Dhruv Consultancy Services Ltd. (DHRUV) AI Stock Analysis

• Market Cap: ₹669.52M
• Dividend Yield: 0.42%
• Average Volume (3M): 3.34K
• Price to Earnings (P/E): 9.9
• Beta (1Y): 1.13
• Revenue Growth: -9.83%
• EPS Growth: -5.90%
• Country: IN
• Employees: 327
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 0.53
• Shares Outstanding: 18,966,570
• 10 Day Avg. Volume: 1,027
• 30 Day Avg. Volume: 3,337
• PEG Ratio: 10.48
• Price to Book (P/B): 1.26
• Price to Sales (P/S): 1.28
• P/FCF Ratio: -7.18
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹37.00 ▼(-22.92% Downside)

Dhruv Consultancy Services Ltd. has a balanced financial performance with strong revenue growth but faces challenges in cash flow management. The technical analysis indicates a bearish trend, while the valuation suggests the stock is fairly priced. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Revenue growth trajectory

A reported 25% revenue increase signals durable demand or successful contract wins. Sustained top-line growth supports higher capacity utilization and reinvestment, strengthening the company's ability to fund operations and strategic initiatives over the next 2–6 months.

Margin sustainability (gross & EBIT)

Healthy gross and EBIT margins demonstrate durable operational efficiency and cost control. Margin resilience provides a buffer against input cost swings, helps preserve operating cash flow, and supports medium-term profitability even if top-line growth moderates.

Balance sheet strength

A strong equity base and modest leverage indicate financial stability and flexibility. This conservative capital structure supports access to financing, cushions downturns, and enables measured reinvestment or project bidding over the coming months without undue refinancing stress.

Negative Factors

Cash flow challenges

Negative free cash flow and weak conversion of net income into cash create liquidity pressure and constrain internal funding for capex or working capital. Over 2–6 months this can force reliance on external financing, increasing financing costs and operational risk.

Net profit margin weakness

A gap between healthy gross/EBIT margins and weaker net margin suggests non-operating costs, interest, or tax drag. Persistent net margin weakness reduces retained earnings and limits the company’s ability to self-fund growth or absorb shocks in the medium term.

Inconsistent revenue trend

Conflicting revenue metrics indicate volatility or reporting inconsistencies, complicating forecasting and budgeting. This uncertainty raises execution and planning risk for management and investors, making reliable medium-term projections more difficult over the next several months.

Dhruv Consultancy Services Ltd. Business Overview & Revenue Model

Company Description

Dhruv Consultancy Services Limited, an infrastructure consultancy company, provides design, engineering, procurement, construction, and integrated project management services for highways, bridges, tunnels, architectural, environmental engineering, and ports in India. The company offers services, which include the preparation of detailed project report and feasibility studies for infrastructure projects; operations and maintenance works; project management consultancy services; and independent and authority's engineer, project planning, designing, estimation, traffic and transportation engineering, financial analysis, technical audit, structural audit, bridges inspection, and techno legal services. The company was incorporated in 2003 and is headquartered in Navi Mumbai, India.

How the Company Makes Money

Dhruv Consultancy Services Ltd. generates revenue primarily through its consulting services, which are structured on a fee-for-service model. The company charges clients based on the scope and duration of projects, often adopting a retainer model for long-term engagements. Key revenue streams include project-based fees, ongoing advisory retainers, and performance-based incentives tied to the success of implemented solutions. DHRUV also benefits from strategic partnerships with technology providers and industry leaders, enabling it to offer integrated solutions that enhance client value. Additionally, the firm may generate revenue from training programs and workshops aimed at upskilling client teams, further diversifying its income sources.

Dhruv Consultancy Services Ltd. Financial Statement Overview

Summary

Dhruv Consultancy Services Ltd. shows strong revenue growth and efficient cost management, but faces challenges with net profit margin and cash flow, which impact overall financial stability.

Income Statement

Dhruv Consultancy Services Ltd. demonstrates a strong revenue growth trajectory, with a notable increase of 25% in the latest year. The company maintains healthy gross and EBIT margins, indicating efficient cost management and operational effectiveness. However, the net profit margin could be improved, as it lags behind the gross profit margin, suggesting potential areas to optimize costs or enhance financial strategies.

Balance Sheet

The company showcases a solid equity position with a favorable equity ratio, highlighting financial stability. The debt-to-equity ratio is manageable, reflecting prudent leverage usage. However, there is room for improvement in enhancing the return on equity, which remains moderate, indicating that the company may leverage its equity base more effectively to boost profitability.

Cash Flow

Cash flow analysis reveals challenges, particularly with negative free cash flow in recent periods, posing risks to liquidity management. The operating cash flow to net income ratio suggests inefficiencies in converting net income into cash flow. Despite these challenges, the company has shown resilience with financing strategies to support operational needs.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.03B	1.02B	815.01M	811.80M	750.65M	633.94M
Gross Profit	784.80M	748.36M	587.74M	571.28M	544.27M	429.40M
EBITDA	165.37M	157.78M	136.72M	102.88M	96.99M	93.32M
Net Income	76.25M	69.03M	58.95M	48.22M	57.56M	48.35M
Balance Sheet
Total Assets	0.00	1.42B	1.15B	1.08B	849.52M	827.11M
Cash, Cash Equivalents and Short-Term Investments	131.59M	277.85M	65.24M	70.86M	18.87M	65.18M
Total Debt	0.00	177.89M	203.15M	189.54M	120.17M	104.61M
Total Liabilities	-1.04B	387.63M	483.63M	511.47M	391.20M	431.39M
Stockholders Equity	1.04B	1.04B	662.74M	570.42M	458.31M	395.72M
Cash Flow
Free Cash Flow	0.00	-181.75M	-46.08M	-53.82M	-25.81M	24.42M
Operating Cash Flow	0.00	-144.04M	-17.13M	17.73M	36.51M	26.93M
Investing Cash Flow	0.00	-30.87M	-27.48M	-64.26M	-60.43M	2.25M
Financing Cash Flow	0.00	251.05M	38.98M	74.97M	6.93M	-9.23M

Dhruv Consultancy Services Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 48.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DHRUV, the sentiment is Negative. The current price of 48 is above the 20-day moving average (MA) of 40.70, above the 50-day MA of 45.41, and below the 200-day MA of 57.61, indicating a bearish trend. The MACD of -3.09 indicates Positive momentum. The RSI at 21.78 is Positive, neither overbought nor oversold. The STOCH value of 2.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DHRUV.

Dhruv Consultancy Services Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DHRUV	63 Neutral	₹669.52M	9.93	―	0.42%	-9.83%	-5.90%
RKEC	59 Neutral	₹1.02B	6.52	―	―	-12.26%	-36.87%
AKASH	57 Neutral	₹414.31M	26.94	―	―	51.76%	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
GAYAPROJ	54 Neutral	₹2.30B	1.50	―	―	―	―
SADBHIN	44 Neutral	₹1.20B	-1.85	―	―	4.63%	67.17%
MBECL	42 Neutral	₹557.77M	<0.01	―	―	-36.07%	―

Dhruv Consultancy Services Ltd. Corporate Events

Dhruv Consultancy Files SEBI Dematerialisation Compliance Certificate for Q3 FY2025-26

Dhruv Consultancy Services Limited has submitted to BSE and NSE a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025, confirming that all physical securities received for dematerialisation have been duly verified, mutilated, cancelled, and replaced in the records with the depositories as registered owners within prescribed timelines. The company’s registrar and transfer agent, MUFG Intime India Private Limited, has also certified that securities received for dematerialisation during the quarter were appropriately accepted or rejected, that the underlying securities are listed on the relevant stock exchanges, and that all register-of-members updates were completed on time, underscoring Dhruv Consultancy’s adherence to regulatory requirements in handling its shareholders’ demat requests.