Defense Minister Rajnath Singh expressed satisfaction over Yantra India Limited’s initiatives to increase turnover, maximize indigenization and meet the performance criteria required for Miniratna-I status. Photo Credit: X/@YantraIndiaLtd
Defense Minister Rajnath Singh on Monday (February 2, 2026) approved the granting of Category I Miniratna status to Yantra India Limited (YIL), a Defense Public Sector Undertaking (DPSU).
Congratulating YIL for its rapid transition from a government organization to a profit-making corporate entity within four years, the Defense Ministry said, the defense minister expressed satisfaction with the company’s initiatives to increase turnover, maximize indigenization and meet the performance criteria required for Miniratna-I status.
Exports rose sharply
Since its inception, YIL has seen strong revenue growth, rising from ₹ 956.32 crore in 2021-22 (H2) to ₹ 3,108.79 crore in FY 2024-25. Exports, which were nil in 2021–22 (2nd half), increased to ₹ 321.77 crore in FY 2024–25. The company’s core product portfolio includes carbon fiber composites; assembly products for medium and large caliber ammunition; armored vehicles; artillery guns and main battle tanks; glass composites; and aluminum alloys, the ministry added.
The Miniratna-I status authorizes the YIL board to make capital expenditures of up to ₹500 million on new projects, modernization and equipment purchases without prior government approval, allowing for faster decision-making and accelerated growth in defense production and exports.
On 1 October 2021, the government corporatized the erstwhile Ordnance Factory Board (OFB) into seven new DPSUs to enhance functional autonomy, efficiency and innovation in defense manufacturing. YIL is one of these Plan ‘A’ DPSUs operating under the administrative control of Ministry of Defense Production.
In May 2025, the Defense Minister approved Miniratna-I status for three more DPSUs — Munitions India Limited, Armored Vehicles Nigam Limited and India Optel Limited.
The decision underscores the government’s commitment to Aatmanirbhar Bharat with an emphasis on strengthening domestic defense manufacturing, reducing import dependency, encouraging domestic industry participation and positioning India as a global defense manufacturing hub.
Published – 02 Feb 2026 21:43 IST