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Dhruv Consultancy Services Ltd.

BSE: 541302 Sector: Others
NSE: DHRUV ISIN Code: INE506Z01015
BSE 00:00 | 27 Sep 57.30 0.65
(1.15%)
OPEN

56.65

HIGH

59.75

LOW

55.80

NSE 00:00 | 27 Sep 57.05 0.20
(0.35%)
OPEN

59.90

HIGH

62.50

LOW

56.00

OPEN 56.65
PREVIOUS CLOSE 56.65
VOLUME 3055
52-Week high 84.65
52-Week low 30.00
P/E 16.75
Mkt Cap.(Rs cr) 82
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 56.65
CLOSE 56.65
VOLUME 3055
52-Week high 84.65
52-Week low 30.00
P/E 16.75
Mkt Cap.(Rs cr) 82
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dhruv Consultancy Services Ltd. (DHRUV) - Chairman Speech

Company chairman speech

LETTER TO THE SHAREHOLDERS

FY 21-22 proved to be a great year for the company as compared to the last two FY. Weare now working on projects of national significance and earning exponential profits. Onthis high note I would like to bring into focus the factors that worked in our favourbeautifully over the last two years.

If I were to talk about projects Dhruv Consultancy Services Ltd has reached a newhigh. From working on regional projects to now partnering with the MoRTH and NHAI oniconic works the journey has been nothing less than humbling.

While the first half of FY 21-22 saw the impact of the second wave of covid-19 thesame was covered up in the second half. FY 21-22 has shown 18% increase in sales 6.5%increase in EBIDTA and 19% increase in PAT.

Prestigious projects

Over the last few years we have rigorously worked on strengthening our capabilities.The results have been fruitful. We are now winning projects on national expressways sixlane corridors and have also been empanelled in the international consultancy market. Fora Mumbai based company having predominantly worked in Maharashtra for initial 16 years orso this is a major leap.

FY 21-22 saw a major shift in the share of our projects. We have started building astrong order book with the NHAI due to which we are now working on some of the mosticonic highway projects in the country. This is proving to be a boon for our investors.

Now we have also started getting works in bulk outside Maharashtra. We are doing majorprojects that are also a part of economic corridors - Delhi Saharanpur access controlledgreenfield project - part of the Delhi - Dehradun Economic Corridor and Amritsar Bhatindagreenfield project - part of the Amritsar - Jamnagar Economic Corridor to name a few.

We have been awarded projects worth INR 95.5 crore of consultancy fees and 1059 kms oftotal project length as on date.

GROWTH

Domestic markets

As I have mentioned in the beginning of my letter we have been working rigorously tostrengthen our technical prowess. Post pandemic we have built up our credentials brick bybrick in the last 2 years.

We have been hiring retired government officers to strengthen our technical expertiseas a team. This is bearing fruits as we are now able to score 95+ marks in technicalevaluation of mega highway projects in India.

Due to this we have started winning more projects and that too with higher marginswhich is reflected in the financials of FY 21-22.

Our growing technical expertise is now reflecting in our scores too. In 2018-19Dhruv's technical score in bids was 88 to 90 which made us eligible only for DPR workslater 2-lane supervision works. Today our scores have reached 94 to 96 which is a hugetransition making us qualified to take up 6-lane and 8-lane expressway projects.

Dhruv Consultancy Services is now entering International markets. We are still testingthe waters and have been empanelled on a couple of projects abroad.

Evolve and Accelerate

As per the NIP published by the Ministry of Finance COI the road sector has beenallotted INR 1964 lakh crores from FY 19-20. For faster growth to meet the target of $5trillion economy by 2025 more supply-side reforms are needed. Creating new and upgradingexisting infrastructure will be key to raising India's competitiveness and achieving thistarget. It will specially be critical for the success of the Make in India programme asmanufacturing competitiveness critically depends on infrastructure. Improvedinfrastructure capacities also create efficiency gains through improved logistics andnetworks which would improve the competitiveness of the economy. This can help kick in avirtuous cycle of higher investments growth and employment generation in the economy.

Around INR 8 lakh crores worth of contract and consultancy works have been awarded tillMarch'22 by the COI under the allotment in NIP. While the speed of allotment andconversion into projects was slow during the first 3 years due to covid but that gap isnow being covered up swiftly. The government is determined to award and spend theremaining outlay of INR 12 lakh crore in the next 2 financial years which puts the roadinfrastructure sector in a golden sweet spot! The consultancy sector is approximately 5%of the budgetary costs. This comes to around INR 60000 crore worth of consultancy jobsbeing awarded in the next 2 years.

High technical scores reduced competition due to the bid capacity clause of NHAI andDhruv Consultancy being the only BSE and NSE main board listed company our growth hasgreat potential in the next 2 years.

While we are aiming for stars and chasing competitive targets your continued supportand faith in us will only make our resolve stronger.

Wishing you good health and happiness.

Warm Regards

Pandurang B. Dandwate

Promoter Dhruv Consultancy Services Ltd.

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