Gammon India

Saajan Jain MMS B 151

Notes
1. Share Capital - As on 31st March 2012 the amount of share capital for the company stands at 27.50 cr. It includes authorized, issued, Subscribed and fully paid - up Capital. The Company has only one class of equity shares having a par value of Rs 2 each. Each holder of equity share is entitled to one vote per share. The distribution will be in proportion to the number of equity shares held by the shareholders. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders. 2. Reserves & Surplus Reserves & Surplus as on 31st March 2012 stands at Rs 2146 cr. It includes Capital Reserve, Capital Redemption Reserve, Securities Premium Account, Debenture Redemption Reserves, Revaluation Reserves, Share Options Outstanding Account & Special Contingency Reserve. The Special Contingency Reserve has been created by the Company to meet any possible contractual losses / liabilities / claims following the principles of conservatism and prudence. 3. Long Term Borrowings - Long Term Borrowings have been taken by issuing Non Convertible Debentures Placed with Banks and Financial Institutions, Term loans from Banks & Financial Institutions & loans from Minority Shareholders as well. It also includes Convertible bonds issued by Joint Venture Company. 4. Deferred Tax Liability Deferred Tax Liability stands at Rs 193 cr. It includes Depreciation, Foreign Exchange Translation Reserve, On Account of Lease & others. 5. Provisions - Company has kept both long term & short provisions for Employee Benefits like Provision for Gratuity, Provision for Leave Benefits, Provision for Cash Compensation others. Long term provisions stands at 271 cr & Short Term Provisions at 275 cr. 6. Trade Payables - As per the intimation available with the Company, there are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act, 2006, to whom the Company owes dues on account of principal amount together with interest and accordingly no additional disclosures have been made. 7. Fixed Assets & Investments - Fixed Assets & Investments stand at 6584 cr year ending 31st March 2012. Assets include Tangible assets, Intangible assets , Capital Work in Progress & intangible assets under development. Investments include oil exploration assets, mutual funds, government securities & investment in own shares through GIL Trust. 8. Loans and Advances (Unsecured, Considered Good unless otherwise stated) - Non-current loans & advances stand at 710 cr & current loans & advances stand at 779 cr for the year ended 31st March 2012. It includes loans & advances, Advances recoverable in cash or kind, Other Loans & Advances & Deposits with Joint Stock Companies.

9. Inventories - As on 31st march 2012 inventories stand at 2212 cr. It includes Raw Material, Material at Construction Site, Stores and Spares, Work In Progress & Finished Goods. Raw materials are valued at cost, net of Excise duty and Value Added Tax, wherever applicable. Stores and spares, loose tools are valued at cost except unserviceable and obsolete items that are valued at estimated realizable value thereof. Costs are determined on weighted average method; Work-in-Progress on construction contracts reflects value of material inputs and expenses incurred on contracts including estimated profits in evaluated jobs. Work in progress from manufacturing operation is valued at cost and Costs are determined on weighted average method. Finished Goods are valued at cost or net realizable value, whichever is lower. Costs are determined on weighted average method. 10. Trade receivables It includes all the Unsecured, considered goods unless otherwise stated Trade Receivables, Other Debts, Doubtful Debts & Provision for doubtful debts. Non Current Trade receivables stand at 713 cr & current Trade receivables stand at 2,204 cr. 11. Cash and Bank Balances As on 31st March 2012 total cash & bank balances stand at 747 cr. These balances include Cash Balances, Funds in Transit, Bank Balances, Unpaid Dividend & other bank balances. Other Bank balances include 6.15 Cr (Previous Year 3.15 Cr) with bank branches in foreign countries relating to certain foreign projects which are not readily available for use by the Company and are subject to exchange control regulation of the respective countries. 12. Other Income - As year ended 31st March 2012 other income stands at 181 cr. It is valued by calculating Interest Income, Miscellaneous Income, Profit on sale of Assets, Profit on sale of Investments, Dividend Received from Current Investments, Insurance Claim Received & Profit on sale of Extinguishment of debentures.