BHEL wins ICAI National award for Excellence in Financial Reporting
Sangareddy: Bharat Heavy Electricals Limited (BHEL) has won the coveted ‘ICAI (The Institute of Chartered Accountants of India) National Award for Excellence in Financial Reporting’ for the financial year 2019-20. The award was received by Subodh Gupta, Director (Finance), BHEL from Arjun Ram Meghwal, Union Minister of State for Parliamentary Affairs and Heavy Industries and Public Enterprises.
Significantly, winning this prestigious recognition is a rare distinction achieved by BHEL after nearly four decades. The last time this recognition was granted to BHEL by ICAI, was in the year 1981-82. Notably, an independent jury unanimously selected BHEL in the ‘Infrastructure and Construction Sector’ category, for the Award for 2019-20 fiscal after screening at various levels.
Conferred by ICAI, this honour is accorded in recognition of the highest degree of compliance with Accounting Standards, Statutory guidelines, Regulations and Disclosures manifesting exemplary excellence in presentation of financial statements.
BHEL firmly believes that effective financial reporting plays a significant role in accelerating the economic growth of a country as the transparent, reliable and relevant information provided through annual reports, enables the management and other stakeholders in taking various effective business, investment and regulatory decisions.
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