The Securities and Exchange Board of India (SEBI) issued SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) on 2 September 2015. Further, on 30 November 2015, SEBI through its circular (CIR/CFD/CMD/15/2015) prescribed the following formats for listed entities under the new Listing Regulations for publishing their financial results:  

• Formats for presenting the quarterly financial results including segment reporting by:   
  • Companies other than banks
  • Banks
    
  • Half-yearly statement of assets and liabilities 
• Format for limited review report and audit report.

Recently, SEBI issued a circular (reference No. CIR/CFD/FAC/62/2016) on 5 July 2016 (SEBI circular), providing   

• Certain relaxations in reporting of Ind AS financial results for first three quarters
• Format of financial results to be published in the newspapers.

The SEBI circular is applicable with immediate effect and also modifies certain requirements of the circular dated 30 November 2015.

This issue of IFRS note provides an overview of the relaxations and formats for the Ind AS compliant quarterly financial results.

To access the text of the SEBI circular, please click here.