New Delhi: Goa Shipyard Limited (GSL), a leading Defence Public Sector Undertaking (DPSU) under the Ministry of Defence, has achieved a remarkable double victory at the prestigious 19th National Awards for Excellence in Cost Management & 8th CMA Awards 2024, organised by the Institute of Cost Accountants of India (ICMAI). The award ceremony took place at Vigyan Bhawan, New Delhi.
GSL was adjudged the Winner (1st position) in the ‘Manufacturing – Public – Medium’ category for Excellence in Cost Management – 2024. The award reflects GSL’s outstanding achievements in cost optimisation, value creation, and financial stewardship in the defence shipbuilding sector.
In addition to the organisational accolade, GSL's Director (Finance) Sunil S Bagi was conferred with the Best CMA CFO Award – 2024 in the ‘Public Manufacturing – Medium’ category. The award recognises his distinguished contribution to financial strategy, governance, and cost-effective practices at the helm of the organisation’s finance wing.
The awards were presented by Bhartruhari Mahtab, Member of Parliament and Chairperson of the Parliamentary Committee on Finance.
Expressing gratitude, Bagi stated, “This recognition is not just an individual honour but a testament to the collective vision and dedication of the entire GSL team. We remain committed to transparency, efficiency, and nation-building through financial and operational excellence.”
These dual recognitions underscore GSL’s continued focus on financial discipline, innovation, and efficiency as it contributes significantly to strengthening India's maritime defence capabilities. The company remains aligned with the Government of India’s vision of Atmanirbhar Bharat and Make in India in defence production.
Goa Shipyard Limited, with its legacy of excellence in shipbuilding, continues to play a vital role in bolstering the nation's self-reliance in defence manufacturing.
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