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]

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
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.
The results shall be signed by the MD/Director
At least 7 days before the Board Meeting, the company shall inform the SEs about the Board Meeting
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
The unaudited results should not substantially differ from the audited results by 20% otherwise reasons for the difference should be explained to the SEs
Unaudited QR for the last quarter need not be published if the company informs the SE in advance that it will publish audited results within 3 months from the end of the accounting year of the company
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
With effect from quarter ending on or after June, 2003 the QR shall be subjected to Limited Review by the auditors.
The format of limited review report (LRR) is given hereafter.
The LRR shall be submitted to the SEs within 2 months of the close of the quarter."
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
The company will publish its Annual Results in the same format as prescribed for quarterly results in this clause

2) Half-Yearly Results [HYR]

The HYR shall be in the same format as the QR and shall be subject to limited review by the auditors [discussed separately]
The format of limited review report [LRR] is given hereafter
The LRR shall be submitted to the SEs within 2 months of the end of the half-year
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
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 (Rs.In lakhs)

Particulars

3 months ended (dd/mm/yyyy)

Preceding
3 months
ended (dd/mm/yyyy)

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

Year to date
figures for
current period
ended
(dd/mm/yyyy)

Year to date
figures for the previous
year ended
(dd/mm/yyyy)

Previous
accounting year ended
(dd/mm/yyyy)

1 Income from operations

Net Sales/Income from Operations
Other Operating Income

2 Expenditure

Cost of materials consumed.
Purchase in stock- in-trade
Changes in inventories of finished goods, work-in-progress and stock-in-trade
Employees benefits expenses
Depreciation and Amortisation Expense
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 Rs.____)"

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 Rs.____/- each)(not annualised):

Basic
Diluted

20 (ii) "Earnings Per Share (EPS)”(after extraordinary items )(of Rs.____/- each)(not annualised):

Basic
Diluted

A Particulars of Shareholding

1 Public Shareholding

No. of shares

Percentage of shareholding

2 Promoters and promoter group shareholding **

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)

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.