(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 (b) Service (c) Modernization

(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.

Business update 2019-20

The company has been improving share in the segment and will continue the journey to grow the share further. The product portfolio and the sales footprint has been enhanced. The Gen2 range has been consistent in performance and has captured significant share in its segment. This has helped in the overall share growth.In continuation, the company is further strengthening the Gen2 family.Otis India has launched a new products Gen2 Stream recently. They are also working for more products releases in months to come.

OTIS continues to be the largest Company in terms of service portfolio and revenue, in India.Today, they have a network of 97 service centres spread across India, serving more than 300 cities and towns. 24/7 call centre and extensive service network ensures speedy and efficient response to customers. The Company has registered healthy growth in Service revenue in the year under review.

Current Outlook 2019-20

1. Otis India has been progressing well in their effort to localize their global products at their state of art manufacturing facility in Bengaluru.

2. 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 Stream for the commercial segment.

3. India remains to be the second largest elevator-escalator market in the world after China, expected to grow at a healthy rate 5-6% for the next 5 years.