amit@unlistedkraft.in
+91-9599071664
+91-9599071664
Otis Elevator (India) Limited Unlisted Shares
DRHP Status : Not Filed
25.9
Fundamentals About Otis Elevator (India) Limited
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Key Financials of Otis Elevator (India) Limited
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 1710 | 1947 | 2435 | 2771 |
| Cost of Material Consumed | 840 | 998 | 1302 | 1455 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Gross Margins | 50.88 | 48.74 | 46.53 | 47.49 |
| Employee Benefit Expenses | 357 | 391 | 445 | 491 |
| Other Expenses | 319 | 369 | 486 | 570 |
| EBITDA | 194 | 189 | 202 | 255 |
| OPM | 11.35 | 9.71 | 8.3 | 9.2 |
| Other Income | 61 | 45 | 46 | 63 |
| Finance Cost | 4 | 4 | 6.58 | 5 |
| D&A | 29 | 29 | 27 | 27 |
| EBIT | 165 | 160 | 175 | 228 |
| EBIT Margins | 9.65 | 8.22 | 7.19 | 8.23 |
| PBT | 221 | 198 | 212 | 286 |
| PBT Margins | 12.92 | 10.17 | 8.71 | 10.32 |
| Tax | 58 | 52 | 58 | 76 |
| PAT | 163 | 146 | 154 | 210 |
| NPM | 9.53 | 7.5 | 6.32 | 7.58 |
| EPS | 138.02 | 123.62 | 130.4 | 177.82 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 11.35 | 9.71 | 8.3 | 9.2 |
| Net Profit Margin | 9.53 | 7.5 | 6.32 | 7.58 |
| Earning Per Share (Diluted) | 138.02 | 123.62 | 130.4 | 177.82 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 80 | 73 | 80 | 75 |
| CWIP | 0.91 | 2.6 | 6.6 | 10 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 401 | 420 | 455 | 473 |
| Inventory | 158 | 247 | 264 | 228 |
| Other Assets | 430.1 | 915.21 | 951 | 1112 |
| Total Assets | 1070.01 | 1657.81 | 1756.6 | 1898 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 11.81 | 11.81 | 11.81 | 11.81 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 235 | 225 | 207 | 257 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables | 364 | 490 | 530 | 533 |
| Other Liabilities | 459.19 | 931 | 1008 | 1096.19 |
| Total Liabilities | 1070 | 1657.81 | 1756.81 | 1898 |
About Company
Otis Elevator (India) Limited, founded in 1953 and based in Mumbai, is a premier, debt-free subsidiary of Otis Worldwide Corporation, specializing in manufacturing, installing, and maintaining elevators and escalators. It is a market leader in India’s vertical transportation sector with a vast service network, often traded in the unlisted market.
The following table shows a 10-point analysis of Otis Elevator (India) Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | Incorporated 1953 | A leading elevator and escalator solutions provider in India. |
| Industry | Elevators & Escalators | Operates in vertical transportation and building infrastructure. |
| Core Services | Installation · modernization · maintenance | Strong focus on recurring service revenue model. |
| Parentage | Subsidiary of Otis Worldwide | Backed by a global elevator technology leader. |
| Revenue | ₹3,162 Cr (FY25) | Continued growth in operations |
| Profitability | ₹191 Cr PAT (FY25) | Stable earnings with slight moderation |
| EBITDA | Strong operating margins | Supported by a service-led revenue mix |
| Cash Flow | Strong OCF generation | Healthy operational cash flows |
| Debt Position | Low leverage | Financially stable with minimal debt |
| Outlook | Urbanisation-driven demand | Growth supported by real estate and infrastructure |
Company Overview
(i) Otis Elevator (India) Limited is a leading provider of elevator and escalator solutions, offering installation, modernisation, and maintenance services across residential, commercial, and infrastructure segments.
(ii) Incorporated in 1953, the company is part of the global Otis Worldwide group, bringing advanced technology and strong brand credibility to the Indian market.
(iii) Its business model is largely service-driven, with a significant portion of revenue coming from long-term maintenance contracts, ensuring recurring income.
(iv) The company operates across major cities in India, supporting high-rise buildings, infrastructure projects, and urban development initiatives.
(v) With increasing urbanisation and vertical construction, Otis Elevator (India) Limited is well-positioned to benefit from the growing demand for mobility solutions in buildings.
Challenges in Otis Elevator (India) Limited’s Business
- Dependence on the real estate sector: Demand for new installations is closely linked to construction activity.
- Margin pressure in the new equipment segment: The installation business typically has lower margins compared to the service segment.
- Working capital requirements: Project-based execution leads to receivables and cash flow timing challenges.
- Regulatory and safety compliance: Strict compliance standards increase operational complexity and costs.
Financial Review of Otis Elevator (India) Limited
Here are some highlights of the financial performance of Otis Elevator (India) Limited over the past few years.
FY25 Performance
• Revenue from operations stood at ₹3,162 crore
• Profit before tax stood at ₹256 crore
• Profit after tax reported at ₹191 crore
• Operating cash flow remained strong and positive
FY24 Performance
• Revenue from operations stood at ₹2,770 crore
• Profit before tax stood at ₹285 crore
• Profit after tax reported at ₹208 crore
• EBITDA remained strong with stable margins
FY23 Performance
• Revenue from operations stood at ₹2,435 crore
• Profit before tax stood at ₹212 crore
• Profit after tax reported at ₹154 crore
• Growth supported by service segment expansion
Quick Summary
Otis Elevator (India) Limited is a market-leading elevator solutions company with a strong parentage and a stable, service-driven business model. The company demonstrates consistent revenue growth, strong cash flows, and stable profitability, making it a fundamentally strong player in the building infrastructure segment.
Click Here to visit the official website of Otis Elevator (India) Limited.
Promoters of Otis Elevator (India) Limited
The following are the active promoters/leadership associated with the company:
| Name | Designation | LinkedIn Profile |
|---|---|---|
| Otis International Asia Pacific Pte. Ltd. | Promoter | - |
| Sebi Joseph | Managing Director | View Profile |
| Bharatkumar Sanjiva Nayak | Whole-time Director & CFO | View Profile |
| Suma Puthan Naduvakkat | Whole-time Director | View Profile |
| Anil Vaish | Director | - |
| Jyotin Kantilal Mehta | Director | - |
Shareholding Pattern of Otis Elevator (India) Limited
| Name | Holding |
|---|---|
| Otis International Asia Pacific Pte. Ltd. | 98.24% |
| Other | 1.76% |
Promoters of Otis Elevator (India) Limited
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| Sebi Joseph | Chairman, MD | 25 yrs |  |
| Suma Puthan Naduvakkat | Whole-time Director | 25+ | |
| Bharat Kumar Nayak | Whole-time Director & CFO | 15+ | |
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Frequently Asked Questions
Otis Elevator (India) Limited unlisted shares are equity shares of the company that are not listed on NSE or BSE and are traded privately.
Yes, Otis Elevator (India) Limited unlisted shares can be purchased through private market platforms, subject to availability.
Yes, a demat account is required to hold Otis Elevator (India) Limited unlisted shares.
Otis Elevator (India) Limited has strong fundamentals and global backing, but like all unlisted investments, it carries liquidity and market risks.
Yes, Otis Elevator (India) Limited unlisted shares can be sold in the secondary market, depending on buyer availability.
Yes, as per SEBI regulations, pre-IPO investors are subject to a six-month lock-in period after listing.
If held for more than two years, gains are taxed at 20% with indexation; otherwise, taxed as per the income slab.
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