(1)

The listed entity shall prepare and submit un-audited or audited financial results on a half yearly basis in the format as specified by the Board within forty five days from the end of the half year to the recognised stock exchange(s).

[Provided that in case of entities which have listed their equity shares and debt securities, a copy of the financial results submitted to stock exchanges shall be provided to Debenture Trustees on the same day the information is submitted to stock exchanges.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/12, dated 7.5.2019 (w.e.f. 2.9.2015).]

(2)

The listed entity shall comply with following requirements with respect to preparation, approval, authentication and publication of annual and half-yearly financial results:

(a) Un-audited financial results shall be accompanied by limited review report prepared by the statutory auditors of the listed entity or in case of public sector undertakings, by any practising Chartered Accountant, in the format as specified by the Board:

(b) Half-yearly results shall be taken on record by the board of directors and signed by the managing director / executive director.

(c) The audited results for the year shall be submitted to the recognised stock exchange(s) in the same format as is applicable for half-yearly financial results.

(d) If the listed entity opts to submit un-audited financial results for the last half year accompanied by limited review report by the auditors, it shall also submit audited financial results for the entire financial year, as soon as they are approved by the board of directors.

(e) Modified opinion(s) in audit reports that have a bearing on the interest payment/ dividend payment pertaining to non-convertible redeemable debentures/ redemption or principal repayment capacity of the listed entity shall be appropriately and adequately addressed by the board of directors while publishing the accounts for the said period.

(3)

(a) The annual audited financial results shall be submitted along with the annual 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):

(b) 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 (a) shall be reviewed by the stock exchange(s) [***] [Deleted 'and the Qualified Audit Report Review Committee in the manner specified in Schedule VIII' by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).].

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

(d) The applicable format of [Statement on Impact of Audit Qualifications (for audit report with modified opinion)] [Substituted 'Form A and Form B' 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] [Inserted by Notification No. SEBI/LAD-NRO/GN/2016-17/001, dated 10.5.2016 (w.e.f. 2.9.2015).] 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).].

(4)

The listed entity, while submitting half yearly / annual financial results, shall disclose the following line items along with the financial results:

(a) credit rating and change in credit rating (if any);

(b) asset cover available, in case of non convertible debt securities;

(c) debt-equity ratio;

(d) previous due date for the payment of interest/ dividend for non-convertible redeemable preference shares/ repayment of principal of non-convertible preference shares /non convertible debt securities and whether the same has been paid or not; and,

(e) next due date for the payment of interest/ dividend of non-convertible preference shares /principal along with the amount of interest/ dividend of non-convertible preference shares payable and the redemption amount;

(f) debt service coverage ratio;

(g) interest service coverage ratio;

(h) outstanding redeemable preference shares (quantity and value);

(i) capital redemption reserve/debenture redemption reserve;

(j) net worth;

(k) net profit after tax;

(l) earnings per share:

(5)

[ The listed entity shall, within seven working days from the date of submission of the information required under sub-regulation (4), submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents.] [Substituted by Notification No. SEBI/LAD-NRO/GN/2019/12, dated 7.5.2019 (w.e.f. 2.9.2015).]

(6)

The listed entity which has listed its non convertible redeemable preference shares shall make the following additional disclosures as notes to financials:

(a) profit for the half year and cumulative profit for the year;

(b) free reserve as on the end of half year;

(c) securities premium account balance (if redemption of redeemable preference share is to be done at a premium, such premium may be appropriated from securities premium account):

(d) track record of dividend payment on non convertible redeemable preference shares:

(e) breach of any covenants under the terms of the non convertible redeemable preference shares:

(7)

The listed entity shall submit to the stock exchange on a half yearly basis along with the half yearly financial results, a statement indicating material deviations, if any, in the use of proceeds of issue of non convertible debt securities and non-convertible redeemable preference shares from the objects stated in the offer document.

(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.