Lockdown has resulted in total suspension of business across all listed cos barring few essential products/sectors.

June Qtr FY21 results for most cos will have costs (fixed operating & interest costs) with marginal/no revenues depending on when the lockdown is lifted.

1/6

SEBI should exercise its powers under listing regulations & exempt listed companies from declaring April to June 2020 results, and give an option to them to declare combined results for the entire period from April to September 2020.

2/6

Such a step will ensure a more normalized business reflection, considering the complex & unprecedented nature of the situation. Most companies that give quarterly guidance have/will refrain from giving any guidance for the immediate future given uncertainty

3/6

Such a proactive move by SEBI will ensure that unnecessary wealth destruction/volatility/loss of confidence of investors both domestic & global is avoided, as these results surely do not in any way reflect the true & fair view of the prospects of any business.

4/6

I think, SEBI would set a trend for other global regulators to follow & there maybe a coordinated move by many countries to curb volatility in markets with announcement of June qtr results. This also takes away the fundamental qsqt problem

5/6

Simply stated, June qtr nos may be merged with Sept. & those may be more realistic/normal results. This will help as individual/investors (shareholders) are a large number in each company & will not panic & also get a more informed view in Sept. 2020.

[Comments welcome]
6/6