Uttarakhand Power Corporation Limited (UPCL)
UPCL is Uttarakhand's state-owned electricity-distribution company and the sole distribution licensee serving all 13 districts. The CAG's November 2025 report classified it among the state enterprises whose net worth was completely eroded and reported FY2023-24 net worth of minus Rs 3,830.15 crore.
This page is a factual profile built from official sources: enterprise filings, the DPE Public Enterprises Survey, PIB releases, government orders and CAG reports. Figures carry their year; where no official figure was found, the field is left out rather than estimated.
How we verify →UPCL is Uttarakhand's state-owned electricity-distribution company and the sole distribution licensee serving all 13 districts. The CAG's November 2025 report classified it among the state enterprises whose net worth was completely eroded and reported FY2023-24 net worth of minus Rs 3,830.15 crore.
What happened
CAG describes UPCL as the sole electricity-distribution licensee in Uttarakhand, serving 29.13 lakh consumers across all 13 districts as of 31 March 2024. It was incorporated on 12 February 2001 and is administratively controlled by the state Energy Secretary.
CAG's FY2023-24 financial table reports revenue from operations of Rs 9,648.12 crore, total revenue of Rs 10,077.88 crore and a net loss of Rs 146.91 crore.
The same audit reports accumulated losses of Rs 5,434.99 crore and negative net worth of Rs 3,830.15 crore at 31 March 2024. CAG explained that negative net worth means the owners' investment has been wiped out by accumulated losses.
The report also contains a subject-specific audit of billing efficiency and revenue realisation. The audit incorporated UPCL's November 2024 response and the Government of Uttarakhand's endorsement dated 8 January 2025 before being countersigned on 10 November 2025.
What we could not confirm
UPCL is operating and is labelled sick here solely because its officially reported net worth is negative; no closure, liquidation or disinvestment decision was found. A current employee count and a shareholder percentage after 31 March 2023 were not confirmed.