(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
(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|
|(Loss) / Profit after taxation||-174 Lakh|
|Total Available Shares:||50|
|Face Value:||₹ 10 Per Equity Share|
|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|