Dhruv Consultancy Services Limited (DCSL) announced that CARE Ratings Limited has reaffirmed its ratings for the company's bank facilities. The outlook for the Long Term Bank Facilities (₹8.50 crore) and Long Term / Short Term Bank Facilities (₹26.00 crore) has been revised from Positive to Stable. The Short Term Bank Facilities (₹5.00 crore) were also reaffirmed with a Stable outlook.

The reaffirmation of ratings is supported by DCSL's established track record, experienced promoters, strong client base, and healthy order book. The company also benefits from fluctuating but healthy profit margins, a comfortable capital structure, and good debt coverage indicators. However, the ratings are tempered by the company's small scale of operations, working capital intensity, a highly competitive and fragmented industry, and geographical concentration risk.

The revision in outlook to Stable reflects lower-than-expected growth in operations and profitability, and a slower increase in the order book compared to projections. CARE Ratings believes DCSL will sustain its operations and maintain a comfortable financial risk profile. The company's order book stood at ₹239.55 crore as of September 30, 2025, providing medium-term revenue visibility. Profitability margins have fluctuated, with PBILDT margins at 14.46% in FY25 and 13.99% in H1FY26. The company's leverage profile remains comfortable, with overall gearing at 0.17x as of March 31, 2025, supported by an equity infusion of ₹33.24 crore.