enclosed in the bid documents stating the financial results of the Company are under audit as on
the date of Techno-Commercial bid opening and the certificate from the practicing Charted
Accountant certifying the financial parameters is not available.
7.3.0.0 Financial Criteria for collaborator /associate:
a) The average annual turnover of the Collaborator/Associate, in the preceding three (3) financial years
as on the date of Techno-Commercial bid opening, should not be less than INR 409 Millions (Indian
Rupees Four Hundred and nine Millions only) or in equivalent foreign currency.
In case the Collaborator/Associate does not satisfy the average annual turnover criteria, stipulated
above on its own, its Holding Company would be required to meet the stipulated turnover
requirements as 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 Collaborator/Associate 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 Contract by the
Collaborator/Associate, in case of award.
b) The Net Worth of the Collaborator/Associate should not be less than 100% (hundred percent) of its
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 Collaborator/Associate does not satisfy the Net Worth criteria on
its own, it can meet the requirement of Net Worth based on the strength of its Subsidiary (ies) and/or
Holding Company and/or Subsidiaries of its Holding Company wherever applicable. In such a case,
however, the Net Worth of the Collaborator/Associate 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% (hundred percent) of their total paid-up share capital. However individually, their Net Worth
should not be less than 75% (seventy five percent) 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 the Collaborator/Associate is not able to furnish its audited financial statements on stand alone
entity basis, the unaudited unconsolidated financial statements of the Collaborator/Associate can be
considered acceptable provided the Collaborator/Associate further furnishes the following documents
for substantiation of its qualification:
i) Copies of the unaudited unconsolidated financial statements of the Collaborator/Associate 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.
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, Collaborator/Associate is not able to submit the certificate from
practicing Chartered Accountant certifying its financial parameters, the audited results for the three