PSU Award 2015
Governance Now presents the PSU Awards 2015—the 3rd edition of its prestigious award to 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.
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 2015 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.
While the year 2013 saw Shri Praful Patel, former minister for Heavy Industries and Public Enterprises felicitate the PSU champions, the year 2014 saw Minister of Micro, Small and Medium Enterprises Shri Kalraj Mishra and Minister of Consumer Affairs, Food and Public Distribution Shri Ram Vilas Paswan felicitate the winners. The year 2014 also saw Governance Now add five new – non financial – categories of Awards.
Going forward, the year 2015 Awards has added few more awards – one each for strategic investments and non-ICT technology adoption and one each for overall best financial performance (based on the total scores on all financial parameters) and overall best performance (based on the total scores of financial and non-financial parameters).
The awards will be given to Maharatna, Navratana and Miniratna 1 & Miniratna 2 (including other CPSEs) under the following categories:
Category 1: Financial Performance
- Overall Best Financial Performance
- Strategic Performance
- Asset Utilisation
- Employee Productivity
- Growth & Competitiveness
- Strategic Investment (Assets)
Category 2: Non-financial Performance#
Overall Best Performance Award
- CSR Initiative
- Research & Innovation
- HR Initiative
- ICT Initiative
- Green Initiative
- Technology Adoption (Non ICT)
# Nomination is required
The Governance Now PSU Awards 2015 follows dual route of research and nomination. The process would start with filing of nominations by the PSUs for six non-finacial category awards for overall CSR initiaives, research & innovation, HR initiatives, ICT initiatives, green 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 performance of an organisation is critical for the overall evaluation of any company and Governance Now PSU Awards 2015 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 normalized 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 Award 2015 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 the Evaluation Parameters to arrive at a consensus on the final winners.
- PAT / Sales
- EBIDTA / Sales
Strategic Investment (Assets)
- Capex during the year / Depreciation during the year
Growth & Competitiveness
- EBIDTA CAGR
- Capex CAGR
- Sales CAGR
Overall Best Financial Performance Award
- Cumulative Score of the Respective PSU Across all
*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 Finacial 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 of the Initiative
Guidelines & Timelines
- The Governance Now PSU Awards 2015 is limited to Central PSUs only. 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 in the prescribed form provided by the Governance Now PSU Awards 2015 Secretariat. This will be scrutinised for awards by the 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 2015.
Governance Now PSU Awards Secretariat
24A Mind Mill Corporate Tower,
Sector 16A, Film City,
Noida—201301 (UP), India
Terms & Conditions
- Governance Now and the PSU Awards 2015 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 Award 2015 Secretariat reserves the right to ask for additional information or clarification from the PSUs.
- The Governance Now PSU Award 2015 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 Award 2015 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 organisers for the Governance Now PSU Award 2015. However, the same may be evaluated and incorporated by the organisers in the next edition of the Award.
- 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 Award 2015 may be used for further research, analysis and promotional activity.
- The Governance Now PSU Award 2015 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 Award 2015 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 Award 2015 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 Award 2015 Jury and the final decision will it based on the report presented by the Governance Now PSU Award 2015 data analysis and evaluation team.
- The PSU Award 2015 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-2015/ 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.
- The Nomination Form comprises of the Declaration Sheet D1, and Nomination Forms N1, N2, N3, N4, N5 & N6.
PSUs can decide to send Nomination is each of the 6 categories or any one of the categories. There is a separate form for each category of Non Financial Award.
- 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.
- 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 Shubhendu Parth at firstname.lastname@example.org, +91 9811402655.
- 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.