Yantra India Limited (YIL), a Schedule ‘A’ Defence Public Sector Undertaking formed after the corporatisation of the Ordnance Factory Board in October 2021, has been granted Miniratna Category-I status following approval by Defence Minister Rajnath Singh.
Congratulating the company for transforming from a government organisation into a profit-making corporate entity within about four years, the Defence expressed satisfaction over the management’s efforts to increase turnover, maximise indigenisation and meet performance benchmarks required for the upgraded status.
Since its inception, YIL has recorded strong financial growth, with sales rising from ₹956.32 crore in the second half of 2021-22 to ₹3,108.79 crore in FY 2024-25, according to a statement by the Ministry of Defence.
Export performance also expanded from nil in the same initial period to ₹321.77 crore in FY 2024-25.
The company manufactures a range of defence products, including carbon fibre composites, glass composites, aluminium alloys, and assembly products for medium and large calibre ammunition, armoured vehicles, artillery guns and main battle tanks.
The Miniratna Category-I designation empowers YIL’s board to incur capital expenditure of up to ₹500 crore on new projects, modernisation and equipment procurement without requiring prior government approval, a move expected to accelerate the company’s growth trajectory and strengthen defence production capabilities.
The government had reorganised the erstwhile Ordnance Factory Board into seven new DPSUs to enhance functional autonomy, improve efficiency and promote innovation in defence manufacturing. YIL operates under the administrative control of the Department of Defence Production.
In May 2025, Miniratna Category-I status had also been granted to Munitions India Limited, Armoured Vehicles Nigam Limited and India Optel Limited, reflecting broader defence reforms aimed at reducing import dependence, promoting domestic production and positioning India as a global defence manufacturing hub in line with the Aatmanirbhar Bharat vision.
