1.2.1 Financial criteria for bidders
(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 INR 4.36 Crore (Indian
Rupees four Crore and thirty six lakh 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 stipulated above 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 Subsidiary(ies) 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.