Hindustan Steelworks Construction Limited Tender

The bid capacity required in the given tender to bid can be calculated using the following formulas: 1. Average annual Audited financial turnover (after enhancement) for last 3 years shall be at least 40% of the estimated cost put to tender. 2. The value of annual turnover figures shall be brought to the current value (i.e. preceding Financial year) by enhancing the actual turnover figures at the rate of: - 7% for the turnover of the last financial year - 14% for the turnover of the year before last - 21% for the turnover of the year before that 3. The Audited Net Worth of the company/firm as on last day of preceding (or last audited) Financial Year, should be minimum 10% of the Estimated Cost put to Tender. So, the bid capacity required can be calculated as: - Average annual Audited financial turnover (after enhancement) = (Turnover of last 3 years / 3) >= 0.4 * Estimated Cost - Audited Net Worth >= 0.1 * Estimated Cost For a specific tender with an estimated cost of Rs. 3,23,50,165.00, - Minimum Net Worth = 0.10 * 3,23,50,165.00 = Rs. 32,35,016.50 Additionally, the bidder should have a minimum turnover of the last three years, with the figures enhanced as follows: + Figures of turnover of the last year shall be enhanced by 7%. + Figures of turnover of the year before last shall be enhanced by 14%. + Figures of turnover of the year before that shall be enhanced by 21%. The bidder should have earned profit in at least one year in the available last three consecutive balance sheets. A self-certified copy of the Bank Solvency Certificate issued from a Nationalised or any Scheduled Bank should be submitted, with a value of at least 40% of the Estimated Cost of the Project put to tender, if the estimated cost is more than Rs.10 Crore. Formula for calculating the enhanced turnover: Enhanced Turnover = (Turnover of the year) x (Enhancement percentage) Example: Enhanced Turnover for the last year = (Turnover of the last year) x 1.07 Enhanced Turnover for the year before last = (Turnover of the year before last) x 1.14 Enhanced Turnover for the year before that = (Turnover of the year before that) x 1.21 Minimum Net Worth: Rs. 32,35,016.50 Average Annual Financial Turnover: calculated over three years, enhanced to current value at 7% per annum.