Dhruv Consultancy Services Ltd.

•

₹ 24.35-3.72%

2026-08-21

dhruvconsultancy.inBSE: 541302NSE: DHRUV

Market Cap₹ 47 Cr.

Current Price₹ 25

High / Low₹ 69 / 22

Stock P/E—

Book Value₹ 36

Price to Book1.29

Dividend Yield0.00 %

ROCE11.7 %

ROE8.2 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

PROS

Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Recent results are weak - TTM profit is down 582.2% versus prior year
Promoter holding has decreased over last 2 years: -9.7pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.81x)
Company has a low return on equity of 8.8% over last 3 years
Company has a low return on capital employed of 11.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

ConstructionCapital GoodsEngineering Consultancy

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	NBCC	87.30	31.74	23571.00	1.15	158.01	17.01	2259.53	-5.51	39.22	6.86
2.	CMPDI	237.30	0.00	16943.22	1.33	1162.70	—	4813.70	—	38.09	30.22
3.	RITES	216.70	24.95	10414.68	3.67	97.78	7.58	532.20	8.67	21.75	22.45
4.	DHRUV	24.67	0.00	46.79	0.00	-4.76	-398.06	15.55	-26.07	11.72	-23.24

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	11	23	23	25	20	33	22	28	21	19	-6	8	16
	9	19	18	22	17	29	18	23	18	17	24	17	20
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	0	0	0	0	0	0	1	0	0	0	0	0	0
Interest	1	1	1	1	1	1	1	0	0	0	0	0	1
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
	1	2	3	1	1	2	3	3	2	1	-31	-10	-4
Tax %	13.73%	10.95%	6.25%	49.41%	20.91%	14.86%	18.94%	36.84%	23.81%	-53.03%	-0.45%	99.17%	-5.99%
Net Profit	0	0	0	0	1	2	2	2	2	1	-31	-0	-5
	1	1	2	0	1	1	1	1	1	1	-16	0	-0
Equity Capital	15	15	15	16	16	19	19	19	19	19	19	19	19
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	15	15	15	16	16	19	19	19	19	19	19	19	19
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 11
: 9
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: 1
Tax %: 13.73%
Net Profit: 0
: 1
Equity Capital: 15
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 15
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 23
: 19
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: 2
Tax %: 10.95%
Net Profit: 0
: 1
Equity Capital: 15
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 15
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 23
: 18
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: 3
Tax %: 6.25%
Net Profit: 0
: 2
Equity Capital: 15
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 15
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 25
: 22
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: 1
Tax %: 49.41%
Net Profit: 0
: 0
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 20
: 17
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: 1
Tax %: 20.91%
Net Profit: 1
: 1
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 33
: 29
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: 2
Tax %: 14.86%
Net Profit: 2
: 1
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 22
: 18
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 1
Depreciation: 1
: 3
Tax %: 18.94%
Net Profit: 2
: 1
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 28
: 23
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: 3
Tax %: 36.84%
Net Profit: 2
: 1
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 21
: 18
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: 2
Tax %: 23.81%
Net Profit: 2
: 1
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 19
: 17
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: 1
Tax %: -53.03%
Net Profit: 1
: 1
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: -6
: 24
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: -31
Tax %: -0.45%
Net Profit: -31
: -16
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 8
: 17
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: -10
Tax %: 99.17%
Net Profit: -0
: 0
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 16
: 20
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 1
Depreciation: 1
: -4
Tax %: -5.99%
Net Profit: -5
: -0
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 19
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	TTM
	81	82	102	37
	72	68	87	79
Operating Profit	10	15	16	—
OPM %	13	18	16	—
Other Income	1	1	2	1
Interest	2	3	3	2
Depreciation	3	5	5	4
	6	7	9	-44
Tax %	15	14	24	21
Net Profit	5	6	7	-35
EPS	3	4	4	—
Dividend Payout %	0	13	5	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	3	4	4	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	3	4	4	—

Mar 2023

: 81
: 72
Operating Profit: 10
OPM %: 13
Other Income: 1
Interest: 2
Depreciation: 3
: 6
Tax %: 15
Net Profit: 5
EPS: 3
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2024

: 82
: 68
Operating Profit: 15
OPM %: 18
Other Income: 1
Interest: 3
Depreciation: 5
: 7
Tax %: 14
Net Profit: 6
EPS: 4
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2025

: 102
: 87
Operating Profit: 16
OPM %: 16
Other Income: 2
Interest: 3
Depreciation: 5
: 9
Tax %: 24
Net Profit: 7
EPS: 4
Dividend Payout %: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

TTM

: 37
: 79
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 2
Depreciation: 4
: -44
Tax %: 21
Net Profit: -35
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -21%
1 Year:: -60%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 9%
Last Year:: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-
Equity Capital	15	16	19
	40	50	85
	7	11	13
Trade Payables	16	9	11
	31	21	13
Total Liabilities	110	107	140
ASSETS	-	-	-
	17	14	11
	0	24	28
Cash & Bank	7	6	13
	86	63	88
Total Assets	110	107	140
Total Debt	13	16	15
Net Working Capital	44	46	80
Contingent Liabilities	19	26	26
Book Value per Share	36.82	41.71	54.57
Face Value	10.00	10.00	10.00
Total Debt	13	16	15
Net Working Capital	44	46	80
Contingent Liabilities	19	26	26
Book Value per Share	36.82	41.71	54.57
Face Value	10.00	10.00	10.00

Mar 2023

Equity Capital: 15
: 40
: 7
Trade Payables: 16
: 31
Total Liabilities: 110
: 17
: 0
Cash & Bank: 7
: 86
Total Assets: 110
Total Debt: 13
Net Working Capital: 44
Contingent Liabilities: 19
Book Value per Share: 36.82
Face Value: 10.00
Total Debt: 13
Net Working Capital: 44
Contingent Liabilities: 19
Book Value per Share: 36.82
Face Value: 10.00

Mar 2024

Equity Capital: 16
: 50
: 11
Trade Payables: 9
: 21
Total Liabilities: 107
: 14
: 24
Cash & Bank: 6
: 63
Total Assets: 107
Total Debt: 16
Net Working Capital: 46
Contingent Liabilities: 26
Book Value per Share: 41.71
Face Value: 10.00
Total Debt: 16
Net Working Capital: 46
Contingent Liabilities: 26
Book Value per Share: 41.71
Face Value: 10.00

Mar 2025

Equity Capital: 19
: 85
: 13
Trade Payables: 11
: 13
Total Liabilities: 140
: 11
: 28
Cash & Bank: 13
: 88
Total Assets: 140
Total Debt: 15
Net Working Capital: 80
Contingent Liabilities: 26
Book Value per Share: 54.57
Face Value: 10.00
Total Debt: 15
Net Working Capital: 80
Contingent Liabilities: 26
Book Value per Share: 54.57
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
	2	-2	-14
Cash from Investing	-6	-3	-3
Cash from Financing	7	4	25
	3	-1	8
Free Cash Flow	2	-4	-16
OCF / Net Profit	0.37	-0.29	-2.07
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	0.37	-0.29	-2.07
Cumulative 5-Year FCF	0	0	0

Mar 2023

: 2
Cash from Investing: -6
Cash from Financing: 7
: 3
Free Cash Flow: 2
OCF / Net Profit: 0.37
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.37
Cumulative 5-Year FCF: 0

Mar 2024

: -2
Cash from Investing: -3
Cash from Financing: 4
: -1
Free Cash Flow: -4
OCF / Net Profit: -0.29
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.29
Cumulative 5-Year FCF: 0

Mar 2025

: -14
Cash from Investing: -3
Cash from Financing: 25
: 8
Free Cash Flow: -16
OCF / Net Profit: -2.07
Cumulative 5-Year FCF: 0
OCF / Net Profit: -2.07
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-
EPS (₹)	3.12	3.71	3.66
Book Value (₹)	36.82	41.71	54.57
Dividend per Share (₹)	0.00	0.50	0.20
Cash EPS (₹)	5.09	6.81	6.06
PROFITABILITY	-	-	-
Operating Margin %	12.67%	17.22%	14.46%
Net Margin %	5.94%	7.21%	6.82%
ROE %	8.67%	9.68%	8.19%
ROCE %	10.54%	12.91%	11.72%
	4.40%	5.45%	5.63%
EFFICIENCY	-	-	-
Debtor Days	80	94	94
Inventory Days	0	0	0
Payable Days	0	0	0
	80	94	94
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.24x	0.23x	0.15x
Interest Coverage (x)	4.24x	3.30x	4.57x
	2.01x	2.32x	3.26x
GROWTH	-	-	-
Revenue Growth %	0.00%	0.68%	24.75%
Operating Profit Growth %	0.00%	43.39%	10.51%
Net Profit Growth %	0.00%	22.25%	17.90%
	0.00%	18.73%	-1.23%
VALUATION	-	-	-
P/E (x)	0.00x	32.06x	19.21x
P/B (x)	0.00x	2.85x	1.29x
Dividend Yield %	0.00%	0.42%	0.28%
	0.00x	13.48x	8.33x

Mar 2023

EPS (₹): 3.12
Book Value (₹): 36.82
Dividend per Share (₹): 0.00
Cash EPS (₹): 5.09
Operating Margin %: 12.67%
Net Margin %: 5.94%
ROE %: 8.67%
ROCE %: 10.54%
: 4.40%
Debtor Days: 80
Inventory Days: 0
Payable Days: 0
: 80
Debt to Equity (x): 0.24x
Interest Coverage (x): 4.24x
: 2.01x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 3.71
Book Value (₹): 41.71
Dividend per Share (₹): 0.50
Cash EPS (₹): 6.81
Operating Margin %: 17.22%
Net Margin %: 7.21%
ROE %: 9.68%
ROCE %: 12.91%
: 5.45%
Debtor Days: 94
Inventory Days: 0
Payable Days: 0
: 94
Debt to Equity (x): 0.23x
Interest Coverage (x): 3.30x
: 2.32x
Revenue Growth %: 0.68%
Operating Profit Growth %: 43.39%
Net Profit Growth %: 22.25%
: 18.73%
P/E (x): 32.06x
P/B (x): 2.85x
Dividend Yield %: 0.42%
: 13.48x

Mar 2025

EPS (₹): 3.66
Book Value (₹): 54.57
Dividend per Share (₹): 0.20
Cash EPS (₹): 6.06
Operating Margin %: 14.46%
Net Margin %: 6.82%
ROE %: 8.19%
ROCE %: 11.72%
: 5.63%
Debtor Days: 94
Inventory Days: 0
Payable Days: 0
: 94
Debt to Equity (x): 0.15x
Interest Coverage (x): 4.57x
: 3.26x
Revenue Growth %: 24.75%
Operating Profit Growth %: 10.51%
Net Profit Growth %: 17.90%
: -1.23%
P/E (x): 19.21x
P/B (x): 1.29x
Dividend Yield %: 0.28%
: 8.33x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.10	59.00	49.42	49.42	49.44	49.44	49.44	49.44	49.44
	1.04	2.73	3.12	2.14	1.38	2.33	2.34	2.23	2.17
	0.00	0.00	0.98	0.98	0.98	0.96	0.94	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	39.86	38.27	46.47	47.46	48.20	47.27	47.28	48.32	48.38

Jun 2024

: 59.10
: 1.04
: 0.00
Government: 0.00
: 39.86

Sep 2024

: 59.00
: 2.73
: 0.00
Government: 0.00
: 38.27

Dec 2024

: 49.42
: 3.12
: 0.98
Government: 0.00
: 46.47

Mar 2025

: 49.42
: 2.14
: 0.98
Government: 0.00
: 47.46

Jun 2025

: 49.44
: 1.38
: 0.98
Government: 0.00
: 48.20

Sep 2025

: 49.44
: 2.33
: 0.96
Government: 0.00
: 47.27

Dec 2025

: 49.44
: 2.34
: 0.94
Government: 0.00
: 47.28

Mar 2026

: 49.44
: 2.23
: 0.00
Government: 0.00
: 48.32

Jun 2026

: 49.44
: 2.17
: 0.00
Government: 0.00
: 48.38

Documents

Announcements

Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-18 - Dhruv Consultancy Services Limited has informed the Exchange about Link of Recording
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-13 - Dhruv Consultancy Services Limited has informed the Exchange about Schedule of meet

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Mar 2026
TranscriptPPTREC
Nov 2025
TranscriptPPTREC
Aug 2025
Transcript PPTREC