Defence Minister Rajnath Singh has approved the grant of "Miniratna" status Category-I for Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL) & India Optel Limited (IOL). Congratulating these DPSUs for their transformation from a government organisation to a profit making corporate entity in a short span of three years, Defence Minister expressed his satisfaction over the initiatives taken by the management of MIL, AVNL and IOL to increase the turnover of the company, maximise indigenisation and meet other performance parameters for grant of Miniratna (Category-I) status.

Munitions India Limited has achieved significant milestones after inception, including stellar growth in sales from ₹2,571.6 crore in 2021-22 (H2) to ₹8,282 crore (provisional) in FY 2024-25. On the Export front, MIL has achieved a growth from ₹22.55 crore in FY 2021-22 (H2) to ₹3,081 crore in FY 2024-25 (Provisional). The major products of MIL include small, medium and high calibre ammunition, mortars, rockets, hand grenades etc. with in-house manufacturing of initiatory compositions, propellants and high explosives.

Armoured Vehicles Nigam Limited has witnessed a significant growth in sales from ₹2,569.26 crore in 2021-22 (H2) to ₹4,986 crore (provisional) in FY 2024-25. AVNL has also achieved 100 per cent indigenisation of Engines for all the 3 platforms viz. T-72, T-90 and BMP-II. The major products of AVNL include Armoured/ Combat Vehicles (T-90, MBT Arjun, Infantry Combat Vehicles 'BMP-II Sarath' etc), support vehicles (MPV, AERV etc) and Defence mobility solutions (Stallion, LPTA etc).

India Optel Limited, over the past three years, has pushed its sales from ₹562.12 crore in 2021-22 (H2) to ₹1,541.38 crore (provisional) in FY 2024-25. The main products of IOL include Opto-Electronic systems and vision equipment which are used in land system platforms & weapons like battle tanks T-90, T-72, Infantry Combat Vehicle BMP-II, Artillery Guns, Naval Guns etc.

The bestowal of Miniratna status to MIL, AVNL & IOL will further empower these companies to achieve accelerated growth trajectory and new heights in defence production and exports.

To enhance functional autonomy, efficiency and unleash new growth potential and innovation, erstwhile Ordnance Factory Board (OFB) was converted into seven Defence Public Sector Undertakings, including these three DPSUs w.e.f. October 1, 2021. While MIL and AVNL are Schedule 'A' new Defence Public Sector Undertaking (DPSU), IOL is a Schedule 'B' DPSU under the administrative control of Department of Defence Production (DDP).