THEBUSINESSBYTES BUREAU

NEW DELHI, JULY 1, 2026

State-owned engineering consultancy and project management firm MECON Limited has been granted Miniratna Category-I status by the Ministry of Steel after achieving strong financial performance, including a net worth of over ₹535 crore and sustained profitability over the last three financial years. The move is expected to provide the company with greater financial and operational autonomy, enabling it to accelerate investments, technological upgradation and business expansion.

The Ministry of Steel on Wednesday approved the grant of Miniratna Category-I status to MECON Limited, a Schedule ‘A’ Central Public Sector Enterprise (CPSE) functioning under its administrative control.

The company has demonstrated a consistent turnaround in its financial performance, reporting profits before tax (PBT) of ₹77.62 crore in FY 2023-24 (restated), ₹32.08 crore in FY 2024-25 (restated), and ₹104.53 crore in FY 2025-26. As of March 31, 2026, MECON's net worth stood at ₹535.42 crore, meeting the eligibility criteria laid down by the Department of Public Enterprises (DPE) for the prestigious Miniratna Category-I designation.

The upgraded status significantly enhances the powers of MECON's Board, allowing the company to take faster decisions on investments, modernisation programmes, technology upgrades and strategic business expansion. The increased autonomy is expected to improve operational efficiency and strengthen the company's long-term growth prospects.

Founded in 1959 and headquartered in Ranchi, MECON is one of India's leading engineering, consultancy, project management and contracting organisations. While it has played a pivotal role in the country's steel sector, the company has also diversified its expertise into mining, infrastructure, power, oil and gas, and other core industries.

The Ministry of Steel said the decision reflects the government's continued focus on empowering high-performing CPSEs through greater operational flexibility. The initiative aligns with the broader objective of enhancing the efficiency, competitiveness and growth potential of public sector enterprises, enabling them to contribute more effectively to India's infrastructure development and economic expansion.