Home / Knowledge / News / Textiles / GAIL achieves Excellence in Cost Management
GAIL achieves Excellence in Cost Management
03
May '08
GAIL (India) Limited has once again received the National Award for Excellence in Cost Management from The Institute of Cost and Works Accountants of India (ICWAI).

GAIL's JLPL unit won the Second Award in public sector - Service category and Gandhar LPG unit won the Third Award in public sector manufacturing category of National Award for Excellence in Cost Management 2007.

In a function held at Vigyan Bhavan on 1st May 2008, the award has been received by Shri R K Goel, Director (Finance) on behalf of GAIL.

Shri Prem Chand Gupta, Hon'ble Union Minister for Corporate Affairs, Government of India presented the awards. This is the fourth time in a row that GAIL has secured the award for Excellence in Cost Management.

GAIL's units have achieved excellence in Cost Management by following the best practices and the corporate guidelines. The cost reduction has been achieved in Direct Manpower Cost by Manpower rationalization, Power, Water & Fuel Cost by reduction in Specific fuel consumption, Interest Cost due to prepayment of debt, Repair Maintenance and Stores & Spares Cost by Preventive Maintenance systems.

GAIL (India) Limited is among the “Navaratna” enterprise of India. It is one of the outstanding public enterprises in the country and has recorded excellent growth and performance over the years.

The several initiatives like Budgetary Control System, Proper costing system, Inventory Management System, Benchmarking, ERP systems, E-banking, Working Capital Management, Corporate Planning, TQM, and Strategic Sourcing etc facilitate GAIL to achieve the excellence in cost Management.


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search