
8.2 Financial Criteria
8.2 (a) 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 Rs.1061.89 Lakhs (Indian
Rupees One Thousand Sixty One Lakhs & Eighty Nine Thousand only).
In case a Bidder does not satisfy the 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 Techno Commercial bid
documents, pledging unconditional and irrevocable financial support for the execution of the
Contract by the Bidder in case of award. For Joint Ventures/Consortiums, all the partners of
the Joint Venture/Consortium shall be collectively required to meet the turnover criteria.
8.2 (b) The Net Worth of the Bidder as on the last day of the preceding financial year, of the date of
Techno-commercial Bid opening, shall not be less than 100% of the bidders paid up share
capital. In case the Bidder meets the requirement of Net Worth based on the strength of its
Subsidiary (ies) and/or Holding Company and/or Subsidiary (ies) of the Holding company
wherever applicable, 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% of their total paid up share capital. However individually, their Net Worth
should not be less than 75% of their respective paid up share capitals. For Consortiums/Joint
Ventures, wherever applicable, the Net Worth of all Consortium/Joint Venture members in
combined manner should not be less than 100% of their paid up share capital. However
individually, their Net Worth should not be less than 75% 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.
8.2 (c) 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) 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 statements of the Holding Company.