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For Consortiums/Joint Ventures, the Net worth of all consortiums/Joint Venture members
in combined manner should not be less than 100% (Hundred Percent) of their 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.
7.2.1.3 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 furnishes the following further 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 bidding documents, stating that the unaudited unconsolidated financial
statements form part of the Consolidated Annual Report of the Company.
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 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 Certificates from the practicing
Chartered Accountant certifying the financial parameters is not available.
7.2.2 Financial Criteria for Parent Company/Collaborator/Associate for Qualification
a) For Bidder seeking qualification through clause no 7.1.2/7.1.3/7.1.4 above, the average
annual turnover of its Parent Company/Collaborator/Associate (meeting requirement of
clause 7.1.1 above) in the preceding three (3) financial years prior to the date of Techno-
commercial bid opening should not be less than Rs. 267 Million (Indian Rupees Two
Hundred Sixty Seven Million only) or in equivalent foreign currency.
In case a Parent Company/Collaborator/Associate does not satisfy the average annual
turnover criteria above, on its own, its Holding Company would be required to meet the
stipulated turnover requirements at Cl. 7.2.2 (a) 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
Parent Company/Collaborator/Associate would be required to furnish along with bidder's
Techno-Commercial bid, a Letter of Undertaking from its Holding Company, supported by
the Holding Company’s Board Resolution, as per the format enclosed with the bid
documents, pledging unconditional and irrevocable financial support to the Parent
Company/Collaborator/Associate to honour the terms and conditions of the Deed of Joint
Undertaking in case of award of the contract to the bidder with whom Parent
Company/Collaborator/Associate is associated.