LG Electronics India IPO: How does it fare against Samsung, Whirlpool, and Voltas? Check key metrics – News Air Insight

LG Electronics India has lit up Dalal Street with its blockbuster Rs 11,607-crore IPO, one of the year’s largest, with the Street already buzzing with optimism. Analysts across brokerages have issued positive calls, highlighting the company’s strong track record. According to its red herring prospectus, LG has outpaced listed peers on most key metrics. Here’s what to watch as the Indian arm of the South Korean giant debuts on Tuesday, October 14.

Key Ratios

LG Electronics India has demonstrated robust financial performance compared with listed industry peers such as Havells, Voltas, Whirlpool, and Blue Star, with several key metrics standing out. Its earnings per share (EPS) for FY25 stood at Rs 32.46 (basic and diluted), the highest in the group, compared with Whirlpool at Rs 28.30 and Blue Star at Rs 28.76. LG’s return on net worth (RoNW) for FY25 was a healthy 37.13%, significantly outperforming peers; Blue Star posted 19.27%, while Havells and Voltas trailed at 17.63% and 12.76%, respectively, according to LG’s RHP.

Financials vs Peers

In FY25, LG Electronics India posted revenue from operations of Rs 24,367 crore, comfortably higher than peers such as Havells, Voltas, Blue Star, and Whirlpool, according to company data. Its EBITDA margin stood at nearly 13%, compared with Havells India at 9.78% and Voltas, Blue Star, and Whirlpool at 7% each. Net profit for LG was Rs 2,203 crore, followed by Havells India at Rs 1,470 crore.

In Q1 FY26, the company reported revenue from operations of Rs 6,262.93 crore and an EBITDA margin of 11.44%, outperforming listed peers: Havells India (Rs 5,455 crore, 9.45%), Voltas (Rs 3,938.60 crore, 3.88%), Blue Star (Rs 2,982.26 crore, 6.66%), and Whirlpool of India (Rs 2,432.20 crore, 8.68%).

In FY24, LG’s EBITDA margin was the best among listed and unlisted players at 10.42%, followed by Havells India (9.9%) and Samsung India Electronics (9.31%). Interestingly, Samsung’s net profit at Rs 8,189 crore was significantly higher than LG’s Rs 1,511 crore for the same year.

What are analysts saying?

Brokerages are optimistic about LG India’s IPO debut. SBI Securities has given a “Subscribe” rating, citing the company’s strong growth visibility, innovation pipeline, and deep distribution network.

At Rs 1,140 per share, LG trades at a P/E of 35.1x FY25 earnings, which analysts consider fair compared to peers, given its dominant market positions: washing machines (33.5%), refrigerators (29.9%), air conditioners (20.6%), and microwaves (51.4%).

Choice Broking has also given a “Subscribe” rating, highlighting the company’s competitive edge, noting that “LG Electronics India is the number one offline market player in major home appliances and consumer electronics (excluding mobile phones) in India.”

In terms of valuations, LG’s P/E of 35 is significantly lower than 48–65 for peers such as Whirlpool of India, Havells India, Voltas, and Blue Star.

GMP Trends

The grey market premium (GMP) for LG Electronics IPO stood at Rs 315 as of October 7, 2025, Based on the price band of Rs 1,140, the estimated listing price is around Rs 1,455 per share, indicating an expected gain of approximately 27.6% per share.

However, investors should note that the GMP is driven by market sentiment and can fluctuate sharply. It is an indicative figure and may not accurately reflect the actual listing price.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)