The average annual turnover of the Bidder, in the preceding three (3) financial years as on
the date of Techno-Commercial bid opening, should not be less than INR 11.53 Crore
(Indian Rupees Eleven Crore and Fifty Three Lacs only).
In case a Bidder does not satisfy the average annual turnover criteria, stipulated above
on its own, its Holding Company would be required to meet the stipulated turnover
requirements as above, provided that the Net Worth of such Holding Company as on the
last day of the preceding financial year is at least equal to or more than the paid-up
share capital of the Holding Company. In such an event, the Bidder would be required to
furnish along with its Techno-Commercial bid, a Letter of Undertaking from the Holding
Company, supported by the Holding Company’s Board Resolution, as per the format
enclosed in the bid documents, pledging unconditional and irrevocable financial support
for the execution of the Contract by the Bidder in case of award.
b) Net worth of the bidder should not be less than 100% (hundred percent) of its paid up
share capital as on the last day of the preceding financial year on the date of Techno-
commercial bid opening. In case the Bidder does not meet the Net worth criteria on its
own, it can meet the requirement of Net worth based on the strength of its Subsidiary
(ies) and/or Holding Company and/or Subsidiaries of its Holding company wherever
applicable. In such a case, however the Net worth of the Bidder and its Subsidiary(ies)
and/or Holding Company and/or Subsidiary(ies) of the Holding Company, in combined
manner should not be less than 100% (hundred percent) of their total paid up share
capital. However individually, their Net worth should not be less than 75% (seventy five
percent) of their respective paid up share capitals.
Net worth in combined manner shall be calculated as follows:
Net worth (combined) = (X1+X2+X3) / (Y1+Y2+Y3) X 100
Where X1, X2, X3 are individual Net worth which should not be less than 75% of the
respective paid up share capitals and Y1,Y2,Y3 are individual paid up share capitals.
c) In case the Bidder is not able to furnish its audited financial statements on standalone
entity basis, the unaudited unconsolidated financial statements of the Bidder can be
considered acceptable provided the Bidder further furnishes the following documents for
substantiation of its qualification:
(i) Copies of the unaudited unconsolidated financial statements of the Bidder along with
copies of the audited consolidated financial statements of its Holding Company.
(ii) A Certificate from the CEO/CFO of the Holding Company, as per the format enclosed
with the bidding documents, stating that the unaudited unconsolidated financial
statements form part of the consolidated financial statements of the Holding Company.
In cases where audited results for the last financial year as on the date of Techno Commercial
bid opening are not available, the financial results certified by a practicing Chartered
Accountant shall be considered acceptable. In case, Bidder is not able to submit the
Certificate from a practicing Chartered Accountant certifying its financial parameters, the
audited results of three consecutive financial years preceding the last financial year shall be
considered for evaluating the financial parameters. Further, a Certificate would be required
from the CEO/CFO as per the format enclosed in the bidding documents stating that the