Dhruv Consultancy Services Limited has secured a Letter of Acceptance (LOA) from Madhya Pradesh Road Development Corporation Limited (MPRDC) for a consultancy services contract worth ₹8.33 crore. The appointment is for the role of Independent Engineer for the Ujjain Jaora Access Controlled Greenfield Highway in Madhya Pradesh, operating on a Hybrid Annuity Mode. The LOA, numbered 691(2)/MPRD/Procu/2026, was issued on June 5, 2026, under Tender ID 2026_MPRDC_476427_1.

The contract was awarded to a joint venture comprising Dhruv Consultancy Services Limited, Intercontinental Consultants and Technocrats Private Limited, and MVK Infrabuild Private Limited. The total consideration for the project is ₹8,33,79,753, inclusive of all taxes except GST. The company is required to furnish a performance security deposit within 15 days of the LOA issuance and complete the contract agreement as per the bid document.

Project Details

The project scope involves providing consultancy services for the highway development. The duration of the project is set at 48 months, which includes 24 months for construction and an additional 24 months for the Defect Liability Period (DPL). The order has been awarded by a domestic entity and falls under general contract conditions.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that neither the promoter group nor group companies hold any interest in the entity awarding the contract, and the transaction does not constitute a related party transaction.

Dhruv Consultancy Services Limited reported a consolidated net loss of ₹2,848.43 lakh for the financial year ended March 31, 2026, a significant reversal from the net profit of ₹695.02 lakh recorded in the previous year. The company’s total revenue for FY26 fell to ₹4,395.60 lakh, a sharp decline from ₹10,352.06 lakh in FY25, driven by a substantial decrease in income from operations. The statutory auditors, M/S. S.N. Karani & Co., issued an audit report with an unmodified opinion on the financial results.

The decline in financial performance was attributed to a detailed reassessment of cost estimates related to revenue recognized on certain project management service contracts. According to the notes to the financial results, the revision in estimated margins arose due to upward revisions in project costs, reassessment of the stage of completion, extensions of time on projects, and policy changes by customers. Consequently, the company recognized a decrease in revenue of ₹2,553 lakh during the year, with a corresponding reduction in unbilled revenue, accounted for prospectively under Ind AS 8.

For the quarter ended March 31, 2026, the company reported a consolidated net loss of ₹7.40 lakh, compared to a net profit of ₹203.94 lakh in the same quarter of the previous year. Total revenue for Q4 FY26 stood at ₹859.29 lakh, down from ₹2,802.94 lakh in Q4 FY25. Expenses for the quarter totaled ₹1,827.15 lakh, slightly higher than the ₹1,825.35 lakh reported in the preceding quarter ended December 31, 2025.

The Board of Directors, in its meeting held on May 28, 2026, approved the audited standalone and consolidated financial results. Additionally, upon the recommendation of the Audit Committee, the Board approved the re-appointment of M/S. S. M. Kulkarni and Co. as internal auditors for FY27. The firm has been appointed for a term of one year, effective from April 1, 2026, to March 31, 2027.

The company’s balance sheet as of March 31, 2026, showed total consolidated assets of ₹11,866.28 lakh, a decrease from ₹14,350.19 lakh in the previous year. Total equity and liabilities stood at ₹11,866.28 lakh, with equity decreasing to ₹7,220.72 lakh from ₹10,350.35 lakh. The notes also confirmed that the interim stay granted by the Honorable High Court of Madras on the NHAI debarment order remains in force, maintaining the status quo.

Financial Summary for FY26