List of the Companies follow Schedule III of companies Act 2013

The Companies Act, 2013, mandates that all companies incorporated in India follow Schedule III while preparing their financial statements. Schedule III provides the format and structure for presenting the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Notes to Accounts.

1. Private Limited Companies

All private limited companies registered under the Companies Act, 2013, must prepare their financial statements as per Schedule III, ensuring proper financial disclosures and compliance with Indian accounting norms. These include:

• Small Private Limited Companies

• Large Private Limited Companies

• Subsidiary Private Companies of Public Limited Companies

2. Public Limited Companies

Public Limited Companies, which raise capital from the public and are subject to stricter financial regulations, must follow Schedule III. These include:

• Listed Public Companies (traded on stock exchanges like NSE & BSE)

• Unlisted Public Companies (not listed but still follow corporate governance norms)

3. One Person Companies (OPCs)

• These are companies with a single shareholder.

• OPCs must follow Schedule III while preparing their financial statements, ensuring they comply with legal financial reporting requirements.

4. Holding and Subsidiary Companies

• Holding Companies (which control one or more subsidiaries) must consolidate financial statements per Schedule III.

• Subsidiary Companies (controlled by holding companies) also adhere to Schedule III.

5. Associate Companies

Associate companies (where a parent company holds significant influence but not full control) must present financial reports in the prescribed format of Schedule III.

6. Section 8 Companies (Non-Profit Organizations – NPOs)

Section 8 Companies, which are non-profit organizations engaged in charity, education, and social welfare, must follow Schedule III while maintaining transparency in financial reporting.

7. Government Companies

Companies where the Central or State Government holds a majority stake must comply with Schedule III for financial disclosure and corporate governance.

8. Foreign Companies Operating in India

Foreign subsidiaries or joint ventures registered under Indian law must follow Schedule III to align with Indian financial reporting standards.

9. Manufacturing Companies

Companies involved in production, processing, and manufacturing of goods in sectors like automobiles, textiles, pharmaceuticals, FMCG, and heavy machinery must prepare their financial statements per Schedule III.

10. Service Sector Companies

Companies engaged in IT services, banking, consulting, hospitality, healthcare, and telecommunications must follow Schedule III for financial reporting.

11. Real Estate and Infrastructure Companies

Real estate developers and infrastructure firms involved in construction, housing, highways, and commercial projects comply with Schedule III while preparing their financial reports.

12. Energy and Power Companies

Companies in renewable energy, electricity generation, oil and gas, and mining must adhere to Schedule III in their financial disclosures.

13. Trading and Retail Companies

Companies engaged in wholesale, retail, and e-commerce, such as FMCG distributors, supermarket chains, and online platforms, must comply with Schedule III.

14. Pharmaceutical and Healthcare Companies

Companies in drug manufacturing, hospitals, medical device production, and biotech research must present financial statements per Schedule III.

15. Education and Research Institutions (Private Limited Companies)

Universities, private schools, and educational firms operating as corporate entities must prepare financial statements as per Schedule III.

16. Entertainment and Media Companies

Companies involved in film production, digital media, publishing, and broadcasting follow Schedule III for financial reporting.

17. Transport and Logistics Companies

Companies offering freight services, warehousing, aviation, and shipping must comply with Schedule III for financial transparency.

Exceptions: Companies Not Following Schedule III

Some companies are exempted from following Schedule III, such as:

1. Banking Companies (Regulated by RBI and follow Banking Regulation Act, 1949)

2. Insurance Companies (Regulated by IRDAI and follow Insurance Act, 1938)

3. Non-Banking Financial Companies (NBFCs) (Regulated by RBI and follow a separate format)