Note: Executed value towards supply of paint shall also be considered for calculation of
executed value of work for the purpose of QR.
5.2
Financial Criteria
(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 ₹ 143 Lakh (Rs. One
Hundred Forty Three Lakh only).
In case a bidder does not satisfy the financial criteria, stipulated above on its own, its Holding
Company would be required to meet the stipulated turnover requirements 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)
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:
(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) A 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 annual financial statements of the
Holding Company.
In case 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 practising Chartered Accountant shall be
considered acceptable. In case, Bidder is not able to submit the certificate from practising Chartered
Accountant certifying its financial parameters, the audited results for the 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 practising Chartered Accountant
certifying the financial parameters is not available
NOTES
Other income shall not be considered for arriving at annual turnover.