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Publishing quarterly/half-yearly results by listed companies and limited review report

The Listing Agreement [LA] entered into by listed companies with stock exchange(s) [SEs] requires under clause 41 publishing of quarterly/half-yearly results by listed companies. The requirements are listed hereunder :

  1. Quarterly Results [QR]
    1. A company shall publish unaudited financial results on quarterly basis as per proforma given hereafter within one month of the end of the quarter to the SEs and immediately after market hours on the date of Board Meeting
    2. The results shall also be published in a daily newspaper with national circulation and in one regional language daily newspaper within 48 hours of the Board Meeting.
    3. The results shall be signed by the MD/Director
    4. At least 7 days before the Board Meeting, the company shall inform the SEs about the Board Meeting
    5. Any change of name in the company suggesting new line of business should disclose the turnover and income, etc. from the new activities separately for 3 years from the date of name change
    6. The unaudited results should not substantially differ from the audited results by 20% otherwise reasons for the difference should be explained to the SEs
    7. Unaudited QR for the last quarter need not be published if the company informs the SE in advance that it will publish audited results within 3 months from the end of the accounting year of the company
    8. The QR shall be prepared on the basis of accrual accounting policy and in accordance with uniform accounting practices adopted for all the periods on quarterly basis
    9. With effect from quarter ending on or after June, 2003 the QR shall be subjected to Limited Review by the auditors.
    10. The format of limited review report (LRR) is given hereafter.
    11. The LRR shall be submitted to the SEs within 2 months of the close of the quarter."
    12. The company will have the option to publish consolidated quarterly financial results in addition to the unaudited quarterly financial results of the parent company as required under this clause
    13. The company will publish its Annual Results in the same format as prescribed for quarterly results in this clause
  2. Half-Yearly Results [HYR]
    1. The HYR shall be in the same format as the QR and shall be subject to limited review by the auditors [discussed separately]
    2. The format of limited review report [LRR] is given hereafter
    3. The LRR shall be submitted to the SEs within 2 months of the end of the half-year
    4. The QR of the 2 quarters contained in the half-year should not vary more than 20% of its sum total otherwise a statement of reasons should be sent to the SEs
    5. To the extent possible, requirements in items relating to QR shall apply to HYR also.

FORMAT OF UNAUDITED FINANCIAL RESULTS FOR THREE MONTHS ENDED XX-XX-20XX

Part I (₹ In lakhs)
Particulars 3 months ended Preceding 3 months ended Corresponding 3 months ended in the previous year Year to date figures for current period ended year Year to date figures for the previous ended Previous accounting year ended
  (dd/mm/yyyy) (dd/mm/yyyy) (dd/mm/yyyy) (dd/mm/yyyy) (dd/mm/yyyy) (dd/mm/yyyy)
  1. Income from operations
    1. Net Sales/Income from Operations
    2. Other Operating Income
  2. Expenditure
    1. Cost of materials consumed.
    2. Purchase in stock- in-trade
    3. Changes in inventories of finished goods, work-in-progress and stock-in-trade
    4. Employees benefits expenses
    5. Depreciation and Amortisation Expense
    6. Other expenditure
      "Total(Any item exceeding 10% of the total expenditure to be shown separately)"
  3. Profit/(Loss) from operations before other income, finance costs and exceptional items(1±2)
  4. Other Income
  5. Proftit / Loss from ordinary activity before finance costs and exceptional items (3±4)
  6. Finance costs
  7. Profit / (Loss) from ordinary activities after finance costsbut before exceptional items (5±6)
  8. Exceptional items
  9. Profit / (Loss) from Ordinary Activities before tax (7±8)
  10. Tax expense
  11. Net Profit / (Loss) from Ordinary Activities after tax (9±10)
  12. "Extraordinary Item(net of tax expense ₹____)"
  13. Net Profit / (Loss) for the period (11 ± 12)
  14. Share of Profit / (Loss) of associates*
  15. Minority interest*
  16. "Net Profit / (Loss) after taxes, minority interest and share of profit / (loss) of associates.(13 ± 14 ± 15)*"
  17. Paid-up equity share capital (Face Value of the Share shall be indicated)
  18. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
  19. (i) "Earnings Per Share (EPS)”(before extraordinary items ) (of ₹____/- each)(not annualised):
    1. Basic
    2. Diluted
  20. (ii) "Earnings Per Share (EPS)” (afterextraordinary items )(of ₹____/- each)(not annualised):
    1. Basic
    2. Diluted

A. Particulars of Shareholding

  1. 1 Public Shareholding
    No. of shares
    Percentage of shareholding
  2. 2 Promoters and promoter group shareholding **
    1. a) Pledged/Encumbered
      Number of shares
      Percentage of shares (as a% of the total shareholding of promoter and promoter group)
      Percentage of shares (as a% of the total share capital of the company)
    2. b) Non-encumbered
      Number of Shares
      Percentage of shares (as a% of the total shareholding of promoter and promoter group)
      Percentage of shares (as a % of the total share capital of the company)

B. Investor Complaints

Pending at beginning of quarter

Received during the quarter

Disposed of during the quarter

Remaining unresolved at the end of the quarter

 

            

*Applicable in case of consolidated results.

Note: The classification/disclosure of items in the financial results shall be in accordance with the Revised Schedule VI of the Companies Act, 1956. Further to the above, profit/loss from discontinuing operations, if any, included in the above shall be disclosed with details thereof.

Extract of Standalone / Consolidated Unaudited / Audited Results for the Quarter and __ Months Ended dd/mm/yyyy or for the Year

Particulars

Quarter ending / Current Year Ending (dd/mm/yyyy)

Year to date Figures / Previous Year ending (dd/mm/yyyy)

Corresponding 3 months ended in the previous year (dd/mm/yyyy)

(Unaudited)/(Audited)

(Unaudited)/(Audited)

(Unaudited)/(Audited)

Total Income from Operations (net)

Net Profit / (Loss) from ordinary activities after tax

Net Profit / (Loss) for the period after tax (after Extraordinary Items)

Equity Share Capital

Reserve excluding Revaluation Reserves as per balance sheet of previous year

Earnings Per Share (before extraordinary items)
(of ₹ ___/-each):

  1. Basic
  2. Diluted

Earnings Per Share (after extraordinary items)
(of ₹ ___/-each):

  1. Basic
  2. Diluted

Note:

  1. The above is an extract of the detailed format of quarterly / annual financial results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosures Requirements) Regulations, 2015. The full format of the Quarterly / Annual Financial Results are available on the Stock Exchange websites (URL of the filings).
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