LG Electronics India (LGEINDIA) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue reached INR 73,800.45 million, up 19.5% YoY, marking a second consecutive quarter of double-digit growth.

• Growth was broad-based across categories, supported by volume, premium mix, exports and festive-season channel preparation.

• The Board approved entry into Vehicle Solutions, subject to shareholder approval of the MOA change.

Financial highlights

• Q2 EBITDA was INR 7.01bn, up 28% YoY; profit for the period was INR 4,893.48 million versus INR 3,894.34 million.

• H1 revenue was INR 146,133.95 million versus INR 124,369.66 million; profit for the period was INR 11,422.11 million versus INR 9,026.89 million.

• Q2 consolidated EBIT was INR 5.78bn, with a 7.8% margin versus 7.4% in Q2 FY26.

• Q2 basic and diluted EPS were INR 7.21 each; H1 basic and diluted EPS were INR 16.83 each, not annualised.

• Q2 operating cash flow was negative INR 1.64bn versus positive INR 0.86bn in Q2 FY26; working-capital changes were negative INR 6.72bn.

Outlook and guidance

• FY27 guidance remains mid-teens revenue growth and an early double-digit EBITDA margin; management aims to outperform guidance and the industry.

• Management expects the coming two quarters to outperform H1, supported by festive and wedding demand, exports and category momentum.

• Q3 demand outlook is positive, with premium, energy-efficient and larger-capacity appliances, larger-screen TVs and Information Display orders expected to support the festive quarter.

• Sri City compressor manufacturing is expected to begin in Q3 FY27; festive channel investments are intended to support sell-out across categories.

• No specific margin guidance was given; long-term profitability is linked to localization, premiumization, scale, operational efficiencies and portfolio diversification.