Ravita Engineering ServicesIPO Review — Financials, Valuation & Peers
A data-only look at the Ravita Engineering Services IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 13.53 | 1.51 | 2.86 | 3.3 | 9.08 | 3.52 | — |
| FY 2025 | 109.3 | 11.83 | 15.65 | 15.13 | 58.24 | 23.11 | — |
| FY 2026 | 277.82 | 28.04 | 40.05 | 99.56 | 162.97 | 19.21 | — |
| Jun 2026 (interim) | 97.45 | 10.13 | 14.04 | 109.69 | 207.34 | 30.88 | 10.26 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- P/E (pre-issue)
- 10.92x
- P/E (post-issue)
- 10.42x
- RoNW
- 9.68%
- RoE
- 9.68%
- RoCE
- 10.6%
- Debt / Equity
- 0.28
- EPS (pre-issue)
- ₹10.26
- EPS (post-issue)
- ₹10.75
- EBITDA Margin
- 14.42%
- PAT Margin
- 10.4%
- P/BV
- 2.79x
- NAV / share
- ₹40.15
- Market Cap
- ₹422.02 Cr
As of 30 Jun 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Promoters & Shareholding
Promoters: <p>Vibhoar Agrawal, Rachita Agrawal, Starwings Realtors Pvt.Ltd.</p>
- Holding (pre-issue)
- 73.74%
- Holding (post-issue)
- 53.46%
- Dilution
- 20.28%
Analysis in brief
Margin and return profile
The offer document gives a read on the operating engine behind the issue. Ravita Engineering Services operates at an EBITDA margin of 14.42% and a net (PAT) margin of 10.4% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 10.6% and a return on equity (RoE) of 9.68%. At the upper band, the post-issue market capitalisation works out to about ₹422.02 crore. These are offer-document figures for the latest reported period (as of 30 Jun 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward to meet long-term working capital requirements of the company (₹70 crore), alongside funding capital expenditure requirements of our company towards purchase of certain heavy equipment (₹25.53 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Ravita Engineering Services reported revenue of ₹97.45 crore and a net profit of ₹10.13 crore. Revenue grew from ₹13.53 crore in FY2024 to ₹97.45 crore in FY2026 (+620.0%). Net worth stood at ₹109.69 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.9× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 10.42× post-issue earnings and 2.79× book value, against a return on net worth of 9.68% and a debt-to-equity ratio of 0.28. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Vibhoar Agrawal, Rachita Agrawal, Starwings Realtors Pvt.Ltd.</p>. Promoter holding stands at 73.74% before the issue and comes down to 53.46% after listing.
Frequently asked questions
- Who are the promoters of Ravita Engineering Services and what is their holding?
- The promoters are <p>Vibhoar Agrawal, Rachita Agrawal, Starwings Realtors Pvt.Ltd.</p>. Promoter holding is 73.74% before the issue and 53.46% after listing.
- What is the P/E ratio of the Ravita Engineering Services IPO?
- At the upper price band, the Ravita Engineering Services IPO is valued at 10.92× pre-issue earnings and 10.42× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Ravita Engineering Services IPO?
- The net proceeds go primarily toward to meet long-term working capital requirements of the company, among 3 disclosed objects.