New Delhi, May 29 (Reporter) Defence Minister Rajnath Singh on Thursday approved the grant of “Miniratna” status Category-I to three Defence Public Sector Undertakings (DPSUs) -- Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL) and India Optel Limited (IOL). Congratulating these DPSUs, the Defence Minister hailed their transformation from government organisation to a profit making corporate entity in a short span of three years. He 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, a Defence Ministry statement said. Munitions India Limited has achieved significant milestones after inception, including a stellar growth of over 200 percent in sales from Rs 3,314 Cr in 2021-22 to Rs 8,214 Cr (provisional) in FY 2024-25. On the export front, MIL has achieved a growth from Rs 22.55 Cr in FY 2021-22 to Rs 3081 Cr in FY 2024-25. The major products of MIL include small, medium and high calibre ammunition, mortars, rockets, hand grenades and others with in-house manufacturing of initiatory compositions, propellants and high explosives. Armoured Vehicles Nigam Limited has witnessed a significant growth of about 190 percent increase in sales from Rs 2,569.26 Cr in 2021-22 to Rs 4,946 Cr (provisional) in FY 2024-25. AVNL has also achieved 100 percent indigenisation of engines for all the three platforms -- T-72, T-90 and BMP-II. The major products of AVNL include armoured and 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 Rs 562.12 Cr in 2021-22 to Rs 1541.38 Cr (provisional) in FY 2024-25, a growth of over 250 percent. The main products of IOL include Opto-electronic systems and vision equipment which are used in land system platforms and weapons like battle tanks T-90, T-72, infantry combat vehicle BMP-II, artillery guns, naval guns and others. The bestowal of Miniratna status to MIL, AVNL and 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 DPSUs, including these three DPSUs w.e.f. 01.10.2021. 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)...////...