Nagpur-headquartered Yantra India Ltd is now a ‘Miniratna’

 

 

Yantra India Limited (YIL) has been awarded with ‘Miniratna’ Category-I status by Defence Minister Rajnath Singh on Monday. Congratulating the Defence Public Sector Undertaking (DPSU) in Lok Sabha for its transformation from a Government organisation to a profit-making corporate entity in a short span of about four years, Defence Minister expressed satisfaction over the initiatives taken by the Management of the YIL to increase the turnover of the company, maximise indigenisation and meet other performance parameters for grant of Miniratna (Category-I) status. The YIL has achieved significant milestones after inception, including stellar growth in sales from Rs 956.32 crore in 2021-22 to Rs 3,108.79 crore in Financial Year (FY) 2024-25. On the export front, it has achieved a growth from NIL in FY 2021-22 to Rs 321.77 crore in FY 2024-25. YIL is a Nagpur-headquartered DPSU established in 2021 as part of the restructuring of the Ordnance Factory Board (OFB).

 

Operating eight factory units, it manufactures equipment for the Indian Armed Forces, including artillery, ammunition, and armoured vehicles. The major products of YIL include Carbon Fibre Composites, assembly products for Medium and Large Calibre Ammunition, assembly products for Armoured Vehicles, assembly products for Artillery Guns and Main Battle Tanks (MBTs), Glass Composites, Aluminium Alloys etc. The Miniratna (Category-I) status empowers the Board of the YIL to incur capital expenditure on new projects, modernisation, purchase of equipment, etc. up to Rs 500 crore without the Government approval. This will further empower the company to achieve accelerated growth trajectory and new heights in defence production and exports.

 

The Central Government had corporatised the erstwhile OFB into seven new DPSUs on October 1, 2021, with a view to enhance functional autonomy, efficiency and promote innovation and growth in the defence manufacturing sector. The YIL is one of the newly-formed Schedule ‘A’ DPSUs functioning under the administrative control of the Department of Defence Production. In May 2025, Defence Minister had approved grant of Miniratna-I status to three of the seven DPSUs - Munitions India Limited, Armoured Vehicles Nigam Limited and India Optel Limited. The decision underscores the Government’s continued commitment to the vision of Aatmanirbhar Bharat, with a strong focus on building indigenous capabilities in defence manufacturing, research, and strategic technologies. It is in line with the broader defence reforms, which aim to reduce import dependence, promote domestic defence production, encourage participation of Indian industry, and position India as a global defence manufacturing hub.