clause 6.1.1
6.2.0 Financial Criteria
6.2.1 Financial Criteria of Bidder for Qualification
a) The average annual turnover of the Bidder, in the preceding three (3) financial years as on the
date of Techno-Commercial bid opening, should not be less than INR 91 Million (Indian Rupees
Ninety One Million only) or in equivalent foreign currency.
In case a Bidder does not satisfy the average 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.
b) Net worth should not be less than 100% (hundred percent) 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 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 share capital 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.
c) 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 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
with the bidding documents, stating that the unaudited unconsolidated financial
statements form part of the consolidated financial statements of the Holding 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 6.2.0