Annual Report 2010-2011 - Gammon India

More documents

Recommendations

Info

Name of the Statute State Nature of the dues Amount in Crores Period to which it relates Forum where Dispute is pending Service Tax Karnataka Non Inclusion of value of Material 0.25 2006-07 DG – CEI Service Tax Karnataka Non Inclusion of value of Material 2.57 2006-09 DG – CEI Service Tax Imports Show Cause cum demand notice 1.92 A.D.G-CET Excise Chennai Disputed Demand 0.03 2006 CESTAT Chennai Custom Disputed Demand of NHAI 0.32 2001-02 S.C. Duty Project Sales Tax Rajasthan Dispute in Increase in EC fees, Interest 0.81 2005-06 to 2007-08 DC – Appeals (x) The Company does not have any accumulated losses and has not incurred cash losses in current year and the previous year. (xi) In our Opinion and according to the information and explanation given to us by the Management the Company has not defaulted in repayment of dues to a financial institution or bank or debenture holders. (xii) On the basis of the audit procedures followed, the test checks of the transactions during the course of our audit and the representations from the management, the Company has maintained adequate records for loans granted on the basis of security by way of pledge of shares. (xiii) The Company is not a nidhi/mutual benefit fund/societies and accordingly clause (xiii) is not applicable. (xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor’s Report) Order, 2003 (as amended) are not applicable to the Company. (xv) According to the information and explanations the Company has given corporate guarantee for loans taken by other companies from banks or financial institutions. The other terms and conditions are not prima-facie prejudicial to the interest of the Company. (xvi) The term loans taken during the year have been applied for the purpose for which the loans were obtained. (xvii) According to the information and explanation given to us, on an over all examination of the Balance sheet of the Company, we report that no short term funds have been applied towards long term purposes. (xviii) The Company has made allotment of equity shares against equity warrants allotted in the previous year to parties and Companies covered in the Register maintained under Section 301 of the Act. The equity warrants were priced at a price prescribed in SEBI Issue of Capital and Disclosure Regulations 2009 and therefore the same are not prejudicial to the interests of the Company. (xix) The Company has raised secured redeemable debentures aggregating to ` 100 crores during the year the securities in respect of which have been created before the balance sheet date. (xx) The Company has not raised any money by public issues during the year and accordingly clause (xx) of Companies (Auditors’ Report) Order, 2003 is not applicable. (xxi) Based on the audit procedures performed and the information and explanation given by the management we report that no fraud on or by the Company has been noticed or reported during the year. Mumbai, Dated: 12 th August, 2011 For NATvARLAL vEPARI & CO. Chartered Accountants Firm Registration No. 106971W N. Jayendran Partner M. No. 40441 A NNUAL R EPORT I 2010/11 67
SOURCES OF FUNDS: 68 A NNUAL R EPORT I 2010/11 BALANCE SHEET AS AT 31 st MARCH, 2011 Schedule No. As at 31 st March, 2011 As at 31 st March, 2010 ` in Crores ` in Crores ` in Crores ` in Crores Shareholders' Funds Share Capital 1 27.49 25.83 Employee Stock Option Outstanding 1A 1.16 1.75 Equity Share Warrants – 18.60 Reserves & Surplus 2 2,088.15 1,898.73 2,116.80 1,944.91 Loan Funds Secured Loans 3 760.29 488.54 Unsecured Loans 4 1,365.86 806.01 2,126.15 1,294.55 Deferred Tax Liability (Refer Note B-30) 81.43 71.73 APPLICATION OF FUNDS: TOTAL 4,324.38 3,311.19 Fixed Assets 5 Gross Block 1,802.61 1,478.80 Less: Depreciation & Impairment 472.64 394.45 Net Block 1,329.97 1,084.35 Add: Capital Work-in-progress 52.68 84.64 1,382.65 1,168.99 Investments 6 211.30 198.19 Current Assets, Loans and Advances Interest Accrued Receivable 239.35 43.41 Inventories 7 1,488.10 1,309.15 Sundry Debtors 8 1,866.26 1,763.68 Cash & Bank Balances 9 57.65 72.49 Loans & Advances 10 1,381.39 1,065.21 5,032.75 4,253.94 Less: Current Liabilities and Provisions 11 Current Liabilities 2,275.45 2,279.76 Provisions 26.87 30.17 Notes to Accounts 16 Schedules 1 to 16 annexed hereto form part of the Balance Sheet and Profit and Loss Account As per our attached report of even date For Natvarlal Vepari & Co. Chartered Accountants Firm Registration No. 106971W N. JAYENDRAN Partner M. No. 40441 2,302.32 2,309.93 2,730.43 1,944.01 TOTAL 4,324.38 3,311.19 For and on behalf of the Board of Directors 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 : 12 th August, 2011 Mumbai, Dated : 12 th August, 2011
Page 2 and 3:
Contents A NNUAL R EPORT I 2010/11
Page 4 and 5:
Gammon House the second largest con
Page 6 and 7:
4 Board of Directors Mr. Peter Gamm
Page 8 and 9:
6 A NNUAL R EPORT I 2010/11 Beas Br
Page 10 and 11:
8 Sohar Jetty, Oman A NNUAL R EPORT
Page 12 and 13:
10 Region-wise Projects as on 31st
Page 14 and 15:
12 Financial Highlights of the deca
Page 16 and 17:
14 A NNUAL R EPORT I 2010/11 Off-Sh
Page 18 and 19:
6000 5000 4000 3000 2000 1000 0 16
Page 20 and 21: 18 Key Projects Chennai Metro Proje
Page 22 and 23: 20 Public Private Partnership Proje
Page 24 and 25: Pebble Bay at Dollars Colony, Benga
Page 26 and 27: Your Directors have pleasure in pre
Page 28 and 29: Option Scheme-2007 of erstwhile ATS
Page 30 and 31: Considering the continuous scarcity
Page 32 and 33: Statement showing details of Option
Page 34 and 35: Name and Designation of Director Mr
Page 36 and 37: (a) AUDIT COMMITTEE : The Audit Com
Page 38 and 39: Name, Designation and Address of Co
Page 40 and 41: (iii) Approval of the Members sough
Page 42 and 43: 6. MEANS OF COMMUNICATION : (a) Fin
Page 44 and 45: STOCK PERFORMANCE IN COMPARISION TO
Page 46 and 47: 18. Widening & strenghtening of exi
Page 48 and 49: CEO/CFO CERTIFICATION To The Board
Page 50 and 51: after USA and China. Indian road ne
Page 52 and 53: (a) Thermal power: In the present s
Page 54 and 55: • Growing urbanization has also r
Page 56 and 57: The Company sees immense opportunit
Page 58 and 59: The operative margin for financial
Page 60 and 61: 4. Your Company has entered into Jo
Page 62 and 63: 4. Patna Highway Projects Limited (
Page 64 and 65: VI. NON-FINANCIAL ORGANISATIONAL IN
Page 66 and 67: A uditors' report to the M e M bers
Page 68 and 69: A nnexure to the A uditors' report
Page 72 and 73: PROFIT AND LOSS ACCOUNT FOR THE YEA
Page 74 and 75: SCHEDULES FORMING PART OF BALANCE S
Page 76 and 77: SCHEDULE 5 FIXED ASSETS (` in Crore
Page 78 and 79: Face Value Nos. as on Nos. as on 31
Page 80 and 81: As at 31 st March, 2011 As at 31 st
Page 82 and 83: 2010-2011 2009-2010 ` in Crores ` i
Page 84 and 85: (c) Depreciation on revalued compon
Page 86 and 87: 9.95% - Redeemable Non-Convertible
Page 88 and 89: (b) Sundry Debtors include the foll
Page 90 and 91: 13. In respect of the road projects
Page 92 and 93: 20. Additional information pursuant
Page 94 and 95: 23. The Company is engaged mainly i
Page 96 and 97: 33. The balance with The Freyssinet
Page 98 and 99: (d) Transactions of Oman Branch and
Page 100 and 101: SCHEDULE - 1 Related Party Disclosu
Page 102 and 103: Nature of Transactions/Relationship
Page 104 and 105: Nature of Transactions/Relationship
Page 106 and 107: BALANCE SHEET ABSTRACT OF COMPANY
Page 108 and 109: Metropolitan Infrahousing Private L
Page 110 and 111: Patliputra Highway Limited * Patna
Page 112 and 113: Gammon Holdings B.V. Gammon Interna
Page 114 and 115: Sr. No. Particulars No. of shares/
Page 116 and 117: existing at the date of preparation
Page 118 and 119: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 120 and 121:
C. CASH FLOW FROM FINANCING ACTIVIT
Page 122 and 123:
SCHEDULE 4 FIXED ASSETS (` in Crore
Page 124 and 125:
As at 31 st March, 2011 As at 31 st
Page 126 and 127:
April 10 - March 11 April 09 - Marc
Page 128 and 129:
The cash compensation on account of
Page 130 and 131:
10. Investments Investments are cla
Page 132 and 133:
When the hedge concerns the fair va
Page 134 and 135:
Name of Subsidiaries Country of Inc
Page 136 and 137:
(b) In Case of Sofinter the financi
Page 138 and 139:
The particulars of Investment in As
Page 140 and 141:
K. SOFINTER: The loan envisages the
Page 142 and 143:
12. Retention Bonus for employees:
Page 144 and 145:
(b) In respect of the road projects
Page 146 and 147:
(b) In respect of currency swap der
Page 148 and 149:
VSPL, a subsidiary of the Company,
Page 150 and 151:
Annexure I Related party Disclosure
Page 152:
vakils
show all

Annual Report 2010-2011 - Gammon India

Create successful ePaper yourself

Delete template?

Save as template?