New Delhi, June 11 The Prime Minister Narendra Modi-led government has strengthened India’s public sector undertakings (PSUs) in the last 11 years, turning them into wealth creators and making them integral to the nation’s growth, the data-focused X handle infoindata showed on Wednesday.
With focused reforms, strategic autonomy, and capital support, PSU market cap surged across the energy, power, and infrastructure sectors.
While NTPC saw its market cap reach Rs 3.27 lakh crore in 2025, from 0.99 lakh crore in 2014, Power Grid saw its market cap touch Rs 2.80 lakh crore in 2025, from 0.55 lakh crore in 2014 (till June 9), as per data sourced from the DIPAM and the Department of Public Enterprises.
Other PSUs like IOCL, Power Finance, BPCL, GAIL, NHPC, BHEL, etc, also saw a meteoric rise in their market caps in the last 11 years.
On the other hand, the market cap of public sector banks (PSBs) also surged in the last 11 years.
The SBI saw its market cap reach Rs 7.32 lakh crore in FY26, from Rs 1.51 lakh crore in FY16.
PNB saw its market cap touch Rs 1.29 lakh crore in FY26 from 0.06 lakh crore in FY16, while Bank of Baroda's market cap reached Rs 1.28 lakh crore from 0.34 lakh crore in the same time frame, as per the data.
"In 11 years, the Modi government transformed public sector banks from the NPA crisis of the UPA era to record market capitalisation through structural reforms such as asset quality review, bank mergers, targeted recapitalisation, and measures to resolve bad loans," said infoindata on X.
Meanwhile, India’s top public sector companies in the financial, power and energy sectors recorded a robust growth in profit during the January-March quarter of 2024-25, which is expected to further strengthen the government’s fiscal position.
The country’s largest lender, State Bank of India (SBI), and insurance giant Life Insurance Corporation of India (LIC) led the charge with a net profit of Rs 18,643 crore and Rs 19,013 crore, respectively. SBI's net profit for the financial year 2024-25 has now soared to Rs 70,901 crore, while LIC has recorded an impressive net profit of Rs 48,151 crore for the year.
In the energy sector, Coal India earned a net profit of Rs 9,604 crore during the fourth quarter, while Indian Oil Corporation (IOC) registered a net profit of Rs 7,265 crore, with upstream oil exploration giant ONGC registering a net profit of Rs 6,448 crore during the quarter.
In the power sector, the country’s largest electricity producer, NTPC, recorded a net profit of Rs 7,897 crore, while Power Finance Corporation (PFC), which also comes under the Ministry of Power, earned a robust Rs 8,358 crore. Power Grid Corporation of India also registered a strong profit of Rs 4,143 crore during the January-March quarter.
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