Annual Report 2010-2011 - Gammon India

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(b) Sundry Debtors include the following amount from Subsidiaries Name of the Company As at 31 st March, 2011 A NNUAL R EPORT I 2010/11 (` in Crores) As at 31 st March, 2010 Andhra Expressway Limited 0.15 4.71 Rajahmundry Expressway Limited 0.12 6.37 Mumbai Nasik Expressway Limited 28.57 4.67 SAE Powerlines S.r.l. 31.78 13.62 Indira Container Terminal Pvt. Limited (Joint Venture) 10.09 — Sikkim Hydro Power Ventures Limited 0.61 — (c) Interest receivable include the following amount from Subsidiaries TOTAL 71.32 29.37 Name of the Company As at 31 st March, 2011 (` in Crores) As at 31 st March, 2010 Gammon Billimoria Limited 4.47 3.35 Gammon Realty Limited 20.14 13.19 GACTEL Turnkey Projects Limited — 1.10 Deepmala Infrastructure Pvt. Limited 6.05 1.95 Metropolitan Infra Housing Pvt. Limited 170.37 0.47 Gammon Infrastructure Projects Limited 3.65 — Ansaldo Caldaie Boilers India Pvt. Limited 0.32 0.10 SAE Power Lines S.r.l. 0.73 0.87 ATSL Holding B.V. Netherlands 0.33 0.10 Transrail Lighting Limited 1.52 0.27 Associated Transrail Structures Limited, Nigeria 0.15 0.04 TOTAL 207.73 21.44 (d) The details of Beneficial & Contractual interest acquired and transferred in favour of its subsidiary M/s. Gammon Infrastructure Projects Limited is detailed herein below – Acquired Sr. No. Name of Company As at 31 (` in Crores) st March, 2011 As at 31st March, 2010 No. of Shares Deposit Received No. of Shares Deposit Received 1. Rajahmundry Expressway Limited 4,360,500 2.77 4,360,500 2.77 2. Andhra Expressway Limited 4,564,500 2.89 4,564,500 2.89 TOTAL 5.66 5.66 Transferred Sr. No. Name of Company As at 31 (` in Crores) st March, 2011 As at 31st March, 2010 No. of Shares Deposit Received No. of Shares Deposit Received 1. Kosi Bridge Infra. Co. Limited 12,562,831 12.56 12,562,831 12.56 2. Gorakhpur Infra. Co. Limited 14,947,238 14.95 9,596,923 9.60 3. Andhra Expressway Limited 5,655,000 8.49 5,655,000 8.49 4. Rajahmundry Expressway Limited 5,655,000 8.48 5,655,000 8.48 5. Tidong Hydro Power Limited 25,500 0.03 25,500 0.03 6. Indira Container Terminal Pvt. Limited 26,407,160 26.40 26,407,160 26.40 TOTAL 70.91 65.56 In respect of these shares where the voting rights and beneficial rights are so transferred, the holder continues to be the original allotees as per the records of the respective companies. 10. Provident Fund: The provisions of the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, have been implemented at the work sites where code numbers have been allotted. In respect of the remaining work sites necessary applications have been made for allotment of code numbers. However, a provision of ` 0.25 Crores is available to cover any liability arising there from. 85
86 11. Details of Loan to/dues from subsidiary: Name of the Company As at 31 st March, 2011 A NNUAL R EPORT I 2010/11 (` in Crores) As at 31 st March, 2010 Andhra Expressway Limited 0.15 0.15 Campo Puma Oriente S.A. 177.79 87.36 Deepmala Infrastruture Pvt. Limited 14.96 23.49 Franco Tosi Meccanica S.p.A. 0.50 0.45 Gactel Turnkey Projects Limited — 8.92 Gammon Infrastructure Projects Limited 73.96 0.06 Gammon & Billimoria Limited 19.52 9.76 Gammon Realty Limited 87.30 67.20 Gammon International FZE 68.22 189.18 Gammon Holdings BV 122.91 32.49 Gammon International BV 102.75 61.37 Gammon International LLC — 0.19 Gammon Power Limited 0.14 0.14 Kosi Bridge Infrastructure Projects Limited 0.39 0.03 Rajahmundry Expressway Limited 0.12 0.12 Vizag Seaport Pvt. Limited — 0.41 Sikkim Hydro Power Ventures Limited 0.01 0.01 Tidong Hydro Power Limited 0.56 0.56 Rajahmundry Godavari Bridge Limited 0.35 — Ansaldo Caldaie Boilers India Pvt. Limited 0.57 — SAE Transmission India Limited 0.14 — Metropolitan Infra Housing Pvt. Limited 97.27 — Mumbai Nasik Expressway Limited 0.01 — Transrail Lighting Limited 22.57 4.84 Associated Transrail Structures Limited, Nigeria 0.97 0.53 SAE Power Lines S.r.l. 28.48 25.56 ATSL Holdings BV Netherlands 12.76 3.41 Franco Tosi Turbines Pvt. Limited 0.10 — 12. Managerial Remuneration: TOTAL 832.50 516.23 Particulars Year ended 31 st March, 2011 (` in Crores) Year ended 31 st March, 2010 Managerial remuneration for Directors included in the Profit and Loss Account comprises: – Salaries, Contribution to Provident Fund and Other Funds 9.40 4.89 – Commission — 1.40 – Sitting fees to Independent Directors 0.07 0.12 – Perquisites (at monetary value) 0.11 0.03 TOTAL 9.58 6.44 Computation of remuneration payable to Managing and Whole-time Directors as per Schedule XIII to the Companies Act, 1956 Profit before taxation as per Profit and Loss Account 176.68 211.25 Add: Directors’ remuneration 9.51 6.44 Directors’ fees 0.07 0.12 Depreciation (net of transfer from revaluation) 91.71 70.93 Loss/(Profit) on sale of assets (0.14) 0.31 Less: Depreciation under section 350 91.71 70.93 Loss/(Profit) on sale of assets as per section 350 (0.14) 0.31 Net Profit under section 349 of the Companies Act, 1956 186.26 217.81 Managerial Remuneration at 10% thereof 18.62 21.78 Restricted to Actual Remuneration 9.51 6.32
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Contents A NNUAL R EPORT I 2010/11
Page 4 and 5:
Gammon House the second largest con
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4 Board of Directors Mr. Peter Gamm
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6 A NNUAL R EPORT I 2010/11 Beas Br
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8 Sohar Jetty, Oman A NNUAL R EPORT
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10 Region-wise Projects as on 31st
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12 Financial Highlights of the deca
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14 A NNUAL R EPORT I 2010/11 Off-Sh
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6000 5000 4000 3000 2000 1000 0 16
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18 Key Projects Chennai Metro Proje
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20 Public Private Partnership Proje
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Pebble Bay at Dollars Colony, Benga
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Your Directors have pleasure in pre
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Option Scheme-2007 of erstwhile ATS
Page 30 and 31:
Considering the continuous scarcity
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Statement showing details of Option
Page 34 and 35:
Name and Designation of Director Mr
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(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 70 and 71: Name of the Statute State Nature of
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 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
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The particulars of Investment in As
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K. SOFINTER: The loan envisages the
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12. Retention Bonus for employees:
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(b) In respect of the road projects
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(b) In respect of currency swap der
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VSPL, a subsidiary of the Company,
Page 150 and 151:
Annexure I Related party Disclosure
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