Dhruv Consultancy Services Ltd. (DHRUV) AI Stock Analysis

Dhruv Consultancy Services Ltd.

(NSE:DHRUV)

Select Model

Rating:40Underperform

Price Target:INR 18.00▼(-12.20% Downside)

Action:downgraded

Date:10/24/26

The score is primarily constrained by severe earnings deterioration and persistent cash burn. A relatively sound balance sheet provides some support, but bearish technical momentum and loss-based valuation further weaken the outlook.

Positive Factors

Moderate LeverageModerate leverage provides some balance-sheet flexibility compared with a highly indebted capital structure. Debt below equity may leave the company better positioned to fund operations or manage volatility, although continued losses could reduce that protection over time.

Negative Factors

Sharp Revenue and Profit CollapseThe FY2026 contraction represents a material break from the prior growth and profitability record, weakening earnings visibility and operating resilience. Large gross, operating, and net losses could limit reinvestment and make recovery dependent on a sustained improvement in business volumes.

Dhruv Consultancy Services Ltd. (DHRUV) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 378.76M
Dividend Yield: ―
Average Volume (3M): 1,108
Price to Earnings (P/E): -1.1
Beta (1Y): 0.93
Revenue Growth: -63.77%
EPS Growth: -537.92%
Country: India
Employees: 327
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Dhruv Consultancy Services Ltd. Business Overview & Revenue Model

Company Description

Dhruv Consultancy Services Limited operates as an infrastructure consulting firm in India, delivering a comprehensive array of services. Its expertise spans design, engineering, procurement, construction oversight, and integrated project management a...

How the Company Makes Money

Dhruv Consultancy Services Ltd. primarily earns revenue by delivering geospatial/surveying and mapping-related services to customers under project-based engagements and service contracts. Key revenue streams typically include: (1) fees for field surv...

Dhruv Consultancy Services Ltd. Financial Statement Overview

Summary

Financial performance is weak overall: the income statement score is 32 and cash flow score is 24, reflecting a sharp revenue decline, a large loss, and five consecutive years of negative free cash flow. The balance sheet is comparatively stronger, with a score of 61 and moderate leverage.

Income Statement

32Negative

Balance Sheet

61Positive

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	374.22M	429.04M	1.02B	815.01M	811.80M	750.65M
Gross Profit	-387.05M	-249.10M	748.36M	587.74M	571.28M	544.27M
EBITDA	-393.91M	-319.55M	157.78M	136.72M	102.89M	96.99M
Net Income	-348.41M	-284.84M	69.50M	58.95M	48.22M	57.56M
Balance Sheet
Total Assets	0	1.19B	1.42B	1.15B	1.08B	849.52M
Cash, Cash Equivalents and Short-Term Investments	57.55M	57.55M	277.85M	65.24M	70.86M	18.87M
Total Debt	0	280.56M	177.89M	203.15M	189.54M	120.17M
Total Liabilities	-722.07M	464.56M	387.63M	483.63M	511.47M	391.20M
Stockholders Equity	722.07M	722.07M	1.04B	662.74M	570.42M	458.31M
Cash Flow
Free Cash Flow	0	-88.92M	-181.75M	-46.08M	-53.82M	-25.81M
Operating Cash Flow	0	-41.96M	-144.04M	-17.13M	17.73M	36.51M
Investing Cash Flow	0	34.05M	-30.87M	-27.48M	-64.26M	-60.43M
Financing Cash Flow	0	9.20M	251.05M	38.98M	74.97M	6.93M

Dhruv Consultancy Services Ltd. Technical Analysis

Technical Analysis SentimentNeutral

Last Price20.50

Price Trends

50DMA21.90Negative

100DMA23.95Negative

200DMA28.62Negative

Market Momentum

MACD-0.53Positive

RSI47.72Neutral

STOCH31.99Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DHRUV, the sentiment is Neutral. The current price of 20.50 is below the 20-day moving average (MA) of 20.66, below the 50-day MA of 21.90, and below the 200-day MA of 28.62, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 47.72 is Neutral, neither overbought nor oversold. The STOCH value of 31.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DHRUV.

Dhruv Consultancy Services Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:DHRUV against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ENGINERSIN	79Outperform	INR 141.44B	18.05	―	1.99%	6.00%	66.97%
IN:RITES	63Neutral	INR 90.59B	21.72	―	4.27%	10.62%	8.14%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:MBECL	44Neutral	INR 11.69B	0.33	―	―	-21.46%	―
IN:RKEC	43Neutral	INR 466.62M	-0.90	―	―	-70.62%	-400.50%
IN:IL&FSENGG	41Neutral	INR 4.98B	46.98	―	―	-33.48%	―
IN:DHRUV	40Underperform	INR 388.81M	-1.08	―	―	-63.77%	-537.92%

* General Sector Average

Performance Comparison

IN:DHRUV and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:DHRUV	Dhruv Consultancy Services Ltd.	20.50	-31.25	-60.39%
IN:ENGINERSIN	Engineers India Limited	251.65	54.60	27.71%
IN:IL&FSENGG	IL&FS Engineering & Construction Co. Ltd.	38.00	10.00	35.71%
IN:MBECL	McNally Bharat Engineering Co. Ltd.	350.55	347.31	10719.44%
IN:RITES	RITES Ltd.	188.50	-50.62	-21.17%
IN:RKEC	RKEC Projects Ltd.	19.45	-47.86	-71.10%

Dhruv Consultancy Services Ltd. Corporate Events

Dhruv Consultancy Wins Rs 14.85 Crore Highway Supervision Mandate in Gujarat

Oct 19, 2026

Dhruv Consultancy Services Ltd. has secured a Letter of Acceptance to serve as Authority Engineer for consultancy and supervision of the upgrade of the Dholavira-Mauvana-Vauva-Santalpur section of NH-754K in Gujarat to a two-lane paved shoulder carri...

Dhruv Consultancy Sets September 24 Virtual AGM With E-Voting for Shareholders

Aug 27, 2026

Dhruv Consultancy Services Limited has scheduled its 23rd Annual General Meeting for September 24, 2026, to be held via video conferencing or other audio-visual means in line with guidance from the Ministry of Corporate Affairs and the securities reg...

Dhruv Consultancy Files Q1 FY27 Earnings Call Transcript With Exchanges

Aug 25, 2026

Dhruv Consultancy Services Ltd. is an India-based consultancy firm that provides professional services in the infrastructure and engineering domain. The company is listed on both BSE and the National Stock Exchange under the symbol DHRUV and maintain...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 24, 2026

Dhruv Consultancy Services Ltd. AI Stock Analysis