Clause 1.2 above, unless the bidder has individually executed the work meeting the requirement of Clause 1.2 above and
which has been duly authenticated by the Project Authority.
j)
Reference work executed by a Bidder as a sub-contractor may also be considered provided the certificate issued by main
contractor is duly certified by Project Authority specifying the scope of work executed by the sub-contractor in support
of qualifying requirements.
2
.0 Financial criteria:
2
.1
The average annual turnover of the Bidder, should not be less than Rs. 2147.79 Lakhs (Rupees Twenty One crore
Forty Seven Lakhs & Seventy Nine Thousand only) during the preceding three (3) completed financial years as on
date of Techno-Commercial bid opening.
2
.2
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 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 the Contract
by the Bidder in case of award.
2
.3
Net worth of the bidder as on the last day of the preceding financial year (reckoned on the date of techno-commercial bid
opening) should not be less than 100% of the 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 Subsidiary(ies) 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% of their total paid up share capital. However individually, their Net worth should not be less than
7
5% 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.
2
2
.4
.5
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.
(
i) Copies of the unaudited unconsolidated financial statements of the Bidder 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
company.
In cases 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 a practicing Chartered Accountant certifying its financial parameters, the
audited results of 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 practicing Chartered Accountant certifying the financial parameters is not
available.
NOTES FOR CLAUSE 2.0 ABOVE:
a) “Holding Company” and “Subsidiary” shall have the meaning ascribed to them as per Companies Act of India,
in vogue.
b) Net worth means the sum total of the paid up share capital and free reserves. Free reserves means all reserves
credited out of the profits and share premium account but does not include reserves credited out of the
revaluation of the assets, write back of depreciation provision and amalgamation. Further any debit balance of
Profit and Loss account and miscellaneous expenses to the extent not adjusted or written off, if any, shall be
reduced from reserves and surplus.
c) Other income shall not be considered for arriving at annual turnover.
d) The bidder should have independent PF code issued by RPFC, valid PAN number and active GST registration
number and the relevant documents shall be submitted along with bid proposal.
Page 5 of 5
SECTION - I INVITATION FOR BIDS (IFB)
