6.2.1 The average annual turnover of the Bidder, should not be less than Rs.
4.76 Crore (Rupees Four Crore and Seventy Six Lakh only) during the
preceding three (3) completed financial years as on the date of
Techno-commercial bid opening.
6.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl.
6.2.1 above on its own, its holding company would be required to
meet the stipulated turnover requirements at Cl. 6.2.1 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, 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
6.2.3 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 in 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 the Holding Company.
b) A Certificate from the CEO/CFO of the Holding Company, as per
the format enclosed in the bid documents, stating that the
unaudited unconsolidated financial statements form part of the
Consolidated Annual Report of the Holding company.
6.2.4 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 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 6.2.1 above:
1. Other income shall not be considered for computing annual turnover.
2. “Holding Company" and “Subsidiary Company” shall have the
meaning ascribed to them as per Companies Act of India, in vogue.