Tata Power Solar recognised for its excellent cost management

Tata Power Solar has announced that it has been awarded at the 12th National Award for Excellence in Cost Management 2014 - in the Large Private Manufacturing organization category. The Institute of Cost Accountants of India (ICAI) awarded this is in recognition of Tata Power Solar’s efforts towards cost reduction and cost competitiveness. This recognition comes through demonstrating the use of cost management techniques such as marginal costing, standard costing, VA/VE and benchmarking effectively.

CMA A.S. Durga Prasad, President, ICAI said “Cost competitiveness is the fulcrum on which the survival and sustenance of business enterprises depend. I would like to congratulate all the winners and appreciate their achievements.”

Speaking on winning the award, Ashish Khanna, ED & CEO, Tata Power Solar said “We feel privileged to win this award. Over the past year, we have focused our efforts in developing a strong cost management strategy that helped reap multiple benefits such as increased plant utilization capacity, significant cost savings through benchmarking & VA/VE, and also winning a prestigious solar EPC contract in a competitive bidding process. Awards like these not only acknowledge our efforts but also provide us the extra push to go further.”

Col. Rajyavardhan Rathore (Retd.), AVSM, Honorable Minister of State for Information and Broadcasting presented the awards. Winners were selected by a jury headed by Hon’ble Justice V.N. Khare, former Chief Justice of India, and evaluated basis reports presented by an independent credit rating agency.