Incorporated in December 2007, Ravita Engineering Services Limited is an engineering solutions company engaged in Engineering, Procurement, Installation and Commissioning (EPIC) of HVAC systems, central air-conditioning solutions, air flow systems, chiller plants, industrial compressors, cooling equipment and other electromechanical equipment on a turnkey basis. The Company also provides Operations and Maintenance (O&M) services for projects executed by it and systems installed by third-party solution providers.The Company operates across three areas: Onshore, Offshore and Data Center. Its Onshore operations cover commercial, hospitality, corporate and industrial establishments, while its Offshore operations include rigs, platforms and other offshore marine installations.
During the last three fiscal years and the three months ended June 30, 2026, the Company undertook operations at 6 rigs and 16 associated offshore oil and gas platforms. Its Data Center business provides O&M services for cooling systems, chiller plants, HVAC equipment and mechanical utilities, and it has also secured data center infrastructure work orders aggregating ₹12,000.00 lakhs in Maharashtra.
As of June 30, 2026, the Company had an order book across its Onshore, Offshore and Data Center operations, comprising EPIC, O&M and Hybrid projects. The Company is led by Vibhoar Agrawal, Chairman and Executive Director, and Sunildutt Narayan Goswami, Managing Director and Chief Executive Officer, supported by its Chief Operating Officer and engineering and execution teams.
The Company’s revenue from operations increased from ₹1,349.25 lakhs in Fiscal 2024 to ₹27,763.29 lakhs in Fiscal 2026, while EBITDA increased to ₹4,004.92 lakhs and profit after tax stood at ₹2,804.16 lakhs in Fiscal 2026.
As of June 30, 2026, the Company had 399 permanent employees, including 369 in site operations.
Competitive Strengths
Ravita Engineering Services Ltd.’s revenue increased by 154% and profit after tax (PAT) rose by 137% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 207.34 | 162.97 | 58.24 | 9.08 |
| Total Income | 97.45 | 277.82 | 109.30 | 13.53 |
| Profit After Tax | 10.13 | 28.04 | 11.83 | 1.51 |
| EBITDA | 14.04 | 40.05 | 15.65 | 2.86 |
| NET Worth | 109.69 | 99.56 | 15.13 | 3.30 |
| Reserves and Surplus | 96.03 | 85.90 | 15.03 | 3.20 |
| Total Borrowing | 30.88 | 19.21 | 23.11 | 3.52 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Sai Urja Indo Ventures Ltd. | SME | ₹24.95 Cr | ₹113 | 20.96 | ₹140.45 | +24.29% | ₹164.95 |
| Infrax Renewable Ltd. | SME | ₹40.88 Cr | ₹104 | 11.19 | ₹105.50 | +1.44% | ₹119.80 |
| Paluck Technologies Ltd. | SME | ₹33.00 Cr | ₹48 | 6.95 | ₹49.14 | +2.38% | ₹41.72 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet long-term working capital requirements of the Company | 70.00 |
| 2 | Funding capital expenditure requirements of our Company towards purchase of certain heavy equipment | 25.53 |
| 3 | General Corporate Purposes | |
| Total | 95.53 |
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 9.68% | 48.90% |
| ROCE | 10.60% | 48.65% |
| Debt/Equity | 0.28 | 0.19 |
| RoNW | 9.68% | 48.90% |
| PAT Margin | 10.40% | 10.09% |
| EBITDA Margin | 14.42% | 14.43% |
| NAV | 40.15 | 36.44 |
| P/B (x) | 2.79 | 3.07 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 10.26 | 10.75 |
| P/E (x) | 10.92 | 10.42 |
| IPO Date | 13 to 15 Oct, 2026 |
| Listing Date | Wed, Oct 21, 2026 |
| Face Value | ₹5 per share |
| Price Band | ₹105 to ₹112 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 1,03,62,000 shares (agg. up to ₹116 Cr) |
| Reserved for Market Maker | 5,22,000 shares (agg. up to ₹6 Cr) |
| Fresh Issue (Ex Market Maker) | 98,40,000 shares (agg. up to ₹110 Cr) |
| Net Offered to Public | 98,40,000 shares (agg. up to ₹110 Cr) |
| Share Holding Pre Issue | 2,73,18,682 shares |
| Share Holding Post Issue | 3,76,80,682 shares |
The promoters of the company are Vibhoar Agrawal, Rachita Agrawal and Starwings Realtors Pvt.Ltd.
| Share Holding Pre Issue | 73.74% |
| Share Holding Post Issue | 53.46% |
As per our analysis and Based on the information we have, this is the output.
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