Regulatory Basis

The appointment is made under section 139(5) of the Companies Act, 2013, via CAG communication No. CA. V/COY/CENTRAL GOVERNMENT, BHEL (8)/219 dated 08.09.2026.

Appointed Auditors

Joint Statutory Auditors
  • M/s K Venkatachalam Aiyer & Co, New Delhi (Firm ID: SR0012)
  • M/s K S Dua & Co, Haldwani (Firm ID: NR1220)

The Joint Statutory Auditors of the holding company will also serve as auditors for the Consolidated Financial Statements under section 139 read with section 129(4) of the Companies Act, 2013.

Branch Auditors
  • M/s Sanjay Srivastava & Co, Bhopal (Firm ID: CR1694)
  • M/s Ganesan and Company, Chennai (Firm ID: MD0666)
  • M/s Y C R J & Associates, Bengaluru (Firm ID: BA0409)
  • M/s Sarath & Associates, Hyderabad (Firm ID: HY0288)
  • M/s S Venkatram & Co LLP, Chennai (Firm ID: MD0022) - Newly appointed from FY 2026-27

Audit Assignments and Coverage

The CAG's annexure details the specific audit assignments for each firm:

M/s K Venkatachalam Aiyer & Co: Consolidation of accounts, Corporate Office New Delhi, PEM Noida, and Power Sector NR/Noida & ER, Kolkata.

M/s K S Dua & Co: Consolidation of accounts, HEEP, Industrial Valves Plant Goindwal - Tarn Taran, Transmission Business Group Noida, Fabrication Stamping & Insulator Plant Jagdishpur, Component Fabrication Plant Rudrapur, HERP Varanasi.

M/s Sanjay Srivastava & Co: Heavy Electricals Plant Bhopal, Power Sector (Western Region) Nagpur, Transformer Plant Jhansi, Electrical Machines Repair Plant, Mumbai.

M/s Ganesan and Company: H P Boiler Plant Trichy.

M/s Y C R J & Associates: Electronics Division, Electric & Photovoltaic Division, Industrial System Group.

M/s Sarath & Associates: Heavy Power Equipment Plant Hyderabad, Corporate R&D Hyderabad, Heavy Plates & Vessels Plants Visakhapatnam.

M/s S Venkatram & Co LLP: Boiler Auxiliary Plant Ranipet, Power Sector (Southern Region).

Supplementary Audit

Supplementary/test audit under sections 143(6) & (7) of the Companies Act, 2013 is entrusted to Director General of Audit, Power, 4th & 5th Floor, Annexe Building, 10, Bahadur Shah Zafar Marg, New Delhi-110124.

Remuneration and Fees

The remuneration and allowances payable to auditors are to be regulated as per section 142 of the Companies Act 2013 read with guidelines issued by the Department of Company Affairs (vide no. 7/76 dated 8th April 1976 and no. 8/6/83 dated 7th June 1984). BHEL is required to intimate any revision in audit fees for 2026-27 and item-wise details of all remuneration paid for other services (non-statutory audit) along with TA/DA paid for 2025-2026 once the accounts for that year are finalized.

Conditions of Appointment

The appointment is subject to conditions stipulated in Annexure-I available on the CAG's website (http://care.cag.gov.in/policy/terms.pdf).

Profile of Newly Appointed Auditor (S. Venkatram & Co LLP)

The disclosure includes a brief profile of the newly appointed auditor, M/s S Venkatram & Co LLP:

  • Founded in 1943 in Kumbakonam, Tamil Nadu.
  • The firm has 10 partners (9 FCA, 1 ACA), 11 Chartered Accountants, 7 lawyers, and approximately 125 professional staff.
  • Four partners are DISA qualified, and professionals hold certifications in Ind AS, GST, FAFD, Concurrent Audit of Bank, and FEMA.
  • The firm is empaneled with CAG, SEBI, IRDAI, RBI, and the US PCAOB.
  • It has experience auditing public sector companies including Hindustan Aeronautics Ltd., Chennai Petroleum Corporation Ltd., Indian Oil Corporation Ltd., and public sector banks including State Bank of India, Bank of Baroda, and Canara Bank.
  • Key service areas include Audit, Taxation, and Allied Services with expertise in Ind AS and IFRS.