About the Company:
Dhruv Consultancy Services (Incorporated in 2003) is an infrastructure consultancy company providing design, engineering, procurement, construction and integrated project management services for Highways, Bridges, Tunnels, Architectural, Environmental Engineering and Ports.
Company’s services includes Preparation of DPR (Detailed Project Report) and feasibility studies for infrastructure projects, Operations & Maintenance Works, Project Management Consultancy Services, Designing, Estimation, Traffic and Transportation Engineering, Financial Analysis, Technical audits, Structural Audit, Inspection of bridges and Techno Legal Services.
Company has provided their services to clientele such as Ministry of Road Transport and Highways, National Highways Authority of India, The City and Industrial Development Corporation of Maharashtra Ltd., Jawaharlal Nehru Port Trust, Maharashtra State Road Development Corporation, Mumbai Metropolitan Region Development Authority, Public Works Department, Maharashtra Tourism etc.
Till date Company has provided a range of consultancy services on 41 projects in the area of Highways, Bridges, Tunnels, Architectural, Environmental Engineering and Ports.
Company has employee base of over 313 employees, including 240 Engineers.
Company’s Business Verticals:
Lets Understand Company’s Role in providing each of the Services:
Pre-Tender Services.
In the pre-tendering stage, Company’s scope of services includes preparation of Detailed Project Report (“DPR”) for any new or upgradation of existing infrastructure project.
The DPR provides in-depth detailed design and detailed engineering of existing and proposed infrastructure systems with its Cost Estimates/BOQ, GIS details, Traffic Survey Reports, Topography Survey Reports, Geo Technical Investigation Reports, recommendations/suggestions etc.
Post-Tender Services.
In the post-tendering stage, they supervise the activities of contractor and act as “Authority Engineer”, “Independent Engineer” or “Project Management Consultants” on behalf of clients depending on the nature of the work.
Company’s scope of services includes Daily Work Supervision, Progress Monitoring, quality and quantity maintenance, certifying contractor’s bills, maintenance etc.
Advisory Services.
Advisory services are provided for Technical Audits, Structural Audits, Financial Engineering/Lenders Engineering Service, Techno Legal Services.
Design Services.
In the Design verticals, they provide the services of a. Preliminary/Detailed Design of Highways and Bridges and Proof checking of design of Highways done by another agency.
Joint Venture/MoU of the Company:
MoU with HSS Engineering Sdn Bhd:
In June, 2017 they entered into a MoU with HSS Engineering Sdn Bhd to provide the consultancy services to National Highway Authority of India for the preparation of Feasibility Study/Detailed Project Report for the project JNPT-Package-V.
MoU with IRClass Sysytems & Services Pvt. Ltd.
In August, 2016 they entered into a MoU with IRClass Sysytems & Services Pvt. Ltd. For the purpose of undertaking consultancy works awarded to them from Ministry of Road Transport & Highways, MSRDC & NHAI or any other organisation being awarded and to be awarded.
MoU with Consistent Engineering Consultants, Dubai.
In July, 2015 Company entered into a MoU with Consistent Engineering Consultants, Dubai for the consultancy works proposed to be taken up jointly relating to work/contracts of various Government/semi government/private organizations.
Management Team:
- Ms. Tanvi T. Auti (Designation: Managing Director)
- Mr. Pandurang B. Dandawate (Designation: Non-Executive Director)
- Ms. Jayashree P. Dandawate (Designation: Chairman and Executive Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Pandurang B. Dandawate | 39,47,360 | 0.38 |
| Jayashree P. Dandawate | 28,94,740 | 0.38 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake |
|---|---|---|
| Promoters | ||
| Pandurang B. Dandawate | 39.47 | 27.61 |
| Jayashree P. Dandawate | 28.95 | 20.25 |
| Promoter Group Entities | 31.58 | 22.08 |
| Total | 100% | 69.94% |
Objectives of the Issue:
- Repayment/ prepayment of certain indebtedness.
- To Meet Working Capital requirements.
- General Corporate Expenses.
- Issue Expenses.
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | 31st Dec 17 |
|---|---|---|---|---|---|---|
| Revenue | 5.10 | 9.16 | 9.74 | 15.15 | 30.46 | 33.52 |
| Net Profit | 0.34 | 1.12 | 0.78 | 1.32 | 3.08 | 5.40 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Dhruv Consultancy Services Ltd | 10 | 3.10 | 17.42 | 35.48% | 228.54 |
| Artefact Projects Ltd | 10 | 0.35 | 87.43 | 0.54 | 64.17 |
| MITCON Consultancy & Engineering Services Limited | 10 | 3.66 | 16.39 | 4.80 | 76.13 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 27th April 2018 |
| Issue Closes on:. | 2nd May 2018 |
| Issue Price | Rs.54 |
| Face Value | Rs.10 |
| Minimum Lot | 2000 |
| Minimum Investment | Rs.1,08,000 |
| Issue Constitutes | 30.05% |
| Issue Size | Rs.23.19 cr |
| Market Cap | Rs.77.19 cr |
| Listing at | BSE SME |
| Total Equity Shares Offered (Fresh) | 42,96,000 |
| Equity Shares Prior to the Issue | 1,00,00,000 |
| Equity Shares after the Issue | 1,42,96,000 |
Subscription Details: (will be Updated)
| (Subscription-Category-Wise (no. of times) Till time : 06:00 PM) | Shares Offered | 27/4 | 30/4 | 2/5 |
|---|---|---|---|---|
| HNI | 20,36,000 | 0.26 | 0.40 | 2.51 |
| Retail | 20,36,000 | 0.09 | 0.21 | 2.64 |
| Others | 2,24,000 | 0.00 | 0.00 | 1.87 |
| Employee | ——- | —– | —- | —- |
| TOTAL | 42,96,000 | 0.17 | 0.29 | 2.54 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 3.10 | 17.42 | 35.48% | 228.54 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long Term | 5% |
| Company Contact Info: |
|---|
| Dhruv Consultancy Services Limited 501, Pujit Plaza, Palm Beach Road, Sector – 11, Opp. K-Star Hotel, Near CBD Station, CBD Belapur, Navi Mumbai -400614, Maharashtra, India Tele Fax: +91 22 2757 0710 Email : info@dhruvconsultancy.in Website: www.dhruvconsultancy.in |
| Check IPO Allotment Status: |
|---|
Link InTime Website (Click on the below Link)https://linkintime.co.in/PublicIssue/ |
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| IPO Registrar Info: |
|---|
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai 400 083 Tel: +91 22 49186200 Investor grievance email: dcsl.ipo@linktime.co.in Website: www.linkintime.co.in |
| Lead Manager to the Issue: |
|---|
| HEM SECURITIES LIMITED 904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg, Elphinstone Road Mumbai-400 013, India. Tel :+91 22 4906 0000 Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com |
