L.T. Elevator Limited has announced the convening of an Extra Ordinary General Meeting (EGM) on June 13, 2026, to seek shareholder approval for a preferential issue of equity shares and fully convertible warrants. The meeting, to be held via video conference, will consider resolutions to increase the company's authorized share capital and alter its Articles of Association to facilitate the fundraise.

Preferential Allotment Details

The Board of Directors has approved the issuance of up to 21,27,563 equity shares and 5,31,914 fully convertible warrants on a preferential basis to non-promoter investors. The equity shares and warrants are priced at ₹188 per unit, comprising a face value of ₹10 and a premium of ₹178. The total consideration for the equity shares is expected to be up to ₹39,99,81,844, while the warrants are expected to raise up to ₹9,99,99,832.

Proposed Allottees

The securities will be allotted to a mix of institutional investors and individuals. Major allottees include Bandhan Small Cap Fund, Motilal Oswal Financial Services Limited, and Gracious Advisors LLP. The table below details the proposed allocation:

Objects of the Issue

The company plans to utilize the net proceeds for setting up a new factory, funding inorganic growth through acquisitions, and meeting general corporate purposes. The capital expenditure for the new factory is expected to be incurred during the financial year 2027-28, while funds for acquisitions are planned for 2026-27.

Capital Structure Changes

To accommodate the issuance, the company proposes to increase its authorized share capital from ₹20 crore to ₹22 crore by creating an additional 20 lakh equity shares of ₹10 each. Additionally, the Articles of Association will be altered to include enabling provisions for issuing convertible securities. The warrants are convertible into equity shares within 18 months from the date of allotment.

L.T. Elevator Limited has announced its FY26 annual performance, marking a landmark year with the company crossing the ₹100 crore revenue milestone for the first time. The company reported a total income of ₹111.70 crore for FY26, registering approximately 97% year-on-year growth compared to ₹56.70 crore in FY25. Profit after tax (PAT) stood at ₹17.00 crore, up from ₹8.90 crore in the previous year. The management attributed this growth to disciplined execution, scalable operations, and an expanding geographical reach, alongside the strategic integration of Ricardo Elevators.

FY26 Financial Performance

The following table summarises the consolidated financial performance for FY26 versus FY25. These figures do not include Ricardo Elevators, which is being reported separately as the merger is currently underway.

EBITDA = PBT + Finance Costs + D&A | Margin % as % of Total Income | All figures on consolidated basis

H2 FY26 registered 70% growth over H2 FY25. Management noted that while H2 FY25 margins were lumpy, the full-year comparison is more indicative of the company's topline and earnings trajectory.

Strategic Outlook and Capacity Expansion

During the investor conference call, management outlined aggressive expansion plans for FY27 and beyond. The company is targeting a revenue mix of approximately 35% from B2C, 30-35% from B2G, and 30% from B2B segments, with exports contributing around 5%.

A key highlight is the development of a new integrated manufacturing facility on a 6.5-acre land parcel, expected to be commissioned by Q4 FY27. The total capex for this facility is estimated at ₹25 crore, which will increase installed manufacturing capacity by approximately 2.5 times. The management targets a top-line potential of ₹350 crore to ₹400 crore from this facility by FY28-29.

Ricardo Elevators Acquisition

The merger with Ricardo Elevators is currently underway, with the filing expected by the end of May 2026. Ricardo operates on a positive working capital cycle and is currently PAT positive. Its order book stands between ₹70 crore and ₹80 crore. Management highlighted that the D2C segment offers higher gross margins of 58% to 60% compared to the 50% gross margins in the B2B/B2G segments, which is expected to be margin accretive in the long term.

Order Book and Projects

The current executable order book for L.T. Elevator and LT ParkSmart exceeds ₹250 crore, split roughly 55% elevators and 45% car parking. Notable projects include the Phase 1 completion of a ₹43 crore multi-level car parking project in Shillong, with Phase 2 execution involving approximately ₹30 crore of work scheduled for the current financial year. The company is also pursuing larger government projects, including a ₹33 crore single project and a ₹43 crore single project aimed for completion in FY27.

Conference Call Details

The investor conference call was held on Thursday, May 14, 2026, at 2:00 PM IST. Mr. Yash Gupta, Whole Time Director, represented the management to discuss the financial results and business outlook.