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Excellent rating again for Gail India, Ranks top 3 oil & gas PSUs
Posted On : 2006-12-07 20:31:12( TIMEZONE : IST )
Gail India Ltd has announced that the Company's performance during the financial year 2005-06 has been rated 'Excellent' by the Department of Public Enterprises under the Ministry of Heavy Industries & Public Enterprises, Government of India. The Company has secured a provisional Composite M0U score of 1.28 for the fiscal 2005-06. The Company has emerged as the third best oil and gas sector PSU on the basis of performance during FY 2005-06. The Company has been consistently securing 'Excellent' rating since it started signing MoUs with the Ministry.
Out of 29 benchmarked parameters in its MoU with the Government, the Company scored 'Excellent' in 25 parameters. It scored ‘Excellent’ against all seven criteria listed under Static Financial Parameters. The Company also scored 'Excellent' rating against Enterprise efficiency parameters as well as parameters like Research and Development projects; Manpower training; Customer Satisfaction Index; Health, Safety and Environment Index; Gas Sourcing initiatives, formation of joint ventures and alliances, number of mandays lost etc.
During the FY 2005-06, the Company's Gross Margin to Gross Block ratio was 27.32 against MoU target of 16.71. The Net Profit to Net Worth ratio was 23.39 against MoU target of 13.02. The company’s Gross Profit to Capital Employed ratio was 30.49 as against MoU target of 18.56. The Gross Margin per employee during the year was Rs 114.82 lakh against MoU target of Rs 67.02 lakh per employee.
During the year 2005-06, the Company maintained uninterrupted availability of natural gas on its pipeline systems for 8760 hours. As regards the LPG pipeline system, the uninterrupted availability of LPG was maintained for 8745 hours on the Jamnagar - Loni LPG pipeline system and for 8760 hours on the Vizag - Secunderabad pipeline system.
The Company produced 1.32 million tonnes of Liquid Hydrocarbons (LPG / Propane / SBP / Pentane) during the year 2005-06 against the MOU target of 1.29 million tonnes. The polymer production during the year was 3.11 million tonnes against the MoU target of 3.10 million tonnes. The petrochemical sales during the year were 3.16 million tones against the MoU target of 3.1 million tonnes.
