What is the difference?
Standalone results cover only the listed company itself. Consolidated results add in every company it controls, called subsidiaries, as if the group were one business.
How are group accounts put together?
The parent's and subsidiaries' sales, costs, assets and debts are added line by line. Sales and loans between group companies are then removed, so nothing is counted twice.[S2]
What does SEBI require?
Every listed company files standalone results each quarter. If it has subsidiaries, it must also file consolidated results.[S1]
Why can the two look so different?
Many Indian groups run large businesses through subsidiaries, often overseas arms. The standalone figures then leave out much of what the group earns and owes.
So check which basis a number uses before comparing it with another. A standalone figure and a consolidated one are not like for like.
Which basis do the examples use?
Cityfort uses consolidated numbers by default, as its methodology explains. Each example below notes the basis next to the value.