NEW DELHI, May 6, 2011 /PRNewswire/ -- Dalal Street Investment Journal (http://www.DSIJ.in), India's number one investment magazine, announces the winners of the third Public Sector Undertaking (PSU) Awards, 2011, presented to PSUs in recognition of excellence in performance and their contribution to the Indian economy. The coveted awards were given away by the chief guest, Mr Sushil Kumar Shinde, Hon Union Minister of Power, and Guest of Honour, Mr Dipak Dasgupta, Principal Economic Advisor, Ministry of Finance. The event witnessed the attendance of a number of CMDs, directors and top officials from leading PSUs and Navratnas of India.
Taking a leaf out of the grand success of its first two editions, the third edition of the DSIJ PSU Awards ran into 17 different categories, ranging from 'the most significant turnaround enterprise', won by Chennai Petroleum Corporation; Kaizen Warrior Award for 'the most efficient PSU', bagged by PEC and GAIL; the Topliner Award for 'the highest sales growth enterprise', won by NTPC; and the Speed King Awards for 'the fastest growing enterprises', earned by REC, IRCTC and Indian Oil. The Best Bank and The Best Insurer awards went to the IDBI Bank and United India Insurance Company respectively. Oil India won the 360-degree Growth award for its all-round growth and SAIL won the Growth Master award for consistent CAGR growth. Finally, the Gentle Giants awards were given for the highest balance-sheet size and these went to STC, NHPC, BHEL and PFC in their respective categories.
Aiming to raise the award standards year on year, this year's awards also recognised the contribution of smaller PSUs by dividing the list into three categories: 'Maharatna', 'Navratnas' and 'Miniratnas'.
This year DSIJ went one step ahead to recognise the contribution of IGNOU towards 'education for all'. As is well known, IGNOU has been providing higher education at an affordable cost. Dr Pillai, Vice Chancellor of IGNOU, received this prestigious award.
Lauding the efforts of DSIJ in recognising the talent and merit of PSUs through these awards, Mr Sushil Kumar Shinde, Union Minister of Power, said, "I must congratulate all the award-winning PSUs for their impressive performance and the returns they had provided as also DSIJ for recognising their performance."
Drawing from the exhaustive research and findings undertaken by KPMG and the in-house team of DSIJ, these awards reaffirm the group's commitment to bringing together the best talent in the industry and give them their due recognition.
While receiving the award, Mr B P Rao, CMD, BHEL, said, "I must congratulate DSIJ and KPMG for selecting us for the Gentle Giant Award for our category."
Mr Sushil Kumar Shinde also released an informative, enlightening and engaging book on 'India's Best Public Sector Undertakings', produced by Dalal Street Investment Journal, on this occasion.
The award ceremony was attended by Mr Satnam Singh, CMD, PFC; Mr B P Rao, CMD, BHEL; Mr N M Borah, CMD, Oil India; Mr G Srinivasan, CMD, United India Insurance; Mr A K Mirchandani, CMD, PFC; Mr R K Tandon, MD, IRCTC; Mr N K Mathur, CMD, STC; Mr Raina and Mr Jain, Director, GAIL; Mr HD Khunteta, CMD, REC; Mr K Balachandran, MD, CPCL, besides a large number of other high-ranking officials and dignitaries.
While concluding the programme, Dipak Dasgupta, Principal Economic Advisor, Ministry of Finance, said, "The biggest question everybody is asking today is, 'Will India outperform China?' This is the right time we have the foundation and we can go for it. The next 10 years will be exciting. Today our per capita income is USD 1500 and we can double it, but for that the PSUs have a bigger role to play."
The following is a list of the winners of the DSIJ PSU Awards, 2011: TROPHY WINNERS Category Winner Kaizen Warrior for Most PEC and GAIL Efficient PSU Most Significant CPCL Turnaround Best Public Sector Bank IDBI Bank Best Public Sector United India Insurance Company Insurance Player Speed King Award for Indian Oil, REC and IRCTC Fastest Growing PSUs across Maharatnas, Navratnas and Miniratnas Topliner PSU with NTPC Highest Sales Growth Growth Master for SAIL consistent CAGR growth Gentle Giants Award for PFC, BHEL, NHPC and STC the largest balance-sheet size Game Changer Award for BEML Diversification, R&D and enhanced global presence 360-degree Growth Award Oil India for all-round growth
Speaking about the success of the award ceremony, Mr Deepak Jhangiani, Director (Special Projects), DSIJ Group, said while proposing a vote of thanks, "The unwavering support of the PSUs and their exemplary contribution to the Indian economy is tremendous. The current position of India on the global map as one of the fastest growing economies is also because of the efforts of each and every one of the PSUs in India. I am deeply honoured to be associated with these awards and would like to express my gratitude for their presence and participation."
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