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2.1 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 153.9
Million (Indian Rupees One Fifty Three point Nine Million only).
2.2 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.
2.3 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
does not meet 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 a 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. For Consortium, the Net worth of all consortium members in
combined manner should not be less than 100% (hundred percent) of their 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.
2.4 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 proceeding 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.