g. In case of developer as Bidder in clause 4.1.2 or 4.1.3, the documentary evidence (certified
by Chartered Accountant) for value of executed reference work must be submitted by the
Bidder.
h. Developer means an entity who has either executed or got executed the work/ project as
owner of industrial projects.
i. The execution of industrial project as EPC Contractor under Clause No. 4.1.3 means, such
EPC Contractor is responsible for all the activities i.e. Design/Engineering, Procurement,
Construction and Commissioning of a project/work.
4.2.0 FINANCIAL CRITERIA
4.2.1 The average annual turnover of the Bidder, should not be less than INR 80 Crores (Indian
Rupees Eighty Crore Only) during the preceding three (3) completed financial years as on
last date of submission of Application for Enlistment.
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 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 Bidder would be required to furnish along with its
Application for Enlistment, a Letter of Undertaking from the Holding Company, supported
by the Holding Company’s Board Resolution, as per the format enclosed in the Enlistment
documents, pledging unconditional and irrevocable financial support for the execution of
the Contract by the Bidder in case of award.
4.2.2 Net Worth of the Bidder as on the last day of the preceding financial year should not be less
than 100% (hundred percent) of Bidder’s paid-up share capital. In case the Bidder 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 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% (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.
4.2.3 In case the Bidder is not able to furnish its audited financial statements on standalone entity
basis, the unaudited unconsolidated financial statements of the Bidder can be considered