Gammon India Ltd


BSE: 509550 | NSE: GAMMONIND | ISIN: INE259B01020 
Market Cap: [Rs.Cr.] 285 | Face Value: [Rs.] 2
Industry: Construction

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Board Meet

13-Mar-13 
Gammon India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 13, 2013, after reviewing the current financial position of the Company, has decided to initiate discussions with its Lenders for realigning the Company's debts through the Corporate Debt Restructuring process. 
14-Feb-13 
Quarterly Results 
14-Nov-12 
Quarterly Results 
14-Aug-12 
Gammon India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 14, 2012, inter alia, to consider the following business: 1. To consider, approve and take on record the Audited Financial Results for the year ended March 31, 2012. 2. To recommend dividend, if any, for the year ended March 31, 2012. 3. To consider, approve and take on record the Unaudited Financial Results for the First Quarter ended June 30, 2012. Gammon India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 14, 2012, inter alia, has recommended dividend of Rs. 0.20 paise per equity share (i.e. 10% per equity share of face value of Rs. 2/- each) for the Financial year ended March 31, 2012. (As Per BSE Announcement Dated on 14.08.2012) 
15-May-12 
Quarterly Results Gammon India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 15, 2012, inter alia, took on record the resignation tendered by Mr. Rohit Modi - Whole-time Director, designated as Deputy Managing Director. The resignation shall be effective upon the close of the working hours on May 31, 2012. (A Per BSE ANnouncement Website Dated on15/05/2012) 

AGM

25-Sep-12
AGM : 25.09.2012 Gammon India Ltd has informed BSE that the 90th Annual General Meeting (AGM) of the Company was held on September 25, 2012. (As per BSE Announcement Dated on 26.09.2012)  
26-Sep-11
AGM 26/09/2011 Gammon India Ltd has informed BSE that the members at the 89th Annual General Meeting (AGM) of the Company held on September 26, 2011 inter alia, have transact to the following: 1. The Audited Balance Sheet as at March 31, 2011 and Profit & Loss Account for the year ended on that date together with the Reports of the Board of Directors and the Auditors thereon, were adopted by the shareholders. 2. The shareholders confirmed payment of interim dividend of Rs. 0.40/- paisa per share (i.e. 20%) of Rs. 2/- each for the year 2010-2011 and also approved declaration of dividend of Rs. 0.40/- paisa per share (i.e. 20%) on 136,464,982 equity shares of Rs. 2/- each for the year ended March 31, 2011. 3. Mr. C. C. Dayal, who retired by rotation, was re-appointed as a Director of the Company. 4. Mr. Naval Choudhary, who retired by rotation, was re-appointed as a Director of the Company. 5. Mr. Atul Kumar Shukla, who retired by rotation, was re-appointed as a Director of the Company. 6. M/s. Natvarlal Vepari & Co., Chartered Accountants, the retiring Auditors of the Company, were re-appointed as the Statutory Auditors of the Company to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting on such remuneration as may be determined by the Board of Directors. 7. M/s. Vinod Modi & Associates, Chartered Accountants and M/s. M. G. Shah & Associates, Chartered Accountants were re-appointed as Joint Branch Auditors of Gammon India Limited - Transmission Business Headquarters, Nagpur to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting to examine and audit the books of accounts for the financial year 2011-2012 on such remuneration as may be determined by the Board of Directors. 8. M/s. Natvarlal Vepari & Co., Chartered Accountants, were re-appointed as the Branch Auditors of the Company pursuant to Section 228 of the Companies Act, 1956 to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting to examine and audit the books of accounts of the Company's branch office at Muscat, Oman for the financial year 2011-2012 on such remuneration as may be determined by the Board of Directors. The shareholders also authorized the Board of Directors to appoint as branch auditor of any branch office of the Company, existing including those which may be opened/acquired hereafter in India or abroad in consultation with the Company's Statutory Auditors, any person qualified to act as branch auditor(s) within the provisions of Section 228 of the Companies Act, 1956. 9. The Shareholders have approved re-appointment of Mr. Abhijit Rajan as the Chairman and Managing Director of the Company for a period of five (5) years with effect from May 17, 2011. (As Per BSE Announcement Dated on 26.09.2011) 
28-Sep-10
Gammon India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 14, 2010, Further, the Board of Directors has decided to convene the 88th Annual General Meeting of the Company on September 28, 2010. Notice of the same will be dispatched to all the shareholders within the stipulated time frame. Gammon India Limited has submitted to the Exchange a copy of the proceedings of the Annual General Meeting of the Company held on September 28, 2010. (As Per NSE Bulletin dated on 30.09.2010) Gammon India Ltd has informed BSE that the members at the 88th Annual General Meeting (AGM) of the Company held on September 28, 2010, inter alia, have accorded to the following: 1. The Audited Balance Sheet as at March 31, 2010 and Profit & Loss Account for the year ended on that date together with the Reports of the Board of Directors and the Auditors thereon, were adopted by the shareholders. 2. The shareholders approved declaration of dividend @ Rs. 21/- per share on 6% Redeemable Non Convertible Preference Shares for the year ended March 31, 2010 payable on a proportionate basis up to the date of redemption. 3. The shareholders also approved declaration of dividend of Rs. 0.60/- paisa per share (i.e. 30%) on 128,183,112 equity shares of Rs. 2/- each for the year ended March 31, 2010. 4. Dr. Naushad Forbes, who retired by rotation, was re-appointed as a Director of the Company. 5. Mr. Jagdish C. Sheth, who retired by rotation, was re-appointed as a Director of the Company. 5. Mrs. Urvashi Saxena, who retired by rotation, was re-appointed as a Director of the Company. 7. M/s. Natvarlal Vepari & Co., Chartered Accountants, the retiring Auditors of the Company, were re-appointed as the Statutory Auditors of the Company to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting on such remuneration as may be determined by the Board of Directors. 8. M/s Vinod Modi & Associates, Chartered Accountants and M/s M. G. Shah & Associates, Chartered Accountants were re-appointed as Joint Branch Auditors of Gammon India Limited - Transmission Business Headquarters, Nagpur to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting to examine and audit the books of accounts for the financial year 2010-2011 on such remuneration as may be determined by the Board of Directors. 9. M/s. Natvarlal Vepari & Co., Chartered Accountants, were re-appointed as the Branch Auditors of the Company pursuant to Section 228 of the Companies Act, 1956 to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting to examine and audit the books of accounts of the Company's branch office at Muscat, Oman for the financial year 2010-2011 on such remuneration as may be determined by the Board of Directors. The shareholders also authorized the Board of Directors to appoint as branch auditor of any branch office of the Company, existing including those which may be opened/acquired hereafter in India or abroad in consultation with the Company's Statutory Auditors, any person qualified to act as branch auditor(s) within the provisions of Section 228 of the Companies Act, 1956. 10 . The Shareholders have, subject to the approval of the Central Government, approved revision in the remuneration of Mr. Harshit Rajan, Head Procurement (relative of Mr. Abhijit Rajan, Chairman and Managing Director) with effect from April 01, 2010 or such date as may be approved by the Central Government. (As Per BSE Announcement Website dated on 01.10.2010) 
14-Oct-09
Gammon India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 09, 2009, inter alia, has decided to convene the 87th Annual General Meeting (AGM) of the Company on October 14, 2009. Gammon India Ltd has informed BSE that the members at the 87th Annual General Meeting (AGM) of the Company held on October 14, 2009, inter alia, have accorded to the following: 1.The Audited Profit & Loss Account for the period ended March 31, 2009 and the Balance Sheet as at that date together with the Reports of the Board of Directors and Auditors thereon, were adopted by the shareholders. 2.The shareholders approved dividend @ Rs. 21/- per share on 6% Redeemable Non Convertible Preference Shares for the year ended March 31, 2009. 3.The shareholders approved dividend of Rs. 0.60 paise per share (i.e. 30%) on 10,75,86,696 equity shares of Rs. 2/- each for the year ended March 31, 2009. 4. Mr. Chandrahas C. Dayal & Mr. Atul Dayal who retires by rotation were re-appointed as Directors of the Company. 5.M/s. Natvarlal Vepari & Co., Chartered Accountants, the retiring Auditors of the Company, were re-appointed as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting on such remuneration as may be determined by the Board of Directors. 6.M/s. Vinod Modi & Associates, Chartered Accountants and M/s. M. G. Shah & Associates, Chartered Accountants were appointed as Joint Branch Auditors of Gammon India Ltd - Transmission Business Headquarters, Nagpur to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting and to examine and audit the books of accounts for the financial year 2009 - 2010 on such remuneration as may be fixed by the Board. 7. M/s. Natvarlal Vepari & Co., Chartered Accountants, were appointed as the Branch Auditors of the Company pursuant to Section 228 of the Companies Act, 1956 to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting for the financial year 2009-10 for the Branch Office located at Muscat, Oman. 8. The Shareholders approved the appointment of Mr. Naval Choudhary as a Director of the Company with effect from May 21, 2009, liable to retire by rotation. 9. The Shareholders approved the appointment of Mr. Parvez Umrigar as a Director of the Company with effect from 1st June 2009, liable to retire by rotation. 10. The Shareholders approved the appointment of Mr. Rohit Modi as a Director of the Company with effect from June 07, 2009. 11. The Shareholders approved the appointment of Mr. Digambar C. Bagde as a Director of the Company with effect from July 09, 2009. 12. The Shareholders approved the appointment of Mr. Atul Kumar Shukla as a Director of the Company with effect from July 09 2009, liable to retire by rotation. 13. The Shareholders approved the re-appointment of Mr. Rajul A. Bhansali as Whole-time Director of the Company designated as Executive Director - International Operations for a period of 3 (Three) years with effect from March 30, 2009. 14. The Shareholders approved the appointment of Mr. Rohit Modi as Whole-time Director of the Company designated as Deputy Managing Director for a period of 5 (Five) years with effect from June, 07 2009. 15. The Shareholders approved the appointment of Mr. Digambar C. Bagde as Director and CEO (T & D) Business of the Company for a period of 3 (Three) years with effect from July 09, 2009. 16. The Shareholders, subject to the approval of the Central Government, approved the appointment of Mr. Harshit Rajan ( relative of Mr. Abhijit Rajan, Chairman and Managing Director) as Head Procurement with effect from June 01, 2009. 17. The Shareholders also approved, subject to the approval of the Central Government, payment of remuneration not exceeding Rs. 60,00,00/- per annum to Mr. Parvez Umrigar, Non-Executive Director of the Company with effect from June 01, 2009. 18 The Shareholders authorized the Board of Directors to borrow monies, in excess of the paid-up capital and free reserves of the Company, not exceeding an amount of Rupees Five Thousand Crores. (As Per BSE Announcement Website dated on 20.10.2009) 
25-Sep-08
Gammon India Ltd. has informed the Exchange that the Annual General Meeting of the Company is scheduled to be held on September 25, 2008. Gammon India Ltd has informed BSE that the members at the 86th Annual General Meeting (AGM) of the Company held on September 25, 2008, inter alia, have accorded to the following: 1. The Audited Profit & Loss Account for the period ended March 31, 2008 and the Balance Sheet as at that date together with the Reports of the Board of Directors and Auditors thereon, were adopted by the shareholders. 2. The shareholders approved dividend at 25% on 87,470,470 equity shares of Rs 2/- each for the period ended March 31, 2008. 3. Mr. Peter Gammon & Dr. Naushad Forbes who retires by rotation was re-appointed as Directors of the Company. 4. M/s. Natvarlal Vepari & Co., Chartered Accountants, the retiring Auditors of the Company, were re-appointed as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting on such remuneration as may be determined by the Board of Directors. 6. M/s. Natvarlal Vepari & Co., Chartered Accountants, were appointed as the Branch Auditors of the Company pursuant to Section 228 of the Companies Act, 1956 to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting for the financial year 2008-09 for the Branch Office located at Muscat, Oman. 7. The Shareholders approved the Ordinary Resolution authorizing the Company re-appointing Mr. Himanshu V Parikh as Whole-time Director of the Company for a period of 5 (Five) years with effect from May 01, 2008. 8. The Shareholders approved the Ordinary Resolution authorizing the Company appointing Mr. Jagdish Sheth & Mrs. Uravashi Saxena as Directors of the Company liable to retire by rotation. (As per BSE Announcement dated on 26/09/2008) 

EGM

23-Oct-09
With reference to the earlier announcement dated September 25, 2009 regarding Outcome of Board Meeting held for considering the Fund Raising Option, Gammon India Ltd has informed BSE that the Board of Directors vide a resolution passed by circulation on September 26, 2009, has decided that the member's approval for Fund Raising will be sought by convening an Extra Ordinary General Meeting of the Shareholders instead of obtaining the same by conducting a Postal Ballot and accordingly has approved the draft Notice of Extra Ordinary General Meeting to be convened on October 23, 2009. Gammon India Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 23, 2009, inter alia, have accorded the following: 1. The shareholders passed the Special Resolution authorizing the Board of Directors of the Company to raise capital by issuing securities to the Qualified Institutional Buyers in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws upto an amount not exceeding USD 200 Million. 2. The Shareholders also approved Increase / variation in remuneration payable to Mr. Himanshu Parikh - Executive Director of the Company. (As Per BSE Announcement Dated on 23/10/2009) 
17-Jun-09
Appointment of Directors as follows: (1) Mr. Rajul Bhansali, Executive Director has been re-appointed as an Executive Director for a period of three Years w.e.f. March 30, 2009, subject to approval by Shareholders. (2) Mr. Parvez Umrigar has been appointed as an Additional Director (Non-Executive Non- Independent) of the Company w.e.f. June 01, 2009 subject to approval by Shareholders. (3) Mr. Naval Chaudhary has been appointed as an Additional Director (Independent Non-Executive) of the Company w.e.f. May 21, 2009 subject to approval by Shareholders. (4) Mr. Rohit Modi has been appointed as the Deputy Managing Director (Executive), w.e.f. June 07, 2009, subject to approval by Shareholders. (II) Issue of 1,60,00,000 (One Crore Sixty Lacs Only) Warrants convertible into equal number of equity shares of Rs 2/- each at a price of Rs 90.20 each on preferential basis in compliance with Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000 and Companies Act 1956, to the promoter group as follows: (a) Name of the promoter : Pacific Energy Pvt. Ltd. No of Warrants : 30,00,000. (b) Name of the promoter : First Asian Capital Resources Pvt. Ltd No of Warrants : 65,00,000. (c) Name of the promoter : Devyani Estate and Properties Pvt. Ltd No of Warrants : 65,00,000. Total No. of Warrants : 1,60,00,000. (III) Alteration of the Articles of Association by insertion of new articles 6A in the Article of Association of the Company. (IV) Approved draft notice of Extra Ordinary General Meeting to be held on June 17, 2009.the Register of Members & Share Transfer Books of the Company will remain closed from to (both days inclusive) for the purpose of. Gammon India Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on June 17, 2009, inter alia, to transact the following business : 1. Insertion of new Article 6A in the Articles of Association of the Company. 2. To offer, issue for cash and allot on a preferential basis in one or more tranches, 1,60,00,000 (One Crore Sixty Lacs) equity warrants ('Equity Warrants') to the following entities: Name of Allottees : Pacific Energy Pvt Ltd ('PEPL') No of Warrants : 30,00,000 Category : Promoter Name of Allottees : First Asian Capital Resources Pvt Ltd (FACRPL) No of Warrants : 65,00,000 Category : Promoter Name of Allottees : Devyani Estate & Properties Pvt Ltd ('DEPPL') No of Warrants : 65,00,000 Category : Promoter (As Per BSE Announcement Dated on 27/05/2009) Gammon India Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company was held on June 17, 2009. (As Per BSE Announcement Website dated on 17.06.2009) 
20-Feb-09
Gammon India Ltd has informed BSE that pursuant by an Order made on the January 16, 2009, in the above Company Application, the Hon'ble High Court of Judicature at Bombay has directed that a seperate meeting of the Equity Shareholders of the Company will be held on February 20, 2009., for the purpose of considering, and, if thought fit, approving with or without modification the Scheme of Amalgamation of Associated Transrail Structures Ltd, the Transfercr Company with Gammon India Ltd, the Applicant Company / Transferee Company. Gammon India Ltd. has informed the Exchange that: "Equity Shareholders of the Company at its Court Convened Meeting held on February 20, 2009, has approved the Scheme of Amalgamation between Associated Transrail Structures Limited (the "Transferor Company") with Gammon India Limited (the "Transferee Company") and their respective Shareholders. ("the Scheme")". (As Per NSE Bulletin dated on 24.02.2009) 
24-Nov-05
Gammon India Ltd. has submitted to the Exchange a copy of the Notice of the EGM of the members of the Company to be held on November 24, 2005. Inter alia, to consider the issue GDRs / ADRs / FCCBs / other instruments by way of international offerings in one or more tranches, upto to an amount not exceeding US $ 100 million to foreign investors, institutions, mutual funds etc, subject to necessary approvals / provisions. (As per BSE Bulletin dated on 10/11/2005) 
12-Nov-05
Gammon India Ltd. has submitted to the Exchange a copy of the Notice of the EGM of the members of the Company to be held on November 12, 2005. EGM 12/11/2005 To consider: 1. Authority to the Board to issue, offer and allot Global Depository Receipts (GDRs), American Depository Receipts (ADRs), Foreign Currency Convertible Bonds (FCCBs) and / or Equity Shares or any other securities, upto a sum not exceeding US $ 100 million, subject to necessary provisions. 2. Authority to the Board to make / give from time to time any loan (s) / advances / deposits, make investments in / to acquire by way of subscription, purchase or otherwise the securities of and to give any guarantee and / or provide any security in connection with a loan made by any other person to or to any other person by, the below mentioned bodies corporate, in any combination(s) thereof: a. Mumbai Nasik Expressway Ltd (MNEL) subject to a limit of Rs 550,00,00,000/- b. Sikkim Hydro Power Ventures Ltd (SHPVL), subject to a limit of Rs 150,00,00,000/- provided that no loan to above said bodies corporate shall be made by the Company, at a rate of interest lower than the prevailing bank rate or such other rate as may be prescribed by the relevant authorities from time to time. (As per BSE Bulletin dated on 18/10/2005) 

Peer Comparison

Company Market Cap
(Rs. in Cr.)
P/E (TTM)
(x)
P/BV (TTM)
(x)
EV/EBIDTA
(x)
ROE
(%)
ROCE
(%)
D/E
(x)
DLF 37,561.62 63.00 2.30 16.41 6.0 8.2 1.30
JP Associates 14,934.21 29.78 1.14 9.94 9.6 9.4 2.00
Oberoi Realty 7,862.75 24.00 3.14 21.24 11.9 15.7 0.00
Unitech 6,593.08 50.40 0.68 14.93 3.1 4.8 0.43
Prestige Estates 5,780.25 20.93 2.13 14.86 6.2 7.9 0.52
Jaypee Infratec. 5,208.49 7.50 0.82 8.15 24.5 13.8 1.28
Godrej Propert. 4,398.12 35.85 3.22 31.59 5.9 7.2 0.88
IRB Infra.Devl. 4,046.48 21.59 2.58 24.41 11.3 8.4 1.04
Sobha Developer. 3,990.55 20.29 1.89 9.80 10.4 12.9 0.61
Phoenix Mills 3,889.22 31.08 2.34 17.89 6.5 8.5 0.10
Indbull.RealEst. 3,317.76 12.35 0.60 26.56 0.2 2.0 0.23
Era Infra Engg. 2,846.08 17.65 1.59 7.19 9.1 14.1 1.89
Sunteck Realty 2,544.75 224.58 6.95 115.12 2.6 4.4 0.15
Omaxe 2,473.37 37.40 1.64 16.89 4.3 7.7 0.77
H D I L 2,126.43 4.22 0.21 7.08 3.9 7.2 0.40

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Key Information

Key Executives:

Abhijit Rajan , Chairman & Managing Director  

Peter Gammon , Chairman Emeritus  

Rajul A Bhansali , Executive Director(Intl. Ope.)  

C C Dayal , Director  


Company Head Office / Quarters:
Gammon House,
Veer Savarkar Marg Prabhadevi,
Mumbai,
Maharashtra-400025
Phone : 91-022-66614000/67444000/61153000
Fax : 91-022-24300529/221/2430021
E-mail : gammon@gammonindia.com
Web : http://www.gammonindia.com
Registrars:
Link Intime India Pvt Ltd
C-13 Pannalal Silk
Mills Cmpd LBS Marg
Bhandup West
Mumbai - 400 078

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