OREANDA-NEWS. July 21, 2011. HV Axles has won the second prize at the ICWAI 8th National Award for Excellence in Cost Management – 2010, under the category 'large manufacturing organisation'.

The award is governed by the Institute of Cost and Works Accountants of India (ICWAI), a premier professional body specialised in the fields of cost and management accounting and actively engaged in the industrial and economic development of the nation. The award is to recognise organisations having exemplary cost management practices to sustain their competitive cost advantages by creating more value at a lower cost by efficiently managing an organisation’s value chain of activities, processes and functions.

The jury was headed by JS Verma, former Chief Justice of the Supreme Court of India.