Hindustan Copper to seek Navratna status, eyes threefold ore output by 2029

Hindustan Copper will apply for Navratna status according to outgoing chairman and managing director Sanjiv Kumar Singh. Speaking to ET, Singh said the Schedule ‘A’ Mini-Ratna, Category-I Central Public Sector Enterprise (CPSE) is on track to triple its ore output to 12 million tonnes per annum by 2029.

"We have initiated work towards attaining Navratna status," he said, adding a transaction advisor for the same will be hired after which applications will be moved with concerned government authorities.

A Navratna board can approve investment decisions worth up to Rs 1,000 crore. Miniratna I, Schedule A companies need to and have obtained ‘excellent’ or ‘very good’ rating in three of the last five years according to their memorandum of understanding with the union government. The companies are also assessed on performance indicators such as net profit to net worth, manpower cost to total cost of production or cost of services, among others.


Hindustan Copper Limited (HCL) reported Rs 920.67 crore net profit in fiscal 2025-26, almost doubling from year-on-year. The copper producer also reported its highest-ever revenue from operations of Rs 3,077.92 crore during the year under review.

According to Singh, the company’s prospects will improve since copper demand is increasing with the expansion of renewable energy, electric vehicles, power transmission, electronics, artificial-intelligence infrastructure and advanced manufacturing. “Reviving existing domestic capacity can help improve copper availability, strengthen recycling and reduce dependence on externally sourced refined metal,” he said.

Singh expects HCL’s decision to revive the Gujarat Copper Project (GCP) - instead of divesting it - to boost profitability.

“The revenue-sharing partnership will generate income for HCL, strengthen the company's operational and financial profile as it progresses towards Navratna status,” he added.

Singh superannuates Tuesday. He was appointed as chairman and managing director in March last year.