2.0.0 FINANCIAL CRITERIA:
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 428 Million
(Four Hundred and twenty-Eight 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.
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 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 2.0.0: