DHRUVCONSULTANCY / Q3-FY26 / claim-ledger

Audit the questions that mattered.

Dhruv Consultancy Services · Analyst questions, management answers, and the quality of the response where the ledger is available.

Research layer active

ConCallIQ research layer

Signal, with the source still visible.

Use the controls below to narrow the view, then follow the evidence into the next layer of context.

NegativeQ3-FY26 · 2026-02-10Back to quarter ↗

Questions audited

12

Answered directly

50%

Numeric claims

0

Consistency

—

Question ledger

What was answered, and how?

Sakit Kapoor · Kapoor and Company

partial

Explain the nature of the accounting reversal and why it was done now.

this reported loss is primarily due to change in accounting estimates... certain stages of completion have been changed... this adjustment is just a refinement of the estimate... no impact overall in the order book as such.

Sakit Kapoor · Kapoor and Company

partial

How is revenue recognized and what is the split between billed and unbilled?

we recognize revenue in two types one is a direct GST based revenue... second is unbilled revenue... for the 9 months post reversal what is the billed part and unbilled... I will not be able to disclose the numbers but in Q4 there will be a detailed break up.

Sakit Kapoor · Kapoor and Company

evasive

If revenue reversed, how were expenses funded? Cash flow impact?

the reversal has been done which is unbilled revenue... this is a margin adjustment... this is not a revenue adjustment... it has not hit the cash flow at all... the cash flow remains positive.

Sakit Kapoor · Kapoor and Company

partial

What should investors expect for year-end and international progress?

as far as Q4 numbers are concerned I'm really sorry but I will not be able to provide any numbers as SEBI regulations restrict me... projects are going on internationally... in Africa we are working currently in Mozambique and Ghana.

Sashi Shinde · SH Consultancy Limited

direct

How well positioned is the company for upcoming highway and airport projects?

we have submitted bids close to 350 cr for which results are awaited... our strike rate at present is 20 to 25%... we are also exploring opportunities overseas.

Mukesh Dwani · WK Securities

direct

What is the timeline for the current order book of ~250 crores?

we are expecting 2.5 to 3 years.

Mukesh Dwani · WK Securities

partial

What is the composition of other current assets of 53 crores?

this is actually a part of the unbilled revenue that was there earlier... in addition to that there has been certain debts... we have a 10 cr limit from HDFC... 4.5 cr limit from PNB... others are our debtors and our unbilled.

Mahet · BY Capital

partial

How will the aviation consultancy vertical contribute to revenue over 2-3 years?

at present we have one airport project... we have submitted bids of four such airports... in terms of revenue if you contribute still 10 to 20% because the reach that highways give any other sector will not be able to give.

Krishna Kumar · Individual Investor

evasive

Are we on track for the 1000 crore order book target by 2030?

there have been certain slowdown... we are confident of our vision 2030... company on a monthly basis is bidding orders close to 100 crores... if we improve our strike rate then yes by 2030 this is achievable.

Krishna Kumar · Individual Investor

evasive

How much of the order book is from the Middle East?

we are right now in the process of establishing there... I'm expecting until this year management is continuously traveling... we have formed a few associations with local partners.

Vivek (Individual Investor) · Research desk

partial

What would revenue have been without the accounting change this quarter?

we have reported a total unbilled revenue reversal of 30 cr... we were confident of getting a similar Q1 Q2 numbers in Q3 also. So it would have been in a similar range.

Ashwin (Individual Investor) · Research desk

direct

Can there be further revisions to project cost estimates?

there will be no such further adjustments that will be there in the future. This is just a one time adjustment.