GAMMON INDIA LIMITED

More documents

Recommendations

Info

Our vision is to be a world-class construction and infrastructure enterprise committed to quality, timely completion of projects, customer satisfaction, continuous learning and enhancement of stakeholders‘ value. Some of our key business strategies include: Capture high growth opportunities throughout India: We intend to target specific sectors and geographical areas where we believe there is high growth potential. We also intend to exploit our competitive advantages in these high-value businesses, and will continue to evaluate and explore the opportunities in the roads, transportation and power sectors. In particular, we believe that the road and transportation sectors will provide significant opportunities, which may come as BOT projects that we undertake with third parties as an EPC contractor or with our subsidiary, GIPL. We also expect the power sector to experience robust growth, and we are positioning ourselves to capture these opportunities by leveraging our experience and project execution capabilities in the construction of thermal, hydroelectric and nuclear power plants. We intend to form joint ventures for a number of power projects as well as bid for the ancillary construction work associated with these projects. Enhance our EPC capabilities: Quality of work and timely completion of projects are critical to our EPC and construction business. As a result, we aim to: - consistently deliver a quality product, meeting all relevant specifications and requirements; - achieve customer satisfaction through cost effective and timely completion; - motivate and train our staff for continual improvement of productivity and quality standards; and - update and implement our procedures in line with developments in international standards. Position ourselves as a one stop energy shop: The power segment in India has witnessed and is expected to have a robust growth with projected demand for new projects of 100,000 MW during the period 2008-2013. (Source: Ministry of Power) There is an increasing trend for the utility power project owners to engage companies which can provide solutions from concept to commissioning. In light of the above, we intend to position ourselves as a ―one-stop energy shop‖, providing consulting, design, EPC, O&M, manufacturing and other related services for nuclear, thermal, hydroelectric and non-conventional power projects. As a result of the amalgamation of ATSL to our Company, we have scaled up our power transmission and distribution business. We believe that our acquisitions will produce substantial synergistic benefits, including a centralized command structure, economies of scale, diversity of operations and better visibility as an integrated construction company. We intend to utilize these synergies and expand our products and services offering in India, and we also plan to exploit these advantages by participating in large-scale projects to optimize the allocation of resources and improve profitability. We have been pre-qualified to supply boilers and turbines to various Indian companies, such as NHPC Limited, National Thermal Power Corporation and North Eastern Electric Power Corporation. We believe we are ideally positioned to capitalize on the strengths of the different businesses in which our subsidiaries and joint ventures are engaged. Increase our international presence: We intend to strengthen our international operations by exploring business opportunities for developing projects outside India. We have acquired substantial stakes in two Italian companies, Sofinter and FTM. Although Sofinter, FTM and SAE Powerlines made losses of €41.69 million, €17.66 million and €2.77 million, respectively, in the year ended December 31, 2008, various improvements have been carried out in areas such as the product and market mix, the supply chain management process and costs control. We also aim to bring cost-competitiveness to our Italian subsidiaries and joint ventures through sharing resources or using low-cost manufacturing facilities in India. Furthermore, to meet the anticipated growth in demand in energy we have ventured into drilling and exploration, through a participating interest of 61.00% in a marginal field in Ecuador in joint venture with Joshi Technologies International Inc. and a participating interest of 50.00% in an exploration program in Nebraska, U.S. We will continue to evaluate opportunities to expand into new geographical and business areas whether by means of organic growth or through strategic acquisitions. Joint Venture Arrangements 73
For certain large construction or infrastructure development projects that require resources, such as technical, financial strength, equipment, manpower or local content resources, currently not available with us, we seek to make alliances through the formation of special purpose vehicles (―SPVs‖) or project-specific joint ventures with other firms, which is a common practice in the civil engineering and construction industry. We also form SPVs with other firms, particularly for large projects. In a project-specific joint venture, each member of the joint venture shares the risks and revenues of the project according to a pre-determined agreement. Members are typically jointly and severally liable to third parties. The agreements specifically assign the work to be performed by each party and the responsibilities of each party with respect to the joint venture, including how the joint venture will be managed and the equipment, personnel or other assets that each party will contribute or make available to the joint venture. The profits and losses of the joint venture are shared among the members according to a pre-determined ratio. The fixed assets that are acquired by the joint venture are generally transferred to the respective joint venture members upon completion of the joint venture project. The agreements also set forth the manner in which any disputes among the members will be resolved. In the event of a default by other members of any joint venture arrangement that we may enter into, we would remain liable for the completion of the project. As of date our Company has formed a number of jointly controlled operation with third parties, some of which are further elaborated below: Name of Joint Venture Joint Venture Partner/ Affiliate Description of Project Gammon Atlanta Atlanta Braithwaite Burn & Jessop Orissa Road Works Gammon BBJ Co.Ltd. Sadbhav Engineering Transmission Lines Brahmani Gammon Sadbhav Imp Pvt.Ltd Srinivas Construction Wadape Gonde Project Gammon Srinivas Imp Pvt.Ltd Archirodon Construction Sewa Project GIL Archirodon Imp Company Braithwaite Burn & Jessop Anjikhad Bridge Project BBJ GIL Imp Co.Ltd. Munger Bridge Project JAGER GIL Jaeger Bau GmbH Parbati Stage-III Jaeger Gammon Imp Jaeger Lata Tapovan Patel Gammon Imp Patel Engineering Ltd Rampur Civil Works Gammon Patel Patel Engineering Ltd Hyundai Engineering & Rampur Civil Works-II Hyundai Gammon Imp Construction Co. Ltd NHAI-Chambal Bridge Project Jaeger Gammon Jaeger Bau GmbH Braithwaite Burn & Jessop Naitwar Mori Hydroelectric Power Project Gammon BBJ Co.Ltd. Mahandi Railway Bridge II Project Jaeger Gammon Jaeger Bau GmbH Dibang Lot-4 Head Race Tunnel Construction and maintenance of roads, Gammon Hot Engineering Imp Hot Engineering Ltd bridges for Al Jahra Road – Kuwait Gammon Construtora Cidade Tensacuai Constructura Cidade Ltd A Imp & Tensacciai S.p.a Signature Bridge Gammon Pratibha (BangaloreWater Contract W1-Raw Water Transmission Supply and Sewerage Board) Imp Pratibha Industries Ltd CKD Blansko Engineering System Gammon CKD Jyoti Imp & Jyoti Ltd Package 23 Thipparam Chevella Reservoir Lemcon Construction Pvt. Civil Works for Underground Rock Lemcon Gammon Jointly Imp Ltd Caverns Part-A & Part-B at Padur Mosmetrostroy Gammon Imp Mosmetrostroy Construction of Tunnel Underground No.2 74
Page 1 and 2:
The information in this Preliminary
Page 3 and 4:
NOTICE TO INVESTORS The Company acc
Page 5 and 6:
different from future results, perf
Page 7 and 8:
your decision to accept an invitati
Page 9 and 10:
SEBI nor any other regulatory autho
Page 11 and 12:
FORWARD LOOKING STATEMENTS All stat
Page 13 and 14:
Term Description Company in consult
Page 15 and 16:
Term Description NH National Highwa
Page 17 and 18:
Lock-up The Company will not, for a
Page 19 and 20:
ased in Italy that is engaged in th
Page 21 and 22:
Our Strategy for our short-term com
Page 23 and 24:
Sr. No. SUMMARY FINANCIAL INFORMATI
Page 25 and 26:
REFORMATTED CONSOLIDATED BALANCE SH
Page 27 and 28:
REFORMATTED CONSOLIDATED PROFIT AND
Page 29 and 30:
REFORMATTED CONSOLIDATED CASH FLOW
Page 31 and 32:
RISK FACTORS An investment in equit
Page 33 and 34:
the tender, the contract is usually
Page 35 and 36:
As the revenue structure for the SP
Page 37 and 38:
of actual traffic volume. Adverse d
Page 39 and 40:
esult in decreased sales of our pro
Page 41 and 42:
in two or three years) of interest
Page 43 and 44:
If our subsidiaries or SPVs default
Page 45 and 46:
Our inability to obtain, renew or m
Page 47 and 48:
As of March 31, 2009, our contingen
Page 49 and 50:
on which such additional financing
Page 51 and 52: The Equity Shares are being offered
Page 53 and 54: market for our equity shares will n
Page 55 and 56: (of sale proceeds), a no objection/
Page 57 and 58: Date National Stock Exchange of Ind
Page 59 and 60: USE OF PROCEEDS The total proceeds
Page 61 and 62: Vesting Date No. Of Options Exercis
Page 63 and 64: EXCHANGE RATE INFORMATION The follo
Page 65 and 66: development phase. GIPL also offers
Page 67 and 68: during summer months and during the
Page 69 and 70: c) Revenues from providing services
Page 71 and 72: Intangible assets are amortized ove
Page 73 and 74: Guidelines, 1999 issued by Securiti
Page 75 and 76: and tax credit, if any, and compute
Page 77 and 78: Profit After Tax. Our profit after
Page 79 and 80: primarily by trade payables and wor
Page 81 and 82: and components are fluctuating base
Page 83 and 84: Development Authorities, Metro Rail
Page 85 and 86: Indian Road Network Kilometers (app
Page 87 and 88: plan will soon be presented to the
Page 89 and 90: The Airports Sector in India Indian
Page 91 and 92: An investment of about Rs.720,600.0
Page 93 and 94: China‘s electricity consumption h
Page 95 and 96: Source Central State Private Total
Page 97 and 98: Overview BUSINESS We are the flagsh
Page 99 and 100: ** formerly Bedi Seaport Limited GA
Page 101: Our Strategy flue chimneys, nuclear
Page 105 and 106: oriented services. In addition, we
Page 107 and 108: Kalwakruthy Stage-3-Lift Irrigation
Page 109 and 110: Name of SPV Revenue Model MNEL KBIC
Page 111 and 112: Ansaldo Oseberg D Offshore Platform
Page 113 and 114: ITEA ACCAM S.p.A. Incinerator Plant
Page 115 and 116: Our Company, with its joint venture
Page 117 and 118: Board of Directors BOARD OF DIRECTO
Page 119 and 120: Name, Designation, DIN and Address
Page 121 and 122: Name, Designation, DIN and Address
Page 123 and 124: Mr. Parvez Umrigar, is a B. Com., A
Page 125 and 126: Mr. Himanshu Parikh Pursuant to a s
Page 127 and 128: Organisation Chart 98
Page 129 and 130: A B Desai C Bhattacharjee K Jayacha
Page 131 and 132: Shareholding Pattern PRINCIPAL SHAR
Page 133 and 134: Sl. No. Name of the Shareholder Tot
Page 135 and 136: Equity Shares allotted to a QIB pur
Page 137 and 138: FIIs are permitted to participate t
Page 139 and 140: The submission of an Application Fo
Page 141 and 142: ank). The QIB will be required to d
Page 143 and 144: Placement Agreement PLACEMENT The J
Page 145 and 146: SELLING RESTRICTIONS The distributi
Page 147 and 148: the shares, debentures and units of
Page 149 and 150: TRANSFER RESTRICTIONS Purchasers of
Page 151 and 152: The exceptions to this rule are for
Page 153 and 154:
equirement to publish un-audited fi
Page 155 and 156:
shares are listed). Further, any pe
Page 157 and 158:
agreement, within the time period m
Page 159 and 160:
for compulsory dematerialised tradi
Page 161 and 162:
. by crediting shares of the Compan
Page 163 and 164:
proportion as the capital paid on t
Page 165 and 166:
The information provided below sets
Page 167 and 168:
to be income chargeable under the h
Page 169 and 170:
8. As per Section 74 Short-term cap
Page 171 and 172:
long-term capital gains. Balance lo
Page 173 and 174:
LEGAL PROCEEDINGS Save as described
Page 175 and 176:
lack list GIL and also its allied/s
Page 177 and 178:
Index to financial statements: FINA
Page 179 and 180:
Sr. No. UNAUDITED FINANCIAL RESULTS
Page 181 and 182:
from the foreign currency receivabl
Page 183 and 184:
5. The financial statements of cert
Page 185 and 186:
REFORMATTED CONSOLIDATED BALANCE SH
Page 187 and 188:
GAMMON INDIA LIMITED REFORMATTED CO
Page 189 and 190:
GAMMON INDIA LIMITED REFORMATTED CO
Page 191 and 192:
GAMMON INDIA LIMITED SCHEDULES FORM
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
31.03.09 31.03.08 31.03.07 Rs.inMil
Page 199 and 200:
Page 201 and 202:
SCHEDULE 15A SUNDRY EXPENSES INCLUD
Page 203 and 204:
SCHEDULE 18 SIGNIFICANT ACCOUNTING
Page 205 and 206:
5. Research and Development Expense
Page 207 and 208:
(c) Work in progress from manufactu
Page 209 and 210:
Basic Earning Per Share is calculat
Page 211 and 212:
For the Year 2008- 09 For the Year
Page 213 and 214:
interest and voting rights in respe
Page 215 and 216:
y Busi Group. By an Agreement dated
Page 217 and 218:
Maritime Services Pvt. Ltd* Modern
Page 219 and 220:
the difference between outstanding
Page 221 and 222:
PVAN: Term Loans from ICICI Bank ar
Page 223 and 224:
foreign exchange loss of Rs. 11.20
Page 225 and 226:
In respect of some road projects co
Page 227 and 228:
Net Actuarial (gain)/loss To Be Rec
Page 229 and 230:
Further, during the year 2008-09, t
Page 231 and 232:
30 Gammon Sadelmi (Power Plant in S
Page 233 and 234:
(c) Transactions of Oman Branch and
Page 235 and 236:
11 Gammon Rizzani Gammon Rizzani Ga
Page 237 and 238:
Nature of Transactions / relationsh
Page 239 and 240:
Page 241 and 242:
Page 243 and 244:
Current liabilities Bank overdrafts
Page 245 and 246:
Statement of recognised income and
Page 247 and 248:
5. We have estimated and checked th
Page 249 and 250:
4. As fully described by directors
Page 251 and 252:
Franco Tosi Meccanica S.p.A. INTROD
Page 253 and 254:
Franco Tosi Meccanica S.p.A. 2. INC
Page 255 and 256:
Franco Tosi Meccanica S.p.A. 4. FOR
Page 257 and 258:
Franco Tosi Meccanica S.p.A. The bo
Page 259 and 260:
Franco Tosi Meccanica S.p.A. Revenu
Page 261 and 262:
Franco Tosi Meccanica S.p.A. Servic
Page 263 and 264:
Franco Tosi Meccanica S.p.A. 31.12.
Page 265 and 266:
Franco Tosi Meccanica S.p.A. Note 5
Page 267 and 268:
Page 269 and 270:
Franco Tosi Meccanica S.p.A. Nota 1
Page 271 and 272:
Page 273 and 274:
Franco Tosi Meccanica S.p.A. As pre
Page 275 and 276:
Franco Tosi Meccanica S.p.A. Deprec
Page 277 and 278:
To the Shareholders of Sae Power Li
Page 279 and 280:
SAE POWER LINES S.R.L. Società uni
Page 281 and 282:
SAE POWER LINES S.R.L. IV. Liquid a
Page 283 and 284:
SAE POWER LINES S.R.L. Profit and l
Page 285 and 286:
SAE POWER LINES S.R.L. Company with
Page 287 and 288:
underlying formal aspects. Fixed as
Page 289 and 290:
Italian Exchange Rates Office (U.I.
Page 291 and 292:
Description Value Monetary revaluat
Page 293 and 294:
Accounts receivable by geographical
Page 295 and 296:
This item can be broken down as fol
Page 297 and 298:
Description 31/12/2007 Additions De
Page 299 and 300:
Accounts payable by geographical ar
Page 301 and 302:
Description 31/12/2008 31/12/2007 C
Page 303 and 304:
Taxes Value at 31/12/2008 Value at
Page 305 and 306:
the reasonable certainty that in fu
Page 307:
ISSUER Gammon India Limited REGISTE
show all

GAMMON INDIA LIMITED

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?