Dhruv Consultancy Services Ltd
Incorporated in 2003, Dhruv Consultancy Services Ltd is a Project Management Consultancy firm that specializes in providing infrastructural solutions[1]
- Market Cap ₹ 90.4 Cr.
- Current Price ₹ 47.7
- High / Low ₹ 158 / 45.0
- Stock P/E 13.4
- Book Value ₹ 55.9
- Dividend Yield 0.42 %
- ROCE 11.3 %
- ROE 8.19 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.85 times its book value
Cons
- Company has a low return on equity of 8.91% over last 3 years.
- Promoter holding has decreased over last 3 years: -18.2%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Commercial Services & Supplies Consulting Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9.03 | 9.46 | 15.12 | 30.44 | 43.39 | 56.11 | 48.74 | 63.40 | 75.06 | 81.18 | 81.73 | 101.96 | 89.86 | |
| 7.29 | 7.81 | 11.67 | 22.26 | 31.47 | 41.52 | 45.19 | 54.64 | 65.75 | 72.02 | 67.66 | 87.21 | 76.31 | |
| Operating Profit | 1.74 | 1.65 | 3.45 | 8.18 | 11.92 | 14.59 | 3.55 | 8.76 | 9.31 | 9.16 | 14.07 | 14.75 | 13.55 |
| OPM % | 19.27% | 17.44% | 22.82% | 26.87% | 27.47% | 26.00% | 7.28% | 13.82% | 12.40% | 11.28% | 17.22% | 14.47% | 15.08% |
| 0.14 | 0.29 | 0.04 | 0.02 | 0.93 | 0.55 | 0.64 | 0.58 | 0.51 | 1.13 | 0.68 | 1.56 | 1.52 | |
| Interest | 0.11 | 0.30 | 0.86 | 1.87 | 2.00 | 2.63 | 1.68 | 1.26 | 1.06 | 1.75 | 2.98 | 2.58 | 1.96 |
| Depreciation | 0.07 | 0.30 | 0.35 | 0.84 | 0.79 | 1.38 | 1.10 | 1.00 | 0.85 | 2.86 | 4.92 | 4.54 | 4.50 |
| Profit before tax | 1.70 | 1.34 | 2.28 | 5.49 | 10.06 | 11.13 | 1.41 | 7.08 | 7.91 | 5.68 | 6.85 | 9.19 | 8.61 |
| Tax % | 34.12% | 41.04% | 42.11% | 34.61% | 31.51% | 30.91% | 24.82% | 31.78% | 27.31% | 14.96% | 14.01% | 24.37% | |
| 1.13 | 0.79 | 1.32 | 3.59 | 6.89 | 7.68 | 1.06 | 4.83 | 5.76 | 4.82 | 5.90 | 6.95 | 6.75 | |
| EPS in Rs | 37.67 | 26.33 | 44.00 | 94.47 | 6.89 | 5.37 | 0.74 | 3.38 | 4.03 | 3.19 | 3.71 | 3.66 | 3.55 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 6.73% | 5.46% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 16% |
| 3 Years: | 11% |
| TTM: | -10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 50% |
| 3 Years: | 6% |
| TTM: | 14% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | -8% |
| 1 Year: | -66% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 10% |
| 3 Years: | 9% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.30 | 0.30 | 0.30 | 0.38 | 10.00 | 14.30 | 14.30 | 14.30 | 14.30 | 15.10 | 15.89 | 18.97 | 18.97 |
| Reserves | 3.11 | 3.90 | 5.22 | 9.53 | 6.08 | 30.34 | 31.29 | 25.28 | 31.54 | 41.94 | 50.39 | 84.53 | 87.05 |
| 2.23 | 4.60 | 7.73 | 14.29 | 19.62 | 13.24 | 10.23 | 10.46 | 12.02 | 18.95 | 20.31 | 17.79 | 23.60 | |
| 1.75 | 3.70 | 4.68 | 6.29 | 14.45 | 15.70 | 13.02 | 32.67 | 27.10 | 32.20 | 21.71 | 20.98 | 20.42 | |
| Total Liabilities | 7.39 | 12.50 | 17.93 | 30.49 | 50.15 | 73.58 | 68.84 | 82.71 | 84.96 | 108.19 | 108.30 | 142.27 | 150.04 |
| 0.93 | 1.18 | 3.04 | 5.47 | 6.94 | 7.59 | 5.49 | 4.73 | 6.72 | 16.73 | 13.64 | 10.94 | 9.41 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.15 | 0.00 |
| Investments | 0.16 | 0.01 | 0.01 | 0.01 | 0.07 | 0.66 | 0.79 | 0.64 | 0.07 | 0.02 | 0.05 | 0.08 | 0.08 |
| 6.30 | 11.31 | 14.88 | 25.01 | 43.14 | 65.33 | 62.56 | 77.34 | 78.17 | 91.44 | 94.60 | 131.10 | 140.55 | |
| Total Assets | 7.39 | 12.50 | 17.93 | 30.49 | 50.15 | 73.58 | 68.84 | 82.71 | 84.96 | 108.19 | 108.30 | 142.27 | 150.04 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.26 | 5.28 | -10.64 | -0.08 | 2.69 | 3.65 | 1.77 | -1.71 | -14.40 | ||||
| -3.10 | -1.47 | -1.65 | 1.51 | 0.23 | -6.04 | -6.43 | -2.75 | -3.09 | ||||
| 0.84 | -0.34 | 12.53 | -2.54 | -0.92 | 0.69 | 7.50 | 3.90 | 25.11 | ||||
| Net Cash Flow | 0.01 | 3.47 | 0.24 | -1.12 | 2.00 | -1.70 | 2.84 | -0.56 | 7.61 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 101.46 | 208.74 | 220.40 | 179.86 | 218.38 | 225.79 | 225.56 | 157.57 | 64.97 | 79.94 | 107.63 | 101.60 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 101.46 | 208.74 | 220.40 | 179.86 | 218.38 | 225.79 | 225.56 | 157.57 | 64.97 | 79.94 | 107.63 | 101.60 |
| Working Capital Days | 46.89 | 172.47 | 140.74 | 65.59 | 101.53 | 221.95 | 254.99 | 161.26 | 150.99 | 166.36 | 181.76 | 239.81 |
| ROCE % | 40.58% | 22.71% | 28.48% | 39.31% | 40.27% | 29.13% | 5.00% | 15.72% | 16.63% | 11.06% | 12.09% | 11.32% |
Documents
Announcements
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Regulation 30 - Project Updates
12h - Appointed by NHAI for DPRs of multiple Kerala road projects; Rs5,25,17,190 fixed fee; 9-month duration.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Officials of the company will be having a group meeting with the analysts/Investors (in general).
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Regulation 30 Project Updates Letter
25 Nov - Appointed NHAI supervision consultant for JNPT highway packages, Rs.4.50 crore, 60-month project, 44.5 km.
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Earnings Call Transcript
21 Nov - Q2 FY26 transcript: Q2 revenue INR19.40 crore; H1 INR40.80 crore; unexecuted orderbook INR200 crore; empanelments.
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Regulation 30- Project Updates
18 Nov - Awarded PMC contract for Awadh Underpass, Lucknow: Rs.36,29,040; 01/12/2025–31/05/2026.
Annual reports
Concalls
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Nov 2025TranscriptPPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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Jun 2024TranscriptPPT
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Jun 2024TranscriptPPT
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Mar 2024Transcript PPT
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Nov 2023TranscriptPPT
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Aug 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Aug 2022TranscriptPPT
Business Overview:[1][2]
DCSL provides consultancy services in the infrastructure sector, primarily catering to government bodies through tenders. The company offers design, engineering, procurement, construction, and integrated project management services across highways, bridges, tunnels, architectural and environmental engineering, and ports. Its offerings include DPR and feasibility studies, O&M works, project management consultancy, independent consultancy, project planning and design, traffic and transportation engineering, financial and technical audits, structural inspections, and techno-legal services.