Dhruv Consultancy Services Limited (DHRUV.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-602.3%

-₹99.96

vs ₹19.90 price

Levered DCF

-₹162.14

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-1.85×	19.92×	29.96×	13.37×	15.43×	23.43×	107.03×	14.27×
P/B	0.73×	1.26×	2.66×	1.13×	1.94×	2.86×	2.48×	2.46×
P/S	1.23×	1.28×	2.17×	0.79×	1.18×	1.79×	2.32×	1.95×
EV / EBITDA	-2.51×	8.96×	14.36×	8.01×	10.35×	13×	31.57×	8.3×
Gross margin	-58.1%	73.4%	72.1%	70.4%	72.5%	67.7%	47.5%	62.5%
Operating margin	-87.1%	10.0%	11.2%	8.0%	75.9%	12.5%	5.0%	23.6%
Net margin	-66.4%	6.8%	7.2%	5.9%	7.7%	7.6%	2.2%	13.7%
Current ratio	2.28×	3.26×	2.27×	2.13×	1.98×	1.86×	3.01×	2.52×
Debt / equity	0.39×	0.17×	0.31×	0.33×	0.26×	0.26×	0.22×	0.3×
Interest coverage	-25.04×	4.98×	3.07×	3.7×	53.93×	6.31×	1.46×	5.04×
Dividend yield	0.0%	0.6%	0.2%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	11.2%	6.4%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-39.4%	6.7%	8.9%	8.5%	12.6%	12.2%	2.3%	17.2%
Return on invested capital	-27.4%	6.2%	8.9%	7.1%	69.9%	10.5%	3.0%	15.5%
Return on assets	-24.0%	4.9%	5.1%	4.5%	6.8%	5.8%	1.5%	10.4%
Free cash flow yield	-16.9%	-13.9%	-2.6%	-8.4%	-2.9%	2.2%	-1.1%	-11.6%
Earnings yield	-54.0%	5.3%	3.3%	7.5%	6.5%	4.3%	0.9%	7.0%
Enterprise value	₹800.6M	₹1.4B	₹2B	₹824.5M	₹1B	₹1.2B	₹1.2B	₹1.2B
Net debt / EBITDA	-0.86×	0.69×	1.45×	1.75×	1.18×	0.87×	2.42×	0.75×
Cash conversion cycle (days)	110	-43	124	67	419	76	333	255