### **Overview** Aarvi Encon Limited, established in 1987 and headquartered in Mumbai, is one of India’s leading technical manpower outsourcing and engineering services companies. With over **37 years of operating history**, the company has evolved from an engineering consultancy into India’s largest technical staffing provider, serving capital-intensive industries across the globe. It offers diversified services across the full project lifecycle—from conceptualization and design to construction, commissioning, and operations & maintenance (O&M)—with a strong focus on flexibility, scalability, and quality. The company went public via an IPO on the **NSE SME EMERGE platform in 2017** and successfully transitioned to the **NSE Main Board on June 24, 2020**, marking key milestones in its corporate journey. It is recognized as a **"Great Place to Work"** (awarded in Q4 FY24) and holds **ISO 9001:2015 (Quality)** and **ISO 45001:2018 (Safety)** certifications, reflecting its adherence to world-class operational standards. --- ### **Core Business & Services** Aarvi Encon operates in a **single business segment: Technical Manpower Outsourcing**, which constitutes 100% of its revenue. Its service offerings include: - **Technical Staff Deputation**: Permanent, temporary, and contract-based deployment of engineers and technical professionals. - **Project Lifecycle Support**: Engineering, construction supervision, inspection, pre-commissioning, and commissioning services. - **Operations & Maintenance (O&M)**: Full-scale O&M services for oil & gas, power, renewables, tank terminals, and infrastructure. - **Specialized Services**: Plant shutdowns (15-day to multi-month assignments), instrument calibration, electrical-instrumentation, and airport maintenance. - **Flexi-Outsourcing**: As-needed staffing solutions enabling clients to scale teams rapidly without permanent hires. The company maintains an **in-house database of over 800,000 resumes** and uses technology-driven tools—including a resume data management system and digitized HR processes—to enhance talent sourcing, deployment speed, and workforce agility. --- ### **Industry Focus & Diversification** Aarvi Encon serves a broad range of capital-intensive sectors: - **Core Industries**: Oil & Gas, Refinery/Petrochemical, LNG/Tank Terminals, Power, Pipelines, EPC, Infrastructure, and Rail/ Metro. - **Emerging & High-Growth Sectors**: Renewable Energy (Solar & Wind), City Gas Distribution, Pharmaceuticals, Chemicals, and Aviation. - **Future Verticals**: Targeting expansion into automobile, marine, ports, airports, defence, and healthcare. By serving multiple sectors both domestically and internationally, the company reduces its exposure to cyclical demand fluctuations in any single industry. --- ### **Strategic Leadership & Governance** The company is jointly led by: - **Mr. Virendra D. Sanghavi (Managing Director)**: Over **45–48 years of experience** in process plant design and operations; recognized as one of India's **Top 100 Great People Managers** by Forbes India. - **Mr. Jaydev V. Sanghavi (Executive Director & CFO)**: Chemical engineer from Mumbai University; instrumental in launching the **Manpower Supply Division in 1996**, transforming Aarvi into India’s largest technical staffing firm. The **familial relationship** between the two promoters underscores strong strategic alignment and long-term vision. A structured **second-tier management team** supports operational efficiency and continuity. Other key personnel include **Dr. Sheela Kumari** (Board Member), a former head at the Institute of Chemical Technology, adding domain expertise in pharmaceuticals. --- ### **Financial & Operational Highlights (As of Aug–Nov 2025)** - **Renewable Energy Contribution**: 9% of total revenue, reflecting accelerated green transformation since FY22–23 (was 8% in FY23). - **Client Retention**: 88% as of Q1 FY26, indicating strong client satisfaction and relationship management. - **New Client Acquisition**: 10 new clients added in Q1 FY26; over 33 new clients in FY22. - **Major Orders Secured**: - Over **INR 50 crores** in Aug 2025. - **INR 36 crores** in Indonesia via joint venture **PT Aarvi Encon Services (FY24)**. - **Payroll Strength**: Over 5,000 engineers and technical personnel; more than **30,000 deployed since inception**. - **International Revenue Contribution**: Aarvi Encon FZE (UAE) contributed **₹53.03 crores (12% of total revenue)** in FY22–23. Target: **20% international revenue** for better margins. --- ### **Expansion & International Presence** Aarvi Encon has a robust **global footprint**, operating through subsidiaries and joint ventures in: - **Middle East**: UAE (subsidiary Aarvi Encon FZE), Qatar (joint venture Aarvi Encon Staffing Services W.L.L), Oman (Aarvi Encon LLC), Saudi Arabia. - **Asia**: Indonesia (joint venture PT Aarvi Encon Services), Malaysia. - **Europe**: UK (operations discontinued in 2023–24 due to sustained cash losses). **Key International Developments**: - **Acquisition of MNR Technical Services LLC (UAE)** via Aarvi Encon FZE – strengthens UAE presence. - **Joint ventures in Qatar and Indonesia** – enhance local operational capabilities and client access. - **Expansion plans in Saudi Arabia**, with new entity incorporation. - **Discontinued UK operations** following consistent negative cash flow—demonstrating disciplined capital allocation. --- ### **Growth Strategy & Initiatives** Aarvi Encon’s strategic priorities focus on **growth, diversification, and technological advancement**: 1. **Vertical Expansion**: - Entered **renewable energy** with contracts from 4 solar PV/cell manufacturers and a major wind blade producer. - Signed O&M contracts with **Gujarat State Fertilizers & Chemicals Limited (GSFC)** and secured pharma/chemical sector orders. - Launched **Permanent Placement Division** (currently 0.3% revenue; high growth potential). 2. **Client & Revenue Growth**: - **Cross-selling and up-selling** to existing clients. - **Diversifying client base** beyond traditional energy to pharmaceuticals, chemicals, and infrastructure. - Strengthening recurring revenue via long-term O&M contracts. 3. **International Growth**: - Dedicated **international sales team** for manpower deputation. - Targeting higher-margin markets and improving global profitability. 4. **Digital Transformation**: - Digitizing HR and operational processes for **contactless management**. - Enhancing **talent acquisition, retention, and domain expertise**. 5. **New Market Entry**: - Exploring opportunities in **IT staffing, healthcare, defence, aviation, ports, and marine sectors**. --- ### **Operational & Client Strengths** - **O&M Leadership**: O&M services contribute **~17–43% of revenue (historical peaks at 42–43%)** and are high-margin. The company is a **preferred O&M partner** for HPCL, GSPC, Cairn, GSPL, and HMPL. - **Rapid Mobilization**: Can deploy large teams for **short-term shutdown projects (15 days to months)**. - **Long-standing Client Relationships**: Some partnerships span **decades**, including with Reliance Industries, L&T, IOCL, Cairn, Technip, and Engineering India Ltd. - **Workforce Scalability**: Currently over **4,500 professionals on-site** at client locations.