Annual Performance Update & Strategic Direction
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L.T. Elevator Limited reported FY26 revenue of ₹111+ crore, marking ~97% year-on-year growth from FY25 revenue of ~₹56.5 crore, and crossed the ₹100 crore annual revenue milestone for the first time. The company, listed on BSE SME in September 2025, has an order book exceeding ₹250 crore spanning smart city projects, premium residential, D2C home elevators, and government contracts. Key developments include completion of Phase 1 of a ₹43 crore multi-level car parking project in Shillong, and the ongoing merger with Ricardo Elevators which generates ~₹70 crore annualised order run-rate. An integrated manufacturing facility is expected to be commissioned in Q4 FY27. FY26 PAT and margins showed ~90% and ~75% YoY growth respectively, while H2 FY26 growth was 70% over H2 FY25.
The strong 97% revenue growth and ₹250+ crore order book provide solid revenue visibility for FY27. The Ricardo merger, expected to close during FY27, should expand retail reach and improve the combined entity's cash conversion, supporting continued rapid growth. The management commentary signals confidence in sustaining growth momentum.