In a significant shift aimed at enhancing financial transparency and investor confidence, the Ministry of Corporate Affairs (MCA) has mandated that all public limited companies must file quarterly financial disclosures, effective from April 1, 2026. This new requirement, aligned with global corporate governance standards, will now apply not only to listed companies under SEBI but also to unlisted public companies meeting certain thresholds in terms of turnover and capital structure. The objective is to ensure regular financial visibility, early risk detection, and better-informed investment decisions in the public market space.

As per the revised Companies (Accounts) Rules, 2014, public companies must prepare and file unaudited quarterly financial statements within 45 days of the end of each quarter, accompanied by management commentary on performance, risk factors, and compliance status. The disclosures must include key financial indicators such as revenue, profit before and after tax, earnings per share (EPS), and any material deviations from the previous quarter. These filings must be digitally submitted through the MCA21 portal and simultaneously published on the company’s website in an accessible section for public viewing.

To ensure compliance, the MCA has warned that failure to submit quarterly financials will attract penalties under Sections 129 and 134 of the Companies Act, 2013. Companies may also face closer scrutiny by the Registrar of Companies (RoC) and disqualification of directors for repeated non-compliance. The MCA has issued a circular providing standard reporting templates, digital filing guidelines, and FAQs to help companies transition smoothly. Corporate governance advocates and financial analysts have widely endorsed the move, calling it a vital reform that will bring more discipline, reduce information asymmetry, and align India’s public company disclosure framework with international best practices.