Since inception, YIL has achieved impressive milestones. Its sales have surged from ₹956.32 crore in FY 2021-22 (H2) to ₹3,108.79 crore in FY 2024-25. Exports, which were NIL in FY 2021-22 (H2), grew to ₹321.77 crore in FY 2024-25. Major products include Carbon Fibre Composites, assembly products for Medium and Large Calibre Ammunition, Armoured Vehicles, Artillery Guns, Main Battle Tanks (MBTs), Glass Composites, and Aluminum Alloys.
Empowered Operations Under Miniratna-I Status
The Miniratna Category-I status allows YIL’s Board to incur capital expenditure up to ₹500 crore on new projects, modernization, and purchase of equipment without government approval. This autonomy is expected to accelerate the company’s growth trajectory, enhance defence production, and expand exports.
Corporate Restructuring of OFB and DPSUs
The Government corporatised the erstwhile Ordnance Factory Board (OFB) into seven new DPSUs on 1 October 2021, aiming to improve functional autonomy, efficiency, and innovation in defence manufacturing. YIL is a Schedule ‘A’ DPSU under the administrative control of the Department of Defence Production. Earlier, in May 2025, Raksha Mantri had granted Miniratna-I status to Munitions India Limited, Armoured Vehicles Nigam Limited, and India Optel Limited.
Promoting Aatmanirbhar Bharat in Defence
The decision reinforces the Government’s commitment to Aatmanirbhar Bharat by strengthening indigenous capabilities in defence production, research, and strategic technologies. It aligns with broader defence reforms to reduce import dependence, promote domestic manufacturing, encourage private sector participation, and position India as a global defence production hub.