(i) The company was founded in 1953 and is headquartered in Mumbai, India. Otis Elevator Company (India) Limited operates as a subsidiary of United Technologies Corporation.
(ii) Otis Elevator Company (India) Limited manufactures, Erects, Installs, Modernizes and maintains Elevators, Escalators, and moving walkways primarily in India.
(iii) The Company’s revenue accrues from three major business segments –
(a) New Equipment Sales
(b) Service
(c) Modernization:
(iv) The company has a manufacturing facility at Bengaluru.
(v) Current Outlook( Source Annual Report 2018-19)
Otis India has been progressing well in its effort to localize its global products at their state of an art manufacturing facility in Bengaluru. There are a number of products that are being planned to be launched both in the short term and long term. The launches during the last 5 years for products in Gen2 family will continue to bear traction in years to come.
They had a recent launch of Gen2 Life in the mid-rise segment. The new product has seen good customer acceptance with some significant early wins. On the Modernization front, the new products of Manual to Auto and Gen2 Mod will facilitate the growth in the modernization business.
(vi) Subsidiary OTIS Elevator Company (INDIA) Limited
Supriya Elevator (India) Company Limited is the subsidiary of the OTIS. The company holds 100% shares in the company. Its principal business is to Manufacture, erection, installation, and maintenance of elevators. The subsidiary is a loss-making company. The company has completely eroded its Net-worth in Fy18-19. The snapshot of the company financials for FY18-19 is tabulated below.
| Name of the subsidiary | Supriya Elevator Company (India) Limited |
| Share capital | 269 Lakh |
| Reserves & surplus | -1307 Lakh |
| Total assets | 360 Lakh |
| Total Liabilities | 1398 Lakh |
| Turnover | 962 Lakh |
| (Loss) / Profit after taxation | -174 Lakh |
| Total Available Shares: | 50 |
| Face Value: | ₹ 10 Per Equity Share |
| ISIN: | INE099A01014 |
| Lot Size: | 10-30 Shares |
| Current Unlisted Share Price: | ₹ 3800 Per Equity Share |
| Shareholder’s Name | No. of Shares | % of the total Shares of the company |
| UNITED TECHNOLOGIES SOUTH ASIA PACIFIC PTE LTD | 11599819 | 98.24% |
| Year | Revenue | EBITDA | EBITDA Margins | PAT | PAT Margins | Equity | FV | EPS |
| 2018 | 1,540 | 296 | 19.2% | 180 | 11.7% | 11.81 | 10 | 152.4 |
| 2019 | 1,791 | 273 | 15.2% | 171 | 9.5% | 11.81 | 10 | 144.8 |
| Year | Net-worth | Debt | ROE |
| 2018 | 619 | 1.16 | 29% |
| 2019 | 226 | 1.28 | 76% |
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828, Sector 2B, Vasundhara, Ghaziabad, Uttar Pradesh, India 201012
Market Wizard
The company has paid an interim dividend of 1750%, being INR 175 per equity share of INR 10 each fully paid up in March 2019 for the financial year 2018-19.
Market Wizard
Otis India has been progressing well in their effort to localize their global products at their state of art manufacturing facility in Bangalore. There are a number of products that are being planned to be launched both in the short term and long term. The launches during the year 2014, 2015, 2016 and for products like Gen2 Infinity, Nova MRL and Gen2 Core will continue to bear traction in years to come.In the 2nd quarter of 2017, we had new product launch for Infinity MRL and also your Company launched the new aesthetics program. On the Modernization front there was a new product Manual to Auto. With these initiatives and execution, as planned, we are now poised to see sound growth in Order booking as well as segment share improvement.
India remains to be the second largest elevator-escalator market in the world after China, expected to grow at a healthy rate 6-7% for the next 5 years. The Company management is closely monitoring and reviewing these changes to suitably modify its business strategy in accordance with the changing market environment. The Company continues to promote green products which will have a positive environmental impact. Company is confident of forging ahead without compromising on its core values, while sustaining its brand-value with its
customers.
Market Wizard
The Company paid an interim dividend of 3600%, being Rs. 360 per equity share of Rs. 10 each fully paid up in July 2017 for the financial year 2017-18.