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6.2.1 The average annual turnover of the Bidder, should not be less than Rs. 31.71 Lac
(Rupees Thirty One Lacs & Seventy One Thousand only) during the preceding three
(3) completed financial years as on first schedule date of Techno-commercial bid
submission.
6.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 6.2.1
above on its own, it’s holding company would be required to meet the stipulated
turnover requirements at Cl. 6.2.1 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 Techno-Commercial
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.
6.2.3 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 in 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 the
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
Report of the company.
6.2.4 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 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.
NOTES:
(i) Other income shall not be considered for arriving at annual turnover.
(ii) “Holding company “and “Subsidiary Company “shall have the meaning
ascribed to them as per Companies Act of India as defined below:
a) ‘Holding Company’, in relation to one or more other companies, means a
company of which such companies are subsidiary companies.