GAMMON INDIA LIMITED

Accounts
receivable by
geographical area
From
controlled
31/12/2007
From affiliated
undertakings
From
controlling
undertakings
Other
accounts
receivable
31/12/2008
Ghana 12.851 12.851
TOTAL 4.453.759 4.453.759
C) Current assets
I. Inventory
Total
Balance at 31/12/2008 Balance at 31/12/2007 Difference
5.051.859 3.128.561 1.923.298
Accounting policies have been applied consistently as explained in the introduction to these notes.
As regards the changes corresponding to the single categories, refer to the data shown in the profit and loss account.
The item “Advances” contains the advances contractually recognized to the suppliers for supplies of goods and/or
services; this item includes the advances with or without function of advance for the different jobs in progress.
II. Accounts receivable
Value at 31/12/2008 Value at 31/12/2007 Changes
16.110.018 9.679.628 6.430.390
The balance can be broken down by due date as follows (article 2427(1)(6) of the Civil Code).
Description Due within one Due after more than one Due after more than five Total
year
year
years
From customers
From controlled
undertakings
From affiliated
undertakings
From controlling
companies
11.433.555 828.365 12.261.920
Tax credits 315.892 315.892
Deferred tax assets 452.926 2.714.008 3.166.934
Other accounts receivable
Rounding off
365.272 365.272
Total accounts receivable 12.567.645 3.542.373 16.110.018
Tax credits at 31/12/2008 break down as follows:
Descrizione Importo
Receivables from the Treasury for VAT 287.007
Withholding tax 19.896
Treasury – reimbursement of VAT on autos 8.989
TOTAL 315.892
F
116