Promoter holding
64.27%
GI
Gammon India Limited - Due diligence report
A 360° intelligence report on Gammon India: trust score, financial health, credit view, compliance, directors, growth and distress signals -…
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Gammon India — 360° Intelligence Report
Generated from MCA filings & public records52/100
Trust Score
Moderate
Gammon India is assessed as Moderate with a Trust Score of 52/100. Gammon India is an active public limited indian non-government company incorporated in 1922, operating in the Infrastructure and Utilities sector. Reported revenue has declined across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and high financial risk profile.
Report generated on 17 Jul 2026 from the latest processed filings. Gammon India Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
52/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
42/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
20/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
45/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
75/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
55/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 45/100 Caution Indicated
- Negative operating earnings - debt service depends on external support.
- Externally credit-rated (D).
Charges position: 20 open (38,516.39 cr) · 14 satisfied (1,440.08 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Idbi Trusteeship Services Limited | 3 | 48.0 cr |
| Canara Bank (Lead Bank - Consortium) | 1 | 48.0 cr |
| Icici Bank Limited | 1 | 48.0 cr |
| Canara Bank | 3 | 48.0 cr |
| United Bank Of India Corporate Finance Branch | 1 | 48.0 cr |
| Others | 3 | 48.0 cr |
Compliance Score: 42/100 Caution Indicated
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Flagged by authority: SEBI, BANKS, NSE.
- Litigation present in 5 court forum(s).
- Delayed payments to MSME suppliers disclosed (88 disclosure(s)).
- 19 active GST registration(s).
Legal cases on record (5)
05
Director Intelligence
Stability score: 75/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| KASHI NATH CHATTERJEE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MAHENDRA UJAMSHI SHAH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ANURAG LAXMAN CHOUDHRY | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| AJIT BALUBHAI DESAI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Lily Bhushan | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Vishwas Madhusudan Joglekar | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Dakshinamurty Vemparla | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Ashok Bhikamchand Bhutada | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Roshni Sanjay Kapshiwal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 9 directors on the board.
- No disqualified or deactivated DINs.
- 4 director exits in 3 years - high churn.
Director & KMP remuneration (FY 2024)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2024 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
6
Group entities
6
Capital events
23 allotment(s) · 0 transfer(s)
Promoters hold a minority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Associated Transrail Structures Limited., Nigeria | Subsidiary Company | 74.00% |
| Atsl Holdings Bv, Netherlands | Subsidiary Company | 74.00% |
| Gammon Holdings (mauritius) Limited | Subsidiary Company | 74.00% |
| Gammon Holdings B.v., Netherlands | Subsidiary Company | 74.00% |
| Gammon International B.v., Netherlands | Subsidiary Company | 74.00% |
| Gammon Italy Srl | Subsidiary Company | 74.00% |
| Gammon Power Limited | Subsidiary Company | 74.00% |
| Gammon Real Estate & Developers Private Limited | Subsidiary Company | 74.00% |
| Gammon Retail Infrastructure Private Limited | Subsidiary Company | 74.00% |
| Gammon Transmission Limited | Subsidiary Company | 74.00% |
Key managerial personnel: ANURAG LAXMAN CHOUDHRY (CFO) · AJIT BALUBHAI DESAI (CEO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 50 · Distress 55
Growth signals & trust indicators
Latest year revenue grew 38%.
Operating for 104+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Losses deepening year-on-year.
Negative net worth.
Compliance score is weak (42/100).
20 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 67.97 Lakh.
5 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence49/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 2 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment37/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 20 open charge(s) of 38,516.39 cr already registered.
- Compliance gaps should be priced into terms.
Investor view40/100
Limited indicators at present
Growth quality and scalability through an investor lens.
- 1 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events30 Dec 2025
Director appointed
Roshni Sanjay Kapshiwal (Company Secretary)
05 Dec 2025
Last AGM held
Annual general meeting
21 Nov 2025
Director appointed
Ashok Bhikamchand Bhutada (Additional Director)
24 Oct 2025
Director appointed
Dakshinamurty Vemparla (Additional Director)
02 Aug 2025
Director appointed
Vishwas Madhusudan Joglekar (Additional Director)
18 Apr 2025
Director ceased
RAMCHANDRA BALKRISHNA BHATKAR
31 Mar 2025
Latest balance sheet
Filed with ROC
25 Mar 2025
Director appointed
Lily Bhushan (Additional Director)
31 May 2024
Director ceased
NIRAV KISHOR SHAH
27 Mar 2024
Director ceased
MAHENDRA UJAMSHI SHAH
27 Dec 2023
Director appointed
MAHENDRA UJAMSHI SHAH (Director)
12 Dec 2023
Director ceased
NIKI AVINASH SHINGADE
17 Aug 2022
Director ceased
ANURAG LAXMAN CHOUDHRY
14 Oct 2021
Director ceased
SANDEEP RASIKLAL SHETH
30 Sep 2021
Director ceased
KASHI NATH CHATTERJEE
10
Key Observations
Auto-generated from the data aboveRevenue declined 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
9 active director(s) / partner(s); board looks stable and experienced.
19 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 6 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of D from Care.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a minority stake as per the FY 2024 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 23 security allotment(s) - amounts available in the full report.
38 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Ss Chauhans Construction Private Limited | U45201HP2016PTC006224 | Hamirpur, Himachal Pradesh, India |
| Gf Toll Road Private Limited | U74990MH2008PTC189112 | Mumbai, Maharashtra, India |
| Pioneer Fabricators Limited | U74899DL1988PLC032185 | Delhi, Delhi, India |
| Ashokaranastalam | U45500DL2017PLC315722 | New Delhi, Delhi, India |
| Sushee Arunachal Highways Limited | U45209TG2011PLC076753 | Khairatabad, Telangana, India |
| Ds Toll Road Limited | U23300MH2005PLC154360 | Mumbai, Maharashtra, India |
| Equus Signalling Systems Private Limited | U74900WB2019PTC233158 | Kolkata, West Bengal, India |
| Gr Dwarka Devariya Highway Private Limited | U45201RJ2019PTC064358 | Udaipur, Rajasthan, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Gammon India before audits and certifications: compliance score 42/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Gammon India: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Enhanced diligence advised. Credit risk score 45/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Limited indicators at present. Growth score 50/100, margin trends, ownership structure and peer set for Gammon India - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 52/100, distress signals and MSME payment-delay disclosures - know whether Gammon India pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (5 case(s) on record), regulatory flags, charge documents trail and director networks for Gammon India - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Gammon India an active company?
Gammon India has MCA status “Active” with a compliance score of 42/100 (Caution Indicated).
Is Gammon India financially healthy?
Gammon India has a Financial Health Score of 20/100 (Caution Indicated) based on its filed financial statements.
Should I do business with Gammon India?
Its overall Trust Score is 52/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Gammon India?
Promoters hold a minority stake - exact percentages are in the full report. 9 active director(s) are on record.
Does Gammon India have loans or charges against its assets?
20 open charge(s) are registered against its assets, and 14 earlier charge(s) stand satisfied.
Is Gammon India up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 42/100 (Caution Indicated).
Is it risky to lend to Gammon India?
Its Credit Risk Score is 45/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
