Hindustan Composites Clarifies Financial Results Format to NSE
Hindustan Composites Limited clarified its financial results format to NSE for the quarter ended June 30, 2026. The company explained its accounting treatment for joint venture losses as per IND AS 28, ensuring compliance with Schedule III and Indian Accounting Standards.
This is a routine clarification to a stock exchange regarding accounting treatment and format compliance. It does not introduce new business information or significant financial changes.
The announcement is a clarification to a regulatory body regarding financial reporting format. It does not contain information that would positively or negatively impact the company's stock price or operations.
Hindustan Composites Limited has provided clarification to the National Stock Exchange of India Limited (NSE) regarding its financial results for the quarter ended June 30, 2026. The clarification addresses an observation from the NSE that the submitted financial results were not in the prescribed format under Schedule III of the Companies Act, 2013, or Indian Accounting Standard, citing identical figures in standalone and consolidated Profit & Loss statements.
The company explained that the share of losses in its Joint Venture Company, Compo Advics (India) Private Limited, has exceeded the investment value. Consequently, in compliance with IND AS 28, Hindustan Composites has ceased to recognize its share of further losses in the consolidated results from the financial year 2021-22. For the quarter ended June 30, 2026, the company included item number 4, 'Share of Joint venture #', with a 'Nil' value, accompanied by a footnote (note number 3) in the consolidated Financial Results.
Furthermore, Hindustan Composites stated that the figures for Segment Assets and Segment Liabilities differ between the standalone and consolidated financial results. The company asserts that, based on these explanations, its submitted standalone and consolidated financial results are in conformity with the prescribed format under Schedule III of the Companies Act, 2013, and Indian Accounting Standards.
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Hindustan Composites Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Hindustan Composites Limited. Read the original for the full detail.