Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015. The Standalone Annual Audited Financial Results ....
Awaiting price reaction for this filing.
Devoted Construction Limited has filed its audited financial results for the half year and full year ended 31 March 2025. The company reported zero revenue from operations, with total expenses of Rs. 4.98 lakhs leading to a net loss of Rs. 4.98 lakhs, marginally better than the Rs. 6.01 lakhs loss in FY24. Loss per share was Rs. 0.17. The balance sheet shows long-term borrowings of Rs. 12,679 lakhs against shareholder equity of about Rs. 866 lakhs, and inventories of Rs. 14,782 lakhs (mostly FSI inventory held at historical cost). Cash and equivalents are negligible at Rs. 2.09 lakhs. Statutory auditor KRA & Associates issued an unmodified (clean) opinion but flagged three Emphasis of Matter items, most notably an ICICI Bank account frozen by the Income Tax Department for approximately Rs. 9.97 crores, with the company having filed a writ petition in the High Court.
This is a high-risk filing for shareholders — the company has no operating revenue, ongoing losses, almost no cash, and a bank account frozen for nearly Rs. 10 crores by tax authorities. Despite the unmodified audit opinion, the unresolved tax freeze and lack of revenue stream make the stock highly speculative and likely to face negative sentiment.