This company listed within the last twelve months, so its prospectus is still the primary source. The figures below were extracted from the DRHP and RHP before listing and scored then, and they are shown here as they stand in the IPO record rather than restated.
Each flag is a fact read in the filing, shown with the context that makes it meaningful.
Stated objects, as worded in the offer document. Deployment against them is tracked separately.
Claims made in the offer document, to be read against what the company has reported since.
Incorporated in 2007, Ravita Engineering Services Limited provides integrated electro-mechanical engineering solutions across three key verticals: Onshore, Offshore, and Data Centers. The company executes turnkey EPIC projects (including HVAC, central air conditioning, chiller plants, and industrial cooling) and provides multi-year O&M services. In FY26, revenue from operations reached Rs. 277.6329 crore (standalone), with EPIC projects contributing 76.00% (Rs. 210.9907 crore) and O&M services contributing 24.00% (Rs. 66.6422 crore). Total order book as of June 30, 2026 stood at Rs. 491.1212 crore.
Integrated service offerings combining short-cycle EPIC execution with multi-year recurring O&M contracts, specialized experience in mission-critical data center and harsh offshore environments, large engineering workforce, and established client relationships.
Ravita Engineering Services Limited is an engineering solutions provider specializing in turnkey Engineering, Procurement, Installation and Commissioning (EPIC) and Operations & Maintenance (O&M) for HVAC and electromechanical systems across onshore, offshore, and data center environments.
Source: p.180, 181, 184
As presented in the offer document. Post-listing figures are in the statements above.
| Basis | Period | Related party revenue cr | Pat cr | Pat margin | Revenue cr | Pat margin derived | Cff cr |
|---|---|---|---|---|---|---|---|
| standalone | FY26 | 0 | 28.0416 | 10.1% | 277.6329 | yes | 51.7697 |
| standalone | FY25 | 0 | 11.827 | 10.89% | 108.6127 | yes | 19.2382 |
| standalone | FY24 | 0 | 1.508 | 11.18% | 13.4925 | yes | -3.2642 |
The measures this sector is actually judged on, as disclosed in the document. No feed supplies these.
Written before listing, answered from the document itself.
How are the fresh issue IPO proceeds allocated across working capital, heavy equipment capex, and general corporate purposes?
Fresh issue proceeds are allocated as: Rs. 106.0000 crore for meeting long-term working capital requirements in FY27 and FY28, Rs. 25.5292 crore for funding capital expenditure towards purchase of heavy equipment (trucks, dumpers, cranes), and the balance for General Corporate Purposes.
p.108, 112, 116
What is the promoters' shareholding pre-issue and their acquisition cost history?
Promoters Vibhoar Agrawal, Rachita Agrawal, and Starwings Realtors Private Limited hold 84.52% pre-issue equity (23,098,238 shares out of 27,318,682 shares). Control was acquired in February 2025, and shareholding was expanded through a 100:1 bonus issue in February 2026, establishing a promoter weighted average cost of acquisition (WACA) of Rs. 3.42 per share for Rachita and Vibhoar Agrawal, and Rs. 77.68 per share for Starwings Realtors.
p.90, 97, 120, 181
What are the key related-party transactions, inter-corporate deposits, and promoter debt support?
Promoter entity Starwings Realtors Private Limited provided inter-corporate loans (outstanding Rs. 12.0359 crore as of June 30, 2026). Director loans from Sunil Goswami stood at Rs. 2.4551 crore. Promoters Vibhoar Agrawal and Rachita Agrawal provided personal guarantees and collateral property for bank credit facilities of Rs. 21.00 crore.
p.72, 204, 225, 298
How did operating cash flow perform relative to restated net profits over FY24 to FY26?
Restated PAT expanded from Rs. 1.5080 crore in FY24 to Rs. 11.8270 crore in FY25 and Rs. 28.0416 crore in FY26. However, Operating Cash Flow (CFO) was negative in FY25 (-Rs. 8.9436 crore) and FY26 (-Rs. 46.8510 crore) due to working capital lock-up in trade receivables (Rs. 73.2602 crore) and inventory (Rs. 37.4281 crore).
p.65, 68, 121, 293
What secretarial, statutory compliance, litigation, and tax findings exist for the company?
The company disclosed 2 indirect tax claims under dispute totaling Rs. 4.4666 crore. An associated entity, M.R. Foods Private Limited, is undergoing compulsory strike-off by RoC. Statutory auditor M/s Piyush Kothari & Associates served as auditor for FY25 and FY26 following previous auditor M/s Rinki Gupta & Co.
p.29, 253, 304
What are the application lot terms, retail ticket requirements, market maker details, and exit constraints for public investors?
The offer is listed on NSE Emerge with a minimum retail application requirement of 2 lots (minimum application size above Rs. 2.00 lakhs). Trading occurs strictly in standardized market lots, and because lots are indivisible, partial exit or fractional lot trading is impossible. Market maker reservation is 522,000 equity shares (5.04%) with a mandatory 3-year obligation period. Standard SME 5% price circuit limits apply.
p.1, 3, 90
What the issue priced at, on the figures in the document.
How the book filled. A category that bid far above the rest is a different signal from a uniformly covered issue.
| Date | Name | Shares | Price per share | Category | Issue type | Source |
|---|---|---|---|---|---|---|
| 2007-03-27 | Initial Subscribers to MOA / Original Promoters (Goswami Family) | 100000 | 10 | promoter | initial | p.96 |
| 2025-02-15 | Promoters (Vibhoar & Rachita Agrawal, Starwings Realtors) | 100000 | 10 | promoter | transfer | p.96, 120 |
| 2026-01-20 | Promoters (Share Split 1:2) | 270482 | 5 | promoter | split | p.96, 120 |
| 2026-02-19 | Existing Shareholders (Bonus 100:1) | 27048200 | 0 | promoter | bonus | p.90, 96, 120 |
Ceo: Sunildutt Narayan Goswami
Pending indirect tax claims of Rs. 4.4666 crore against the Company. Ongoing RoC strike-off proceedings against associated company M.R. Foods Private Limited.
Auditor name: M/s Piyush Kothari & Associates, Chartered Accountants
Promoters hold 84.52% pre-issue shareholding (Rachita Agrawal 12,831,040 shares / 46.97%, Vibhoar Agrawal 5,698,420 shares / 20.86%, Starwings Realtors Pvt Ltd 4,568,778 shares / 16.72%).
Auditor changed last 3y: Yes
Source: p.1, 7, 29, 253, 298, 304
Transactions with promoters, directors and their entities, as disclosed.
| Counterparty | Amount cr | Nature | Relationship | Core function | Source |
|---|---|---|---|---|---|
| Starwings Realtors Private Limited | 12.0359 | loan taken | promoter-owned entity | no | p.72, 204, 225 |
| Sunildutt Narayan Goswami | 2.4551 | loan taken | director | no | p.204, 225 |
| Vibhoar Agrawal | 0.4197 | remuneration | director | yes | p.253, 278 |
| Rachita Agrawal | 0.36 | remuneration | director | yes | p.253, 278 |
No continuing defaults in payment of statutory dues or loans disclosed. Outstanding indirect tax claims under dispute total Rs. 4.4666 crore.
Defaults disclosed: No
Source: p.44, 304
Models that need these lines are withheld rather than estimated: two comparable financial years. Nothing on this page is back-solved from a figure the company did not publish.
Set your own assumptions and watch the numbers move. A scenario calculator — the outputs are the arithmetic of your inputs.
What this sector is read on: Order inflow, Order book, Book to bill, Execution rate, Unbilled revenue, Customer advances, Government share of book, Working capital days. These come from the filings, not the market feed, and appear here once a quarter is read.
Read using the Capital goods and EPC framework (from the listed sector). Primary valuation lens: P/E against order book quality.
Read more closely in this sector: Unbilled revenue growing faster than billed receivables · Order inflow against execution · Bank guarantees outstanding growing faster than the order book · Liquidated damages or cost overruns disclosed.
The same read, applied to the companies this one competes with.