Mandatory Filing of Financial Results in XBRL mode on BSE

The BSE Limited through its circular DCS/COMP/28/2016-17 dated March 30, 2017 has made mandatory filing of Financial Results through XBRL mode with effect from April 01, 2017.

The exchange observed that although filing of Financial Results (Regulation 33) in XBRL was not mandatory, several companies have been filing their results in XBRL using the Excel Utility provided, which is an encouraging sign.

Presently, the Financial results along with the limited review report/audit report is required to be filed within 30 minutes from the conclusion of the Board Meeting in pdf form through listing centre website.

Now, in addition to the above, with effect from April 01, 2017 onward, all listed entities with BSE, would be required to make their filings in respect of Financial Results (Regulation 33 and Regulation 52) in XBRL mode within 24 hours of submission of results in PDF mode. This requirement however, would not apply to Insurance Companies which can continue to make their filings for Financial Results in PDF mode only .

For the above purpose, the Excel Utility for filing financial results in XBRL mode would be made available for download in the Listing Centre portal from April 03, 2017.

Penalty: Filing of Financial Results (Regulation 33 and Regulation 52) in other mode would be treated as non-submission and may attract penalties as prescribed by SEBI in the SOP circular dated November 30, 2016.

Now the following disclosures are mandatory to be filed through XBRL mode on BSE:

1. Corporate Governance Report - Regulation 27
2. Shareholding Pattern - Regulation 31
3. Financial Results - Regulation 33 and 52
4. Voting Results -  Regulation 44

Comparison between earlier disclosure requirement and new disclosure requirement of Financial Results on BSE:

Earlier Disclosure Requirement:

The Financial results along with the limited review report/audit report is required to be filed within 30 minutes from the conclusion of the Board Meeting in pdf form through listing centre website

New Disclosure Requirement (Effective from April 01, 2017):

1. The Financial results along with the limited review report/audit report is required to be filed within 30 minutes from the conclusion of the Board Meeting in pdf mode through listing centre website.
2. The Financial results to be filed electronically through XBRL mode within 24 hours of submission of the results in pdf mode.

Click here to read the complete circular