Aqua Chill

What Aqua Chill does

Aqua Chill Systems India Pvt. Ltd. is a Pune-headquartered industrial HVAC and process cooling EPC contractor founded in 1997 by Suhas Shinde. The company delivers turnkey engineering, procurement, construction, installation, and commissioning services for climate-control systems across nine verticals: Food & Beverage, Pharmaceuticals, Chemicals & Fertilizers, Data Centers, Steel, Automotive, Renewable Energy (Solar & Wind), Paper & Packaging, and Other Industries (healthcare, electrical, FMCG, textiles). Approximately one-third of projects are executed as complete turnkey solutions with timelines spanning several months to over a year, complemented by recurring revenue from annual maintenance contracts (AMC), equipment supply, and specialized process cooling/heating services. The company operates across India, Sri Lanka, and Bangladesh with 400+ completed projects and a B2B enterprise field sales model that leans on MEP/HVAC consultant referrals and competitive bidding.

Aqua Chill's technology portfolio spans central air conditioning, industrial ventilation, process cooling, high-temperature industrial heat pumps (up to 120°C with COP values of 2+), gas turbine inlet air cooling, ISO Class 6-8 cleanroom solutions, sustainable dehumidification, heat-recovery absorption chilling, CHPC/trigeneration, and liquid-cooling solutions for data centers (direct-to-chip, immersion, microchannel, active rear door). Notable proprietary innovations include India's first industrial stratified thermal storage tank (thermal flywheel) reducing absorption chiller sizing by ~30%, in-house designed octagonal diffusers that preserve temperature stratification integrity, and precision suction air cooling heat exchangers with mist elimination and hydrophobic filtration. The company deploys SAP-enabled ERP for real-time project tracking and adheres to ASHRAE, ISHRAE, USGBC, GMP, USFDA, and CPCB standards with ISO 9001:2015 (TUV) certification.

Revenue is generated through turnkey EPC project delivery (one-time), equipment supply (hardware sales), recurring AMC/service contracts, and specialized process cooling/heating services (professional services). Pricing follows a project-based quotation model with multi-year contracts, customized through competitive bidding or direct negotiation. Aqua Chill achieved its 'Vision Viraat 100' milestone of 100 crores INR (~$12M USD) revenue in 2022 and has launched 'Vision Viraat to Vikram', targeting 1,000 crores (~$120M USD) by 2030. Named enterprise customers include General Motors, JCB, Kimberly Clark, Deepak Fertilisers, BHEL Kribhco, Haldiram Foods, Frensius Kabi India, Renewsys, Paharpur 3P, and Ruby Hall Clinic. The company merged with Tri Gen Energy Design Pvt. Ltd. (TEDPL) to absorb CHPC/trigeneration expertise and is led by a senior team (25-35+ years tenure) drawn from Thermax and Kirloskar Pneumatics.

Name

Aqua Chill

Legal name

Aqua Chill Systems India Pvt. Ltd.

Website

https://aquachill.co.in

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

251–500 employees

Short description

Aqua Chill Systems India Pvt. Ltd. is a Pune-based industrial HVAC and process cooling EPC contractor delivering turnkey climate control systems across nine industrial verticals including pharmaceuticals, data centers, chemicals, and steel, operating in India, Sri Lanka, and Bangladesh.

Ownership category

akta.pro rank

Product category

Industrial HVAC Engineering, Procurement and Construction (EPC) Services

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Plumbing, Heating, and Air-Conditioning Contractors (23822), Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Auto Controls For Regulating Residential & Comml Environments (3822), Cogeneration Services & Small Power Producers (4991), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564)

akta.pro primary industry

Chillers & Cooling Plant Equipment (IMAHAKAE)

akta.pro secondary industries

Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD), Chillers, Boilers & Central Plant Operations (BPABACAG), Auxiliary Systems EPC (Station Service, HVAC, Fire Protection, Security) (EUAEADAK), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF), HVAC & Industrial Ventilation (Chillers, AHUs, Exhaust, Filtration) (EUAEAFAE)

Keywords

• Industrial HVAC systems
• Process cooling solutions
• Turnkey EPC services
• Cleanroom HVAC systems
• Heat pump technology

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Turnkey EPC Projects: Full Design & Build project delivery including engineering, procurement, construction, installation, testing, and commissioning of HVAC and process cooling systems. Approximately one-third of projects are delivered as complete turnkey solutions. Revenue recognized over project duration with typical timelines spanning several months to over a year.
2. Equipment Supply: Supply of HVAC equipment including chillers, air handling units, cooling towers, pumps, heat exchangers, and specialized components. Equipment supply often bundled with EPC services.
3. AMC/Service Contracts: Annual maintenance contracts and service agreements for installed HVAC systems. Includes 24x7 support for critical operations. Provides recurring revenue stream from existing installed base.
4. Process Cooling & Heating Services: Specialized process cooling and heating solutions including suction air cooling for compressors, absorber cooling, and industrial heat pump installations for manufacturing processes.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Aqua Chill designs, engineers, procures, constructs, and commissions industrial HVAC and process cooling/heating systems on a turnkey EPC basis. Its offerings span central air conditioning, industrial ventilation, process cooling, high-temperature heat pumps (up to 120°C), cleanroom solutions (GMP/USFDA/ISO-compliant), gas turbine inlet air cooling, CHPC/trigeneration, sustainable dehumidification, liquid cooling for data centers, and heat-recovery absorption chilling. Approximately one-third of projects are delivered as full turnkey solutions, supplemented by equipment supply and AMC/service contracts.

Product overview

Aqua Chill is a comprehensive industrial HVAC and process cooling solutions provider offering turnkey EPC services. The company delivers an integrated portfolio of climate control solutions including Central Air Conditioning, Industrial Ventilation, Process Cooling, Process Heating (Heat Pumps), Gas Turbine Inlet Air Cooling, CHPC Architecture/Trigeneration, Sustainable Dehumidification, Cleanroom Solutions, SFN for Liquid Cooled Data Centers, and Heat Recovery Based Absorption Chilling. The company operates as both a solutions provider and EPC contractor, combining in-house design capabilities with turnkey project execution. Key technology offerings include Vapor Absorption Machines (VAM), Stratified Thermal Storage Tanks for thermal flywheel applications, Direct-to-Chip Cooling, Immersion Cooling, and advanced chemical filtration systems. The portfolio also includes Smart HVAC systems with IoT sensors for real-time monitoring, multi-stage filtration (HEPA/ULPA), and PLC-based Building Management Systems for comprehensive environmental control across industries including Food & Beverage, Pharmaceuticals, Data Centers, Chemicals & Fertilizers, Steel, Automotive, and Renewable Energy.

Differentiator

Problem solved

Functional benefit

Products and services

• Central Air Conditioning

Quantifiable outcome

• 400+ projects completed across diverse industries
• +8 more outcomes

Named customers13 records

Segments9 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• Tri Gen Energy Design Pvt. Ltd. (TEDPL)coreStrategic or Co-development Partner · 1 January 2007TEDPL, founded by Gajanan Khot in 2007, was a specialized company in Combined Heating, Power and Cooling (CHPC) systems. The company merged with Aqua Chill, bringing CHPC expertise and strengthening Aqua Chill's front-end value chain including sales, marketing, commercial operations, OEM partnerships, and customer relations.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Thermax Limited: Thermax is India's largest industrial HVAC, cooling, and process heating EPC company with a similar end-to-end design-build capability. Aqua Chill itself originated as a Thermax Service Franchisee in 1997 and competes head-to-head on chillers, absorption systems, and EPC contracts across pharma, chemicals, and steel — direct product and customer overlap.
• Voltas Limited: Voltas is a major Indian HVAC and MEP contractor with deep enterprise and project-business presence. It competes with Aqua Chill on large industrial HVAC tenders, central air conditioning installations, and turnkey project execution, particularly in commercial and industrial segments.
• Blue Star Limited: Blue Star operates a large commercial and industrial HVAC contracting business alongside equipment distribution. It directly competes on industrial HVAC-EPC bids and chillers, with overlapping customer segments in pharma, F&B, and commercial real estate.
• Paharpur Cooling Towers: Paharpur is an established Indian manufacturer and EPC provider of cooling towers and air-cooled heat exchangers serving process industries. It is highly comparable to Aqua Chill's process cooling and industrial ventilation offerings, with shared customers in chemicals, fertilizers, and steel.
• Sterling and Wilson (HVAC Division): Sterling and Wilson operates a mechanical, electrical, and plumbing (MEP) contracting business with HVAC capability across industrial and commercial projects. It competes with Aqua Chill on turnkey HVAC-EPC contracts and has similar large-project execution experience.

Broad incumbents

• Daikin Air-conditioning India: Daikin is a global HVAC manufacturer with a strong India manufacturing and project presence. While primarily commercial/residential, it competes with Aqua Chill on industrial and large-tonnage chiller applications, leveraging scale and brand strength.
• Carrier Global (India): Carrier is a global HVAC and refrigeration incumbent with significant India operations in chillers and process cooling. Its broad portfolio overlaps with Aqua Chill's chiller and industrial cooling offerings, especially in commercial and industrial applications.
• Johnson Controls (York): Johnson Controls (York/Hitachi) is a global HVAC incumbent with a strong India presence in chillers, building automation, and data center cooling. While broader in scope, it directly competes on the chiller, data center, and cleanroom categories Aqua Chill serves, often anchoring the upper end of large tenders.

Emerging players

• Forbes Marshall: Forbes Marshall provides steam engineering, process heating, and energy efficiency solutions to Indian process industries. It has overlap with Aqua Chill's industrial heat pump and process heating portfolio, particularly where steam-to-electric conversion is relevant.
• Alfa Laval (India): Alfa Laval supplies heat exchangers, separators, and process cooling equipment that overlap with Aqua Chill's heat exchanger and process cooling portfolio. It serves similar industrial customers (chemicals, F&B, pharma) but is equipment-focused rather than turnkey EPC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/aquachill
• LinkedInlinkedin.com/company/aquachillsystem
• Instagraminstagram.com/aquachillsystems
• Xx.com/AquaChillIndia

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aqua Chill