Annual Report 2010-2011 - Gammon India

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 st MARCH, 2011
Schedule April 10 – March 11 April 09 – March 10
No. ` in Crores ` in Crores ` in Crores ` in Crores
INCOME
Sales / Turnover 11 8,899.69 7,113.62
Less: Excise Duty 86.04 66.14
8,813.65 7,047.48
Other Operating Income 12 29.99 20.15
Other Income 13 53.49 72.96
8,897.13 7,140.59
EXPENDITURE
Expenditure on Contracts / Direct Costs 14 7,783.20 5,850.49
Establishment Expenses 15 549.00 530.93
Financial Costs (Net) 16 47.10 386.89
Depreciation 244.36 201.24
Depreciation withdrawn from Revaluation Reserve (3.13) (3.13)
8,620.53 6,966.42
PROFIT BEFORE TAX & SHARE IN ASSOCIATES 276.60 174.17
Add: Share of Profit / (Loss) in associates (Refer Note B-3) (7.70) (6.56)
PROFIT BEFORE TAX & AFTER SHARE IN ASSOCIATES
Provision for Taxation :
268.90 167.61
– Current 164.24 91.05
– Deferred (7.50) 5.74
– Foreign Tax Paid 0.23 0.68
– MaT Credit Entitlement (13.77) –
– Prior year Tax adjustments 7.19 17.50
150.39 114.97
PROFIT AFTER TAX
add / (Less)
118.51 52.64
Prior Period adjustments (4.45) (2.91)
Transferred to Minority Interest (4.03) (4.03)
NET PROFIT AFTER PRIOR YEAR TAX CHARGE 110.03 45.70
Profit Brought Forward from last year 40.94 70.32
PROFIT AVAILABLE FOR APPROPRIATION
150.97 116.02
amount Transferred to General Reserve 32.21 29.75
amount Transferred to Debenture Redemption Reserve 45.50 38.38
amount Transferred from Debenture Redemption Reserve (19.16) –
Dividend from own shares (0.58) (0.35)
Transferred to Foreign Currency Translation Reserve 6.06 (9.01)
amount Transferred to Capital Reserve 0.99 –
adjustments to Minority Interest
Interim / Proposed Dividend
3.42 0.31
– Equity Shares 10.63 7.65
– Preference Shares – 6.07
Tax on Dividend 7.52 2.28
86.60 75.08
BALANCE CARRIED TO BALANCE SHEET
Earnings per Share (Refer Note B-23)
after Prior Year Tax Charges
64.37 40.94
Basic 8.51 3.49
Diluted 8.45 3.34
Notes to accounts 17
Schedule 1 to 17 annexed hereto form part of the Consolidated Balance Sheet and Consolidated Profit and Loss account
As per our attached report of even date
For and on behalf of the Board of Directors
For Natvarlal Vepari & Co.
Chartered Accountants
Firm Registration No. 106971W
N. JAYENDRAN
Partner
M. No. 40441
ABHIJIT RAJAN ROHIT MODI
Chairman & Managing Director Deputy Managing Director
C. C. DAYAL D. C. BAGDE
Director Executive Director
GIRISH BHAT GITA BADE
Chief Financial Officer Company Secretary
Mumbai, Dated : 19 th August, 2011 Mumbai, Dated : 19 th August, 2011
A NNUAL R EPORT I 2010/11
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