9.2.0 Financial Criteria
9.2.1 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 Rs. 2095 Lakh(Rupees Two Thousand and
Ninety Five Lakh Only).
In case a bidder does not satisfy the financial criteria, stipulated above on its own, its Holding Company
would be required to meet the stipulated turnover requirements 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.
9.2.2 The Net Worth of the bidder as on the last day of the preceding financial year(reckoned on the date of
techno-commercial bid opening) should not be less than 100% of the Bidder’s paid-up share capital. In
case the Bidder meets the requirement of Net worth 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 subsidiary(ies) of the Holding
Company, 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
capitals.
Net worth in combined manner shall be calculate 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.
9.2.3 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:
(a) Copies of the unaudited unconsolidated financial statements of the bidder along with copies of the
audited consolidated financial statements of its 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 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 for 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 Financial results of the Company are under audit as on the date of Techno-