Revised Formats for filing Financial information
Revised Formats for filing Financial information for issuers of non-convertible securities
- Vide notification dated September 07, 2021, Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (‘Listing Regulations’) were amended, inter-alia, mandating entities that have listed non-convertible securities to disclose 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. Accordingly, this circular provides the revised formats for reporting of financial information and limited review report.
Formats for filing financial information:
A. Formats for Standalone financial results on a quarterly basis andStandalone 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):
a) Content: 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.
b) Format: The financial results shall be disclosed in the following format:
Notes:
-In case the listed entity does not have corresponding quarterly financial results for the four quarters ended September 2020, December 2020, March 2021 and June 2021, the column on corresponding figures for such quarters will not be applicable.
-The financial results shall also include line items specified under regulation 52(4) of the Listing Regulations.
B. 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):
a) Content: 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.
b) Format: The statement of assets and liabilities shall be in the following format:
In case the listed entity does not have corresponding statement of assets and liabilities for the half year ended September 2020, the column on corresponding figures will not be applicable.
C. 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):
a) Content: 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, in the following format:
b) Format: The statement of Cash Flows shall be in the following format:
In case the listed entity does not have the corresponding cash flow statement for the half year ended September 2020, the column on corresponding figures will not be applicable.
2. Banking Companies and Insurance Companies shall disclose financial information as per the formats prescribed under the respective Acts/ Regulations as specified by their Regulators.
3. 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.
4. Reasons for delay in disclosure of financial results (to be submitted to Stock Exchanges and placed on listed entity’s website:
a. In case of non-submission/ delayed submission of financial results within the timelines prescribed under regulation 52 of the Listing Regulations, the listed entity shall disclose detailed reasons for such non-submission/ delay to the stock exchanges within one working day of the due date of submission of the financial results.
b. In case the decision to delay the results was taken by the listed entity prior to the due date, the listed entity shall disclose detailed reasons for such delay to the stock exchanges within one working day of such decision.
5. Stock Exchanges are advised to bring the provisions of this circular to notice of the listed entities and disseminate it on their websites. The circular is issued in exercise of the powers conferred under section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with regulations 52 and 101 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The circular is available on SEBI website at www.sebi.gov.in under the category ‘Legal->Circulars’
Also Read: Circular on Mutual Funds by SEBI
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