Section 33: Financial results

Q: What does Section 33 of The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) deal with?

Section 33 LODR pertains to "Financial results". It is part of the The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a legislation enacted by the Parliament of India. Section 33 of The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) governs financial results. As verified on 19 May 2026.

Q: Is Section 33 LODR still in force?

Yes, Section 33 of the The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is currently in force across the Republic of India.

Q: What is धारा 33 LODR?

धारा 33 LODR is the Devanagari Hindi reference for Section 33 of the The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Section 33 of The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) governs financial results. As verified on 19 May 2026.

Q: What is Dhara 33 LODR?

Dhara 33 LODR is the Roman Hindi reference for Section 33 of the The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. "Dhara" means "Section" in Hindi. Section 33 of The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) governs financial results. As verified on 19 May 2026.

Q: How to cite Section 33 of The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015?

Cite as: "Section 33, The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR)" in legal briefs. For academic writing, use the BlueBook format: The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, § 33 (India).

Law on Tips Editorial Board

(1)

While preparing financial results, the listed entity shall comply with the following:

(a) The financial results shall be prepared on the basis of accrual accounting policy and shall be in accordance with uniform accounting practices adopted for all the periods.

(b) The quarterly and year to date results shall be prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 or Indian Accounting Standard 31 (AS 25/ Ind AS 34 - Interim Financial Reporting), as applicable, specified in Section 133 of the Companies Act, 2013 read with relevant rules framed thereunder or as specified by the Institute of Chartered Accountants of India, whichever is applicable.

(c) The standalone financial results and consolidated financial results shall be prepared as per Generally Accepted Accounting Principles in India:

(d) The listed entity shall ensure that the limited review or audit reports submitted to the stock exchange(s) on a quarterly or annual basis are to be given only by an auditor who has subjected himself to the peer review process of Institute of Chartered Accountants of India and holds a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India.

(e) The listed entity shall make the disclosures specified in Part A of Schedule IV.

(2)

The approval and authentication of the financial results shall be done by listed entity in the following manner:

(a) The quarterly financial results submitted shall be approved by the board of directors:

(b) The financial results submitted to the stock exchange shall be signed by the chairperson or managing director, or a whole time director or in the absence of all of them; it shall be signed by any other director of the listed entity who is duly authorized by the board of directors to sign the financial results.

(c) The limited review report shall be placed before the board of directors, at its meeting which approves the financial results, before being submitted to the stock exchange(s).

(d) The annual audited financial results shall be approved by the board of directors of the listed entity and shall be signed in the manner specified in clause (b) of sub-regulation (2).

(3)

The listed entity shall submit the financial results in the following manner:

(a) The listed entity shall submit quarterly and year-to-date standalone financial results to the stock exchange within forty-five days of end of each quarter, other than the last quarter.

(b) In case the listed entity has subsidiaries, in addition to the requirement at clause (a) of sub-regulation (3), the listed entity [shall] [Replaced 'may' by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).] also submit quarterly/year-to-date consolidated financial results [.] [Substituted 'subject to following:' by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).]

(c) The quarterly and year-to-date financial results may be either audited or unaudited subject to the following:

(ii) In case the listed entity opts to submit audited financial results, they shall be accompanied by the audit report.

(d) The listed entity shall submit [annual] [Inserted by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).] audited standalone financial results for the financial year, within sixty days from the end of the financial year along with the audit report and [Statement on Impact of Audit Qualifications (applicable only] [Substituted 'either Form A (for audit report with unmodified opinion) or Form B (' by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).] for audit report with modified opinion):

(e) The listed entity shall also submit the audited [or limited reviewed] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).] financial results in respect of the last quarter along-with the results for the entire financial year, with a note stating that the figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year-to-date figures upto the third quarter of the current financial year.

(f) The listed entity shall also submit as part of its standalone or consolidated financial results for the half year, by way of a note, a statement of assets and liabilities as at the end of the half-year.

(g) [ The listed entity shall also submit as part of its standalone and consolidated financial results for the half year, by way of a note, statement of cash flows for the half-year. [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).]

(h) The listed entity shall ensure that, for the purposes of quarterly consolidated financial results, at least eighty percent of each of the consolidated revenue, assets and profits, respectively, shall have been subject to audit or in case of unaudited results, subjected to limited review.

(i) The listed entity shall disclose, in the results for the last quarter in the financial year, by way of a note, the aggregate effect of material adjustments made in the results of that quarter which pertain to earlier periods.]

(4)

The applicable formats of the financial results and [Statement on Impact of Audit Qualifications (for audit report with modified opinion)] [Substituted 'Form A (for audit report with unmodified opinion) & Form B (for audit report with modified opinion)' by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).] shall be in the manner as specified by the Board [***] [Deleted 'from time to time; by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).].

(5)

For the purpose of this regulation, any reference to "quarterly/quarter " in case of listed entity which has listed their specified securities on SME Exchange shall be respectively read as "half yearly/half year " and the requirement of submitting `year-to-date' financial results shall not be applicable for a listed entity which has listed their specified securities on SME Exchange.

(6)

The [Statement on Impact of Audit Qualifications (for audit report with modified opinion)] [Substituted 'Form B' by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).] and the accompanying annual audit report submitted in terms of clause (d) of sub-regulation (3) shall be reviewed by the stock exchange(s) [***] [Omitted 'and Qualified Audit Report Review Committee in manner as specified in Schedule VIII' by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).].

(7)

[ ***.] [Omitted by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).]

(8)

[ The statutory auditor of a listed entity shall undertake a limited review of the audit of all the entities/ companies whose accounts are to be consolidated with the listed entity as per AS 21 in accordance with guidelines issued by the Board on this matter.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).]