7.2.1 Financial Criteria for bidder
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 112.84 Crore [Indian Rupees One Hundred Twelve Crore Eighty-Four Lakh
only]
a)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)
The 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 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 shall 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 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
Statements of the Holding Company.