Parliament Question: Rationalisation of Mandatory Publication of Financial Results in Newspaper

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO. 3586 TO BE ANSWERED ON 10.08.2026/ Shravana 19, 1948 (Saka) RATIONALISATION OF MANDATORY PUBLICATION OF FINANCIAL RESULTS IN NEWSPAPER 3586. SHRI JAGANNATH SARKAR Will the Minister of FINANCE be pleased to state: (a) whether the Government is aware that under Regulation 47(1) and 47(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, framed under Sections 11, 11A and 30 of the SEBI Act, 1992, listed companies are required to publish financial results in at least one English national daily and one regional language newspaper within forty-eight hours of approval by the Board of Directors, if so, the details thereof; (b) whether the Government has examined the continued relevance of such mandatory newspaper publication requirements in the present digital era, when full financial statements are already made available on the company websites and stock exchange portals immediately after filing under Regulation 33, if so, the details thereof; and (c) whether the Government, in consultation with SEBI, intends to review or rationalise these delegated regulatory provisions to reduce compliance costs and operational burden on companies, particularly in light of the QR-code-based and online disclosure mechanisms already prescribed and if so, the details thereof? ANSWER MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY) (a) to (c): Securities and Exchange Board of India (SEBI) has informed that prior to SEBI’s amendment to the Regulation 47(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”), effective from December 13, 2024, every listed entity was required to publish detailed financial results in prescribed format in at least one English language national daily newspaper circulating in the whole or substantially thewhole of India and in one daily newspaper published in the language of the region, where the registered office of the listed entity is situated within forty-eight hours of the conclusion of the meeting of Board of Directors at which financial results were approved. Pursuant to the amendment, which rationalised the publication requirement, listed entities are required to publish an advertisement only containing a Quick Response code (QR Code) and the details of the webpage where complete financial results of the listed entity is accessible to the investors. Pursuant to the amendment, publishing the detailed financial results in at least one English language national daily newspaper and in one daily newspaper published in the language of the region is made optional. The aforesaid advertisement containing QR Code and details of the webpage is required to be published, within 48 hours of conclusion of Board meeting in which the financial results were approved. In terms of the Regulation 47(4) of the LODR, the aforesaid advertisement containing QR Code and details of the webpage is required to be published in at least one English language national daily newspaper and in one daily newspaper published in the language of the region, where the registered office of the listed entity is situated. Further, this requirement is not applicable in case of listed entities which have listed their specified securities on Small and Medium Enterprises (SME) Exchange. ***