Indian Oil Corporation Awarded the Heavyweight Maharatna Award by DSIJ

Mar 25, 2013, 01:30 ET from DSIJ Pvt. Ltd

NEW DELHI, March 25, 2013 /PRNewswire/ --

Dalal Street Investment Journal (DSIJ), India's No. 1 investment magazine today announces the winners of its 4th Public Sector Undertakings (PSUs) Awards 2012; presented to PSUs in recognition of the excellence of performance and their contribution to the Indian economy. The coveted awards were given away by Chief Guest, Mr. Ajit Singh, Honorable Union Minister of Civil Aviation and Guests of Honor Mr. Uma Shankar, Secretary Ministry of Power Government of India. The event also saw attendance of number of CMDs, Directors and top officials of leading PSU's.

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Taking a leaf out of the grand success of its first three editions, the fourth edition of the DSIJ PSU award ran into 17 different categories ranging from The Heavyweight Maharatna - Manufacturing, won by IOC; Fastest Growing Maharatna - Manufacturing bagged by BHEL; Most Most Efficient Maharatna - Manufacturing won by NTPC and Mighty Masters - Largest Balance Sheet and Topline - Non Manufacturing Navratna earned by PFC. Aiming to raise the award standards year on year, this year's award also recognizes the contribution of smaller PSUs by dividing the list into three categories.

Lauding the efforts of DSIJ for recognizing the talents and merits of PSUs through this award, Mr. Ajit Singh, Minister of Civil Aviation  said; "My appreciation extends not just to the winners but the whole PSU fraternity for having played a pivotal role in creating modern India. In fact, I am pretty much amazed and would also like to congratulate Dalal Street Investment Journal for having decided to evaluate and felicitate a section of the Indian economy which is being looked upon by many today as slow moving and hence lacking in contemporary relevance as compared to its modern, lean and agile private sector peers."

Speaking on the success of the award ceremony, Mr. Sanjay Padode, Managing Director, DSIJ Private Limited said, "I have always been amazed by the resilience of the The Indian PSUs as they continue to perform and deliver upon their promise of keeping Corporate India amongst the global elite whilst delivering their social obligations. Since Independence till date they have continuously created wealth for the shareholders and value for the society."

Drawing from the exhaustive research and findings undertaken by KPMG and the in-house team of DSIJ, these awards reinstate the group's commitment to bring together the best of the talents in the industry and give them their due recognition.

Chief Guest Sri Ajit Singh also unveiled an informative, enlightening, and engaging book on "India's Best Public Sector Undertakings", produced by Dalal Street Investment Journal

The award ceremony was also attended by Shri B P Rao, CMD BHEL, Satnam Singh, CMD PFC, Sushil Kumar Srivastava, CMD OIL India, Rajeev Sharma, CMD REC, G Srinivasan CMD New India Assurance, Anil K Gupta, CMD Concor, CS Verma, Chairman SAIL, besides hordes of other high officials and dignitaries.

While concluding the programme, Mr. P Uma Shankar, Secretary, Ministry of Power, said, "Not only in terms of top line but also in the matter of employment CPSEs play a significant part in the country. In fact total employee strength in CPSEs stood at 13.98 lakh in 2011-12. In the same way  the turnover of all 225 operating CPSEs during 2011-12 stood at Rs. 18, 41,927 crore as compared to Rs.14, 98,018 crore in the previous year. The share of earnings through export/deemed export amounted to 6.76 percent of total turnover during the year, and the CPSEs earned foreign exchange equal to Rs. 1, 24,492 crore in 2011-12 as compared to Rs. 91, 774 crore in 2010-11, which is a matter of great pride."

The following includes the list of the winners for the DSIJ PSU Awards 2012

          Award For                      2012
          Heavyweight Maharatna -
        1 Manufacturing                  IOC
          Heavyweight Maharatna -
        2 Non Manufacturing              ONGC
          Fastest Growing
          Navratna -
        3 Manufacturing                  BPCL
          Fastest Growing
          Navratna - Non
        4 Manufacturing            Power Grid Corp
          Fastest Growing
          Maharatna -
        5 Manufacturing                  BHEL
          Most Efficient Navratna
        6 - Manufacturing         Bharat Electronics
          Most Efficient Navratna
          - Non Manufacturing
          Company (Balance Sheet
        7 Size >Rs 25000 Cr              NMDC
          Most Efficient Navratna
          - Non Manufacturing
          Company (Balance Sheet
        8 Size < Rs25000 Cr           OIL India
          Most Efficient
          Maharatna -
        9 Manufacturing                  NTPC
          Most Efficient
          Maharatna - Non
       10 Manufacturing               Coal India
          Most Efficient Public
       11 Sector Bank               Bank of Baroda
          Highest Profit Per
          Employee - Non
       12 Manufacturing Miniratna        PEC
          Fastest Growing
          Operational Metrics -
          Non Manufacturing
       13 Navratna                       REC
          Consistent Allround
          Performance -
          Non-Banking Financial       New India
       14 Company                    Assurance Co
          Mighty Masters -
          Largest Balance Sheet
          and Topline - Non
       15 Manufacturing Navratna         PFC
          Most Efficient
       16 Miniratna                     CONCOR
          Most Efficient and
          Largest Employer
       17 Maharatna                      SAIL

About DSIJ Private Limited:

Dalal Street Investment Journal is India's leading wealth creating media brand. In line with its philosophy of democratising wealth creation, DSIJ provides unbiased, reliable and actionable information to enable the wealth creation and wealth enhancement objectives of every financially engaged citizen.

Established in 1986, the masthead, Dalal Street Investment Journal, is one of the most recognised equity market publication and has been at the forefront of quality journalism ever since. Today DSIJ reaches out to it's discerning readers in the print and the contemporary digital formats.

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