Dhruv Consultancy Services Ltd (NSE:DHRUV)

Q2 2026 Dhruv Consultancy Services Ltd Earnings Call Transcript

Nov 17, 2025 / 07:30 AM GMT

Release Date Price: ₹50.76 (-0.41%)

Transcript

Key Points

Positve

Dhruv Consultancy Services Ltd (BOM:541302) achieved several important milestones in Q2 FY26, including empanelment as an ATCC Class 1 consultant and entry into the aviation sector.
The company has a strong team of over 400 professionals, with more than 75% being qualified engineers, enabling delivery of engineering excellence.
The company reported a steady business momentum with consolidated revenues of 19.40 crores and an EBITDA margin of 10.95% for Q2 FY26.
Dhruv Consultancy Services Ltd (BOM:541302) is expanding its sectoral presence beyond highways and bridges into airport infrastructure, enhancing its growth potential.
The company is optimistic about opportunities in India's infrastructure ecosystem, supported by sustained government investments in highways, bridges, railways, and airport connectivity.

Negative

The company experienced a fall in revenues by 40% in Q2 compared to the previous year, attributed to state and central government elections and a temporary debarment by NHAI.
EBITDA margins have reduced slightly, and the order book flow was slow due to external factors, though it is expected to pick up in the coming quarters.
The company faced a temporary debarment from NHAI due to issues with a JV partner, affecting its ability to secure new projects during that period.
There is a significant increase in debtor days from around 55-60 days to 100 days, attributed to lower certification of work and pending project clearances.
The international market expansion, particularly in Africa, has been slow, with a long turnaround time for projects and challenges in local registrations.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DHUR.NS - Dhruv Consultancy Services Ltd
Q2 2026 Dhruv Consultancy Services Ltd Earnings Call
Nov 17, 2025 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Q2F526 results conference call ofr Consultancy Services Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal line operator by pressing, then 0 on your touchstone phone.

Please note that this conference has been recorded.

I now hand the conference over to Mr. Harshel Ganshani from Kin Advisors.

Thank you and over to you, sir.

Yes, thank you.

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