Financial Criteria
9.2 The 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 `700 Lakhs (Seven Hundred Lakhs Only).
9.3 In case a Bidder does not satisfy the annual turnover criteria, stipulated
above on its own, its Holding Company would be required to meet the
stipulate d turnover requirements as above, provide d 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.
9.4 Net Worth of the bidder should not be less than 100% of the bidder's paid up
share capital as on the last day of the preceding financial year on the date of
Techno-commercial bid opening. In case the Bidder meets the requirement of
Net worth based on the strength of its Subsidiary(ies) and/or Holding
Company and/or Subsidiariy(ies) 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.
9.5 Net worth in combined manner shall be calculated as follows:
Net worth (combined) = [ (X l + X2 +X3) / (Y l +Y2 +Y3) ] X 100
Where Xl, 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.
9.6 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.
9.7 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.