CARE Ratings have reaffirmed the rating towards the respective bank facilities as availed by the
Dhruv Consultancy Services Limited.
Long term bank facilities has been reaffirmed to CARE BBB- with stable outlook.
CARE reaffirmed short term bank facilities to CARE A3.
The rating reaffirmation assigned to the bank facilities of Dhruv Consultancy Services Limited (DCSL) continue to derive strength from experienced promoters in the infrastructure consultancy services, long track record of projects executed during past, strong order book position with diversified services in the offering, healthy profitability margins and moderate financial risk profile.
The ratings, however, continue to be constrained by modest scale of operations, working capital intensive nature of operations coupled with high collection period, customer and geographical concentration with tender driven nature of business, reliance on large workforce and competition from existing players in infrastructure consultancy.
Dhruv Consultancy was trading at Rs27.50 per piece down by Rs2.20 or 7.41% on Sensex, at around 10:11 AM