Report of the Comptroller and Auditor General of India on State Public Sector Enterprises for the period ended March 2023 (Report No. 4 of 2025)

What did the audit examine?

The audit examined the financial performance and compliance of State Public Sector Enterprises (SPSEs) in Uttarakhand for the period ended March 2023.

Who / what it concerns

State Public Sector Enterprises (SPSEs) of Uttarakhand

What the auditor found

• 23 functional SPSEs out of 32 total
• 27 Government Companies, 1 Government Controlled Other Company, 4 Statutory Corporations
• ₹4,939.53 crore invested by Government of Uttarakhand (GoU) in SPSEs
• ₹2,097.31 crore budgetary support by GoU in 2022-23
• 7 SPSEs had negative shareholders' funds
• 10 SPSEs earned profits aggregating ₹231.34 crore
• 9 SPSEs incurred losses amounting to ₹1,279.69 crore
• 6 SPSEs had completely eroded net worth (accumulated losses of ₹6,588.68 crore)
• CAG issued comments impacting ₹166.93 crore on profitability and ₹64.96 crore on financial position for Government Companies
• CAG issued comments impacting ₹163.97 crore on profitability and ₹185.57 crore on financial position for Statutory Corporations
• 7 SPSEs did not appoint Independent Directors
• 8 SPSEs did not conduct required Board meetings
• 1 SPSE did not have Woman Director

Points worth noting

• 6 SPSEs had accumulated losses exceeding their combined paid-up capital and reserves by ₹6,588.68 crore
• 9 SPSEs incurred losses totaling ₹1,279.69 crore
• CAG's comments impacted over ₹350 crore in financial position for Government Companies and Statutory Corporations combined