Hindustan Paper Corporation was bestowed with the prestigious MoU Excellence Award for performance during the FY 2005-06. Shri Raji Philip, CMD, HPC received the award from the Hon. Prime Minister Dr. Manmohan Singh at a glittering function held at Balayogi Auditorium, Parliament Library Building, New Delhi on 8th March, 2007.                 

            The Memorandum of Understanding (MoU) is a mutually negotiated agreement between the Public Sector Enterprises (PSEs) and the Government of India. Under this agreement, a PSE undertakes to achieve the targets set out at the beginning of each financial year. The MoU covers both financial and non-financial parameters and the performance is measured on a weighted 5-point scale.The MoU award os given only to the top ten PSEs securing excellent rating.