NCL bags 2nd position in ICMAI’s National Awards for Excellence in Cost Management 2024

New Delhi: Northern Coalfields Limited (NCL), a Miniratna company under the Ministry of Coal and a subsidiary of Coal India Limited (CIL), has been awarded the Second Position in the prestigious 19th National Awards for Excellence in Cost Management – 2024. The award was conferred under the 'Manufacturing – Public – Mega' category by the Institute of Cost Accountants of India (ICMAI).

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The award was received by NCL’s Director (Finance) Rajneesh Narain at a ceremonial event held at Vigyan Bhawan, New Delhi. He was accompanied by Rajesh Kumar, Deputy General Manager (Finance) and Technical Secretary to Director (Finance), NCL.

The recognition highlights NCL’s commitment to adopting best practices in cost management, ensuring financial discipline and operational excellence in coal production and supply.

NCL CMD B Sairam, along with the company’s Functional Directors, extended their congratulations to the NCL team for the achievement, acknowledging it as a reflection of their collective dedication and financial acumen.

In a notable distinction for the parent company, Coal India Limited (CIL) secured the First Prize in the same category. Additionally, CIL’s Director (Finance), Mukesh Agrawal, was honoured with the Best CFO Award, showcasing the group's strong financial leadership and strategic focus on cost efficiency.

This dual recognition for both NCL and CIL underscores the conglomerate’s continued emphasis on financial prudence and effective resource management, as it contributes significantly to the nation’s energy security with responsibility and efficiency.

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