ICWAI awards LMW
Lakshmi Machine Works has won the Institute of Cost and Works Accountants of India’s National award (second prize) for excellence in cost management in the manufacturing category.According to a release, the textile machinery manufacturing major has bagged the prize in the private sector category.
The winners are selected according to better practices for resource management, efficient utilisation of capacity and working capital, quality augmentation programme and research efforts and precise information on performance.
The release said that the award was constituted by the institute to promote the culture of cost management practices in wider scale in the Indian corporate sector. Its Senior General Manager – Finance, J. Sridhar and R. Chandrakala, Senior Manager – Cost Management, received the award from Prem Chand Gupta, Union Minister of Corporate Affairs at a function held in New Delhi last week.
