You are here: Home » News-ANI » Business
Business Standard

KOEL awarded CII EXIM Bank Award for Business Excellence 2019

ANI 

Kirloskar Oil Engines Limited (KOEL) was declared 'Award' winner of the CII EXIM Bank Award for Excellence 2019, becoming the first Diesel Engines or Gensets Company to win this prestigious award.

The award acknowledges excellence in total quality management in the following areas: Leadership, strategy, people, partnerships, customer-driven processes, performance in creating value for all its stakeholders (customers, shareholders, employees, partners and the society at large).

The Confederation of Indian Industry and the Export-Import Bank of India, jointly, instituted the CII EXIM Bank Award for Excellence in the year 1994.

It is today recognized as one of the most prestigious awards in India for Excellence. The rigorous process of assessment, lasting six months, follows the Business Excellence Model-based on the European Foundation of Quality Management (EFQM).

Upon conferring this award during the 27th National Quality Summit at Bangalore on 23rd November 2019, the citation from the CII mentions the following:

KOEL has put in place internal controls and governance to ensure optimum growth in Business Volume, sales value and reduction in working capital along with the adoption of lean machine concepts for optimum use of plant and machinery.

In line with the group philosophy of being responsible corporate citizen, KOEL drives multiple CSR interventions that have resulted in high societal engagement and satisfaction.

Strong leadership, engaged employees, proven processes, green products, cost leadership and growth in chosen export markets make KOEL, "The Indian Company" to compete with for the Global Players in India.

"KOEL is honoured to have been conferred this award. I am very thankful to CII and the EXIM Bank for having partnered with us in our journey to excellence. This award is a great honour for KOEL and recognizes our passion for excellence. At KOEL it is our mission to continuously strive to set higher standards. In today's highly competitive business environment, achieving superior results is hard, but sustaining it is even harder. KOEL will relentlessly strive to raise the bar in our journey of excellence," said RR Deshpande, MD and CEO of KOEL, acknowledging the award during National Quality Summit.

Leading Diesel Engines/Gensets industry, KOEL is placed with previous eminent winners from the manufacturing sectors in India such as Hewlett Packard, Maruti Udyog, Tata Steel, Godrej & Boyce and Bharat Electronics Limited.

Reputed global corporations in Europe who has received awards based on this model include Ericsson, IBM, Texas Instrument, British Telecom and TNT.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 10:35 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU