Gammon India Ltd

Gammon India Ltd Technicals

Gammon India Ltd Financials

Gammon India Ltd Shareholding Pattern

About Gammon India Ltd

Gammon India Ltd is one of the largest civil engineering construction companies in India. The company is a leader in construction and turnkey engineering projects with expertise in roads, flyovers and bridges. They also made concrete contributions by designing and constructing ports, harbours, thermal and nuclear power stations, dams, high-rise structures, chemical and fertiliser complexes etc. Gammon India was incorporated in the year 1922 as a private limited company. The first work carried out by the company was the construction of reinforced concrete pile foundations for Gateway of India. Since then, the company has executed many multifarious civil engineering works of bridges/flyovers, marine structures, cooling towers, chimneys, tunnels and dams in India and in the Middle East. The company went to public in the year 1962. During the year 1994-95, the company made a tie up with US based General Electric and Epon, Netherlands, for undertaking power generation projects in the country by floating a new company Gammon Power. During the year 1998-99, the company secured projects for the construction of flyovers in Mumbai, Delhi and Chennai. During the year 1999-2000, Cochin Bridge Infrastructure Company Ltd, a public limited company formed for the purpose of undertaking a Build-Own-Transfer project became a subsidiary of the company by virtue of the company holding a majority equity stake in that company. In September 2000, the company got the certification of ISO 90 ...01-1994 and became the first multifunctional Civil Engineering company to get certified for ISO 9001 for their entire spectrum of EPC activities. The existing subsidiary companies, namely Gammon Nirman Ltd and Gammon Turnkeys Ltd became the wholly owned subsidiaries of the company with effect from October 25, 2000. Also, they increased the equity stake in Cochin Bridge Infrastructure Company Ltd, which is also a subsidiary company. The company formed two new 100% subsidiary companies, Gammon Infrastructure Projects and Investments Ltd and Vizag Seaport Ltd. These two incorporated on April 23, 2001 and April 24, 2001 respectively. Gilcon Project Services Ltd and Freyssinet Prestressed Concrete Company Ltd ceased to be a subsidiary of the company during the year 2000-01. During the year 2001-02, the company signed a joint venture agreement with Punj Lloyd Ltd, New Delhi and formed two public limited companies, namely Rajahmundry Expressway Ltd (REL) and Andhra Expressway Ltd (AEL) for the execution of two mega projects, Rajahmundry - Dharmavaram Road Project and Dharmavaram-Tuni Road Project. During the year 2002-03, the company secured the Jammu & Kashmir Hydroelectric project of Rs 197 crore. Also, they secured Delhi Metro Rail Corporation elevated structure project for Rs 148.36 crore and KUIDFC water supply project in Karnataka Rs 25 crore. During the year, the company divested their entire shareholding in Nouveaw Exports Pvt. Ltd. Also, they divested part of their shareholding in Cochin Bridge Infrastructure Company Ltd and reduced their stake to 51%. During the year 2003-04, Gammon & Billimoria Ltd became a subsidiary of the company. Also, Gammon Nirman Ltd and Gammon Turnkeys Ltd ceased to be subsidiaries during the year. During the year, the company bagged the projects, namely Santacruz- Chembur Link Road, Amravati Flypver, Jalandhar ROB, Balason Bridge and Nazafgarh Bridge. In the year 2004, Vizag Seaport Ltd entered into a 'Take or Pay' agreement for 3 million tons per annum with a leading steel manufacturer. They secured Rs 640 crore Water Transmission System Project in Oman being executed in joint venture with a local partner. During the year, they completed Mora - Sajod Pipeline project and construction of export pipeline for Hazira LNG Private Ltd. During the year, the company bagged Anji Khad Bridge project of worth Rs 208 crore, which is one of the longest arch bridges in India. They also secured contracts for construction of two bridges, one on Mahanadi of worth Rs 65 crore and the other in West Bengal of worth Rs 36 crore for Railways. The company is the lowest bidder in respect of a bridge & flyover project of NHAI of worth Rs 156 crore, a flyover project in Hyderabad of worth Rs 34 crore and a bridge project in Himachal Pradesh of worth Rs 25 crore. They also secured Water Supply project at Guwahati of worth Rs 10 crore. Rajahmundry Expressway Ltd and Andhra Expressway Ltd became the subsidiaries of the company with effect from February 7, 2005 and Vizag Seaport Pvt Ltd ceased to be a subsidiary with effect from March 17, 2005. During the year 2005-06, the company secured Rs324 crore contract to construct Underground Power House for National Hydroelectric Power Corporation at their Parbati Project - Stage II Lot 3. Also, they secured contracts cumulatively valued at Rs 945 crore in Road Sector. Oil & Gas Pipeline Division of the company secured Rs 200 crore contract from Gas Authority of India Ltd for their Dahej Uran Pipe Line Project. During the year, the company incorporated two Special Purpose Vehicle Companies, namely Mumbai Nasik Expressway Ltd and Sikkim Hydro Power Ventures Ltd, which became subsidiaries of the company with effect from August 6, 2005 and September 22, 2005 respectively. Also, Gammon Projects Developers Ltd and Gammon Cooling Towers Ltd became the subsidiaries with effect from March 22, 2006 and March 31, 2006 respectively. During the year 2006-07, the company incorporated four subsidiaries, namely Gorakhpur Infrastructure Company Ltd, Kosi Bridge Infrastructure Company Ltd, Gammon Realty Ltd and Marine Projects Services Ltd. The company entered into joint venture with a US based company for hydrocarbon exploration in India and Overseas. Also, they incorporated Gammon International LLC, Oman in joint venture with Oman Holdings International Company S.A.O.G. for undertaking and executing constructions contracts in the Sultanate of Oman. During the year, the company completed the civil works for a value of Rs 420 crore for NPCIL - Kaiga Power Plant - Units 3 & 4. The company completed a job of Major River Bridge over river Bidyadhary at Chaital Ghat, West Bengal worth Rs. 28.81 crore. They also completed the job of constructing longest balance cantilever bridge over river Balason for Darjeeling Gorkha Hill Council worth Rs. 22.70 crore. The company secured Projects worth Rs 1100 crore for Bridges and Flyovers during the year. During the year 2007-08, the company completed the Water and Power Project at Sohar-Water Transmission System Project for Ministry of Housing Electricity and Water, Sultanate of Oman. The 13.8 km long tunnel with 9.5 m diameter horseshoe shaped tunnel was completed in November 2007. Also, they completed the Karbi Langpi Dam in the state of Assam for Assam State Electricity Board. The Company set up two special purpose vehicle companies in Netherlands namely, P Van Eerd Beheersmaatschappij B V and Gammon Holdings B V as overseas step-down subsidiaries for the acquisition of Sadelmi S.p.A, and Franco Tosi Mecannica S.p.A. Also, they set up a company in Nigeria and another wholly owned subsidiary company Gammon International FZE in the Hamriyah Free Zone at Sharjah, UAE. The company also incorporated Tidong Hydro Power Ltd, Gammon Logistics Ltd and Haryana Biomass Power Ltd during the year. The company is undertaking Private Partnership Projects through their subsidiary Gammon Infrastructure Projects Ltd. The company is executing package-3 of Parbati Hydroelectric Project, Stage II, which is valued at Rs 603.50 crore. Also, The work at Parbati Stg. III for installed capacity of 540 mw was started during the year 2006-07 and is progressing well. Hydro Project of NTPC at Koldam is in advanced stages of completion and likely to be completed during the financial year 2008-09. The Company has bagged the project for construction of Diaphragm Wall on Sabarmati River from Sabarmati River Front Development Corporation Limited, Ahmedabad worth Rs. 94.63 crores. The project is likely to be completed during the year 2008-09. The company is doing the major part of the work for the first fast breeder Reactor Unit of India at Kalpakkam, which is under development. In September 2008, the company through their offshore step down subsidiary acquired 50% shares of Sofinter SpA, which is the holding company of Ansaldo Caldaie SpA, Italy, and engaged in the manufacture of super critical boilers.