Governance Now presents the 4th edition of its prestigious PSU Awards 2016. The Awards honour the efforts of Public Sector Undertakings (PSUs) that have been key to India’s overall economic growth.
By virtue of being some of the largest commercial enterprises in the country the PSUs possess the unique ability to rise above the short-term commercial interest and invest in creating national assets so as to maximise long-term economic gains.
In a bid to give an impetus to the country’s economy in a significant way, the government unveiled programmes like Make in India, Digital India, Skill India that have an important role of public sector undertaking’s (PSUs) for their growth and encourage investors to invest in world’s second most populous country. For standing shoulder to shoulder with the biggest private companies, which are driven solely by the profit motive, this backbone of India’s economy deserves fair share of accolades and the Governance Now PSU Awards 2016 is aimed at doing just that. The core mission of the awards is to evaluate PSUs so as to instill in them the spirit of healthy competition that will motivate them to improve their performance and help them serve the larger society in a better way.
Over the period of three years, the awards ceremony has seen the presence of esteemed guests to recognize the efforts of PSUs and felicitate them. In 2013, Shri Praful Patel, then minister for Heavy Industries and Public Enterprises, in the year 2014, minister of Micro, Small and Medium Enterprises Shri Kalraj Mishra and minister of Consumer Affairs, Food and Public Distribution Shri Ram Vilas Paswan felicitated the winners. Similarly, in 2015, minister of State for Railways, Shri Manoj Sinha and Minister of Consumer Affairs, Food and Public Distribution Shri Ram Vilas Paswan felicitated the winners.
The awards will be given to Maharatna, Navratana, Miniratna 1 & Miniratna 2 and other CPSE under the following categories:
Category 1: Financial Performance
- Strategic Performance
- Asset Utilisation
- Employee Productivity
- Growth & Competitiveness
- Strategic Investment (Assets)
- CSR Initiative
- Research & Innovation
- HR Initiative
- ICT Initiative
- Environmental sustainability
- Technology Adoption (Non ICT)
Category 3: Value Growth
There are often intangible areas of performance that don't get covered in most formal evaluations like unusual contribution to the ecosystem around you, while also delivering faster than relative growth. The Value Growth awards are conferred on the organisation for being growth-oriented and experiencing faster average relative growth.
Best Performance Award
# Overall (Consolidated scores of financial and non-financial categories)
Awards ProcessNon-Financial Categories
The Governance Now PSU Awards 2016 follows dual route of research and nomination. The process would start with filing of nominations by the PSUs for six non-financial category awards for overall CSR initiatives, Research & Innovation, HR initiatives, ICT initiatives, Environmental Sustainability Initiatives and Technology Adoption. However, the Governance Now Research Team will also use its own research to get further information to verify and evaluate the nominations for the non-financial parameters.Financial Categories
Financial performance of an organisation is critical for the overall evaluation of any company and Governance Now PSU Awards 2016 lays equal thrust on the same. With a total of six awards in the financial category, the Awards Research Team will be using the data from the respective Annual Reports and CMIE Prowess Database to arrive at the scores. The scores thus arrived at will be normalised by the Research Team. This will help the Jury understand how well a PSU is performing given the inherent characteristics of industry, market and time. The Research Team will also be using Moody’s Metrics: Key Financial Ratios by Industries for Global Non-Financial Corporation (editions 2007, 2009 and 2014) as the benchmark for evaluating the PSUs.¬¬¬
The winners will be decided based on the decision of the high-powered Jury, which would meet to evaluate the score presented by the Research Team and adjudicate the winner in each of the awards categories. This would be followed by an on ground conference and awards event.
The Governance Now PSU Awards 2016 process is designed to evaluate and compare the PSUs performance that are contextual and bear measurable outcome and impact. The Research Team and the Jury will be using the following Evaluation Parameters to arrive at a consensus on the final winners.Financial Performance*
- PAT / Sales
- EBIDTA / Sales
- Sales / Assets
- Capex during the year / Depreciation during the year
- Sales/no of employees
- EBIDTA CAGR
- Capex CAGR
- Sales CAGR
- Cumulative Score of the Respective PSU Across all parameters
*The Research Team will use data from the Annual Reports of the PSUs and CMIE Prowess Database to arrive at the scores for all 6 categories of Financial Performance Awards.Non-financial Performance
Unlike financial performance, the performance measurement for these awards shall involve the use of softer aspects. In order that the performance is measured with an objective outlook, the performance on the PSU’s initiative for each of the categories shall be evaluated on three key parameters:
- Strategic Objective / Purpose of the Initiative
- Efforts put in by the PSU on the initiative
- Outcomes/Impact of the Initiative
- The Governance Now PSU Awards 2016 is limited to Central PSUs. All CPSEs are eligible to send in their nominations.
- With a view to encourage a level playing field for applicants, the entries are invited in four separate categories—Maharatna, Navratna and Miniratna 1 and Miniratna 1 (including other CPSEs).
- The PSUs will have to submit their nomination for non-financial parameters in the prescribed form provided by the Governance Now PSU Awards 2016 Secretariat. This will be scrutinised for awards by the esteemed Jury.
- All nominees are expected to provide complete details and data as per the Nomination Form. However, in case they do not have data or information to share, they can mark the respective fields as NA.
- There is no application fee for nomination of PSUs to the Governance Now PSU Awards 2016.
Terms & Conditions
- Governance Now and the PSU Awards 2016 Jury has absolute rights to change / merge / delete / or create a new category of awards.
- Any misrepresentation of information could amount to disqualification of the nomination, without any prior notice.
- The Governance Now PSU Awards 2016 Secretariat reserves the right to ask for additional information or clarification from the PSUs.
- The Governance Now PSU Awards 2016 Secretariat will also use the Annual Reports of the PSUs and its own research to get further information to verify and evaluate the nominations.
- The Governance Now PSU Awards 2016 process is designed to evaluate and compare the PSUs performance that are contextual and bear measurable outcome and impact as explained in the Evaluation Parameters and by submitting the nomination the PSU agrees to accept it.
- While the PSUs are encouraged to provide all information as sought in the Nomination Form, in case the PSU does not have data for any or some of the fields, it may clearly mention NA for the respective sections. However, this may impact their overall score and rating.
- No suggestion would be entertained for change in evaluation parameters and the format by the organizers for the Governance Now PSU Awards 2016. However, the same may be evaluated and incorporated by the organisers in the next edition of the Awards.
- Once submitted the nominations cannot be withdrawn or modified by the nominating PSU.
- The organisers reserve the right to reproduce the submitted material, wholly or in part, without limitation, in both print and electronic format.
- All or part of any information, photographs, submissions or any details generated for the purpose of Governance Now PSU Awards 2016 may be used for further research, analysis and promotional activity.
- The Governance Now PSU Awards 2016 Secretariat and Jury reserve the right not to make an award in case the nominations received are not found fit enough in terms of quality and quantity.
- The Governance Now PSU Awards 2016 Jury will have the right to nominate PSUs for any special category award that it feels should be in the consideration set.
- The decision of the Governance Now PSU Awards 2016 Jury will be final and binding and no appeal will be entertained for change in the Jury decision.
- The authority of deciding on final winners lies with the PSU Awards 2016 Jury and the final decision will it based on the report presented by the Governance Now PSU Awards 2016 data analysis and evaluation team.
- The PSU Awards 2016 Jury will include nominee from Governance Now, its partner companies and eminent personality from government and corporate sector. It will be headed by a Chairperson and no effort to influence any jury member during the process will be entertained. This may amount to disqualification of the candidature of the enterprise from the awards.
How to Nominate
- Log in to http://event.governancenow.com/psu-awards-2016/ and create User ID and generate password. The login should be created only by a person authorised by the organisation to fill up the form.
- Fill in the questionnaire online or download the form in excel.
- The Nomination process is only for the Non-Financial Awards. Data for the Financial Categories will be fetched from the respective Annual Reports and CMIE Prowess Database.
- The Nomination Form comprises of the Declaration Sheet D1, and Nomination Forms N1, N2, N3, N4, N5 & N6. PSUs are required to fill all the forms. Those filling the form online should attach all relevant documents, testimonials, certificates, and the scanned copy of Declaration Form with signature of the authorised person and company stamp online before submitting the completed form. They can also send relevant reports at
Governance Now PSU Awards Secretariat
24A Mind Mill Corporate Tower,
Sector 16A, Film City,
Noida—201301 (UP), India
- Those filling the questionnaire offline using the form in excel format should attach all relevant documents, testimonials, certificates, and scanned copy of Declaration Form with signature of the authorised person and company stamp and submit the completed form by email at email@example.com.
- For any queries pertaining to eligibility and filling up the questionnaire kindly contact Praggya Guptaa at firstname.lastname@example.org, +91 9873650603.
- The awards team will acknowledge receipts of entries through email only.
- Nominations received after the cut-off date or those with incomplete information will be rejected.