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Company Overview
Founded in 1853, Otis Elevator Company is a global leader in the design, manufacturing, installation, and service of elevators, escalators, and moving walkways. With a rich history spanning over 170 years, Otis is renowned for its innovative technologies and commitment to safety, reliability, and sustainability.
Core Business Areas
Elevators:
Otis designs and manufactures a wide range of elevator systems, including traction and hydraulic elevators, which cater to residential, commercial, and industrial applications.Escalators and Moving Walkways:
The company provides advanced escalator and moving walkway solutions for high-traffic areas, ensuring smooth and efficient vertical transportation.Modernization Services:
Otis offers modernization solutions to upgrade existing elevator and escalator systems, enhancing their performance, safety, and energy efficiency.Maintenance and Repair Services:
With a robust service network, Otis provides comprehensive maintenance and repair services to ensure the optimal performance and longevity of their products.
Innovative Technology
Otis is at the forefront of elevator and escalator technology, integrating digital solutions and IoT capabilities into their products. Notable innovations include:
- Gen2® Technology: A revolutionary elevator system that utilizes a patented flat-belt technology for smooth and efficient operation.
- Smart Elevators: Equipped with IoT technology, Otis’s smart elevators offer predictive maintenance, real-time monitoring, and enhanced user experience.
- ReGen™ Drives: Energy-efficient systems that generate electricity during elevator descent, contributing to reduced energy consumption.
Global Presence
Otis operates in more than 200 countries and territories, with a workforce of approximately 69,000 employees worldwide. The company’s extensive network includes:
- Manufacturing Facilities: Strategically located plants for efficient production and supply chain management.
- Service Centers: Over 1,500 service locations providing rapid response and support to customers globally.
Commitment to Sustainability
Otis is dedicated to sustainability and reducing its environmental footprint. The company focuses on:
- Energy Efficiency: Developing products that consume less energy and utilize renewable energy sources.
- Sustainable Practices: Implementing eco-friendly manufacturing processes and reducing waste in operations.
- Community Engagement: Supporting initiatives that promote sustainable urban development and transportation.
Financial Performance
As a publicly traded company, Otis Elevator is listed on the New York Stock Exchange (NYSE: OTIS). The company has demonstrated consistent financial performance, with a focus on growth in emerging markets and modernization services.
- Revenue Growth: Otis continues to expand its market share through innovation and customer-centric solutions.
- Investment in R&D: A significant portion of revenue is reinvested into research and development to drive technological advancements.
Fundamentals
Promoters & Managements
| Name | Designation |
|---|---|
| Sebi Joseph | Chairman, MD |
| Suma Puthan Naduvakkat | Whole-time Director |
| Bharat Kumar Nayak | Whole-time Director & CFO |
Profit & Loss
| Item | 2022 | 2023 |
|---|---|---|
| Revenue | 1992 | 2481 |
| Cost of Material Consumed | 998 | 1302 |
| Gross Margins | 48.74 | 46.53 |
| Change in Inventory | 0 | 0 |
| Employee Benefit Expenses | 391 | 445 |
| Other Expenses | 369 | 486 |
| EBITDA | 189 | 202 |
| OPM (Operating Profit Margin) | 9.71 | 8.3 |
| Other Income | 45 | 46 |
| Finance Cost | 4 | 6.58 |
| Depreciation & Amortization | 29 | 27 |
| EBIT (Earnings Before Interest & Taxes) | 160 | 175 |
| EBIT Margins | 8.22 | 7.19 |
| PBT (Profit Before Tax) | 198 | 212 |
| PBT Margins | 10.17 | 8.71 |
| Tax | 52 | 58 |
| PAT (Profit After Tax) | 146 | 154 |
| NPM (Net Profit Margin) | 7.5 | 6.32 |
| Earnings Per Share (Diluted) | 123.62 | 130.4 |
Balance Sheet
| Assets | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 73 | 80 |
| CWIP (Capital Work in Progress) | 2.6 | 6.6 |
| Investments | 0 | 0 |
| Trade Receivables | 420 | 455 |
| Inventory | 247 | 264 |
| Other Assets | 915.21 | 951 |
| Total Assets | 1657.81 | 1756.6 |
| Liabilities | 2022 | 2023 |
|---|---|---|
| Share Capital | 11.81 | 11.81 |
| Face Value (FV) | 10 | 10 |
| Reserves | 225 | 207 |
| Borrowings | 0 | 0 |
| Trade Payables | 490 | 530 |
| Other Liabilities | 931 | 1008 |
| Total Liabilities | 1657.81 | 1756.81 |
Cash Flow Statement
| Item | 2022 | 2023 |
|---|---|---|
| PBT | 198 | 212 |
| OPBWC | 198 | 219 |
| Change in Receivables | -3.56 | -36 |
| Change in Inventories | -90 | -17 |
| Change in Payables | 126 | 34 |
| Other Changes | 35 | 61 |
| Working Capital Change | 67.44 | 42 |
| Cash Generated From Operations | 265.44 | 261 |
| Tax | -72 | -59 |
| Cash Flow From Operations | 193.44 | 202 |
| Purchase of PPE | -8.79 | -22 |
| Sale of PPE | 0.66 | 0 |
| Cash Flow From Investment | 11.87 | -2 |
| Borrowing | -16 | -14 |
| Dividends | -159 | -177 |
| Equity | 0 | 0 |
| Others From Financing | 0 | -4 |
| Cash Flow from Financing | -175 | -195 |
| Net Cash Generated | 30.31 | 5 |
| Cash at the Start | 506 | 535 |
| Cash at the End | 536.31 | 540 |
Share Holding Pattern
Ownership | 2022 | 2023 |
Otis International Asia Pacific Pte. Ltd. | 98.24% | 98.24% |
Others | 1.76% | 1.66% |
