Hello Venki,
Within the listing file, the first half of the file contains a "memory dump" of each line of the .S19 file, one line at a time. It can be ignored, since your interest is with the disassembled code.
I am curious as to what you hope to achieve with the disassembly.
Once you have separated the code into the various sub-routines, identify those "low level" routines that do not call any other sub-routines. Then attempt to identify what each of these does. The routines that read or write peripheral registers may be easier to decode. I suggest you add copious comments as you work through the code.
I also don't envy your task of making sense of about 27K of code - I have previously reverse engineered projects with about 1K to 2K of code that was originally written in assembler (and not compiled from C), and this was tedious and time consuming enough.
Regards,
Mac