Pune: The balance sheet of the many cooperative sugar mills in Maharashtra is weak and they will not be to raise capital for running operations next season.
According to the news report published in Indianexpress.com, of the 95 sugar mills in the cooperative sector, 51 have week balance sheets.
The balance sheet analysis report available with the state sugar commissioner indicates that 53 mills have positive net worth whereas 42 reported negative net worth. During the last season, 30 sugar mills were in profit while others have reported losses.
A positive net worth depicts strong financial health while a negative one is indicative of weak balance sheets with liabilities more than assets.
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