Description

Comprehensive FAQ addressing financial results submission requirements for listed entities including IPO-listed companies, SME entities, and post-issue capital increase scenarios under SEBI LODR Regulations.

Summary

BSE has issued comprehensive FAQs clarifying requirements for submission of financial results under Regulation 33 of SEBI (LODR) Regulations, 2015. The circular addresses key scenarios including submission requirements for newly IPO-listed entities, SME companies submitting voluntary quarterly results, and SME entities whose paid-up capital exceeds ₹25 crores post-issue.

Key Points

  • Newly IPO-listed entities must submit financial results for the quarter/year immediately succeeding the period disclosed in the offer document within specified timelines or 21 days from listing date, whichever is later
  • Due dates: 45 days for Q1-Q3, 60 days for Q4/Annual results from quarter end
  • SME companies voluntarily submitting quarterly results must mandatorily provide half-yearly figures
  • SME companies with post-issue paid-up capital exceeding ₹25 crores must submit quarterly financial results as per Regulation 280 of SEBI (ICDR) Regulations, 2018
  • Half-yearly figures are mandatory in quarterly submissions regardless of voluntary/mandatory status

Regulatory Changes

No new regulatory changes introduced. This circular provides clarification and interpretation of existing Regulation 33 of SEBI (LODR) Regulations, 2015 and Regulation 280 of SEBI (ICDR) Regulations, 2018.

Compliance Requirements

For Newly IPO-Listed Entities:

  • Submit financial results for quarter/year immediately following the period covered in IPO offer document
  • Timeline: Within 45 days (Q1-Q3) or 60 days (Q4/Annual) from quarter end, OR 21 days from listing date, whichever is later
  • Example timeline provided: Q1 listing on Aug 10 requires submission by Aug 31 (21 days from listing); Q2 listing on Oct 22 requires submission by Nov 14 (standard 45-day deadline)

For SME Companies:

  • Companies voluntarily submitting quarterly results must include mandatory half-yearly figures
  • Required fields: 3-month current period, preceding 3 months, corresponding 3 months previous year, 6 months ended (mandatory), preceding 6 months ended (mandatory), year-to-date current period, year-to-date previous year, previous year ended

For SME Companies Exceeding ₹25 Crore Paid-Up Capital:

  • If allotment date increasing capital beyond ₹25 crores occurs after quarter end but before submission due date: quarterly results mandatory for that quarter
  • If allotment date occurs during the quarter and before submission due date: quarterly results mandatory for that period
  • Timeline examples provided showing various scenarios with specific dates

Important Dates

Standard Submission Deadlines:

  • Q1 (April-June): 45 days from June 30 = August 14
  • Q2 (July-September): 45 days from September 30 = November 14
  • Q3 (October-December): 45 days from December 31 = February 14
  • Q4/Annual (January-March): 60 days from March 31 = May 30

For IPO-Listed Entities:

  • Alternative deadline: 21 days from listing date (whichever is later than standard deadline applies)

Impact Assessment

Market Impact: Medium - Provides clarity on existing requirements rather than introducing new obligations

Operational Impact: High - Critical guidance for:

  • Newly listed companies planning their first post-IPO financial results submission
  • SME entities determining their reporting obligations
  • Companies undergoing capital structure changes post-listing

Compliance Impact: High - Clear timelines and examples reduce ambiguity in interpretation, helping entities avoid non-compliance penalties. Particularly important for SME segment entities transitioning from half-yearly to quarterly reporting requirements upon crossing ₹25 crore paid-up capital threshold.

Impact Justification

Critical guidance on mandatory financial results submission timelines and requirements affecting all listed entities, newly IPO-listed companies, and SME entities with specific compliance deadlines.