Annual Report 2010-2011 - Gammon India

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c. In the absence of disclosures made in the accounts of one of the overseas joint venture Company regarding effect of acquisition and
disposal of subsidiaries, no such disclosure is possible to be made in the Consolidated Account.
d. Disclosures relating to the employee benefits for the overseas components have not been given in the absence of data in the required
format.
22. Disclosure under AS-29
Account Head Opening
Balance
A NNUAL R EPORT I 2010/11
Provisions
made during
the year
Paid/Utilized
during
the year
(` In Crores)
Closing
Balance
Provision for Risks and Contingencies 190.85 22.03 73.99 138.89
(Previous period figures in brackets)
(221.52) (14.48) (40.10) (190.85)
23. Earnings Per Share (EPS):
Earnings Per Share (EPS) = Net Profit attributable to shareholders/Weighted Number of Shares Outstanding:
Particulars As at
31st As at
March, 2011 31st March, 2010
Net Profit After Taxation (` in Crores) 110.03 45.70
Preference Dividend (incl. Dividend Distribution Tax) — 7.08
Net profit attributable to the Equity Share holders 110.03 38.62
Weighted Number of Shares during the period – Basic 129,365,956 110,624,017
Weighted Number of Shares during the period – Diluted 130,169,428 115,609,343
Earnings Per Share – Basic (`) 8.51 3.49
Earnings Per Share – Diluted (`) 8.45 3.34
Reconciliation of weighted number of shares outstanding during the year:
Particulars As at
31st As at
March, 2011 31st March, 2010
Nominal Value of Equity Shares (` per share)
For Basic EPS:
2 2
Number of Equity Shares at the beginning 127,438,698 106,850,776
Add : Issue of shares under ESOP 50,484 28,522
Add : Issue of shares under QIP — 12,809,400
Add : On conversion of warrants 82,50,000 7,750,000
Number of Equity Shares at the end 135,739,182 127,438,698
Weighted average of equity shares at the end
For Dilutive EPS:
129,365,956 110,624,017
Weighted average no. of shares in calculating basic EPS 129,365,956 110,624,017
Add : Shares kept in abeyance 725,800 725,800
Add : On grant of stock option under ESOP 77,671 131,099
Add : On account of convertible warrant — 4,128,427
Weighted average no. of shares in calculating dilutive EPS 130,169,428 115,609,343
For the purposes of computation of earning per shares the equity shares to be issued against the Equity Share Suspense account pursuant to the
scheme of amalgamation, preference dividend on preference share suspense account and the options granted to the employees of the erstwhile
ATSL have been considered in the weighted average shares during the period. Similarly 7,25,800 equity shares kept in abeyance from earlier
equity offerings have also been considered for dilution. The weighted shares have been determined with reference to the respective dates of
allotment of the shares issued under QIP, ESOPS and the Warrants respectively.
24. (a) Foreign currency exposure un-hedged as at 31 st March, 2011 is ` 678.28 Crores (Previous year ` 579.34 Crores) receivables and ` 201.03
Crores (Previous year ` 189.68 Crores) payables. Currency wise unhedged amounts are as follows:
Currency As at 31 st March, 2011 As at 31 st March, 2010
Receivables Payables Receivables Payables
USD 99,943,121 20,764,391 35,951,700 1,38,092,074
EURO 23,802,114 5,284,398 12,935,099 13,630,489
GBP — — — 181,342
AED 55,560 — — —
OMR 5,252,748 3,720,673 6,257,892 3,375,490
DZD 263,342,163 200,720,302 217,629,782 160,514,270
NGN — 6,213,707 — 6,213,707
KSH 30,567,932 3,200,359 8,992,397 5,381,707
BTN 27,323,645 181,743,200 — —