L T Elevator Ltd

BSE: 544518

₹ 310.9-5.00%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 661 crWebsite: www.ltelevator.com/Updated: 24 Oct 2026

About

L T Elevator Ltd makes elevators and, through Park Smart, parking systems. It sells to both government (B2G) and retail (B2C) buyers. In FY26 it reported revenue of 111.34 (Rs crore). It agreed to buy Ricardo, a home-elevator brand that sells directly to consumers (D2C), and says more than 50% of its elevator orders already come from outside East India.^[1][2]

Business segments

As of Q3 FY26, the company has two businesses, parking (Park Smart) and elevators, and management expects a net margin of about 13-16% from each.^[2]
As of Q3 FY26, the B2C business collects 95-100% of payment before anything ships from the factory. This offsets the high receivables in the B2G business.^[2]

Operations and capacity

As of Q3 FY26, the existing plant can support about Rs170-180 cr of revenue. The plant moved from one shift to two, and the company will outsource components.^[2]
As of Q3 FY26, management gave an execution lead time of 6-8 months.^[2]

Customers and distribution

As of Q3 FY26, 50% or more of elevator orders come from outside East India. Management says this would be about 70-80% once Ricardo is included.^[2]
Ricardo brings 18 experience centres, and the plan is to grow this to about 30 (Q3 FY26 call).^[2]
Management aims for B2C to make up 50-60% of the mix by FY28 (Q3 FY26 call).^[2]

Ricardo Elevators acquisition

In Q3 FY26 the company signed a term sheet to acquire Ricardo, a D2C home-elevator brand. Ricardo had FY25 revenue of about Rs5.5 cr and PAT of Rs30-35 lakh.^[2]
As of Q3 FY26, Ricardo gets 2,000-2,500 enquiries a month and 50-60 orders a month, up from 20-25 a month the year before.^[2]
As of Q3 FY26, Ricardo had an order book of Rs46 cr, built on digital ad spend of Rs10-12 lakh.^[2]
The company planned to file for the merger right after its March 2026 results, with 2-3% equity dilution (Q3 FY26 call).^[2]
Management targets an execution run-rate of Rs60-70 cr for Ricardo in FY27 (Q3 FY26 call).^[2]

Expansion and capex

A new plant with Rs300-400 cr of revenue capacity is planned to go live between December 2026 and March 2027. Management said the capex may be larger (Q3 FY26 call).^[2]
Management expects to need to produce about 1,500-2,000 elevators in FY28 (Q3 FY26 call).^[2]
A preferential equity raise is planned for when markets improve, to fund the larger capex (Q3 FY26 call).^[2]

Recent developments

On September 6, 2026, company officials held one-to-one meetings at the Alpha Ideas SME Stars 2026 conference.^[3]

Market Cap

₹661 Cr

High / Low

₹380 / 136

Stock P/E

36.9

Price / Book

0.0

Book Value

₹48

EPS

₹8.9

No. of Shares

1.92 Cr

ROCE

22.9%

ROE

18.4%

OPM

23.0%

Debt / Equity

0.21

Sales

₹111 Cr

Net Profit

₹17 Cr

Promoter holding

56.8%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials