Otis Elevator Company India Limited

Otis Elevator India Share Price & delisted Share - Company Overview

Otis Elevator India Limited is a subsidiary of Otis Elevator Company, which is one of the world's largest manufacturers and maintainers of people-moving products, including elevators, escalators, and moving walkways. Otis Elevator India Limited was founded in 1953 and is headquartered in Mumbai, India.

The company offers a wide range of elevator and escalator solutions for various applications, including residential, commercial, healthcare, hospitality, and infrastructure projects. Otis Elevator India Limited also provides maintenance and modernization services for its products to ensure optimal performance and safety.

In addition to India, Otis Elevator Company has a global presence and operates in over 200 countries. The company is committed to sustainable practices and has implemented various initiatives to reduce its environmental impact, such as developing energy-efficient products and reducing waste generation.

Otis Share Price, Delisted share Details as of March 31, 2022

Incorporation Details of Otis

Board of Directors of Otis

Sebi Joseph, Managing Director

P. S. Dasgupta, Independent Director

Anil Vaish, Independent Director

Suma P N, Whole-time Director

Bharatkumar Nayak, Whole-time Director

Principal Business Activities of Otis

Otis Particulars of Subsidiary Company

Shareholding Pattern of Otis (As of 31st March 2022)                       

Industry Outlook of Elevators and Escalators

India is the 2nd largest market in the world after China for elevators and escalators. The sector is expected to grow by around 5% - 6% CAGR for the next 5 years. The sector is projected to cross Rs. 1,50,14,14 lakhs by FY 2023. The rise in the elevators industry can be easily sited by increasing urbanization, development of the real estate sector, and an increasing number of multi-story residential and commercial buildings in the country. Government initiatives such as smart cities mission and AMRUT cities will also contribute to growth in the Elevators sector.

However, it might be possible that the growth would be primarily fuelled by development in the tier-2 and 3 cities as the construction boom has already reached the saturation point in the major metro cities. These changes will definitely increase the demand for maintenance in the industry.

The rising need for maintenance & modernization of elevators is another growth enabling factor globally. Elevators are maintained under full-service contract agreements due to high labor costs and short service cycles.

It is expected that the growth in the residential segment will be the biggest contributor to the construction industry, which will increase the need for elevators.

Maintenance is a critical aspect in this industry as it is important to ensure that the elevator’s performance is maintained, as well as to prolong the life of the Elevator. The elevator industry is putting efforts to enable their field employees to be more efficient by developing tools that can help them to source information faster and make stronger relationships with customers and find out the problem and solve it before it actually becomes a problem.

Internet of things (IOT) will enable more transparency for the customers, more information, and a streamlined process to reach out to their maintenance company.

Nowadays elevator manufacturers are trying to make elevators environmentally friendly which can aid in substantial energy savings. Moreover, they are also working on elevator aesthetics. They are trying to make it a stimulating and engaging space.

Profit & Loss Statement of Otis Elevator Company (India) Limited (In Rs. Lakhs)

Balance Sheet of Otis Elevator Company (India) Limited (In Rs. Lakhs)

Dividend and Retained Earnings of Otis

Performance of Otis

• Revenue from Operations of the company increased by 13.87% in FY 2022 to Rs. 1,94,728 Lakhs from Rs. 1,71,009 Lakhs in FY 2021.
• EBITDA decreased by 9.55% from Rs. 25,353 Lakhs in FY 2021 to Rs. 22,931 Lakhs in FY 2022. EBITDA margins also decreased from 14.82% in FY 2021 to 11.77% in FY 2022.
• The Finance cost of the company increased by 2.76% from Rs. 398 Lakhs to Rs. 409 Lakhs.
• Profit after tax stood Rs. 14,642 Lakhs in FY 2022 against a Profit after tax of Rs. 16,375 Lakhs in FY 2021, showing a decline of 10.58%.
• The company has no long-term borrowings.
• The Current Ratio of the company for FY 2021 was 1.12 and the same has declined to 1.08 in FY 2022.
• The book value of the company as of 31st March 2022 was Rs. 201.30.
• The company has consistently given dividends every year. However, dividend per share declined by 33.34% to Rs. 100 in FY 2022 from Rs. 150 in FY 2021.