Dhruv Consultancy Services Ltd
NSE:DHRUV
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Dhruv Consultancy Services Ltd
Dhruv Consultancy Services Ltd. engages in planning and designing in the areas of transportation and infrastructure. The company is headquartered in Navi Mumbai, Maharashtra. The company went IPO on 2018-05-10. The company is engaged in designing, engineering, procurement, construction, and integrated project management services. Its business segments include Highways, which includes Consultancy for planning and construction of national highways; Architecture, which includes consultancy for architectural planning of smart cities and residential buildings; Bridges, which includes consultancy for planning, designing, construction and inspection of bridges and structures on national highway; Environment, which includes consultancy for planning and design of sewage treatment plants; Tunnels, which includes consultancy for planning and construction of tunnels, and Ports, which includes consultancy for planning, design and supervision of port development projects. The company offers services, such as operations and maintenance works, technical audits, independent consultancy, structural audit, and project planning.
Dhruv Consultancy Services Ltd. engages in planning and designing in the areas of transportation and infrastructure. The company is headquartered in Navi Mumbai, Maharashtra. The company went IPO on 2018-05-10. The company is engaged in designing, engineering, procurement, construction, and integrated project management services. Its business segments include Highways, which includes Consultancy for planning and construction of national highways; Architecture, which includes consultancy for architectural planning of smart cities and residential buildings; Bridges, which includes consultancy for planning, designing, construction and inspection of bridges and structures on national highway; Environment, which includes consultancy for planning and design of sewage treatment plants; Tunnels, which includes consultancy for planning and construction of tunnels, and Ports, which includes consultancy for planning, design and supervision of port development projects. The company offers services, such as operations and maintenance works, technical audits, independent consultancy, structural audit, and project planning.
Accounting impact: Management reported a noncash, one‑time accounting adjustment of approximately INR 30 crores to prior and future margin estimates under Ind AS that reduced reported earnings but did not involve cash outflow.
Revenue: Reported 9‑month revenue was INR 35.36 crores; management says underlying operations and project profitability remain positive.
Order book: Unexecuted order book stands at INR 256 crores, providing 2.5–3 years of revenue visibility; total order book (executed + unexecuted) cited ~INR 490 crores prior to the adjustment and ~INR 465 crores after.
New verticals: Company entered the aviation sector (Nagpur taxiway ~1,950 m) and is pursuing airports, plus international work in Ghana and Mozambique (receiving payments in dollars).
Near‑term pipeline: Bids worth ~INR 350 crores submitted; management expects a strike rate of roughly 20%–25%.
Cash & funding: Management says operating cash flows remain positive (cash collected this year ~INR 70–75 crores to date) and there is no immediate liquidity stress; short/long limits include INR 10.0 crore (HDFC) and INR 4.5 crore (PNB).
Governance & control: Management framed the adjustment as a governance improvement, said it strengthened internal controls and expects the accounting revision to be one‑time going forward.
