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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Devoted Construction Ltd

Devoted Construction: Q2 FY27 Loss of Rs. (4.36) Lakhs, Bank Account Frozen

RESULTS ▼ Concern Flagged HIGH RISK
📅 Filed on BSE: 13 Nov 2026, 04:45 PM IST  ·  BSE ID: 136b40ae-98c3-4c35-a97f-a1e3eda50a14
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported a loss of Rs. (4.36) Lakhs and a bank account with Rs. 9.96 Crore remains frozen by tax authorities.
🤖 AI Summary
  • Board approved standalone Q2 FY27 financial results for the half year ended September 30, 2026.
  • Reported a Profit/(Loss) for the year after Tax of Rs. (4.36) Lakhs for Q2 FY27.
  • Revenue from operations stood at Rs. 20.00 Lakhs for the half year ended September 30, 2026.
  • ICICI Bank account holding Rs. 9,96,58,051 remains frozen by Income Tax Department, despite nil tax liability order.
  • Auditors issued an unmodified opinion on the standalone unaudited financial results for the half year ended September 30, 2026.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Profit/(Loss) for the Half year ended 30.09.2026 (after Tax)
Rs. (4.36) Lakhs
Not comparable — limited prior period data.
Revenue from operations for the Half year ended 30.09.2026
Rs. 20.00 Lakhs
Not comparable — limited prior period data.
ICICI Bank account frozen amount
Rs. 9,96,58,051
Paid Up Equity Share Capital (as of 30.09.2026)
Rs. 300.11 Lakhs
🏢 How This Affects the Company
📈
Business Impact
The freezing of an ICICI Bank account containing Rs. 9,96,58,051 impacts available working capital for daily operations and business continuity. The company reported minimal revenue from operations at Rs. 20.00 Lakhs for the period.
💰
Financial Impact
Devoted Construction reported a net loss of Rs. (4.36) Lakhs for Q2 FY27. The frozen bank account represents a significant portion of cash and cash equivalents, which stood at Rs. 1.07 Lakhs as of September 30, 2026, severely restricting financial liquidity.
⚙️
Operational Impact
Limited cash availability due to the frozen bank account and low revenue generation of Rs. 20.00 Lakhs suggests operational constraints. The company is in process of executing a Joint Venture/Collaboration Agreement related to FSI inventories.
⚠️
Risk Impact
The continued freezing of a bank account by the Income Tax Department, despite a nil tax liability order, presents a material financial and reputational risk. The reliance on expected recovery of FSI inventories also represents a business risk.
👥 What This Means For Shareholders
✅
Action Required
No action is required by shareholders based on this filing.
👤
Who Is Affected
All shareholders are affected by the company's Q2 FY27 net loss of Rs. (4.36) Lakhs and the continued freezing of a significant bank account holding Rs. 9,96,58,051.
🔍
Management Signal
Management is progressing with a Joint Venture/Collaboration Agreement for FSI Inventories and has received an unmodified audit opinion despite the Emphasis of Matter regarding the frozen bank account.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Update on unfreezing of ICICI Bank account by Income Tax Department.
Progress on Joint Venture/Collaboration Agreement for FSI Inventories.
Q3 FY27 financial results for revenue and profitability trends.
HIGH RISK Significant bank account freeze and sustained losses indicate high financial and operational risk.
💡 Investor Takeaway
Devoted Construction reported a net loss of Rs. (4.36) Lakhs for Q2 FY27. An ICICI Bank account holding Rs. 9,96,58,051 remains frozen by the Income Tax Department since April 2023, despite a nil tax liability order from March 2026.
⚖️ Strengths & Concerns

✅ Positives

  • Auditors issued an unmodified opinion on the standalone unaudited financial results for the half year ended September 30, 2026.
  • The company has FSI Inventories valued at Rs. 14,765.90 Lakhs, which management expects to recover through joint venture agreements.

⚠️ Concerns

  • The company reported a Profit/(Loss) for the year after Tax of Rs. (4.36) Lakhs for the half year ended September 30, 2026.
  • An ICICI Bank account with Rs. 9,96,58,051 is frozen by the Income Tax Department, despite a nil tax liability order issued March 18, 2026.
📅 Company Track Record
Previous filing on November 13, 2026, also reported a Q2 FY27 net loss of Rs. (4.36) Lakhs and the freezing of the Rs. 9,96,58,051 bank account. Devoted Construction Limited was incorporated in 2016.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What were Devoted Construction's standalone financial results for Q2 FY27?
Devoted Construction reported a Profit/(Loss) for the year after Tax of Rs. (4.36) Lakhs for the half year ended September 30, 2026 (Q2 FY27).
What was Devoted Construction's revenue from operations in Q2 FY27?
Revenue from operations for Devoted Construction stood at Rs. 20.00 Lakhs for the half year ended September 30, 2026.
Why is Devoted Construction's ICICI Bank account frozen and for what amount?
Devoted Construction's ICICI Bank account number 000705042840 has been marked frozen or lien for an amount of Rs. 9,96,58,051 by the Income Tax Department since April 28, 2023. The lien remains despite a nil tax liability order dated March 18, 2026.
Did the auditors provide an unmodified opinion for Devoted Construction's Q2 FY27 results?
Yes, M/s KRA & Associates, Chartered Accountants, issued an Audit Report with an unmodified opinion on the Standalone Un-Audited Financial Results for the Half Yearly ended September 30, 2026.
What is the status of Devoted Construction's FSI Inventories?
Devoted Construction holds saleable FSI Inventories of Rs. 14,765.90 Lakhs, recognized at historical cost. The company is in process of executing a Joint Venture/Collaboration Agreement for these inventories, and management expects to recover their carrying amounts.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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