b) The Net worth of the Bidder shall 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 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. 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.
c) In case where audited result of the last financial year as on the date of Techno-
commercial bid opening is not available, the financial results duly certified by a practicing
Chartered Accountant shall be considered acceptable. In case the 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 proceeding 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 that the Certificate
from the practising Chartered Accountant certifying the financial parameters is not
available.
d) In case the Bidder is not able to furnish its audited Financial statements on stand- alone
entity basis, the un-audited un-consolidated 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 un-audited un-consolidated 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 un-audited un-consolidated Financial Statements
form part of the consolidated Financial Statements of the Holding Company.
Notes:
(i) Other income shall not be considered for arriving at annual turnover.
(ii) The word ‘executed’ above means that the bidder should have achieved the criteria
mentioned in the Qualifying Requirement within the period specified even if the total
contract has been started earlier and/or is not completed/closed.