Bharat Heavy Electricals Limited (BHEL) owned and founded by the Government of India, is an engineering and manufacturing company based in New Delhi, India. Established in 1964, BHEL is the largest manufacturer of power plant equipment in India. In 2013, the Government of India awarded it the prestigious state of Maharatna (great gem) for its excellent track record and wide scale of operations. The elite list of Maharatna companies contains a total of 7 gigantic public sector companies (PSUs) in India. The state of Maharatna gives the Boards of these companies greater financial and operational autonomy of the Government.