Ravita Engineering Services IPO

Ravita Engineering Services is an engineering solutions company that executes turnkey engineering, procurement, installation and commissioning (EPIC) assignments for HVAC systems, central air-conditioning, air-flow systems, chiller plants, industrial compressors, cooling equipment and related electro-mechanical systems.

The company also provides operation and maintenance (O&M) services for projects executed by the company and systems installed by third parties. The business is organised across onshore, offshore and data center operations.

EPIC assignments are generally completed in 6 to 14 months, while O&M contracts typically run for 12 to 36 months. As on June 30, 2026, there is an order book of ₹491.12 crore spread across 21 projects, wherein EPIC represents 62.8%, O&M 18.4% and hybrid projects 18.6%.

In FY26, EPIC projects generated 76% of revenue from operations, while O&M contracts generated 24%. In FY24, EPIC and O&M accounted for 14.8% and 85.1%, respectively. By operating area in FY26, onshore, offshore and data centre revenue was ₹164.36 crore, ₹80.13 crore and ₹33.15 crore, respectively.

The company serves commercial establishments, hospitality units, corporate parks, industrial facilities, offshore rigs and platforms, and data centres. In FY26, Maharashtra contributed 34.5% of revenue from operations, territorial waters of India 26.9%, Gujarat 25.4%, Odisha 11.9% and Karnataka 1.08%. Its clients include public sector undertakings and government-backed entities, private enterprises, EPC contractors and infrastructure developers; 35.4% of FY26 revenue came from government and public-sector clients and 64.5% from non-government clients, all through direct contracts. Repeat clients contributed 62.6% of FY26 revenue from operations.