BHEL wins ICWAI award

P.S. Chauhan

With many top awards and honours already in its kitty, the BHEL, one of the Navratna public sector undertakings in the country, has bagged the coveted Institute of Cost and Works Accountants of India (ICWAI) awards for excellence in cost management, quality and delivery for 2009. Significantly, the company has won seven of these prestigious awards for 2009. "The best cost management practices across the company enabled the BHEL to reduce the material cost by 2.8% in 2009-10, which made its claim to the prestigious award," said R. Bhatnagar, the additional general manager and in-charge of publicity and public relations of the BHEL unit of Haridwar. The said award was instituted in 2003, by the Institute of Cost and Works Accountants of India, and is given annually to corporate entities in their journey towards excellence in cost management.

The BHEL unit of Haridwar made significant contribution in the company's getting the top honour. It may be mentioned here that the company has been bagging this award for the last five years in a row. This year the prestigious selection came after an independent jury, headed by the former Chief Justice of India, J.S. Verma, selected the company in the public manufacturing large organisation category. The sources in the BHEL say that with a highest ever order book position of over Rs. 1,440,000 million at the end of the fiscal, the company expects to achieve robust growth in 2010-11 and beyond. Since 1967, the company has maintained its track record of earning profits year after year. The sources further say that the company is equipping itself for the future challenges, by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower to meet the country's power forecast in the future. Till date the company has established its capability to deliver 15000 MW per annum and further augmentation to 20,000 MW per annum is underway.