NOTE FOR CLAUSE 6.1.0:
Each Single Front Panel shall be counted as one (1) Panel, Double Front Panel as one (1)
Panel and Air Circuit Breaker Panel as one (1) Panel.
6.2.0 Financial Criteria:
6.2.1 Financial Criteria for Bidder
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 ₹ 49 Million (Indian Rupees
Forty Nine Million 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 with 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 as on the last day of the preceding financial year should not be
less than 100% (hundred percent) of its paid-up share capital. In case the Bidder does not
satisfy 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 Subsidiaries 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 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 with the
bid documents, stating that the unaudited unconsolidated financial statements form part of the
consolidated annual financial statements of the Holding Company.
In case 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
the 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 with the bid documents stating that the financial results
of the Company are under audit as on the date of Techno-commercial bid opening and the