2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder, should not be less than Rs. 240
Crore (Indian Rupees Two Hundred Forty Crore only) during the preceding
three (3) financial years as on date of techno-commercial bid opening.
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.
2.2 Net Worth of the Bidder as on the last day of the preceding financial year
should not be less than 100% (hundred percent) of 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 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 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.
2.3 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 on 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) Certificate from the CEO/ CFO of the Holding Company, as per the format
enclosed in the bidding documents, stating that the unaudited unconsolidated