2. The average annual turnover of the bidder in the preceding three (03) financial years as on
the date of Techno-commercial bid opening, shall not be less than Rs 44.56 Lakhs (Indian
Rupees Forty Four lakhs and Fifty Six Thousand only).
3. In case bidder does not satisfy the financial criteria, stipulated at Cl. B (2) above on its own,
its holding company would be required to meet the stipulated turnover requirements at Cl.
B (2) 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, bidder would be required to furnish along with its bid, a
letter of Undertaking from its holding company, supported by Board resolution of the
Holding company, as per the format enclosed in the bidding documents, pledging
unconditional and irrevocable financial support for the execution of the Contract by the
bidder in case of award.
4. 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 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 are not available.
5. In case the bidder is not able to furnish it’s audited financial statements on standalone
entity basis, the un-audited unconsolidated financial statements of the bidder can be
considered acceptable provided the bidder further furnishes the following documents for
substantiation of its qualification.
a. Copies of the un-audited unconsolidated financial statements of the bidder along with
copies of the audited consolidated financial statements of the holding company.
b. A certificate from the CEO/ CFO of the Holding Company, as per the format enclosed in the
bidding documents, stating that the un-audited unconsolidated financial statements from
part of the Consolidated Financial Statements of the Holding Company.
6. The bidder should have a separate valid PF Registration with Regional Provident Fund
Commissioner, GST registration number and PAN Number.
Notes:
1. Other income shall not be considered for arriving at annual turnover.
2. Holding company and Subsidiary Company shall have the meaning ascribed to them as per
Companies Act of India.
3. Net worth means the sum total of the paid up share capital and free reserves. Free
reserves means all reserves credited out of the profit and share premium account but does
not include reserves credited out of the revaluation of assets, write back of
depreciation provisions and amalgamation. Further, any debit balance of profit and loss
account and miscellaneous expenses to the extent not adjusted or written off, if any, shall
be reduced from Reserves and Surplus.
C. Notwithstanding anything stated above, the Employer reserves the right to assess the
capabilities and capacity of the Bidder/ his collaborators/associates/subsidiaries/group
companies to perform the contract should the circumstances warrant such assessment in
the overall interest of the Employer.