Order Book (LT Elevator + ParkSmart)
250 Cr
+2.5% QoQ
Order book stands at 250 crore, with 55% elevators and 45% car parking.
LTELEVATOR
Diversified
15 May 2026
LT Elevator Ltd — Q4 FY26
LT Elevator reported a landmark FY26 with revenue of 111.7 crore, nearly doubling YoY, and PAT of 17 crore+.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
LT Elevator reported a landmark FY26 with revenue of 111.7 crore, nearly doubling YoY, and PAT of 17 crore+. Growth was driven by strong execution in government EPC projects and early traction in B2C elevators via digital channels. The company is pursuing a strategic merger with Ricardo Elevators (order book 70-80 crore) to expand D2C capabilities and has started exports to Malaysia and Australia. A new plant with 2.5x capacity (capex ~25 crore) is expected to commission by Q4 FY27, targeting 350-400 crore revenue by FY28-29. Management guided for 80%+ revenue growth in FY27, with B2C expected to contribute 35% of revenue. Key risk: government payment delays could pressure working capital if not offset by faster B2C cash cycles.
Key Numbers
Ricardo Elevators Order Book
70-80 Cr
+56% QoQ
Ricardo's order book grew from 45 crore to 70-80 crore, now being executed by LT Elevator.
B2C Elevator Monthly Exit Target
100+ units/month
New target
Management targets exiting FY27 at over 100 B2C elevator orders per month.
Export Pricing Premium
50% higher than India
N/A
Export orders (Malaysia, Australia) are priced 50% above domestic levels, with strong demand.
Management Guidance
FY27 revenue growth of 80%+
Management expects revenue to grow over 80% in FY27, driven by organic growth and Ricardo merger.
Management guidance revenueB2C to contribute 35% of revenue in FY27
B2C elevator segment is targeted to account for 35% of total revenue, up from negligible in FY26.
Management guidance growthNew plant commissioning by Q4 FY27
The new facility with 2.5x capacity (capex ~25 crore) will be operational by Q4 FY27, targeting 350-400 crore revenue by FY28-29.
Management guidance capexSustainable EBITDA margin of 25%
Management indicated that blended EBITDA margins are sustainable at around 25% going forward.
Management guidance marginsKey Risks
Government payment delays
Management noted that government payments have slowed, with March collections lower than expected, impacting working capital.
medium · management_commentaryRaw material price inflation
Steel prices have risen significantly; management has raised prices and uses escalation clauses but impact on margins remains uncertain.
medium · analyst_questionGoodwill impairment and asset spike unexplained
A 7 crore goodwill impairment and 17x increase in other current assets were noted but management could not explain them on the call.
low · analyst_questionCapacity bottleneck before new plant
Current capacity is limited to ~150-160 crore revenue; management is outsourcing and adding temporary capacity, but execution risk remains.
medium · analyst_questionNotable Quotes
We have surpassed 100 crores of revenue. Roughly our top line was 111.7 crores, representing a growth of very close to 100%.
We want to exit the financial year at 100 plus elevators per month from B2C alone.
The target is to grow roughly 80% plus this year.
Frequently Asked Questions
What was LT Elevator's revenue in Q4 FY26?
LT Elevator reported revenue of ₹112 Cr in Q4 FY26, representing a +100% change compared to the same quarter last year.
What guidance did LT Elevator management give for FY27?
FY27 revenue growth of 80%+: Management expects revenue to grow over 80% in FY27, driven by organic growth and Ricardo merger. B2C to contribute 35% of revenue in FY27: B2C elevator segment is targeted to account for 35% of total revenue, up from negligible in FY26. New plant commissioning by Q4 FY27: The new facility with 2.5x capacity (capex ~25 crore) will be operational by Q4 FY27, targeting 350-400 crore revenue by FY28-29. Sustainable EBITDA margin of 25%: Management indicated that blended EBITDA margins are sustainable at around 25% going forward.
What are the key risks for LT Elevator in FY27?
Key risks include Government payment delays — Management noted that government payments have slowed, with March collections lower than expected, impacting working capital.; Raw material price inflation — Steel prices have risen significantly; management has raised prices and uses escalation clauses but impact on margins remains uncertain.; Goodwill impairment and asset spike unexplained — A 7 crore goodwill impairment and 17x increase in other current assets were noted but management could not explain them on the call.; Capacity bottleneck before new plant — Current capacity is limited to ~150-160 crore revenue; management is outsourcing and adding temporary capacity, but execution risk remains..
Did LT Elevator meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full LT Elevator Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.