ICWAI Award for Excellence in Cost Management - 2009
IFFCO bags National Award for Excellence in Cost Management (August 16, 2010)
Shri Salman Khurshid, Minister of State for Corporate Affairs presenting ICWAI Award for Excellence in Cost Management- 2009 to Shri S B Rindani, Sr. Executive Director, IFFCO and his team.
Maintaining its coveted position and creditable performance, Indian Farmers Fertiliser Cooperative Limited (IFFCO) added another feather to its cap when the prestigious Institute of Cost and Works Accountants of India (ICWAI) bestowed National Award for “Excellence in Cost Management – 2009” (Third Prize) on IFFCO under the category I – Private Manufacturing Organisation - large. The Award instituted by ICWAI aims at promoting the Cost Management Practices and initiatives in India Inc. by recognizing leadership efforts of Cost Management Techniques and innovative practices. Shri Salman Khurshid, Minister of State for Corporate Affairs presented this Award.
Due to prudent financial management, IFFCO in the year 2009 -10, earned foreign exchange to the tune of Rs.105 Crores and recorded a turnover of Rs.16,809Crores with pre-tax profit at Rs.567.28 Crores. IFFCO has spread its wings across the shores through strategic joint ventures overseas for ensuring food security to the Nation.
The Society had also been a recipient of ICAI Award for Excellence in Financial Reporting for IFFCO’s Annual Report for 2007-08.