This study conducts a comprehensive financial statement analysis of Bharat Heavy Electricals Limited (BHEL), one of India's largest engineering and manufacturing enterprises. The research evaluates the company's financial health, operational efficiency, and overall market standing over a recent five-year period. By utilizing primary financial tools such as ratio analysis, comparative statements, and trend analysis the research measures BHEL's profitability, liquidity, solvency, and working capital management. The findings reveal critical insights into the organization's strengths and weaknesses, offering actionable recommendations to optimize resource utilization, control the cost of goods sold, and improve liquid ratios. Ultimately, the study provides valuable perspective for investors, stakeholders, and financial analysts in making informed decisions regarding BHEL's future financial prospects.

Cheema Sandhya, Mrs.Yamini Bhargavi,"A Study on Financial Statement Analysis of Bharat Heavy Electricals Limited (BHEL)" International Journal of Advance Research in Science, Management, Engineering and Technology, V1(2): Page(117-127) May-June 2026. ISSN: 3139-1141. www.ijarsmet.com. Published by Scientific and Academic Research Publishing.