Dear Stakeholders,
It is with great pleasure and pride that I address you today as we reflect upon the
remarkable achievements of Dhruv Consultancy Services ltd. during the financial year
2022-23. This year has been truly exceptional for us, marked by stable cash flow and an
unprecedented increase in order book, which stands at an impressive Rs. 270 Cr. This
milestone represents a significant leap forward for our company, as it is twice the value
of our average order book over the past three years. These orders are set to be completed
within the next three years, ensuring a stable revenue stream in the upcoming years.
I am pleased to announce that as an Authority Engineer, we have successfully supervised
and completed two prestigious projects. The first project was the Delhi Vadodara
Expressway Greenfield Alignment (NH-148N) section from Bawadi village to Ratlam under the
esteemed Bharatmala Pariyojana. The second project involved the construction of the
Ahmedabad Ahmednagar Elevated Structure, connecting Sakkar Chowk to SB Chowk on the Pune
Aurangabad road (NH-222). These projects not only showcase our expertise but also
contribute to the nation's infrastructure development. The Ahmednagar Elevated Structure
was completed ahead of schedule and bonus was given to the contractor for delivering
before the deadline.
Looking ahead, the upcoming year holds immense significance as it marks the final year
of the current government's tenure. Our clients share our enthusiasm and are eager to
complete ongoing projects, as well as award new projects under the prestigious Bharatmala
Pariyojana and National Infrastructure Pipeline (NIP). This presents us with an
opportunity to further strengthen our position in the industry and contribute to the
nation's infrastructure growth.
At present, Dhruv is a major player in Highway Infra Consultancy, primarily due to our
highest technical score. Our technical marks are based on three critical factors:
experience, the qualifications of our personnel, and our state-of-the-art equipment and
software bank. I am delighted to inform you that we consistently score 95+ marks out of
100, surpassing the industry average of 92-93. This remarkable achievement positions us as
the topmost consultancy firm in India.
Building upon this success, we eagerly anticipate receiving and working on more orders
in the years to come.
On the financial front, we have taken significant steps to fortify our position. We
have added Punjab National Bank (PNB) to our list of multiple banking partners, with an
exposure of Rs. 5.5 Cr. This addition complements our existing HDFC facility of Rs. 40 Cr,
further enhancing our financial stability. Additionally, we successfully raised Rs. 5 Cr
through preferential issue at an attractive rate. These financial endeavours bolster our
confidence in sustaining our growth trajectory.
Furthermore, I am pleased to inform you that we have received a long-awaited income tax
refund of Rs. 9 Cr, which had been overdue for the past two years. This, along with
fundraising initiatives added to our financial strength and stability. In line with our
commitment to expansion and diversification, we have submitted approximately
75 Expressions of Interest (EOIs) to enter the international consultancy market. We
have high hopes of securing substantial business from the international arena in the
coming years.
As we embark on this exciting journey, I would like to extend my heartfelt gratitude to
our stakeholders for their unwavering support and trust in our capabilities. It is your
belief in our vision and relentless pursuit of excellence that has propelled us to new
heights. I also extend my deepest appreciation to our dedicated team members, whose
unwavering commitment and hard work have been instrumental in our growth and success.
Looking ahead, we remain committed to our core values of integrity, innovation, and
excellence. We will continue to focus on delivering high-quality solutions that exceed
client expectations and contribute to the development of a robust infrastructure ecosystem
in India. Together, we will build a brighter future, where connectivity and sustainable
growth go hand in hand.
Thank you for your continued trust and support.
Warm regards,
P.B Dandawate
Chairman and Promoter, Dhruv Consultancy Services Ltd.