Devoted Construction Limited has scheduled its 10th Annual General Meeting for September 30, 2026. The meeting will focus on adopting the standalone audited financial statements for FY26 and the re-appointment of a retiring director.

The decision was taken during a Board of Directors meeting held on September 7, 2026. The event is set to begin at 2:30 pm at the company's registered office in New Delhi. Shareholders will consider two ordinary business items during the proceedings.

Agenda Details

The primary item involves the adoption of the Standalone Audited Financial Statements for the financial year ended March 31, 2026. This includes reviewing the reports from the Board of Directors and the Auditors.

Director Re-appointment

Mr. Suresh Bohra (DIN: 00093343) retires by rotation at this meeting. Being eligible, he has offered himself for re-appointment as a Director liable to retire by rotation.

Mr. Bohra holds a commerce graduate degree with post-graduation in management. He brings over 25 years of experience in loan syndication, project financing, and equity placement since 1992. His leadership contributed to the company's diversification from securities trading to real estate.

Meeting Logistics

The Register of Members and Share Transfer Books will remain closed from September 23, 2026, to September 30, 2026, inclusive. Members entitled to attend may appoint a proxy, who need not be a member of the company. Proxy forms must be deposited at the registered office at least 48 hours before the meeting commences.

Corporate members sending authorized representatives must provide a certified true copy of the Board Resolution authorizing their attendance. Relevant documents referenced in the notice are available for inspection at the registered office on working days until the AGM date. The Notice of AGM and Annual Report 2025-26 are also available on the company's website.

Devoted Construction Limited reported a net loss of ₹10.52 lakh for the financial year ended March 31, 2026, widening from a loss of ₹4.98 lakh in the previous year. Revenue from operations for FY26 stood at ₹10 lakh, compared to nil in the corresponding period of the previous year. The company’s statutory auditors, M/s KRA & Associates, issued an audit report with an unmodified opinion on the standalone audited financial results.

The Board of Directors approved the standalone annual audited financial results for the financial year 2025-2026 at its meeting held on May 27, 2026. The financial statements were reviewed by the Audit Committee and are presented in accordance with Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The company noted that it is not required to apply Ind AS as its securities are listed on an SME exchange.

Financial Performance

The company reported a total expense of ₹20.52 lakh for FY26, a significant increase from ₹4.98 lakh in the previous year. This rise was primarily driven by changes in inventories of stock-in-trade, which amounted to ₹15.74 lakh, and employee benefit expenses of ₹3.60 lakh. Other expenses for the year were recorded at ₹1.18 lakh. Consequently, the loss before tax for the year was ₹10.52 lakh.

The basic and diluted earnings per share (EPS) for FY26 was reported at a loss of ₹0.35 per share, compared to a loss of ₹0.17 per share in FY25. The paid-up equity share capital remained constant at ₹300.11 lakh with a face value of ₹10 each.

Balance Sheet and Cash Flows

As of March 31, 2026, the company’s total assets stood at ₹14,894.31 lakh. Inventories constituted the largest portion of current assets at ₹14,765.90 lakh, while cash and cash equivalents increased to ₹30.59 lakh from ₹2.09 lakh in the previous year. Non-current assets included long-term loans and advances of ₹85.00 lakh.

On the liabilities side, shareholders' funds, comprising share capital and reserves, totaled ₹855.26 lakh. Long-term borrowings stood at ₹12,980.10 lakh. The cash flow statement revealed a net increase in cash and cash equivalents of ₹28.50 lakh during the year, driven primarily by net cash from financing activities amounting to ₹20.19 lakh.

Auditor’s Emphasis and Disclosures

The auditors included an emphasis of matter paragraph regarding the company’s FSI (Floor Space Index) inventories. The company has acquired saleable FSI inventories of ₹14,746.81 lakh at historical cost in an earlier year. Management expects to recover the carrying amounts of these inventories, with any additional adjustments to be accounted for at the time of disposal or realization.

Additionally, the company disclosed that an ICICI Bank account has been marked as frozen or lien for an amount of ₹9,96,58,051 by the Income Tax Department. The balances of debtors, creditors, and advances remain subject to confirmation.