Dhruv Consultancy Services Limited has informed the Exchange about Credit Rating
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings has reaffirmed the credit ratings on Dhruv Consultancy Services' bank facilities totalling ₹39.5 crore — Long-term facilities at CARE BBB-; Stable, Short-term facilities at CARE A3, and a combined Long-term/Short-term facility of ₹26 crore. While the actual ratings remain unchanged, the outlook has been revised from 'Positive' to 'Stable'. CARE attributed this to lower-than-expected growth in scale of operations and profitability, and a smaller-than-envisaged increase in the order book. The order book declined to ₹239.55 crore (Sept 2025) from ₹303.52 crore (Dec 2024), partly due to a temporary NHAI debarment that has since been stayed. Revenue fell to ₹40.81 crore in H1FY26 from ₹52.93 crore in H1FY25, though FY25 full-year revenue grew 25% to ₹101.96 crore with a stable leverage profile (overall gearing at 0.17x).
The actual rating stands reaffirmed, but the outlook downgrade from Positive to Stable signals that an upgrade is no longer expected in the near term, which is mildly negative for the stock. Investors should watch for order book recovery and a return to revenue growth in H2FY26.