NTPC – SAIL POWER COMPANY LIMITED
CORPORATE CONTRACTS & MATERIALS, NEW DELHI
EPC Package for Kulti Solar PV Power Project (25MWp)
Bid Document No: CC/C&M/C-496
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.
2.2
Net Worth of the Bidder as on the last day of the preceding financial year should not be
less than 100% (hundred percent) of bidder’s paid-up share capital. In case the Bidder
does not satisfy 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 companies wherever applicable, the Net worth of the Bidder
and its Subsidiary (ies) and/or Holding Company and/or Subsidiary(ies) of its 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.
2.3
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 on
substantiation of its qualification:
a) Copies of the unaudited unconsolidated financial statements of the Bidder along with
copies of the audited consolidated financial statements of its Holding Company.
b) Certificate from the CEO/ CFO of the Holding Company, as per the format enclosed in the
bidding documents, stating that the unaudited unconsolidated financial statements form
part of the consolidated financial statement of the Holding Company.
In case where audited results for the last financial year as on date of techno-commercial
bid opening are not available, the financial results certified by a practicing Chartered
Accountant shall be considered acceptable. In case the Bidder is not able to submit the
Certificate from a practicing Chartered Accountant certifying its financial parameters, the
audited result of three consecutive financial years preceding the last financial year shall
be considered for evaluating financial parameters. Further, a certificate would be required
from the CEO/CFO as per the format enclosed in the bidding documents stating that the
financial results of the company are under audit as on techno commercial bid opening
and the Certificate from a practicing Chartered Accountant certifying the financial
parameters is not available
Notes for Clause 2.0:
i. Net worth means the sum total of the paid up share capital and free reserves. Free
reserves means all reserves credited out of the profits and share premium account but
does not include reserves credited out of the revaluation of the assets, write back of
depreciation provision and amalgamation. Further any debit balance of Profit and Loss
account and miscellaneous expenses to the extent not adjusted or written off, if any, shall
be reduced from reserves and surplus.
ii. Other income shall not be considered for arriving at annual turnover.
iii. “Holding Company” and “Subsidiary” shall have the meaning ascribed to them as per
Companies Act of India.