Mumbai, July 16 -- If you visit the headquarters of IREL India Ltd, in central Mumbai, there is little to suggest how important this state-owned company is.

The dimly lit office is in a run down building, with a small signage anyone can easily miss. The 30-square feet reception area has no room for visitors.

Operating under the department of atomic energy, which is headed by the Prime Minister, IREL is today 75 years old. And yet, till about a few months ago, no one would have heard about this 'miniratna'-a category of profitable public sector enterprises with greater financial and operational autonomy.

After decades, the company, formerly known as the Indian Rare Earths Ltd, is experiencing a rare moment of recognition-tasked with min...