b) 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 in the preceding three (3) Financial Years as on
the date of techno-commercial bid opening shall not be less than Rs.3581.01 Lakh ( Indian
Rupees Thirty Five Crore Eighty One Lakh One Thousand only) or in equivalent foreign
currency.
2
.2 The Net Worth of the bidder as on the last day of preceding financial year shall not be less
than 100 % of its paid up share capital.
In case the bidder meets the requirement of Net worth at para 2.2, 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 Subsidiaries of its Holding companies, 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 capital.
For consortiums/ Joint ventures, wherever applicable, the Net worth of all consortiums/ 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.
2
.3 In case the bidder is not able to furnish its audited financial statement on standalone entity
basis, the unaudited unconsolidated financial statements of the bidder can be considered
acceptable provided the bidder furnishes the following further documents on substantiation of
its qualification.
a. Copies of unaudited unconsolidated financial statement of the bidder along with
copies of audited consolidated financial statements of the Holding Company.
b. A certificate from the CEO/CFO of the Holding Company, as per format enclosed in
the bid documents, stating that the unaudited unconsolidated financial statements
form part of the consolidated Annual Report of the Company.
In case where audited results for the last financial year as on 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 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