As part of tightening disclosure norms for listed entities, market regulator SEBI has made it mandatory for companies to announce their fourth quarter numbers along with audited annual results.
Although it is mandatory for companies to file quarterly figures along with annual results with stock exchanges, some companies had only been filing annual numbers.
“Companies, which opt to submit audited annual results within 60 days of the end of financial year in lieu of last quarter results, shall also submit the last quarter results along with the audited annual results,” the Securities and Exchange Board of India has said.
The SEBI board met here yesterday and decided on a slew of measures to help retail investors take well-informed decision before investing in stock market.
It has also asked companies to report the comparative figures of the immediate preceding period at the time of publishing the results of any quarter.
“In order to give a better comparative picture of the quarterly financial results, listed companies shall disclose figures in respect of immediately preceding quarter as well in addition to the existing requirements,” SEBI said.