a) The average annual turnover of the bidder in the preceding three financial years
as on the date of opening of bid shall not be less than Rs. 85 Crore.
In case the bidder 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 bidder would be required to furnish along with its 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 the Contract by the Bidder in case
of award.
b) The Net Worth of the bidder as on the last day of the preceding financial year
should not be less than 100% (hundred percent) of its 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 if its Holding company wherever applicable.
In such a case, however, 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.
c) 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 acceptable provided the bidder further furnishes the
following documents for substantiation of its qualification:
a) Copies of the unaudited unconsolidated financial statements of the bidder along
with copies of the audited consolidated financial statements of its Holding
Company.
b) A Certificate from the CEO/CFO of the Holding Company, as per the format
enclosed in the bidding 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 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 for the 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 bid documents stating that the Financial results of the Company