2.0 FINANCIAL CRITERIA
2.1 Average Annual Turnover of the bidder, in the preceding three (3) financial years as on the date of
Techno‐Commercial bid opening, shall not be less than Rs. 581 Lacs (Rupees Five Crore Eighty one Lacs
Only).
2.2 Net Worth of the bidder as on the last day of preceding financial year shall not be less than 100 % of its
paid up share capital.
In case the bidder meets the requirement of Net worth at para 2.2, based on the strength of its
subsidiary(ies) and / or Holding Company and / or Subsidiaries of its Holding companies wherever
applicable, the net worth of the bidder and its subsidiary(ies) and / or Holding Company and / or
Subsidiaries of its Holding companies, 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 capital. For consortiums/ Joint ventures, wherever applicable, the Net worth
of all consortiums/ 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.
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.3 In case the bidder is not able to furnish its audited financial statement on standalone entity basis, the
unaudited unconsolidated financial statements of the bidder can be considered acceptable provided
the bidder furnishes the following further documents on substantiation of its qualification.
a) Copies of unaudited unconsolidated financial statement of the bidder along with copies of
audited consolidated financial statements of the Holding Company.
b) A certificate from the CEO/CFO of the Holding Company, as per format enclosed in the bid
documents, stating that the unaudited unconsolidated financial statements form part of the
consolidated Annual Report of the Company.
In case where audited results for the last financial year as on 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 certificate from the practicing Chartered Accountant certifying the financial
parameters is not available.
2.4 In case a bidder does not satisfy the financial criteria, stipulated at para 2.1 and/or para 2.2 above on
its own, the Holding Company would be required to meet the stipulated turnover requirements at para
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.1 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 bid, a Letter of Undertaking from
the Holding Company, supported by 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.