L. T. Elevator Ltd

L. T. Elevator Limited — Trading window closed from 01 October 2026 until 48 hours after the declaration of Unaudited Standalone & Consolidated Financial Results for the half year ended 30 September 2026

AGM details

• AGM held on 09 Sep 2026 via VC/OAVM.
• Record date for voting: 02 Sep 2026.
• Meeting time: 02:00 PM to 02:28 PM.
• E-voting window: 05 Sep 2026 09:00 AM to 08 Sep 2026 05:00 PM.

Key resolutions

• Ordinary: adopt standalone and consolidated financial statements with director and auditor reports.
• Ordinary: re-appoint Usha Gupta on retirement by rotation.
• Ordinary: increase authorised capital and alter MOA.
• Special: equity shares issued for consideration other than cash via share swap to acquire Ricardo Elevators Private Limited.
• Special: increase board borrowing limits under section 180(1)(c).
• Special: empower board to sale/lease/dispose of undertaking under section 180(1)(a).

Voting results

• All resolutions passed with requisite majority; unanimous support per Scrutinizer’s report.

Dividend

• No dividend proposal or declaration reported.

Director changes

• Usha Gupta re-appointed as director, retires by rotation.

Auditors

• Financial statements and auditor reports adopted; no new statutory/secretarial/cost auditor appointment noted.

Material related party transactions

• Share-swap based acquisition with Ricardo Elevators Private Limited; value not disclosed.

Other material approvals

• Increase in authorised capital; higher borrowing limits; board empowered for disposal of undertaking.

AGM Details

• AGM held on 9 September 2026 from 2:00 PM to 2:28 PM via VC/OAVM.
• Quorum confirmed; meeting chaired by Managing Director.
• Scrutinizer appointed for e-voting: Mr. Himanshu Gupta.
• Vote results to be announced within 48 hours and uploaded on company and BSE websites.
• Meeting concluded at 2:28 PM.

Ordinary Business

• Adoption of standalone financial statements for year ended 31 March 2026.
• Re-appointment of Mrs. Usha Gupta, retiring by rotation.

Special Business

• Increase in authorised capital and alteration of capital clause of MOA.
• Issue of equity shares for consideration other than cash via share swap for acquisition of Ricardo Elevators Private Limited.
• Increase in borrowing limits under section 180(1)(c).
• Empower board to sell, lease, or dispose of whole or substantial undertaking under section 180(1)(a).

Voting Status

• Results pending; to be announced within 48 hours and uploaded on websites.

Business Overview

• Core Elevators, D2C Home Elevators (Ricardo), and Global Automated Car Parking form LT Elevator's verticals.
• DYPC acquisition and in-house manufacturing for DYPC systems.
• Ricardo D2C brand targets 40 experience centres by Dec 2026; ARR milestone reached.

Key Operational Highlights

• In Aug 2026 LT signed SPA to acquire DYPC Inc.
• Bhoomi Pujan on Jul 13, 2026; West Bengal site commencement.
• Integrated DYPC manufacturing plant to domestically produce systems.
• Capacity expansion: 2,500 elevator units/year by Q4 FY27.
• 8,000 parking spaces/year by FY27.
• DYPC IP: 12 patents; 20+ years deployments.
• US market visibility 80% of DYPC bid pipeline.
• US bid pipeline ₹550 Cr; DYPC bid pipeline ₹700 Cr.
• Combined order book ₹289+ Cr as of Jan 2026; 90% executable in 18 months.
• FY26 consolidated revenue CAGR 47.9% (FY23–FY26).
• D2C Ricardo ARR milestone ₹100 Cr; six months ahead.
• Experience centres: 21+; target 40 by Dec 2026.

Financial Performance

• LT Elevator revenue (FY26) ₹111 Cr.
• D2C gross margins 58–60%; long-term net margins ~20%.
• DYPC near-term revenue ₹30 Cr; DYPC net margins 13–16%.

Capital Structure & Governance

• No debt or equity actions disclosed in this update.
• Managing Director: Arvind Gupta; CFO: Biplab Das.

Strategic Priorities & Outlook

• Three engines, one platform: Core + Park Smart + Ricardo.
• FY27 growth drivers: Core + Park Smart ~40% growth; Ricardo adds incremental growth.
• D2C gross margin expansion supports profitability.
• New integrated plant provides expansion runway beyond FY28.

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.