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Business EconomyPosted at: Aug 2 2024 3:34PM


Telangana’s 18 SPSUs' accumulated losses at Rs 53k cr as on March 31,2023 : CAG

Hyderabad, Aug 2 (UNI) The accumulated losses of 18 SPSUs (State Public Sector Undertakings, out of 83 working SPSUs in the state were at ₹53,542.07 crore as on March 31, 2023, according to the Comptroller and Auditor General (CAG) of India's Compliance Audit Report on state’s Finance audit report for the year ending March 31, 2023, tabled in the Legislative Assembly on Friday.
Of the 83 SPSUs in the state including eight related to power and 75 related to non-power section SPSUs, 16 companies were inactive and were either defunct or under liquidation, the report stated.
Out of the 18 working SPSUs, 6 SPSUs earned profits (₹3,857.48 crore), 11 SPSUs incurred losses (₹11,969.66 crore) and one SPSU (Telangana Industrial Health Clinic Limited) had reported nil profit or loss.
As a result of losses, the combined net worth of 18 SPSUs was completely eroded and stood at
₹(-)33,005.15 crore as on March 31, 2023, it said.
The investment in 18 working SPSUs in the form of equity, interest free loans, subsidies and grants of Central and State Governments and Others was ₹96,883.99 crore.
The PV of this investment worked out to ₹1,03,249.27 crore.
Out of 67 working (after inactive 16 companies) SPSUs, Financial Statements for the year 2022-23 were received only from12 SPSUs in time while fifty-five SPSUs have defaulted in timely submission of accounts.
As per their latest accounts and/ or information furnished by 18 out of the 67 working
SPSUs for 2022-23, the 18 SPSUs registered an annual turnover of ₹95,204.74 crore, which
was equal to 7.25 per cent of the GSDP of Telangana State during 2022-23.
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