SEBI FINANCIAL RESULTS
FORMATS UPDATES ON 10TH AUGUST, 2016
Circular CIR/IMD/DF1/69/2016 dated August 10, 2016
1)
DISCLOSURES
OF ANNUAL FINANCIAL RESULTS
·
All Companies except Banking and Insurance
Companies shall follow
o
Existing Formats of disclosing half yearly
financial results shall continue upto December 2016.
o
But after December 2016 shall follow the
financial results i.e. Balance sheet and Profit & Loss account without
notes and detailed sub-classification as prescribed in schedule III to the
Companies act, 2013.
PROFIT/LOSS STATEMENT
OLD SHCEDULE UPTO 31ST DECEMBER 2016
PART II – STATEMENT OF PROFIT AND LOSS
Name of the Company…………………….
Profit and loss statement for the year ended
………………………
(Rupees in…………)
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Particulars
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Note
No.
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Figures
as at the end of current reporting period
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Figures
as at the end of the previous reporting period
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1
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2
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3
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4
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NEW SHCEUDLE W.E.F 1ST JANUARY 2017
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Particulars
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6 months (Current 6
months) ended (dd/mm/yyyy)
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6 months (Corresponding 6
months in the previous year) ended (dd/mm/yyyy)
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Year to Date
figures ended (dd/mm/yyyy) |
Previous year ended
(dd/mm/yyyy)
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Audited/ Unaudited*
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Audited/ Unaudited*
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Audited/ Unaudited*
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Audited/ Unaudited*
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* Clearly specify whether
the figures are audited or unaudited
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BALANCE SHEET
OLD SCHEDULE UPTO 31ST
DECEMBER 2016
PART I — BALANCE SHEET
Name of the Company…………………….
Balance Sheet as at ………………………
(Rupees in…………)
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Particulars
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Note No.
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Figures
as at the end of current reporting period
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Figures
as at the end of the previous reporting period
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1
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2
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3
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4
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NEW SCHEDULE W.E.F. 1ST JANUARY 2017
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Particulars
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As at (current half year
end / year end date)
(dd/mm/yyyy) |
As at (Previous year end
date)
(dd/mm/yyyy) |
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Audited/ Unaudited*
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Audited
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* Clearly specify whether
the figures are audited or unaudited
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2)
PUBLISH
FINANCIAL RESULTS
OLD RULE
(8)The
listed entity shall, within two calendar days of the conclusion of the meeting
of the board of directors, publish the financial results and statement referred
to in sub-regulation (4), in at least one English national daily newspaper
circulating in the whole or substantially the whole of India.
NEW RULE
The
financial results to be published in the newspapers, in terms of Regulation 52
(8)
of the Listing Regulations, shall be in the format as prescribed in Annexure I.
ANNEXURE I
Format for publishing
financial results in newspapers
[Regulation 52 (8), read with
Regulation 52 (4), of the SEBI (LODR) Regulations, 2015]
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Half
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Corresponding
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year
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half year ended in
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Previous
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Sl.
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ending /
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the previous year
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Particulars
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year
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No.
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Current
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(Applicable only in
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ended
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Year
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case of half
yearly
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ended
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results)
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1.
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Total Income from
Operations
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2.
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Net Profit /
(Loss) for the period (before Tax,
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Exceptional
and/or Extraordinary items#)
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3.
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Net Profit / (Loss)
for the period before tax (after
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Exceptional
and/or Extraordinary items#)
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4.
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Net
Profit / (Loss) for the period after tax (after
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Exceptional
and/or Extraordinary items#)
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5.
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Total Comprehensive Income
for the period
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[Comprising
Profit / (Loss) for the period (after
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tax) and
Other Comprehensive Income
(after
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tax)]
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6.
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Paid
up Equity Share Capital
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7.
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Reserves
(excluding Revaluation Reserve)
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8
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Net
worth
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9
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Paid
up Debt Capital / Outstanding Debt
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10
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Outstanding
Redeemable Preference Shares *
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11.
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Debt
Equity Ratio *
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12.
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Earnings
Per Share (of Rs. ___/- each) (for
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continuing
and discontinued operations) -
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1.
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Basic:
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2.
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Diluted:
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13.
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Capital
Redemption Reserve *
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14.
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Debenture
Redemption Reserve *
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15.
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Debt
Service Coverage Ratio *
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16.
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Interest
Service Coverage Ratio *
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Note:
a) The
above is an extract of the detailed format of half yearly/annual financial
results filed with the Stock Exchanges under Regulation 52 of the SEBI (Listing
and Other Disclosure Requirements) Regulations, 2015. The full format of the
half yearly/annual financial results are available on the websites of the Stock
Exchange(s) and the listed entity. (URL of the filings).
b) For
the items referred in sub-clauses (a), (b), (d) and (e) of the Regulation 52
(4) of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015,
the pertinent disclosures have been made to the Stock Exchange(s) (specify
names of Stock Exchanges) and can be accessed on the URL (specify URL).
c) The
impact on net profit / loss, total comprehensive income or any other relevant
financial item(s) due to change(s) in accounting policies shall be disclosed by
means of a footnote.
d) # -
Exceptional and/or Extraordinary items adjusted in the Statement of Profit and
Loss in accordance with Ind AS Rules / AS Rules, whichever is applicable.
e) * -
The pertinent items need to be disclosed if the said disclosure is required as
per Regulation 52 (4) of the SEBI (Listing and Other Disclosure Requirements)
Regulations, 2015.
3)
IMPLEMENTATION OF IND
AS
HOWEVER listed Companies are following Ind AS standards but there
are some relaxation in the rules for first half year.
a)
The timeline for submitting
is extended by one month
b)
Now, Comparative financial
results for the corresponding half year in the preceding year, the limited
review or audit of such comparative half yearly results is not mandatory.
c)
Comparative full year is
not mandatory
d)
a listed entity may prepare financial statements
for a period different from the normal 12 month period (For instance, new
incorporated listed company may now be required to prepare financial statements
for a period different from the normal 12 month period for coinciding with 31st
day of March as prescribed under Section 2 (41) of the Companies Act, 2013).
e)
The listed
entity, in such cases, shall disclose a suitable note, with due
prominence, that comparative figures presented in the half-yearly / annual
financial results are not entirely comparable because of the above reasons.
4)
Clarifications with
regard to implementation of Ind AS
Interim
financial reports
OLD RULE
RECONCILIATION OF EQUITY & INCOME
If
an entity presents an interim financial report in accordance with Ind AS 34 for
part of the period covered by its first Ind AS financial statements, the entity
shall satisfy the following requirements in addition to the requirements of Ind
AS 34:
Each
such interim financial report shall, if the entity presented an interim
financial report for the comparable interim period of the immediately preceding
financial year, include:
(i)
a reconciliation of its equity in accordance
with previous GAAP at the end of that comparable interim period to its equity
under Ind ASs at that date; and
(ii)
a reconciliation to its total comprehensive
income in accordance with Ind AS for that comparable interim period (current
and year to date). The starting point for that reconciliation shall be total
comprehensive income in accordance with previous GAAP for that period or, if an
entity did not report such a total, profit or loss in accordance with previous
GAAP.
NEW RULE
RECONCILIATION OF EQUITY & NET PROFIT/LOSS STATEMENT
i)
The listed entities in order to comply with the
requirements of paragraph 32 of Ind AS 101 - 'First time Adoption of Ind AS’,
shall provide a reconciliation of its equity and net profit / loss, in the
following manner, for enabling the investors to understand the material
adjustments to the Balance Sheet and Statement of Profit and Loss on account of
transition from the previous Indian GAAP to Ind AS:
a.
Reconciliation of Equity for the previous year
(i.e. for the year immediately before Ind AS adoption), shall be provided while
submitting the annual financial results for the first year of adoption.
b.
Further, if the listed entity opts to submit
comparative full year results along with the financial results for the first
half year of the adoption of Ind AS in terms of Paragraph 2.8 (iii) above, then
such Reconciliation of Equity for the previous year shall be provided while
submitting the aforesaid half yearly financial results also.
ii)
Reconciliation of net profit / loss shall be
provided only for the corresponding half year in the preceding year.
