Gammon Pakistan : Transmission of Quarterly Report for the Period Ended 2022-03-31

COMPANY INFORMATION

Chairman

Lt Gen (Retd) Ali Kuli Khan Khattak

Board of Directors

Mr. Khalid Kuli Khan Khattak Mrs. Ayesha Alamzeb Durrani

Mr. Muhammad Kuli Khan Khattak Mr. Sikandar Kuli Khan Khattak Mr. Kamal Abdullah Malik

Mr. Fazal-ur-Rehman Khan Burki

Chief Executive Officer

Mr. Khalid Kuli Khan Khattak

Audit Committee

Mr. Kamal Abdullah Malik

Mr. Muhammad Kuli Khan Khattak Mr. Sikandar Kuli Khan Khattak

HR Committee

Mr. Fazal-ur-Rehman Khan Burki Mrs. Ayesha Alamzeb Durrani Mr. Sikandar Kuli Khan KhattakCompany Secretary Mr. Amin ur Rasheed

Chief Financial Officer

Mr. Ghulam Murtaza Khurshid

Internal Auditor

Mr. Salman Khan ACAExternal Auditor M/S Rizwan & Co. Chartered Accountants Islamabad

Legal Advisor

Chanda Law Associates Rawalpindi

Stock Exchange

The Gammon Pakistan Limited is a listed Company and

It's shares are traded on Pakistan Stock Exchange Limited

Gammon Pakistan Limited

ChairmanDirector Director Director Director Independent Director Independent Director

Bankers

Silk Bank Limited Askari Bank Limited National Bank of Pakistan Bank of Punjab

Habib Bank Limited Allied Bank LimitedRegistered Office Gammon House 400/2, Peshawar Road Rawalpindi

Tel: [phone] Fax: [phone]

Chairman Member Member

E-mail:[e-mail]

Share Registrar

Vision Consulting Limited 3-C, LDA Flats, 1st Floor Lawrence Road, Lahore Tel: [phone] Email:[e-mail] Web:www.vcl.com.pkAdvocates

www.gammonpakistan.com

DIRECTOR'S REPORT

The directors of your Company have pleasure in presenting their report, together with Un-Audited Financial Statements for the nine months ended March 31, 2022.

PERFORMANCE REVIEW

The principal activity of the Company is all types of Construction specially Bridges and Buildings. The highlights of the Company's financial results as compared to the preceding year are as follows:

Particulars	July to March.,	July to March.,
2022	2021
(Rupees)	(Rupees)
Contract Income	19,797,572	67,501,956
Contract Expenditure	(21,860,777)	(63,003,018)
Net Contract (Loss)/Profit	(2,063,205)	4,498,938
(Loss)/Profit before taxation	(1,435,784)	2,659,150
Taxation	(4,422,933)	(320,161)
Net (Loss)/Profit	(5,858,717)	2,338,989

The revenue from the contracts has sharply reduced after handing over of MTC and Torkham Projects. We are striving hard to acquire some new projects but arranging the bonding facilities and running finance is the main difficulty in the way. Nonetheless, all our efforts are still being made to acquire new Projects as we continue to participate in the bidding process of feasible Projects. Gammon Pakistan Limited is also striving hard to acquire Projects through joint ventures with financially strong parties and hopefully we may have success in the near future.

The Project of Maritime Technologies Complex Project at Fateh Jang near Islamabad is Completed and Handed Over, we are in process of final bill with the client.

The Project of Old Bannu Road Structure Bridges is progressing well and we are very much hopeful that it may be completed before the end of this financial year.

The Project of FBR Facility Center at Torkham has also been Left and Handed Over to NLC, due to certain mis-commitments from client side, final settlement in this regard is in process.

FUTURE PROSPECTS

New Management of the Company is very much hopeful that despite financial constraints and cash flow problems we will succeed to uplift the company by resolving long outstanding matters. We are tendering for some Mega Projects as well, since Government policy for the Construction industry is supportive. It is expected that some new works will be awarded to your company in the near future.

ACKNOWLEDGMENT

We appreciate the hard work and dedication of the Company's Management, Engineers and Employees during the period under review.

We would also like to express our gratitude to our bankers, clients and suppliers for their cooperation, support and trust reposed in the Company.

For and on behalf of Board of Directors

Khalid Kuli Khan Khattak

Chief Executive Officer

3