BWI: PSU Awards - 2010 by Dalal Street Investment Journal

Press release from Business Wire India
Source: Dalal Street Investment Journal (DSIJ)
Thursday, April 08, 2010 02:12 PM IST (08:42 AM GMT)
Editors: General: Economy, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Media & entertainment, Publishing & printing
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PSU Awards - 2010 by Dalal Street Investment Journal


New Delhi, Delhi, India, Thursday, April 08, 2010 -- (Business Wire India) -- Dalal Street Investment Journal (DSIJ), India's No. 1 investment magazine announced 18 awards to Public Sector Undertakings (PSUs) for their steadfast support and contribution to the Indian economy. These prestigious awards were given away by Mr. Virbhadra Singh, Union Minister of Steel and Mr. Arun Maira, Member, Planning Commission at Hotel The Lalit in New Delhi.

Thunderous applause rocked the decked up hall for a long time when 18 winners of the second edition of DSIJ PSU Awards 2010 walked up to the podium to receive the awards. Crystal Ballroom at The Lalit in New Delhi was packed to the capacity on the evening of April 6 when second edition of DSIJ PSU awards were announced. It was a rare occasion when such a large number of CMDs, Directors and top officials were assembled under one roof. This award is given in the recognition of the excellence of performance and contribution to the Indian economy by the PSUs. KPMG was the knowledge partner of DSIJ is setting up the process of the selection. Dalal Street Investment Journal (www.DSIJ.in) is India's number one investment magazine published since 1986.

While appreciating the DSIJ for recognizing the talents and merits of PSUs through this award, Mr. Virbhadra Singh, Union Minister of Steel said, "PSUs contribution can be gauged by the fact that in addition to the dividends their contribution in way of excise duty, customs, corporate tax and interest of loans to the government exchequer last fiscal was to the tune of Rs 15, 1728 cr. In fact, total forex earned by these enterprise is Rs 74,000 crores."

Mr Arun Maira, Member, Planning Commission, talked about the vision of the Prime Minister Dr .Manmohan Singh for the equitable growth of the country. He stressed upon the factor of Globalization of the corporate world and changes seen in India where tremendous growth has been witnessed due the impact of globalisation. Mr Maira said that the globalization has contributed a lot in the infrastructure development as well as other development like economic development of the country.

Mr Maira. said that "we have to build our type of economic system in pace with the global economy and Public Sector Undertakings are an important part of this system." He added that PSUs have a major role to play in building the economic system of India.

This year DSIJ has divided the awards into two categories - Navratnas and Mini Navratnas so that Mini Navratnas also get a chance to get the award.

Receiving the award, R.S. Sharma, CMD of ONGC said "I complement DSIJ for recognising the performance public sector undertakings and I receive this award with great pride on behalf of 33000 employees of ONGC."

Mr. S.K. Roongta, CMD of Steel Authority of India Limited (SAIL) while receiving the Life Time Achievement Award said "The DSIJ award is a tribute to the resilience of SAIL, which has improved its performance consistently , even in the face of global meltdown. This honour is really meant for the entire SAIL collectively, who through creativity and commitment made many impossibles possible".

Lauding the efforts of DSIJ of recognizing the good work being done by the PSUs, Bank of Baroda Chairman, Mr. M.D. Mallya said, " it is quite a commendable job by Dalal Street Investment Journal and this will boost the morale of entire PSU sector."

Chief Guest Sri Virbhadra 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 CMD of Power Finance Corporation, Mr Satnam Singh, CMD, BSNL, Mr Kuldeep Goel, CMD, OIL India, Mr N M Borah, CMD, PEC, Mr P Umashankar, CMD, Cochin Shipyard, Commodore M Jitendran , CMD, PEC ,Mr. A K Mirchandani , CMD, Bank of Baroda, Mr. M.D. Mallya, CMD of Corporation Bank of India, Mr Jag Mohan Garg, besides hordes of other high officials and dignitaries.

The list of categories and their criterion has been attached here below.

The Heavyweights:
This award is based on the overall performance of the undertaking and takes into account the four important factors like Net sales / Net profit / Operating profit and Balance sheet size. Each parameter then applied with pre-defined weightage.

1. ONGC.
2. Power Finance Corporation
3. OIL India Limited
4. BSNL
Growth

This award is based on three years CAGR in terms of Net Sales, Net Profit, Operating Profit, RONW and ROCE. Each parameter then applied with pre defined weightage.
5. Bharat petroleum Corporation Limited
6. Power finance Corporation Of India (2nd Award)
7. Cochin Shipyard
8. PEC

Wealth Creations
This award is based on percentage change in market cap of December 2009 over December 2008
9. GAIL
10. REC
11. BEML
12. CONTAINER CORPORATION of INDIA

Valuable

"The PSUs with the Highest Market CAP"
For this category the average market cap from October 2009 to December 2009 was considered. .

13. ONGC
14. NEYVELI LIGNITE

THE MOST EFFICIENT Public Sector Banks

This award is based on Operating profit/Total number of employees, Growth in operating Profit, Balance Sheet Size. Each parameter is applied with pre-defined weightage.

15. BANK OF BARODA
16. BANK OF INDIA
17. CORPORATION BANK

FOURTH CATEGORY OF AWARD

Lifetime achievement Award

18. S K Roongta, CMD SAIL.

About DSIJ Ltd:

Founded in 1986, Dalal Street Investment Journal (DSIJ) is the oldest and the most trusted magazine for investment recommendations. DSIJ's 24-year eventful journey charts the exhilarating journey of the Indian stock market. All through its journey, DSIJ has remained rooted to its core values of honesty, transparency and high performance. Every fortnight, the highly experienced and professionally qualified DSIJ team of Research Analysts provides in-depth and insightful analysis of companies across diverse sectors to come up with balanced and unbiased recommendations. DSIJ does not stop at just recommending stocks, it goes a step ahead and continuously monitors, reviews and evaluates the performance of its recommendations and, should the situation warrant, also suggests corrective actions for the investors.

DSIJ a complete investment magazine, offering investment advice on mutual funds, debt, real estate, insurance, taxation and financial planning with an entire section devoted to personal finance. Over 5 lakh readers have reposed their trust and confidence in DSIJ for over 24 years.

DSIJ Limited, 101 A, First Floor, Uttam House, 69, P D'mello Road, Near Carnac Bridge, Mumbai -400 009 India. Website - www.DSIJ.in

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