L. T. Elevator Ltd

Financial highlights

• Standalone net income from operations: 7,074.26 Lakhs.
• Standalone total income: 7,104.03 Lakhs.
• Standalone PBT: 1,360.56 Lakhs.
• Standalone PAT: 955.91 Lakhs.
• Standalone Basic EPS: 6.38.
• Consolidated total income: 11,173.07 Lakhs.
• Consolidated PBT: 2,398.09 Lakhs.
• Consolidated PAT: 1,702.10 Lakhs.
• Consolidated Basic EPS: 4.72.
• Current ratio: 2.25 times (standalone).
• Debt-Equity ratio: 0.18 times (standalone).
• Net profit margin: 0.13% (standalone).

Capital structure & equity

• Authorized capital Rs 20 crore; paid-up capital Rs 19.16 crore.
• IPO completed Sep 2025; 50,48,000 equity shares issued.
• Promoter holding 45.14% as of 31 Mar 2026.
• Issued, subscribed and paid-up capital stands at 1,91,63,055 shares.
• Park Smart Solutions Limited is a 100% subsidiary.

Strategic developments

• Acquisition of Ricardo Elevators Private Limited approved; target to become wholly owned.
• Proposed preferential issue: up to 4,61,000 equity shares at Rs 281.86.
• Floor price and swap ratio determined under ICDR regulations.

Governance & controls

• Company Secretary changed; Parthiv Pansuriya appointed 25 June 2026.
• Board met 14 times during the year.
• Statutory Auditor: KSA & Co; Secretarial Auditor: Himanshu S K Gupta & Associates.
• Board committees: Audit, Nomination & Remuneration, Stakeholder Relationship.

CSR & ESG

• CSR obligation Rs 8,84,904; unspent amount to be transferred.
• CSR policy and projects disclosed on company website.
• Impact assessment not required due to CSR spend threshold.

Subsidiaries & related party

• Park Smart Solutions Limited is 100% subsidiary.
• Related party transactions are arm's length and disclosed.

AGM Details

• 18th AGM on Sep 9, 2026 at 2:00 PM IST via Video Conference/OAVM.

Acquisition of Ricardo Elevators Private Limited

• Target: Ricardo Elevators Private Limited, engaged in elevator systems assembly, sale, import/export in India.
• Size: FY2025 turnover Rs 4.04 crore; FY2026 Rs 12.08 crore; paid-up capital Rs 5 lakh.
• Structure: 100% equity via share swap; LT to issue up to 4,61,000 shares.
• Consideration: up to Rs 12.99 crore via share swap.
• Control: Ricardo to become LT's wholly owned subsidiary.
• Related party: not a related party transaction; promoters have no interest.
• Rationale: strengthen LT's B2C model with pan-India distribution.
• Timeline/approvals: completion within 120 days, subject to conditions precedent and regulatory clearances.
• Approvals: corporate approvals and SEBI ICDR and other required clearances.
• Background: Ricardo incorporated May 27, 2024; Hyderabad; elevator assembly, parts, and solutions.
• Pricing: issue price Rs 281.86 per LT share under ICDR pricing.
• Board actions: Discontinued merger; approved 100% acquisition via share swap.

Event participation

• LT Elevator participated in Alpha Ideas SME Stars 2026 on 6 September 2026.
• Yash Gupta, Non-Executive Director, attended the SME One-to-One meeting in Mumbai.
• No unpublished price sensitive information (UPSI) was shared during the interaction.

Meeting Details

• Date: 13 August 2026
• Time: Not disclosed
• Location: Registered office of L. T. Elevator Limited

Key Agenda Items

• Approve issuance of equity shares or securities via permissible modes (incl. preferential issue) with pricing, subject to approvals.
• Fix date/time/place for EGM/AGM to obtain shareholder approval for the issuance proposal.

Other Notes

• Trading window closed for designated persons and immediate relatives from intimation to 48 hours after outcome disclosure.

Acquisition overview

• Target: L. T. Elevator Limited; Acquirer: Bandhan Small Cap Fund; PACs: Bandhan Small Cap Fund; promoter group: No.
• Exchange: BSE SME Exchange.
• Mode: preferential allotment; Date: 27 July 2026.
• Pre-acquisition: 10,80,000 voting rights shares; 5.08% of capital; 4.95% diluted.
• Post-acquisition: 10,80,000 voting rights shares; 5.08%; 4.95% diluted.
• Equity capital before: 1,91,63,055 shares; face value Rs 10.
• Equity capital after: 2,12,63,133 shares; face value Rs 10.
• Total diluted share capital after: 2,17,95,047 shares.
• New issue size: 21,00,078 equity shares issued via preferential allotment.
• Date of allotment: 27 July 2026.

Capital actions

• Equity shares: 21,00,078 allotted on preferential basis at Rs 188 per share.
• Post-issue capital: increased to Rs 21,26,31,330 comprising 2,12,63,133 equity shares.
• Fully Convertible Warrants: 5,31,914 allotted on preferential basis to Motilal Oswal Financial Services Limited.
• Warrants terms: 25% upfront; 75% due within 18 months; each warrant entitles one equity share at Rs 188.
• Shares and warrants rank pari passu; lock-in applies per SEBI ICDR Regulations.
• Notable allottees include Bandhan Small Cap Fund and Motilal Oswal Financial Services Limited.
• Total issued securities: 21,00,078 equity shares and 5,31,914 warrants.

Project commencement

• Bhoomi Pujan on 13 July 2026 marks start of construction in West Bengal.

Capacity and economics

• Installed capacity to rise ~2.5× on commissioning in Q4 FY27.
• Peak revenue potential expected at approximately ₹400 crore.
• FY26 revenue crossed ₹111 crore.

Operational impact & timeline

• Consolidates manufacturing, sourcing, and execution under one roof.
• Brownfield expansion enables future capacity growth beyond FY28 without new land.
• Commissioning targeted for Q4 FY27.

Dematerialisation status

• Securities received for dematerialisation were confirmed (accepted/rejected) to the depositories during the quarter.
• The dematerialised securities have been listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates were mutilated and cancelled; depository's name substituted as registered owner within the timeline.

EGM outcome

• Members approved the EGM resolution with requisite majority.
• The meeting was held on 13 June 2026 for L. T. Elevator Limited.