L. T. ElevatorShare price, financial results, shareholding and management
- Market cap
- ₹650 cr
- Stock P/E
- 38.2peers 28.1
- Book value
- ₹43.3
- Price to book
- 7.06
- EV / operating profit
- -
- Market cap to sales
- 5.84
- ROCE · FY26
- 29.3%
- ROE · FY26
- 24.7%
- ROE, 3-year average
- 27.0%
- Operating margin · FY26
- 23.6%peers 15.7%
- Sales growth, 3 years
- 48.5%
- Profit growth, 3 years
- 157.2%
- Debt to equity
- 0.22peers 0.41
- Borrowings
- ₹20 cr
- Interest cover
- 15.3×
- Cash from business / op. profit
- -65%
- Debtor days
- 150
- Pledged
- 0.00%
- Promoter holding
- 56.78%
- Change in promoter holding
- -6.14 pts
- Shareholders
- 1,179
- 52-week high / low
- ₹380 / ₹141
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
L. T. Elevator share price chart
Close on 6 Nov 2026 · -1.93% on the day · Vol 25,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -6.9%
- 3 months
- -2.1%
- 6 months
- +65.3%
- 1 year
- +112.8%
- Traded a day, 20 days
- ₹1.19 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +102% | +143% |
| 3 years, a year | +49% | +157% |
| Latest half, H2 FY26 | +74% | +32% |
About L. T. Elevator: business, products and customers
L.T. Elevator makes and installs lifts for buildings and homes, and through a subsidiary builds automatic multi-level car parks, mostly for government bodies and property developers in eastern India. Its works are near Kolkata and its shares trade on BSE SME.
L.T. Elevator makes passenger, goods, home and hospital lifts at two works in Maheshtala near Kolkata, installs them and earns a steady income from servicing them. Its wholly owned subsidiary Park Smart Solution builds mechanised car parks that stack cars in towers, and has worked on smart city car parks in Shillong and with large developers such as Tata Realty and Godrej.
How the customer pays shapes the numbers. Government and developer projects are billed against milestones with little or no advance, and the company says government bills now take three to four months to clear, so a fast growing order book ties up money in stock and unpaid bills; government work is also billed mostly in the second half, which makes halves uneven. Home lift buyers pay about half the price before production starts, so the company is pushing that channel to ease its need for working capital.
Read more about the business
In 2026 the company began selling home lifts direct to buyers through Ricardo Elevators of Hyderabad, now being bought by a share swap, opened 21 sales offices across India and began exporting to Malaysia and Australia under the Ricardo name. It has also agreed to acquire Dongyang PC, a Seoul maker of rotary car parking systems with patents and sales in many countries, and is building a larger plant on 6.5 acres about two hours from Kolkata.
The documents do not name listed rivals. The company says its home lift rivals are a few regional makers in each part of India, many of whom source kits from other makers rather than make their own, and that its export rivals are Chinese lift makers.
From the offer document (red herring prospectus, 2025), the FY26 annual report, the August 2026 investor presentation and the May 2026 earnings call transcript.
Read the deeper study ↓In its favour
- Sales have grown fast: 49% a year over three years.
- It earns a high return on the money it uses: ROCE 29% in FY26.
- It has little debt for its size: debt to equity 0.22.
To watch
- Revenue growth against the aim of about 80% or more for FY27 (Transcript May 2026, p.14).
- The new plant, due to be running by March 2027 (Transcript May 2026, p.6 and p.14).
- Completion of the Ricardo share swap and the Dongyang PC purchase (Annual report FY26, p.20 and p.42; Presentation Aug 2026, p.1).
- Collection of government bills, which took three to four months in FY26 (Transcript May 2026, p.7 and p.11).
- The promoters' share has come down: 56.78%, from 62.92%.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
L. T. Elevator revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
L. T. Elevator half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 20 | 37 | 46.89 | 64.45 |
| Expenses | 17 | 24 | 36.99 | 48.45 |
| Operating profit | 2 | 12 | 9.91 | 16 |
| OPM | 13.0% | 34.0% | 21.1% | 25.0% |
| Interest | 1 | 1 | 0.93 | 1 |
| Depreciation | 0 | 0 | 0.43 | 1 |
| Profit before tax | 2 | 11 | 8.65 | 15.34 |
| Net profit | 1 | 8 | 6.46 | 10.57 |
L. T. Elevator profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 32 | 25 | 34 | 40 | 55 | 111.34 |
| Expenses | 28 | 24 | 31 | 33 | 42 | 85.02 |
| Operating profit | 4 | 2 | 4 | 7 | 13 | 26.33 |
| OPM | 13.0% | 7.0% | 11.0% | 17.0% | 23.0% | 23.6% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0.39 |
| Interest | 2 | 1 | 2 | 1 | 2 | 1.68 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1.05 |
| Exceptional and other items | 1 | · | 1 | · | · | · |
| Profit before tax | 2 | 0 | 2 | 5 | 10 | 23.98 |
| Tax rate | 50.0% | -9.0% | 50.0% | 40.0% | 30.0% | 29.0% |
| Net profit | 1 | 0 | 1 | 3 | 7 | 17.02 |
| EPS ₹ | 183.86 | -56.88 | 2.71 | 6.88 | 5.11 | 8.88 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
A tax rate above 60% or below zero (FY22) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
L. T. Elevator profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 13.0% | 7.0% | 11.0% | 17.0% | 23.0% | 23.6% |
| Tax rate | 50.0% | -9.0% | 50.0% | 40.0% | 30.0% | 29.0% |
| ROCE | · | 4.7% | 19.0% | 25.5% | 27.3% | 29.3% |
| ROE | · | 0.0% | 14.2% | 31.6% | 24.6% | 24.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
L. T. Elevator debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
L. T. Elevator balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.08 | 0.08 | 5 | 5 | 14 | 19 |
| Reserves | 7 | 6 | 3 | 6 | 32 | 73 |
| Net worth | 7.08 | 6.08 | 8 | 11 | 46 | 92 |
| Borrowings | 15 | 14 | 14 | 14 | 17 | 20 |
| Other liabilities | 15.92 | 17.92 | 21 | 18 | 24 | 30 |
| Total liabilities | 38 | 38 | 43 | 43 | 87 | 142 |
| Fixed assets | 13 | 12 | 11 | 8 | 19 | 21 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 25 | 26 | 32 | 35 | 68 | 121 |
L. T. Elevator cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | · | 4 | 3 | -3 | -4 | -17 |
| Cash from investing | · | -1 | -1 | 2 | 6 | 23 |
| Cash from financing | · | -2 | -2 | 1 | -2 | 1 |
| Net cash flow | · | 1 | 0 | 0 | 0 | 7 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 130 | 129 | 126 | 104 | 147 | 150 |
| Inventory days | 143 | 249 | 178 | 238 | 479 | 226 |
| Days payable | 136 | 154 | 163 | 120 | 105 | 62 |
| Cash conversion cycle | 137 | 224 | 141 | 221 | 520 | 315 |
| Working capital days | -31 | -90 | -72 | -6 | 139 | 186 |
L. T. Elevator peers and competitors
Listed SME companies in the same industryBy sales, L. T. Elevator is number 23 of the 55 listed SME companies in industrial manufacturing.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Captain Technocast | 546 | 42.0 | 130 | 13 | 13.0% | 0.38 |
| FX Multitech | 182 | 15.1 | 126 | 12 | 15.0% | 0.68 |
| Gabion Technologies India | 172 | 21.5 | 115 | 8 | 15.0% | 0.77 |
| L. T. Elevator | 650 | 38.2 | 111 | 17 | 23.6% | 0.22 |
| Apollo Techno Industries | 123 | 11.1 | 110 | 11 | 13.0% | 0.30 |
| Cospower Engineering | 553 | 42.5 | 107 | 13 | 21.0% | 0.60 |
| Kwick Forensic Solutions | 490 | 35.0 | 106 | 14 | 18.0% | 0.00 |
| SpectraA Technology Solutions | 338 | 28.1 | 101 | 12 | 19.0% | 1.08 |
| Taurian MPS | 546 | 33.7 | 99.3 | 16.2 | 24.9% | 0.28 |
| Shri Balaji Valve Components | 108 | 12.6 | 96.8 | 8.6 | 16.4% | 0.43 |
| Sona Machinery | 42 | - | 84.5 | -3.5 | -4.1% | 0.11 |
| Median of the 10 others | 260 | 28.1 | 107 | 12 | 15.7% | 0.41 |
L. T. Elevator shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Foreign and Indian funds own a noticeable share. The number of shareholders has grown a lot.
L. T. Elevator shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Mar 26 | Jul 26 | |
|---|---|---|---|
| Promoters | 62.92% | 62.92% | 56.78% |
| Foreign investors (FIIs) | 2.18% | 0.00% | 0.00% |
| Indian institutions (DIIs) | 9.24% | 8.68% | 12.95% |
| Number of shareholders | 619 | 711 | 1,179 |
L. T. Elevator study: the business from its own documents
Read from 8 of the company's own documentsL. T. Elevator key facts from the filings
Each figure with the document it comes from
- Revenue
- ₹111.7 cr
- FY26 revenue, close to double the year before and the first year above ₹100 cr; profit after tax was over ₹17 cr.Transcript May 2026, p.3
- Order book
- About ₹250 cr
- Orders for L.T. Elevator and Park Smart in May 2026, split about 55% lifts and 45% car parking, more than two years of FY26 sales.Transcript May 2026, p.5 and p.11; our arithmetic
- Ricardo orders
- ₹70 cr to ₹80 cr
- Home lift orders taken under the Ricardo brand, made by L.T. Elevator since about April 2026 and not yet in the reported figures.Transcript May 2026, p.11 and p.12
- Government share
- 43% to 44%
- Share of FY26 revenue from government projects; direct home lift sales were almost nil that year.Transcript May 2026, p.15
- Government bills
- 3 to 4 months
- Time the company says government bills now take to be paid after invoicing, usually with no advance.Transcript May 2026, p.7 and p.17
Show 5 more facts
- New plant
- About ₹25 cr
- Total spend on the new plant, which the company says can support ₹350 cr to ₹400 cr of sales and should be running by March 2027.Transcript May 2026, p.3 and p.6
- Lift capacity in use
- 62%
- Use of the 800 lifts a year capacity in FY25, up from 44% two years before; the car park unit ran at 71%.Offer document, p.143
- Top ten customers
- 27.55%
- Share of FY25 revenue from the ten largest customers, with the top five at 21.40%.Offer document, p.130
- Korean deal
- 66.45%
- Stake in Dongyang PC of Seoul being bought at USD 2.85 a share, to reach full ownership after a buyback; it holds 12 patents and has supplied 35 countries.Presentation Aug 2026, p.1 and p.6
- New shares
- 21,00,078
- Shares allotted with 5,31,914 convertible warrants by preferential issue on 27 July 2026; Ricardo is to be paid with up to 4,61,000 more shares.Annual report FY26, p.20 and p.42
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In May 2026 Yash Gupta said the company aims to grow revenue by about 80% or more in FY27 with EBITDA margins similar to FY26, and called it generally a 25% EBITDA margin business. The company targets about 35% of FY27 sales from home lifts sold direct, 30% to 35% from government, about 30% from developers and about 5% from exports, wants to exit the year at more than 100 home lifts a month, and aims to reach the new plant's ₹350 crore to ₹400 crore by FY28 or FY29. It expects to finish about ₹30 crore of Shillong phase two work and two government projects of ₹33 crore and ₹43 crore during FY27.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
L.T. Elevator earns money by making, installing and servicing lifts and car parks, with large government and developer projects driving most of its recent growth.
Its weak spots are slow government payments that tie up cash, uneven halves, and several deals and a new plant all under way at once.
AverageCan it set its own prices?Partly. It raised its list prices when steel rose and government contracts let it claim some cost increases, but it does not hedge its raw materials.
AverageHow strong is it against rivals?It makes its own lifts and now sells across India, which most small rivals cannot match, but it holds no patents of its own and faces Chinese makers abroad.
AverageWho are its customers?A mix of government bodies, large developers and now home owners, with no customer dominant, but government is a big and slow paying share.
WatchDoes it need a lot of money?Yes, for now. Project work is paid late, so growth needs working capital, and the new plant and acquisitions add to the demand.
StrongCan it keep finding new work?Its order book is large next to its sales, and home lift orders through Ricardo are adding fast.
WatchDo good and bad years swing a lot?Within a year, yes. Government work is billed mostly late in the year, so the first half is much smaller and margins move between halves.
Who runs L. T. Elevator?
Promoters, directors and officers; tap a name for the background
AGArvind GuptaPromoter and Managing Director
With the company since it was formed and managing director since July 2024; more than 38 years in lifts, parking and construction, and responsible for production and business development. Attended the University of Calcutta for a commerce degree.
Offer document, p.161 and p.172; Annual report FY26, p.35UGUsha GuptaPromoter and Whole-Time Director
With the company since August 2008 and more than 13 years in management and administration; responsible for customer relationships and administration. The offer document records Usha Gupta as the spouse of Arvind Gupta.
Offer document, p.161 and p.162; Annual report FY26, p.35YGYash GuptaPromoter and Non-Executive Director
A B.Tech graduate of The LNM Institute of Information Technology with a postgraduate diploma in management from an Indian Institute of Management; earlier chief production manager of the company and managing director of the subsidiary Park Smart Solution. The offer document records Yash Gupta as the son of Arvind Gupta and Usha Gupta. Led the May 2026 earnings call.
Offer document, p.161, p.162 and p.172; Transcript May 2026, p.2BDBiplab DasChief Financial Officer
A commerce graduate of the University of Calcutta; with the company since 2008 as head accountant and chief financial officer since May 2024.
Offer document, p.169JBJayanta BasuIndependent Director
A chartered accountant and commerce graduate of the University of Calcutta who has also cleared the company secretaries' professional examination; over 39 years in accounts and finance, now in practice. Chairs the audit committee.
Offer document, p.162 and p.166; Annual report FY26, p.35APAnoop PooniaIndependent Director
An engineering graduate of The LNM Institute of Technology with a master's in international business from the Indian Institute of Foreign Trade; co-founder and director of Veris: Digicred Technologies.
Offer document, p.162; Annual report FY26, p.35L. T. Elevator latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹64.5 cr (+74%), net profit ₹10.6 cr (+32%) on H2 FY25.
- Shareholding, 31 July 2026: promoters 62.92% to 56.78%.
L. T. Elevator announcements
4 on record, latest first; each opens the filing on the exchange
- Company UpdateNewspaper Publication- Business StandardPDF ↗
- Company UpdateCertificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September 2026PDF ↗
- OthersOutcome of Board Meeting pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,PDF ↗
- Insider Trading / SASTIntimation of Trading-window closure for Declaration of Unaudited Standalone & consolidated Financial Result for half year ended on 30th September 2026PDF ↗
L. T. Elevator annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 May 2026 ↗read
- 31 Jan 2026 ↗read
- 30 Sept 2026 ↗read
- 31 Aug 2026 ↗read
- 31 Jan 2026 ↗read
L. T. Elevator share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on L. T. Elevator's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,12,63,133 shares).
- !The FY26 results imply 1,90,00,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY21 (₹183.86) and FY23 (₹2.71) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about L. T. Elevator
What does L. T. Elevator do?
L.T. Elevator makes and installs lifts for buildings and homes, and through a subsidiary builds automatic multi-level car parks, mostly for government bodies and property developers in eastern India. Its works are near Kolkata and its shares trade on BSE SME.
What is the share price of L. T. Elevator?
₹306 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of L. T. Elevator?
₹650 cr at the close on 6 Nov 2026, on 2,12,63,133 shares.
What is the P/E of L. T. Elevator?
38.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are L. T. Elevator's revenue and profit?
Revenue ₹111 cr and profit after tax ₹17 cr in FY26.
Who are the promoters of L. T. Elevator?
Arvind Gupta, Usha Gupta, Yash Gupta; promoters held 56.78% at 31 July 2026.
What is L. T. Elevator's website?
www.ltelevator.com
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Built from 3 investor presentations, 2 earnings call transcripts, 2 annual reports, 1 offer document, 4 exchange announcements, 3 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.