Module Mounting Structure for 23 MW solar PV Project
at NTPC-Solapur
BIDDING DOCUMENT NO.: RE-CS-5749-004(MMS)-9
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder, should not be less than INR 595 Lakhs (Indian
Rupees Five Hundred Ninety five Lakhs only) during the preceding three (3) completed
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. In such case, however, 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 financial statements
form part of the consolidated financial statement of the Holding 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 the Bidder is not able to submit the Certificate from
a practicing Chartered Accountant certifying its financial parameters, the audited result of