proposal envisages site fabrication. The aforesaid piping system should be in successful
operation for at least one (1) year prior to the date of Techno commercial Bid opening.
6.2.0 Financial Criteria of Bidder:
6.2.1 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 ₹ 94.0 million
(Indian Rupees Ninety Four million only) or in equivalent foreign currency.
In case the 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, 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.
6.2.2 Net Worth should not be less than 100% (hundred percent) of the Bidder’s paid-up share
capital as on the last day of the preceding financial year. 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
Companies 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
6.2. 3 In case the Bidder is not able to furnish its audited financial statements on stand alone
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 the 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 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, Bidder is not able to submit the