The Centre’s dividend receipts from the Central Public Sector Enterprises (CPSEs) have fetched Rs 41,378 crore so far in the current financial year, or 60% of the annual target of Rs 69,000 crore.
Dividend Trend
However, the dividend receipts are trailing the previous year’s achievement during the corresponding period. CPSE dividend receipts were Rs 47,338 crore in the year-ago period or 84% of the FY25 budget estimate of Rs 56,260 crore. As against the BE, the achievement was Rs 74,129 crore in FY25.
While there is no doubt that the government will comfortably meet the FY26 target, additional receipts on this count have offset the shortfall in disinvestment receipts in the past few years, giving comfort to the government’s finances. This year, it is even more important as the Centre’s tax revenues are expected to see a substantial shortfall vis-à-vis the budget target due to tax cuts.
Energy and Mining Firms
Petroleum and natural gas firms emerged as the top dividend payers to the government with Rs 11,340 crore so far in FY26, driven by strong dividend payouts from major oil and gas companies, including ONGC, IOCL, BPCL and GAIL. Coal followed with Rs 8,282 crore, reflecting Coal India’s robust performance and substantial contribution. Power sector firms contributed Rs 7,814 crore, supported by high remittances from power sector PSUs such as NTPC, Power Grid Corporation, and Power Finance Corporation.
Energy and mining sector entities continue to dominate the government’s dividend inflows. Coal India emerged as the highest dividend contributor so far in FY26 with Rs 8,132 crore, reflecting strong performance and steady profitability in the coal sector. Oil & Natural Gas Corporation (ONGC) came second with Rs 5,371 crore, followed by National Investment and Infrastructure Fund at Rs 3,479 crore, NTPC at Rs 3023 crore, Power Grid at Rs 2642 crore, Bharat Petroleum Corporation at Rs 2,873 crore, Indian Oil Corporation at Rs 2,182 crore, and Power Finance Corporation at Rs 1,737 crore.