TMI BlogRevised Formats for Financial Results and Implementation of Ind-AS by Listed EntitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... . The existing formats prescribed in SEBI Circular dated November 30, 2015 for Unaudited/Audited quarterly financial results i.e. Statement of Profit and Loss and the Unaudited/Audited Half-Yearly Balance Sheet to be submitted by the listed entities, with the stock exchanges, shall continue till the period ending December 31, 2016. For the period ending on or after March 31, 2017, the formats for Unaudited/Audited quarterly financial results i.e. Statement of Profit and Loss and the Unaudited/Audited Half-Yearly Balance Sheet to be submitted by the Listed Entities, with the stock exchanges, shall be as per the formats for Balance Sheet and Statement of Profit and Loss (excluding notes and detailed sub-classification) as prescribed in Sch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions'),shall be in the format as prescribed in Annexure I to the instant circular, which has now been slightly modified. Implementation of Ind-AS during the first year: 2.6. As mentioned in para 5 of the circular dated November 30, 2015, the comparatives filed alongwith the quarterly / annual financial results are required to be Ind-AS compliant. However, in order to facilitate smooth transition during the first year of Ind-AS implementation, the following relaxations are being given to the listed entities to which Ind-AS Rules are applicable from the accounting period beginning on or after April, 1, 2016: 2.6.1. For the quarter ending June 30, 2016 and September 30, 2016: (i) The timeline for submitting the financial re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts affairs. (v) The format of Balance Sheet for the Half-Yearly ended September 30, 2016 shall be as per the format for Balance Sheet (excluding notes and detailed sub-classifications) as prescribed in Schedule III to the Companies Act, 2013. 2.6.2. For the quarter ending December 31, 2016: (i) The submission of Ind-AS compliant financial results for the previous year ended March 31, 2016 is not mandatory. (ii) In case a listed entity chooses to provide Ind-AS comparatives for the period mentioned above to facilitate comparison, the same shall be subjected to limited review or audit. 2.6.3. For all the aforementioned three quarters, disclosure of the line item - Reserves(excluding Revaluation Reserves), as per Balance sheet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reconciliation of its equity for the previous year ended March 31, 2016, shall be provided in case the listed entity intends to provide the same while submitting the Unaudited/Audited Ind-AS compliant Half-Yearly Balance Sheet for the period ended September 30, 2016. (ii) Reconciliation of its net profit / loss as mentioned in the Unaudited/Audited quarterly financial results shall be provided only for the corresponding quarter of the previous year. 2.9. A listed entity may historically have a year-end other than 31st day of March, and may now be required to prepare financial statements for a period longer or shorter than the normal 12 month period for coinciding with 31st day of March as prescribed under Section 2 (41) of the Compani ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions. 6. This circular is available on SEBI website at http://www.sebi.gov.in under the category Circulars . Yours faithfully, Prasanta Mahapatra General Manager Corporation Finance Department prasantam@sebi.gov.in ANNEXURE I Format for Newspaper Publishing Purpose (Standalone / Consolidated) [See Regulation 47(1) (b) of the SEBI (LODR) Regulations, 2015] Sl. No. Particulars Quarter ending/Current Year ending Year to date Figures/Previous Year ending Corresponding 3 months ended in the previous year 1. Total Income from Operations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly/Annual Financial Results are available on the websites of the Stock Exchange(s) and the listed entity. (URL of the filings). b) 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. c) # - Exceptional and/or Extraordinary items adjusted in the Statement of Profit and Loss in accordance with Ind-AS Rules / AS Rules, whichever is applicable. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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