2
2
.0
.1
Financial Criteria
The average annual turnover of the Bidder, in the preceding three (3) financial years as
on the date of opening of techno-commercial proposals, should not be less than Rs.
3
.43 Crores.
2
.2
The Net Worth of the Bidder should 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 Company wherever applicable, the
Net Worth of the Bidder and its Subsidiary(ies) and/or Holding Company, in combined
manner should not be less than 100% 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.
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.
In case the bidder is not able to furnish its audited financial statements on stand alone
2
.3
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 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 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
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 practising
Chartered Accountant certifying the financial parameters is not available.
2
.4
In case a Bidder does not satisfy the financial criteria stipulated in Clause 2.1 above on
its own,Its Holding Company would require to meet the stipulated turnover
requirements at Clause 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
should be required to furnish along with its Techno-Commercial bid, a letter of
undertaking from its Holding Company, supported by Board Resolution of the Holding
Company, as per the format enclosed in the bidding documents, pledging unconditional
and irrevocable financial support for the execution of the Contract by the Bidder in case
of award.