should not be less than 75% of their respective paid up share capitals. For Consortiums/
Joint Ventures, wherever applicable, the Net worth of all consortium/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.
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.
5.2.4 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 in
the bid documents, stating that the unaudited unconsolidated financial statements form
part of the Consolidated Annual Financial Statements of the Holding Company
5.2.5 In cases 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 a 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 that the financial results of the
Company are under audit as on the date of Techno-Commercial bid opening and the
certificate from the practising Chartered Accountant certifying the financial parameters is
not available.
Notes:
i) The word “executed” means the bidder should have achieved the criterion specified in QR, even
if the total contract is not completed/closed. Bidder to submit copies of work order/purchase
order giving details of work executed and user certificate for performance. If user certificate is
not available, then proof of execution in terms of payment/Invoice to be provided.
ii) Net worth means the sum total of the paid up share capital and free reserves. Free reserves
means all reserves credited out of the profits and share premium account but does not include
reserves credited out of the revaluation of the assets, write back of depreciation provision 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
iii) Other income shall not be considered for arriving at annual turnover.