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Gammon India Ltd. Company History and Annual Growth Details

1922 - The company was incorporated and then converted into a public
Ltd. company on 31st April 1962. The main object of the company
was Builders and contractors, reinformed concrete specialists,
engineers, architects, surveyors estimators and designers. Also
manufacturers of sulphuric acid and superphosphate.

- 13,200 shares issued without payment in cash. (Of which 8,000
shares were issued to vendors).

1932 - Capital reduced by reducing the nominal value of the share from
Rs. 100 to Rs. 40 as per Capital Reduction Scheme approved by
High Court on 4.12.1931.

1953 - 10,000 Bonus shares issued in the proportion 2:3.

1956 - At the time of incorporation, the name of the Company was
J.C. Gammon (Mumbai) Ltd. The name was changed to Gammon India

- 12,500 bonus shares issued in the proportion 1:2.

1962 - 2,50,000 Bonus share issued in proportion 5:6.

1963 - In May, 6,00,000 shares offered (prem. Rs.7 per share). 1,97,500
shares reserved for directors etc. and the staff of the company.
4,02,500 shares offered to the public.

1964 - 2,30,000 Right shares offered (prem. Rs. 1.50 per share; prop.

1967 - In October, 1,65,600 Bonus Equity shares issued in the proportion

1975 - On 23rd August, Gammon Nirma Ltd., was incorporated as a
subsidiary of the company. 10,200 equity shares of Rs. 100 each
out of 10,204 shares issued are held by Gammon India Ltd.

- Gammon Turnkeys Ltd., is a subsidiary of the Company with a
holding of 9,990 No. of equity shares of Rs. 100 each out of
10,000 No. of equity shares issued.

- Bhagirathi Bridge Construction Co. Ltd., is an associated company
of Gammon India Ltd., while Gammon-Shah is a partnership firm
with 50% share for Gammon India Ltd.

1977 - The company is associated with Gammon Eastern Union Ltd., Hong
Kong, who promoted Gammon Midest Ltd. joint venture company in
Sharjah, United Arab Emirates with a participation of Dh.
7,85,000 representing 50% of the capital of the joint venture
entered with Dh. 27,15,000 (Dh. 1 = Rs.2.2 approximately) as term
loan for three years.

- This joint venture company was incorporated in April, and was to
undertake construction and service contracts in the Middle East
and elsewhere.

1979 - The Company entered into a collaboration agreement with
Koninklijke Machinenfabrick Stork B.V. Hengelo, Netherlands for
a period of 5 years for the manufacture of fibreglass impeller
blades for cooling towers.

- Another agreement was entered into with Societe Hamon Sobelco
S.A. Belgium which provides for consultancy services in advanced
computer analysis for the natural drought cooling towers which
the Company undertook to construct for the Narora Atomic Power

- Machinen Fabrick Stork were the collaborators for the manufacture
of fibre-reinforced plastic blended impellers. In order to keep
abreast of the improvements abroad, the Company applied for
extension of the collaboration agreement including the know-how
for new generation ENF impeller series with the collaborators.
Approval from the Government was received and the agreement was
extended for a further period of 3 years.

1980 - The capital of Gammon Midest Ltd., increased from Dh. 15.70 lakhs
to Dh. 50 lakhs and the company's contribution thereby increased
from Dh. 7.85 lakhs to Dh. 25 lakhs.

- This increase of Dh. 17.15 lakhs in the capital comprised 357
bonus equity share of Dh. 10,000 each and 1,358 right equity
shares of Dh. 1,000 each. The 1,358 right shares were subscribed
for through a loan advance by a non-Indian Director to be repaid
by the company from further profits as approved by the
Government of India.

1982 - 6,18,240 Bonus Equity shares issued in proportion 2:5 in March.

1985 - Gammon Midest Ltd., ceased operations since the year due to Gulf
war. The company went into liquidation on 27th June, 1988 by
order of Sharjah Civil Court, Sharjah.

1986 - The performance and the future outlook of Gammon Fer-Chems,
division the company proposed to dispose of the division by sale
or lease, subject to necessary approvals being obtained.

1987 - Production of sulphuric acid and super phosphate was restricted
to four months.

1988 - Approval of the shareholders was received on 29th January, for
closure of Gammon Fer-Chems Unit. The unit was subsequently
closed down.

- A new joint venture company, Heitkamp Gammon Ltd., was being
established with Gammon India Ltd., and Heitkamp Rohrbau GmbH,
West Germany as the principal promoter shareholder. The proposed
company would have an authorised capital of Rs. 25 lakhs.

- Gammon India proposed to invest in the share capital of the joint
venture company upto 49.5% of the subscribed capital, the total
nominal value of the shares subscribed by the Company not
exceeding Rs. 12,37,500 at any time.

- The new company, Heitkamp Gammon Ltd., would undertake contracts
of repairing and protecting water lines, sewerage lines and
similar public works by exploiting the sprayed cement mortar
lining technique.

- The Company in association with Hanon Sabelco (U.K.), Ltd.,
proposed to set up a joint venture Company for the manufacture
of cooling tower infill products, with an authorised capital of
Rs. 50,00,000 and a paid up capital of Rs. 25,00,000. Hanon
proposed to subscribe 39.5% of the capital while the Company and
others proposed to subscribe to 49.5% and 11% respectively in
the joint venture.

1989 - The R&D Division undertook development of energy efficient GFRP
bladed fans for ID Cooling towers and PP splash grid modular
packing system for ND/ID covering towers, alternative packing
systems etc.

- Also, development and manufacture of places booms for concreting,
mobile shuttering systems complete with hydraulic arrangement.
For jacking and lowering upto a height of 2.5 mm, Integrated
sereed vibration systems for deck concreting, sprial tube making
machine upto 200 mm dia. for prestressing cables etc. were

1990 - A turnkey contract of the approximate value of Rs. 120.00 crores
secured from International Youth Travel Bureau of USSR and
'SPUTNIK', Moscow, USSR for the contruction of a 900 bed hotel
in Moscow. Contracts valued at Rs. 100 crores were under

1992 - The contract for construction of 900 bed hotel in Moscow was
foreclosed, with the concurrence of the working group Committee
of the Exim Bank in terms of the agreement entered into between
the Company and Sputnik on 23rd February, 1993. Due to the
fragmentation of the erstwhile USSR and further due to the
abrogation of the Soviet Indian, Business Treaty.

1994 - The company was awarded a time bound large size Civil
Engineering contract for construction of three bridges with
approach road replacing flood damaged bridge of Prithvi Highway
towards Noubise and Malekhu section of sakkar, Nepal.

- The contract is funded by the world bank and 70% of the payment
is in US Dollars.

- R & D division developed, fabricated and put into commission the
headmast and tail-mast for 700 m span cable ropeway for Alamatti
Dam as also 1500 mm dia. double-wall casing for executing the
pile foundations for transmission towers at Tezpur for 60 m deep

1995 - The Company made a rights issue of 6,24,000 No. of Equity shares
of Rs. 10 each for cash at par which was unsubscribed to the
extent of 5,02,898 equity shares of Rs. 10 each.

- The Freyssinet Pre-stressed Concrete Co. Ltd., is a subsidiary of
the Company. 1,01,744 shares of Rs. 10 each out of 1,04,000
shares issued by this subsidiary are held by the company.

- Gilcon Project Services Ltd., with a paid up capital of Rs.25,000
is a wholly owned subsidiary of the company.

- The R & D division designed and manufactured a special reverse
circulation pilling rig for 1500 mm diameter piles capable for
depths upto 75 m.

- The R&D division also developed special techniques for
installation of 1500 mm diameter piles through the reinforced
concrete well steining for a Bridge across Brahmaputra river at

1996 - Based on applied R & D, the company has further improved the
tapered slipform system. The R & D of the Company has also
designed a mini batching plant of capacities in the range of 3 to
5 cu. m. per hour.

1998 - 43,27,680 rights shares allotted at Rs 10 per share (prem. Rs 30 per share)
prop., 2:1 of which 95,680 No. of equity shares kept in abeyance.

2000 - The Company has proposed sub-division of the company's shares from
Rs 10 per share to Rs 1 per share.

- The issued share capital of the company is 64,91,520 No. of equity shares of
Rs 10 each. The Company has decided to issue equity shares of Re 1 each
at a premium of Rs 2 per share on rights basis in the ratio of 1:1.


-Mr Ashok Kumar, Director expires.

-Replaces Sandvik Asia in BSE-500 Index.

-Sells part of its stake in Cochin Bridge Infrastructure Company Ltd, its subsidiary by reducing its stake from 97.66% to 51%.

-Nouveaw Exports Pvt Ltd ceases to be the subsidiary of the company.

-Appoints Mr Rajul A Bhansali as the Executive Director on the Board of the company.

-Reduces stake in both its subsidiaries M/s Gammon Nirman Ltd and M/s Gammon Turnkeys from 100% to 51%.


-Gammon India Ltd. has informed about the demise of the Company's Director Mr. S Chakrabarti on January 28, 2004.

-Gammon India wins order worth Rs 200 cr

-Road Corridor Project of Rs 800 million consisting of Railway over Bridges (ROBs) linking Santacruz and Chembur, under Mumbai Urban Transport Project (MUTP), has been awarded to the company by MSRDC.


-Sikkim govt signs MoU with Gammon India, Jalpahara Power Corp


-Gammon India signs up with Wyndham for Hotel business.


-Gammon India Ltd has appointed Mr. Jagdish C Sheth and Mrs. Urvashi Saxena as Additional Directors of the Company.

-Gammon India Ltd has informed BSE that Mr. Himanshu V Parikh, Whole-time Director whose term of office expired on April 30, 2008, has been re-appointed as Whole-time Director of the Company for a further period of 5 (Five) years effective from May 01, 2008.


- Gammon India Ltd has informed that the Board of Directors of the Company at its meeting held on July 09, 2009, has appointed the following Directors:
1. Mr. Atul Kumar Shukla has been appointed as an Additional Director (Non-Executive, Independent) of the Company w.e.f. July 09, 2009, subject to approval by Shareholders.
2. Mr. D C Bagde has been appointed as an Additional Director (Executive, Non-Independent) of the Company w.e.f. July 09, 2009, subject to approval by Shareholders.

- Gammon India Ltd's Wholly Owned Subsidiary, SAE Powerlines S.r.l., Italy, has been awarded a power transmission project aggregating to USD 31 Million in Tanzania.


- Gammon India Ltd has been awarded a contract by ISKCON (International Society for Krishna Conciousness), aggregating to Rs. 137.28 crores for Construction of 'Sri Chaitanya Chandrodaya Mandir and Indian Educational & Cultural Centre' at Sri Mayapur, Dist: Nadia, West Bengal.
Oct 26, 11:45 am
Oct 26, 11:54 am
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