1.

Preparation of FS
[Reg. 33(1)(a)]

• on the basis of accrual accounting policy
• in accordance with uniform accounting practices adopted for all the periods

2.

Preparation of quarterly and year to date results

[Reg. 33(1)(b)]

• in accordance with the recognition and measurement principles laid down in AS 25/Ind AS 31 (AS 25/Ind AS 34 for Interim Financial Reporting), as applicable

3.

Stand alone and consolidated FS
[Reg. 33(1)(c)]

• as per Indian GAAP

Additionally, FS as per IFRS notified by IASB may also be submitted

4.

Limited Review/Audit report
[Reg. 33(1 (d)]

• LRR/audit report submitted to SEs on quarterly/annual basis to be given only by an auditor subjected to peer review process of ICAI and holding a valid certificate issued by the Peer Review Board of ICAI

5.

Disclosures
[Reg. 33(1)(e)]

• As specified in Part A of Schedule IV

6.

Approval and authentication of FS [Reg. 33(2)(a)]

• quarterly financial results ⟶ to be approved by BoD
  • CEO and CFO certification:- FS do not contain any false or misleading statement or figures and do not omit any material fact which may make the statements or figures contained therein misleading
• FS (including Annual Audited FS) to be signed by :
  • Chairperson / MD / WTD, or
  • in absence of all of them any other director authorized by BoD
• LRR to be placed before BoD at its meeting which approves FS, before submitting it to SE(s)

7.

Submission of FS to SE(s)
[Reg. 33(3), (8)]

• Quarterly & year-to-date stand alone results (except for last quarter) ⟶ submit within 45 days of the end of each quarter
• If listed entity has subsidiaries ⟶ may also submit consolidated financial results
  • For this purpose at least 80% of each of consolidated revenue, assets and profits, respectively, shall have been subject to audit or in case of unaudited results, subjected to LRR
  • Statutory auditor of a listed entity shall undertake a limited review of the audit of all the entities/companies whose accounts are to be consolidated with the listed entity as per AS 21 in accordance with guidelines issued by SEBI on this matter

• Submit audited/limited reviewed financial results in respect of the last quarter along with the results for the entire FY, with a note:
  • the figures of last quarter = audited figures in respect of the full FY, less, the published year-to-date figures up to the third quarter of the current FY
  • results for the last quarter⟶disclose,by way of a note, the aggregate effect of material adjustments made in the results of that quarter which pertain to earlier periods

• stand alone or consolidated results for the ½ year⟶ attach as a note
  • a statement of assets and liabilities as at the end of the ½ year; and
  • statement of cash flows for the ½ year

• (Annual) Audited standalone financial results for FY + annual audited consolidated financial results if it has subsidiaries ⟶ submit within 60 days from the end of FY along with audit report, and
  • for audit report with unmodified opinion⟶Declaration to that effect; OR
  • for audit report with modified opinion⟶Statement on Impact of Audit Qualifications

8.

Specified securities listed on SME exchange
[Reg. 33(5)]

• ½ yearly financial results to be prepared, authenticated and submitted instead of quarterly statement
• Not required to submit ‘year-to-date’ financial results

9.

Modified opinion [Reg. 33(6)]

• Statement on Impact of Audit Qualifications for audit report with modified opinion and accompanying annual audit report ⟶ to be reviewed by SE(s)

10.

Annual Report [Reg. 34]

• containing:
  • audited FS i.e., balance sheets, profit and loss accounts etc. and Statement on Impact of Audit Qualifications, if applicable;
  • CFS audited by its statutory auditors;
  • cash flow statement presented only under the indirect method as prescribed in AS-3/Ind AS-7;
  • directors report;
  • MDA report - either as a part of directors report or addition thereto;
  • for the top 500 listed entities based on market capitalization (calculated as on March 31 of every financial year), ⟶ business responsibility report describing the initiatives taken by them from an environmental, social and governance perspective, in the specified format
    • listed entities other than top 500, and having listed specified securities on SME exchange ⟶ may voluntarily include business responsibility report
  • other disclosures under the Co Act, 2013

  • To be submitted to SE(s) and publish on its website not later than the date of commencement of its dispatch to its SH

  • in the event of any changes to the annual report⟶ send the revised copy along with the details of, and explanation for the changes not later than 48 hours after the AGM

11.

Advertisements in Newspapers:
[Reg. 47]

Within 48 hours of
conclusion of BM

{

• Publish in the news papers simultaneously with the submission of the same to SE(s)
  • Notice of BM where financial results shall be discussed
  • financial results along-with the modified opinion(s) or reservation(s), if any, expressed by the auditor
  • if the listed entity has submitted both standalone and consolidated financial results,
    • publish consolidated financial results
    • along with (1) Turnover, (2) Profit before tax and (3) Profit after tax, on a stand-alone basis, as a foot note; and
    • a reference to the places, such as the website of listed entity and stock exchange(s), where the standalone results of the listed entity are available
  • statements of deviation(s) or variation(s) on quarterly basis, after review by AC and its explanation in directors report in annual report;
  • notices given to shareholders by advertisement
  • (give a reference to) link of the website of listed entity and SE(s), where further details are available
  • in at least 1 English language national daily newspaper circulating in the whole or substantially the whole of India + in 1 daily newspaper published in the language of the region, where the registered office of the listed entity is situated
• Non-applicability to: listed entities which have listed their specified securities on SME Exchange