Gammon Pakistan Limited

Gammon Pakistan Limited (GAMON) is a public limited company in Pakistan, established in 1947. The company specializes in civil construction works such as bridges and buildings. As of June 30, 2025, GAMON had 28.266 million shares outstanding, with 72.06 percent held by its holding company, Bibojee Services (Private) Limited, and the remaining shares distributed among local general public and other categories of shareholders.

GAMON's financial performance has been largely negative since 2021. In 2021, the company experienced a 59 percent drop in contract income to Rs.75.717 million due to the ongoing COVID-19 pandemic. Despite this, GAMON managed to record a net loss of Rs.23.28 million, with general and administrative expenses increasing by 19.38 percent. Other expenses surged to Rs.17.596 million, offset in part by a 193 percent increase in other income.

The trend continued into 2022, with GAMON witnessing a 67.86 percent decline in contract income to Rs.24.332 million, caused by political and economic uncertainty. The company's net loss decreased slightly to Rs.1.909 million, with payroll expenses rising due to an increase in employees from 20 to 22. However, administrative expenses declined by 34.73 percent due to minimal provisioning for loans and advances.

Other expenses increased by 123.12 percent due to contracts assets written off, while other income grew by 3.11 percent on account of sundry creditors written back.

In 2023, GAMON's contract income shrunk by 72.56 percent to Rs.6.678 million, affected by economic and political instability coupled with heavy floods. Contract expenditure fell by 35.96 percent, leading to a net contract loss of Rs.10.126 million. General and administrative expenses increased by 4.25 percent, while other expenses declined by 91.53 percent due to a high-base effect from previous year's contract asset write-offs.

Operating profit stood at Rs.1.799 million, with the highest operating margin of 26.94 percent during the period.