IV. In case of orders under execution, the value of work executed till the date of Techno-
commercial bid opening as certified by the bidder’s client shall be considered.
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.2 Financial criteria:
.2.1 The average annual turnover of the Bidder, shall not be less than ₹ 2.00 Crores
(Rupees Two Crores only) during the preceding three (3) completed financial years as
on the date of Techno-commercial bid opening.
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.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 6.2.1
above on its own, its holding company would be required to meet the stipulated turnover
requirements at Cl. 6.2.1 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 Techno-Commercial 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.
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.2.3 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. 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
1
00% 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 their
respective paid up share capitals and Y1, Y2, Y3 are individual paid up share capitals
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.2.4 In case the bidder is not able to furnish its audited financial statements on stand-
alone 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.
1
2
. Copies of the unaudited unconsolidated financial statements of the bidder along
with copies of the audited consolidated financial statements of its Holding
Company.
. 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 Report of the company.
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