2.0
FINANCIAL CRITERIA
2.1 AverageAnnualTurnoverofthebidder,intheprecedingThree(3)FinancialYearsasonthedate
ofTechno‐CommercialbidopeningshallnotbelessthanRs908.22Lakhs(RupeesNineHundred
Eightlakhtwentytwothousandonly).
2.2 NetWorthofthebidderasonthelastdayofprecedingFinancialYear(asonthedateofTechno
Commercialbidopening)shallnotbelessthan100%ofitspaidupsharecapital.
Incasethebiddermeets therequirementofNetworthatpara2.2,basedonthestrengthof its
subsidiary(ies)and/orHoldingCompanyand/orSubsidiariesofitsHoldingcompanieswherever
applicable,thenetworthofthebidderanditssubsidiary(ies)and/orHoldingCompanyand/or
SubsidiariesofitsHoldingcompanies,incombinedmannershouldnotbelessthan100%oftheir
totalpaidupsharecapital.However,individually,theirnetworthshouldnotbelessthan75%of
theirrespective paidupshare capital.Forconsortiums/Jointventures, wherever applicable,the
Networthofallconsortiums/Jointventuremembersincombinedmannershouldnotbelessthan
100%oftheirpaidupsharecapital.Howeverindividually,theirNetworthshouldnotbelessthan
75%oftheirrespectivepaidupsharecapitals.
2.3 In case the bidder is not able to furnish its audited financial statement on standalone entity basis, the
unaudited unconsolidated financial statements of the bidder can be considered acceptable provided
the bidder furnishes the following further documents on substantiation of its qualification.
a) Copies of unaudited unconsolidated financial statement of the bidder along with copies of
audited consolidated financial statements of the Holding Company.
b) A certificate from the CEO/CFO of the Holding Company, as per format enclosed in the bid
documents, stating that the unaudited unconsolidated financial statements form part of the
consolidated Annual Report of the 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 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 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.
2.4 In case a bidder does not satisfy the financial criteria, stipulated at para 2.1 and/or para 2.2 above
on its own, the Holding Company would be required to meet the stipulated turnover requirements at
para 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 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.
NOTES:
i) Net worth means the sum total of the paid up share capital and free reserves. Free reserve
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.
ii) Otherincomeshallnotbeconsideredforarrivingatannualturnover.