MW or above, for a minimum period of 2 years, in last 7 years as on the date of techno-commercial bid opening.
7.1.2 The bidder should be A Class Electrical Contractor or A Class Electrical Licence holder.
7.2.0 Financial Criteria:
7.2.1 The average annual turnover of the Bidder, in the preceding (3) financial years as on the date of Techno-Commercial Bid
Opening shall not be less than # 688 Lakhs. (Six Hundred Eighty Eight Lakhs Only)
7.2.2 Net Worth of the bidder should not be less than 100% of the bidder's 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 meets the requirement of Net worth based on the
strength of its Subsidiary (ies) and/or Holding Company and/or Subsidiary (ies) 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 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.
7.2.3 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 financial results of the Company are
under audit as on the date of Techno-Commercial bid opening and the certificate from the practicing Chartered Accountant certifying
the financial parameters is not available.
7.2.4 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 its Holding Company.
(ii) A certificate from the CEO/CFO of the Holding Company, as per the format enclosed in the bid documents, stating that the
unaudited unconsolidated financial statements form part of the Consolidated Annual Financial Statements of the Holding Company.
7.2.5 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 bid documents, pledging
unconditional and irrevocable financial support for the execution of the Contract by the Bidder in case of award.
Notes:
i. Other income shall not be considered for arriving at annual turnover.
ii. 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.