Dear All,
Here are the updates:
SEBI vide circular dated 07 September, 2021 has mandated disclosure of financial results on a quarterly basis, including assets & liabilities and cash flows as well as requiring certain changes in the line items in the financial results by entities that have listed non-convertible securities.
Accordingly, vide circular dated 05 October, 2021, SEBI has revised formats for reporting of financial information and limited review report.
| Particular | Submission | Content | Format |
| Formats for Standalone financial results on a quarterly basis and Standalone and consolidated financial results on an annual basis | To be submitted to Stock Exchanges and placed on listed entity’s website – regulations 52(1) and (2) of the Listing Regulations | Financial results shall contain the items mentioned in the Statement of Profit and Loss (excluding notes and detailed sub-classification) as prescribed in Schedule III of the Companies Act, 2013 and the extent and nature of security created and maintained in case of secured non-convertible debt securities, details of which are required as per regulation 54(3) of Listing Regulations. | https://www.sebi.gov.in/legal/circulars/oct-2021/revised-formats-for-filing-financial-information-for-issuers-of-non-convertible-securities_53136.html |
| Format for Statement of assets and liabilities on half yearly basis | To be submitted to Stock Exchanges and placed on listed entity’s website – regulation 52(2)(f) of the Listing Regulations | Statement of assets and liabilities shall contain the items mentioned in the format of Balance sheet (excluding notes and detailed sub-classification) as prescribed in Schedule III of the Companies Act, 2013. | |
| Format for Statement of cash flows on half yearly basis | To be submitted to Stock Exchanges and placed on listed entity’s website – regulation 52(2)(f) of the Listing Regulations | The Statement of Cash Flows shall be prepared under the indirect method as prescribed in Accounting Standard-3/ Indian Accounting Standard 7, mandated under Section 133 of the Companies Act, 2013 read with relevant rules framed thereunder or by the Institute of Chartered Accountants of India, whichever is applicable | |
| Format for financial results in newspapers | – | The format of financial results to be published in newspapers, in terms of Regulation 52 (8) of the Listing Regulations, is prescribed in Annex – I. | |
| Reasons for delay in disclosure of financial results (to be submitted to Stock Exchanges and placed on listed entity’s website | – | – |
About the Author
