Net turnover in lakhs):

Explanation:
We get the final data frame after merging all the individual data frames using
‘outer join’ and we output it to a new excel sheet called ‘fm_data.xlsx’.

2. Classification of CPSE’s

2.1. Revenue wise Classification and analysis.

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Maharatnas - These are CPSEs that have been identified as "Maharatna" by

the Government of India. They are considered to be the "jewels" of the
Indian public sector and are given even greater autonomy and financial
flexibility to operate. They also have a minimum net worth of Rs. 5,000
crore and an average annual turnover of Rs. 15,000 crore for the last three
years.
Net Turnover
Maharatna CPSEs 2021-22

1 Bharat Heavy Electricals Limited 2121109

2 Bharat Petroleum Corporation Limited 43340648
3 Coal India Limited 113192
4 GAIL India Limited 9164572
5 Hindustan Petroleum Corporation Limited 37389674
6 Indian Oil Corporation Limited 72845994
7 NTPC Limited 11613733
8 Oil & Natural Gas Corporation Limited, 11034540
9 Power Finance Corporation 3854540
10 Power Grid Corporation of India Limited 3992809
11 Rural Electrification Corporation Limited
12 Steel Authority of India Limited 10347332

Navaratnas - These are CPSEs that have been identified as "Navratna" by the
Government of India. They are considered to be the most profitable and
professionally managed CPSEs and are given greater autonomy and financial
flexibility to operate. They also have a minimum net worth of Rs. 1,000 crore and
an average annual turnover of Rs. 5,000 crore for the last three years.

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Net Turnover
Navratna CPSEs 2021-22
1 Bharat Electronics Limited 1531376
2 Container Corporation of India Limited 759445
3 Engineers India Limited 287040
4 Hindustan Aeronautics Limited 2462021
5 Mahanagar Telephone Nigam Limited 106972
6 National Aluminium Company Limited 1418081
7 National Buildings Construction Corporation Limited
8 Neyveli Lignite Corporation Limited
9 NMDC Limited 2588173
10 Oil India Limited 1453018
11 Rashtriya Ispat Nigam Limited 2835935
12 Shipping Corporation of India Limited 499455

Miniratnas - These are CPSEs that have been identified as "Miniratna" by the
Government of India. They are considered to be professionally managed CPSEs
and are given some autonomy and financial flexibility to operate. They also have a
minimum net worth of Rs. 500 crore and an average annual turnover of Rs. 1,000
crore for the last three years.

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Net Turnover
Miniratna I CPSEs 2021-22
1. Airports Authority of India 633372
2. Antrix Corporation Limited 18165
3. Balmer Lawrie & Co. Limited 204245
4. Bharat Coking Coal Limited 1012786
5. Bharat Dynamics Limited 281740
6. BEML Limited 433749
7. Bharat Sanchar Nigam Limited 1680922
8. Braithwaite & Company Limited 76414
9. Bridge & Roof Company (India) Limited 319517
10. Central Warehousing Corporation 213056
11. Central Coalfields Limited 1348642
12. Central Mine Planning & Design Institute Limited 120843
13. Chennai Petroleum Corporation Limited 6047429
14. Cochin Shipyard Limited 319001
15. Cotton Corporation of India Ltd. 2356524
16. EdCIL (India) Limited 42800
17. Garden Reach Shipbuilders & Engineers Limited 175752
18. Goa Shipyard Limited 74035
19. Hindustan Copper Limited 182193
20. Hindustan Steelworks Construction Limited 52894
21. HLL Lifecare Limited 3566867
22. Hindustan Paper Corporation Limited
23. Housing & Urban Development Corporation Limited 695408
24. HSCC (India) Limited 136065
25. India Tourism Development Corporation Limited 28482
26. Indian Rare Earths Limited
27. Indian Railway Catering & Tourism Corporation Limited 187948
28. Indian Railway Finance Corporation Limited 2029827
29. Indian Renewable Energy Development Agency Limited 285990
30. India Trade Promotion Organization 3054
31. IRCON International Limited 17084
32. KIOCL Limited 300645
33. Mazagaon Dock Shipbuilders Limited 573328
34. Mahanadi Coalfields Limited 2181219
35. MOIL Limited 143630
36. Mangalore Refinery & Petrochemical Limited 8606368
37. Mineral Exploration Corporation Limited 22192
38. Mishra Dhatu Nigam Limited 85949
39. MMTC Limited 839329
40. MSTC Limited 47064

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Net
Miniratna I CPSEs Turnover
2021-22
40. MSTC Limited 47064
41. National Fertilizers Limited 1585709
42. National Projects Construction Corporation Limited 143210
43. National Small Industries Corporation Limited 262251
44. National Seeds Corporation 88580
45. NHPC Limited 835380
46. Northern Coalfields Limited 1898604
47. North Eastern Electric Power Corporation Limited 320684
48. Numaligarh Refinery Limited 2354701
49. ONGC Videsh Limited 1779820
50. Pawan Hans Helicopters Limited 38513
51. Projects & Development India Limited 9886
52. Railtel Corporation of India Limited 152154
53. Rail Vikas Nigam Limited 1938171
54. Rashtriya Chemicals & Fertilizers Limited 1281217
55. RITES Limited 257516
56. SJVN Limited 242196
57. Security Printing and Minting Corporation of India Limited 408663
58. South Eastern Coalfields Limited 2047635
59. Telecommunications Consultants India Limited 158119
60. THDC India Limited 192149
61. Western Coalfields Limited 1379163
62. WAPCOS Limited 137373

Net
Miniratna II CPSEs Turnover
2021-22
1. Artificial Limbs Manufacturing Corporation of India 32743
2. Bharat Pumps & Compressors Limited
3. Broadcast Engineering Consultants India Limited 74434
4. Central Railside Warehouse Company Limited 12676
5. Engineering Projects (India) Limited 73617
6. FCI Aravali Gypsum & Minerals India Limited 4144
7. Ferro Scrap Nigam Limited 40554
8. HMT (International) Limited 1091
9. Indian Medicines & Pharmaceuticals Corporation Limited 26084
10. MECON Limited 60275
11. National Film Development Corporation Limited 6887
12. Rajasthan Electronics & Instruments Limited 16491

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2.2. Schedule wise Classification and analysis.

Schedule A: CPSEs operating in the atomic energy sector. This includes

companies involved in the production and distribution of atomic energy, as well as
the research and development of nuclear technology.

Schedule B: CPSEs operating in the railway sector. This includes companies

involved in the construction and maintenance of railway infrastructure, as well as
the production and supply of railway equipment.

Schedule C: CPSEs operating in the defense production sector. This includes

companies involved in the production and supply of defense equipment and
weapons systems, as well as research and development related to defense
technology.

Schedule D: CPSEs operating in the telecommunications sector. This includes

companies involved in the production and supply of telecommunications
equipment and services, as well as research and development related to
telecommunications technology.

Schedule E: CPSEs operating in the power sector. This includes companies

involved in the production and distribution of electricity, as well as the
construction and maintenance of power plants and transmission infrastructure.

Schedule F: CPSEs operating in the oil and natural gas sector. This includes
companies involved in the exploration, production, and distribution of oil and
natural gas, as well as the construction and maintenance of related infrastructure.

Schedule G: CPSEs operating in other miscellaneous sectors, such as mining,

cement, fertilizers, etc. This includes companies involved in a wide range of
industries that do not fit into any of the other schedules.

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2.3. Industry wise Classification and analysis.

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 Heavy Engineering and Metal Products

 Power Generation and Distribution

 Oil and Gas Exploration and Refining

 Mining and Minerals

 Telecommunications

 Aviation

 Defense Production

 Pharmaceuticals

 Fertilizers

 Chemicals

 Shipping and Transport

 Railways

 Agriculture and Food Processing

 Electronics and Information Technology

 Space and Atomic Energy

 Infrastructure Development.

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3.Analysis of CPSE’s as a whole.

Central Public Sector Enterprises (CPSEs) are major contributors to India's Gross
Domestic Product (GDP). According to data from the Ministry of Heavy Industries
and Public Enterprises, the total revenue generated by CPSEs in the financial year
2019-2020 was around Rs. 17.99 lakh crores, which represents a significant
portion of the country's GDP.

CPSEs also make a significant contribution to the country's exports and foreign
exchange earnings. In the financial year 2019-2020, the total exports from CPSEs
were around Rs. 1.89 lakh crores.

CPSEs also make a significant contribution to the country's employment

generation. As of March 2020, the total number of employees in CPSEs was
around 2.4 million. This includes direct and indirect employment

As per the data financial year 2013-2014, the total revenue generated by CPSEs
was around Rs. 10.2 lakh crores, which represented a significant portion of the
country's GDP. Over the next few years, the total revenue generated by CPSEs
increased, with the highest revenue generated in the financial year 2017-2018 at
around Rs. 19.4 lakh crores. However, in the financial year 2018-2019 and 2019-
2020, the total revenue generated by CPSEs decreased to around Rs. 17.8 lakh
crores and Rs. 17.99 lakh crores respectively.

It is important to note that this decrease in revenue is due to a variety of factors

such as global economic slowdown, domestic economic challenges, and the impact
of the COVID-19 pandemic. Despite this, CPSEs continued to make a significant
contribution to the country's GDP over the last 9 years. In terms of revenue, CPSEs
have generally seen an increase over the last 10 years. For example, the total
revenue of CPSEs increased from around Rs. 8 lakh crores in 2010-2011 to around
Rs. 17.99 lakh crores in 2019-2020. However, there has been some fluctuation in
revenue in recent years, with a decrease in revenue in the financial year 2018-2019
and 2019-2020 due to various factors such as global economic slowdown and the
impact of the COVID-19 pandemic.

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CPSEs have also faced various financial challenges such as increasing competition
from private sector players, fuel supply constraints, and low plant load factors.
Despite these challenges, many CPSEs have been working towards improving their
financial performance by implementing cost-cutting measures, increasing
efficiency, and diversifying their business operations

3.1 Linear Forecasting and Trend Analysis.

Linear Forecasting –
Linear forecasting is a method of using historical data to predict future
outcomes. It is based on the assumption that the relationship between the
independent variable (x) and the dependent variable (y) is linear, meaning it can
be represented by a straight line. Linear forecasting is often used in time series
analysis, where historical data is collected and analyzed over a period of time.

Trend Analysis –
Trend analysis, on the other hand, is the study of patterns in data over time. It is
used to identify trends and patterns in data, such as changes in mean values or
patterns of fluctuations. The goal of trend analysis is to understand how the data
behaves over time and to make predictions about future behavior based on that
understanding. Linear forecasting is one method of trend analysis, but there are
also other methods such as moving averages, exponential smoothing, and time
series decomposition.

We have used FORECAST.LINEAR to predict the revenue for 2023.

Equation for linear regression:

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3.2 Revenue projection and justification.

  Company Name Forecast 2023

     
1 INDIAN OIL CORPORATION LTD. 65555018.42
2 BHARAT PETROLEUM CORPN. LTD. 38827820.81
3 HINDUSTAN PETROLEUM CORPN. LTD. 34159496.42
4 FOOD CORPN. OF INDIA 22952507.14
5 OIL & NATURAL GAS CORPORATION LTD. 9868840.778
6 MANGALORE REFINERY & PETROCHEMICALS LTD. 6805740.083
7 NTPC LTD. 11456140.5
8 GAIL (INDIA) LTD. 7929053.389
9 CHENNAI PETROLEUM CORPORATION LTD. 5112484.083
10 STEEL AUTHORITY OF INDIA LTD. 8784791.75
11 BHARAT HEAVY ELECTRICALS LTD. 1657912.194
12 BHARAT SANCHAR NIGAM LTD. 1432633.389
13 M M T C LTD. 2024519.583
14 SOUTH EASTERN COALFIELDS LTD. 1811381.972
15 ONGC VIDESH LTD. 1417986.444
16 POWER FINANCE CORPORATION LTD. 3955204.333
17 AIR INDIA LTD. 1960475.869
18 RURAL ELECTRIFICATION CORPN. LTD. 3098027.2
19 STATE TRADING CORPN. OF INDIA LTD. -196919.5714

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20 POWER GRID CORPORATION OF INDIA LTD. 4512738

21 HINDUSTAN AERONAUTICS LTD. 2507297.056
22 RASHTRIYA ISPAT NIGAM LTD. 2451163.389
23 NMDC Ltd. 1944501.722
24 MAHANADI COALFIELDLS LTD. 1961939.429
25 CENTRAL COALFIELDS LTD. 1294751.583
26 BHARAT COKING COAL LTD. 824790.1111
27 P E C LTD. -293652.6905
28 NORTHERN COALFIELDS LTD. 1922932.028
29 NUMALIGARH REFINERY LTD. 2246563.722
30 OIL INDIA LTD. 1302543.111
31 EASTERN COALFIELDS LTD. 1226208.333
32 NUCLEAR POWER CORPN. OF INDIA LTD. 1552565.028
33 NATIONAL FERTILIZERS LTD. 1517279.167
34 AIRPORTS AUTHORITY OF INDIA 846685.9444
35 NATIONAL ALUMINIUM COMPANY LTD. 1232801.444
36 WESTERN COALFIELDS LTD. 1227422.278
37 RASHTRIYA CHEMICALS AND FERTILIZERS LTD. 943778.9048
38 BHARAT ELECTRONICS LTD. 1644840.056
39 INDIAN RAILWAY FINANCE CORPORATION LTD. 1944490.333
40 NEYVELI LIGNITE CORPN. LTD.  
41 NHPC LTD. 918223.0556
42 M S T C LTD. -65693.02778
43 CONTAINER CORPORATION OF INDIA LTD. 745754.1667
44 COTTON CORPN. OF INDIA LTD. -116151.2
45 SHIPPING CORPORATION OF INDIA LTD. 428066.2222
46 NATIONAL BLDG. CONSTN. CORPN. LTD.  
47 IRCON INTERNATIONAL LTD. 625013.5556
48 SECURITY PRINTING & MINTING CORPN. INDIA LTD. 491145.8056
49 INDIA INFRASTRUCTURE FINANCE CO. LTD. 342921.4167
50 NTPC VIDYUT VYAPAR NIGAM LTD. 444952.8056
51 MAHANAGAR TELEPHONE NIGAM LTD. 68054
52 Bharat Earth Movers Limited (BEML) 388398.4444
53 HOUSING & URBAN DEV. CORPN. LTD. 812687.2778
54 MAZAGON DOCK LTD.  
55 BALMER LAWRIE & CO. LTD. 130415.5
56 MADRAS FERTILIZERS LTD. 157821.9444
57 HANDICRAFTS & HANDLOOM EXPORTS CORP. OF INDIA LTD. -182345.8571
58 RAIL VIKAS NIGAM LTD. 1993043.194
59 AIR INDIA CHARTERS LTD.  
60 FERTILIZERS & CHEMICALS (TRAVANCORE) LTD. 369001.5833

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61 NATIONAL SMALL INDUSTRIES CORPN. LTD. 233436.6111

62 THDC INDIA LTD. 201428.3611
63 NATIONAL HANDLOOM DEVELOPMENT CORPORATION LTD. 47320.66667
64 NHDC LTD. 74957.11111
65 ENGINEERS INDIA LTD. 326113.1944
66 SJVN LTD. 266617.8056
67 BHARAT DYNAMICS LTD. 302964.0833
68 COCHIN SHIPYARD LTD. 354823.1944
69 HINDUSTAN COPPER LTD. 168528.6944
70 GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. 135815.6111
71 KIOCL LTD. 286693.4722
72 ANTRIX CORPORATION LTD. 63710.77778
73 ELECTRONICS CORPN. OF INDIA LTD. 185072.9167
74 CENTRAL WAREHOUSING CORPN. 203740.0278
75 BRIDGE & ROOF CO.(INDIA) LTD. 356966.5278
76 HINDUSTAN STEELWORKS COSTN. LTD. 23265.27778
77 NORTH EASTERN ELECTRIC POWER CORPORATION LTD. 288984.1389
78 KONKAN RAILWAY CORPORATION LTD. 310048.8056
79 NATIONAL PROJECTS CONSTRUCTION CORPN. LTD. 126781.0556
80 RITES LTD. 256268.8611
81 NATIONAL TEXTILE CORPN. LTD. 28540.83333
82 MOIL LTD. 142731.1389
83 GAIL GAS LTD. 710714.0833
84 INDIAN RENEWABLE ENERGY DEVT.AGENCY LTD. 306283.3889
85 HLL LIFECARE LTD. 1816540.194
86 INDIAN RAILWAY CATERING AND TOURISM CORPN. LTD. 188981.8889
87 EXPORT CREDIT GUARANTEE CORPN.OF INDIA LTD.  
88 WAPCOS LTD. 153142.7778
89 ENGINEERING PROJECTS (INDIA) LTD. 115604.2222
90 TELECOMMUNICATIONS CONSULTANTS (INDIA) LTD. 210619.9524
91 URANIUM CORPORATION OF INDIA LTD. 290815.5278
92 I T I LTD. 245824.9167
93 DREDGING CORPN. OF INDIA LTD. 31547.5
94 NATIONAL SEEDS CORPN. LTD. 107285.8611
95 HINDUSTAN PAPER CORPORATION LTD. -10977.8
96 CENTRAL MINE PLANNING & DESIGN INSTITUTE LTD. 155430.0556
97 MISHRA DHATU NIGAM LTD. 84997.30556
98 NATIONAL INFORMATICS CENTRE SERVICES INCORPORATED 152571.1667
99 PAWAN HANS LTD. 32122.5
100 GOA SHIPYARD LTD. 99588.33333
101 KAMARAJAR PORT LTD. 83527.90476

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102 BRAHMAPUTRA VALLEY FERTILIZER CORPN. LTD. 22995.41667

103 RAILTEL CORPORATION INDIA LTD. 158448.6389
104 INDIA TOURISM DEV. CORPN. LTD. 21559
105 HINDUSTAN SHIPYARD LTD. 70512.30556
106 HEAVY ENGINEERING CORPN. LTD. 15567.77778
107 INDIAN RARE EARTHS LTD. 69917.5
108 ANDREW YULE & COMPANY LTD. 33887.08333
109 MECON LTD. 71502.38889
110 BRAITHWAITE & CO. LTD. 69557.75
111 CEMENT CORPN. OF INDIA LTD. 33868.05556
112 HINDUSTAN NEWSPRINT LTD. 8868.52381
113 COAL INDIA LTD. 105828.7778
114 HINDUSTAN INSECTICIDES LTD. 42787
115 BRAITHWAITE BURN & JESSOP CONSTRUCTION COMPANY LTD. 5347.138889
116 BURN STANDARD COMPANY LTD. 14287.3
117 KARNATAKA ANTIBIOTICS & PHARMACEUTICALS LTD. 50150.77778
118 BHARAT HEAVY PLATE & VESSELS LTD.  
119 HINDUSTAN ORGANIC CHEMICALS LTD. 46500.33333
120 INDIA TRADE PROMOTION ORGANISATION 4455.638889
121 FERRO SCRAP NIGAM LTD. 42902.69444
122 AIRLINE ALLIED SERVICES LTD. 121317.5524
123 RAJASTHAN ELECTRONICS AND INSTRUMENTS LTD. 15215.86111
124 POWER SYSTEM OPERATION CORPORATION LTD. 31676.58333
125 THE JUTE CORPN. OF INDIA LTD. 12454.66667
126 SCOOTERS INDIA LTD. -2935.785714
127 MINERAL EXPLORATION CORPN. LTD. 40001.13889
128 HINDUSTAN PREFAB LTD. 12591.25
129 HMT MACHINE TOOLS LTD. 16906.77778
130 BHARAT IMMUNOLOGICALS & BIOLOGICALS CORP. LTD. 4197.305556
131 BEL OPTRONICS DEVICES LTD. 4425.888889
132 CENTRAL ELECTRONICS LTD. 29265.05556
133 ARTIFICIAL LIMBS MFG. CORPN. OF INDIA 35883.55556
134 KANTI BIJLEE UTPADAN NIGAM LTD. 202519.3889
135 INSTRUMENTATION LTD. 3244.888889
136 BHARAT PUMPS & COMPRESSORS LTD. 1633.428571
137 SAIL REFRACTORY COMPANY LTD. 19459.83333
138 HPCL BIOFUELS LTD. 24997.05556
139 NEPA LTD. -2138.944444
140 NATIONAL FILM DEV. CORPN. LTD. 15669
141 AIR INDIA AIR TRANSPORT SERVICES LTD. 101813.4286
142 STCL LTD. -71865

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143 CENTRAL RAILSIDE WAREHOUSE CO. LTD. 10352.61111

144 FCI ARAVALI GYPSUM & MINERALS (INDIA) LTD. 2412.777778
145 FRESH & HEALTHY ENTERPRISES LTD. -1941.916667
146 CENTRAL COTTAGE INDUSTRIES CORPN. OF INDIA LTD. 2196.361111
147 HMT LTD. -176.3888889
148 REC POWER DISTRIBUTION CO. LTD. 21334.14286
149 EdCIL(India) Ltd. 46366.83333
150 BROADCAST ENGG. CONSULTANTS INDIA LTD. 69241.61111
151 RICHARDSON & CRUDDAS(1972) LTD. 1346.138889
152 INDIAN DRUGS & PHARMACEUTICALS LTD. 1222.2
153 PROJECTS & DEVELOPMENT INDIA LTD. 13291.41667
154 NATIONAL JUTE MANUFACTURES CORPORATION LTD. -7317.1
155 BHARAT WAGON & ENGG. CO. LTD. -5271.4
156 NORTH EASTERN REGIONAL AGRI. MARKETING CORP.LTD. -172.8611111
157 HOTEL CORPN. OF INDIA LTD. 3513.583333
158 MUMBAI RAILWAY VIKAS CORPORATION LTD. 5733.111111
159 NATIONAL SCHEDULED CASTES FINANCE & DEVP. CORPN. 6902.027778
160 PFC CONSULTING LTD. 9634.888889
161 RAJASTHAN DRUGS & PHARMACEUTICALS LTD. 3398.1
162 BIECCO LAWRIE LTD.  
163 GOA ANTIBIOTICS & PHARMACEUTICALS LTD. 3483.964286
164 HSCC (INDIA) LTD. 221212.9722
165 CONCOR AIR LTD. 5261.611111
166 BHEL ELECTRICAL MACHINES LTD. 1023.714286
167 VIGNYAN INDUSTRIES LTD. 2373.833333
168 INDIAN MEDICINES & PHARMACEUTICAL CORPN. LTD. 21684.38889
169 NATIONAL MINORITIES DEVP. & FINANCE CORPORATION 9000.944444
170 NATIONAL BACKWARD CLASSES FINANCE & DEVP.CO. 5611.388889
171 HINDUSTAN FLUOROCARBONS LIMITED 4820.5
172 IRCON INFRASTRUCTURE & SERVICES LTD. 18494.5
173 REC TRANSMISSION PROJECTS CO. LTD. 5345.714286
174 TAMIL NADU TRADE PROMOTION ORGANISATION 1839.611111
175 HINDUSTAN ANTIBIOTICS LTD. 9675.527778
176 THE BISRA STONE LIME COMPANY LTD. 8386.194444
177 NTPC ELECTRIC SUPPLY COMPANY LTD. -7386
178 CERTIFICATION ENGINEERS INTERNATIONAL LTD. 5589.111111
179 HMT (INTERNATIONAL) LTD. 3309.777778
180 PFC GREEN ENERGY LTD. 14030.4
181 BENGAL CHEMICALS & PHARMACEUTICALS LTD. 8809.416667
182 HMT BEARINGS LTD. -1543.297297
183 SAMBHAR SALTS LTD. 3359.277778

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184 NATIONAL SCHEDULED TRIBES FINANCE & DEVP. CORPN. 4604.722222

185 ORISSA DRUGS & CHEMICALS LTD. 1903.9
186 IDPL (TAMILNADU) LTD. 145.6071429
187 NORTH EASTERN HANDICRAFTS & HANDLOOM DEV.CORPN. LTD. 67.58333333
188 HMT WATCHES LTD. -433.3396226
189 BHARAT BHARI UDYOG NIGAM LTD. -5796
190 NATIONAL SAFAI KARAMCHARIS FINANCE & DEVPT. CORPN 1214.222222
191 HOOGHLY PRINTING COMPANY LTD. -89.78095238
192 PRIZE PETROLEUM COMPANY LTD. 593.4722222
193 ASSAM ASHOK HOTEL CORPN. LTD. 464.5
194 NATIONAL HANDICAPPED FINANCE & DEVPT. CORPN. 1188.666667
195 HINDUSTAN SALTS LTD. 1595.083333
196 DELHI POLICE HOUSING CORPORATION LTD. -90.75
197 MADHYA PRADESH ASHOK HOTEL CORPN. LTD. 821.5
198 NATIONAL RESEARCH DEVELOPMENT CORPN. 1079.861111
199 PFC CAPITAL ADVISORY SERVICE LTD. -718
200 KUMARAKRUPPA FRONTIER HOTELS LTD. 1543.3
201 ANDAMAN & NICOBAR ISL. FOREST & PLANT.DEV.CORP.LTD 81.3
202 KARNATAKA TRADE PROMOTION ORGANISATION 40.91666667
203 TYRE CORPORATION OF INDIA LTD.  
204 HINDUSTAN PHOTO FILMS MANUFACTURING CO. LTD. -2983
205 SOLAR ENERGY CORPORATION OF INDIA 722974.9722
206 IRRIGATION & WATER RESOURCES FINANCE CORPORATION LTD. 9587
207 DONYI POLO ASHOK HOTEL LTD. 277.6
208 RANCHI ASHOK BIHAR HOTEL CORPN. LTD. -137.2571429
209 PONDICHERRY ASHOK HOTEL CORPN. LTD. 674.7777778
210 CENTRAL INLAND WATER TRANSPORT CORPN. LTD. -195.5
211 BRITISH INDIA CORPORATION LTD. -60.9047619
212 TRIVENI STRUCTURALS LTD.  
213 TUNGABHADRA STEEL PRODUCTS LTD. -11
214 BHARAT BROADBAND NETWORK LTD. 3271.694444
215 HMT CHINAR WATCHES LTD. 533.5
216 EASTERN INVESTMENT LTD. 69.51973684
217 RITES INFRASTRUCTURE SERVICES LTD. -2453.2
218 NAGALAND PULP & PAPER COMPANY LTD. -117
219 INDIAN OIL-CREDA BIOFUELS LTD.  
220 HINDUSTAN CABLES LTD.  
221 CREDA HPCL BIOFUEL LTD. 146
222 UTKAL ASHOK HOTEL CORPN. LTD.  
223 MAZAGON DOCK SHIPBUILDERS LTD. 540173.7143
224 EXPORT CREDIT GUARANTEE CORPN.OF INDIA LTD. 112244.4643

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225 AIR INDIA ENGINEERING SERVICES LTD. 160893.8476

226 BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL 68669.75
227 TCIL BINA TOLL ROAD LTD. 402.6785714
228 HOOGHLY DOCK AND PORT ENGINEERS LTD. 19285.57143
229 MILLENNIUM TELECOM LTD. 285.1428571
230 HLL BIOTECH LTD. 44968.03261
231 AGRINNOVATE INDIA LTD. 432.5
232 RAILWAY ENERGY MANAGEMENT COMPANY LTD. 11040.07143
233 NLC INDIA LTD. 887532.4286
234 NBCC (INDIA) LTD. 525152.4286
235 ONGC MANGALORE PETROCHEMICALS LTD. 501514.181
236 NLC TAMIL NADU POWER LTD. 281179.8571
237 PETRONET CCK LTD. 7508.666667
238 NBCC SERVICES LTD. 14716.57143
239 NATIONAL HIGHWAYS & INFRASTRUCTURE DEVELOPMENT CORPN. LTD. 34700.42857
240 HLL INFRA TECH SERVICES LTD. 38339.71429
241 FERTILIZER CORPN. OF INDIA LTD.  
242 IIFCL PROJECTS LTD. 1132.571429
243 RAILTEL ENTERPRISES LTD. 6930.571429
244 IIFCL ASSET MANAGEMENT COMPANY LTD. 646
245 SIDCUL CONCOR INFRA COMPANY LTD. 1842.571429
246 BRAHAMPUTRA CRACKERS & POLYMER LTD. 414838
247 BIRDS JUTE & EXPORTS LTD. 473.3333333
248 AIR INDIA EXPRESS LTD. 322343.4
249 IRCON SHIVPURI GUNA TOLLWAY LTD. 3380.733333
250 PATRATU VIDYUT UTPADAN NIGAM LTD. -91363
251 IRCON PB TOLLWAY LTD. 878.4
252 BHARTIYA RAIL BIJLEE CO. LTD. 330717.2667
253 POWERGRID VIZAG TRANSMISSION LTD. 46161
254 BHARAT PETRO RESOURCES LTD. 13952.06667
255 POWERGRID NM TRANMISSION LTD. 15821
256 INDIA POST PAYMENT BANK LTD  
257 NBCC ENGINEERING AND CONSULTANCY LTD. 68.1
258 POWERGRID UNCHAHAR TRANSMISSION LTD. 3401.666667
259 POWER GRID WARORA TRANSMISSION LTD. 65622.8
260 TCIL LAKHNADONE TOLL ROAD LTD. 629
261 BEL-THALES SYSTEMS LTD. 5288.4
262 JAMMU & KASHMIR DEVELOPMENT FINANCE CORPORATION LTD 339.8666667
263 INDIAN RAILWAY STATIONS DEVPT. CORPORATION LTD.  
264 HIL (INDIA) LTD. 36994.6
265 AAI CARGO LOGISTICS & ALLIED SERVICES COMPANY LTD. 46274.7

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266 CHANDIGARH INTERNATIONAL AIRPORT LTD. 8908.1

267 HIGH SPEED RAIL CORPORATION OF INDIA LTD. -12015
268 POWERGRID KALA AMB TRANSMISSION LTD. 10264.5
269 PUNJAB LOGISTIC INFRASTRUCTURE LTD. 2642.6
270 NAINI AEROSPACE LTD. 626.4
271 REC LTD. 4417157.5
272 THE COTTON CORPN. OF INDIA LTD. 3946517
273 IREL (INDIA) LTD. 158225.5
274 IRCON DAVANAGERE HAVERI HIGHWAY LTD. -5184
275 POWER GRID PARLI TRANSMISSION LTD. 42824
276 POWER GRID JABALPUR TRANSMISSION LTD. 47175
277 POWER GRID SOUTHERN INTERCONNECTOR TRANSMISSION SYSTEM LTD. 70332
278 KUMARAKRUPPA FRONTIER HOTELS PVT. LTD. 375.5
279 NMDC CSR FOUNDATION -336.5
280 HLL MOTHER & CHILD CARE HOSPITALS LTD.  
281 BPCL-KIAL FUEL FARM PVT. LTD. 616
282 IRCON VADODARA KIM EXPRESSWAY LTD. 64233.5
283 LOKTAK DOWNSTREAM HYDROELECTRIC CORPORATION LTD.  
284 VISAKHAPATANAM PORT LOGISTICS PARK LTD. 1859.5
285 NABINAGAR POWER GENERATING COMPANY LTD. 449003.6667
286 ALLIANCE AIR AVIATION LTD. 44587.33333
287 AI AIRPORT SERVICES LTD. 44058.33333
288 KONKAN LNG LIMITED 104203.6667
289 CENTRAL REGISTRY OF SECURITSATION ASSET RECONSTRUCTION AND
SECURITY INTEREST OF INDIA (CERSAI) 8921.333333
290 CHHATTISGARH EAST RAILWAYS LTD. 5207.666667
291 INDIAN PORTS GLOBAL LTD -14
292 AURANGABAD TEXTILES & APPAREL PARKS LTD. 0.666666667
293 BHARAT OMAN REFINERIES LIMITED, 7570307
294 MAHANADI COALFIELDS LTD. 2713205
295 AI ENGINEERING SERVICES LTD. 260380
296 NEWSPACE INDIA LTD. 291687
297 DEDICATED FRIGHT CORRIDOR CORP. OF INDIA LTD. 360841
298 REC POWER DEVELOPMENT & CONSULTANCY LTD. 14963
299 POWERGRID HIMACHAL TRANSMISSION LTD. 11955
300 AIR INDIA ASSETS HOLDING LTD 4249
301 BALMER LAWRIE INVESTMENTS LTD. 5170
302 POWER GRID MEDINIPUR JEERAT TRANSMISSION LTD. 84758
303 INDIA UNITED TEXTILE MILLS LTD. -2151
304 GOLDMOHUR DESIGN & APPAREL PARKS LTD. 7434
305 APOLLO DESIGN APPAREL PARKS LTD. 8016

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306 POWERGRID JAWAHARPUR FIROZABAD TRANSMISSION LTD. 9983

307 POWER GRID MITHILANCHAL TRANSMISSION LTD. 28452
308 HSRC INFRA SERVICES LTD. 2842
309 INLAND & COASTAL SHIPPING LTD. 72

3.3Conclusion
In conclusion, Central Public Sector Enterprises (CPSEs) play a crucial
role in the Indian economy. They contribute to the country's economic
growth, employment generation, and infrastructure development.
However, these enterprises also face several challenges such as
operational inefficiencies, lack of autonomy, and inadequate funding. To
address these challenges, the government has implemented various
policies and initiatives such as the disinvestment policy, the strategic sale
of CPSEs, and the establishment of the Department of Public Enterprise.
Additionally, measures such as the introduction of performance-based
incentives, the delegation of powers to the boards of CPSEs, and the
implementation of the e-governance system have also been taken to
improve the functioning of CPSEs. Despite the challenges, CPSEs
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continue to be an important part of the Indian economy and the

government must continue to take steps to improve their performance and
efficiency.

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