BOB Capital Markets has initiated coverage on LG Electronics India with a 'Buy' rating and a target price of ₹1,980 per share, indicating a 20% upside potential. The brokerage has valued the company at 50 times the September 2028 estimated earnings per share (EPS). According to BOB Capital Markets, LG Electronics India's nearly three-decade presence in the country has helped it establish a strong position across key consumer appliance categories, including inverter air conditioners, automatic washing machines, refrigerators and televisions. The brokerage expects LG's market leadership to remain intact over the next three years, supported by strong brand recall, premiumisation, an expanding distribution network and a steady pipeline of new products across premium as well as value segments.
LG Electronics India shares were trading at ₹1,667.70 as of September 22, 2026, representing a 0.69% increase from the previous closing price. The stock had earlier surged nearly 2% following the announcement of a new range of semi-automatic washing machines, with shares jumping to an intraday high of ₹1,684 per share on the NSE after the company filed the product launch details. However, amid broader market sentiment, the shares scaled lower to trade near the flat line at ₹1,660 per share by 2:45 pm. The new range features 15 models across 8 kg to 12 kg capacities, designed to deliver powerful washing performance, smarter convenience, durable construction and bold premium design.
The new range is manufactured at LG's Greater Noida facility in Uttar Pradesh, which operates as an Industry 5.0-centric smart factory. The plant utilizes AI-enabled operations, automation, robotics, and AGVs for production, with the company conducting 100% quality checks and AI vision inspections to ensure operational efficiency. Exports of the new AX Semi-Automatic Washing Machines are scheduled to begin in 2027, targeting over 10 countries globally. BOB Capital Markets expects increasing localisation and backward integration to provide structural support to LG Electronics India's margins, highlighting the company's manufacturing scale and upcoming Sri City facility, which could enable deeper in-house production of key components such as compressors.
BOB Capital Markets estimates LG Electronics India's revenue, EBITDA and PAT to grow at compound annual growth rates (CAGR) of 13%, 23% and 20% respectively, over FY26–FY29E. The brokerage expects this growth to be driven by rising demand for consumer appliances in India, excluding mobile phones, along with LG's ability to gain market share through new product launches, stronger distribution and its established brand franchise. While domestic sales of products such as air conditioners and refrigerators remain seasonal, BOB Capital Markets expects exports and B2B businesses to provide additional growth engines, with LG's manufacturing facilities in Sri City, Noida and Pune expected to support the parent company's 'Global South' strategy and increase the contribution from exports.
