7.2.1 The average annual turnover of the Bidder, should not be less than ₹ 516.78 Lakh (Rupees
Five Hundred Sixteen Lakh and Seventy-Eight Thousand only) during the preceding three (3)
completed financial years as on the date of Techno-commercial bid opening.
7.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 7.2.1 above on its
own, its holding company would be required to meet the stipulated turnover requirements at Cl.
7.2.1 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 Board
Resolution of the holding company, 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.
7.2.3 The Net Worth of the bidder shall not be less than 100% 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% of their total paid up share capital. However
individually, their Net worth should not be less than 75% 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 their respective
paid up share capitals and Y1, Y2, Y3 are individual paid up share capitals.
7.2.4 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:-
1. Copies of the unaudited unconsolidated financial statements of the bidder along with
copies of the audited consolidated financial statements of its Holding Company.
2. 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 Report of the Holding Company.
7.2.5 In cases where audited results for the last preceding 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 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.