“There was a brief pause, however the GST price minimize was efficiently applied, festive gross sales had been wonderful, pushed by premium merchandise and issues are getting higher. Commerce channel stock has normalised. All indicators are extraordinarily optimistic,” Sanjay Chitkara, chief gross sales officer at LG India, instructed ET.
Chitkara stated LG has improved complete offline gross sales market share in TV by 1.4% to 27.5%, by 1% in fridge at 29.9%, by 0.5% in AC to 17.3% whereby it even grew to become the market chief in AC. In washing machines, LG has 33.4% share and in microwave 45.4%. These figures are for the calendar 12 months to this point ending September.
LG’s EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) within the second quarter was 548 crore with an EBITDA margin of 8.9%. The corporate stated the EBITDA margin drop was a results of the mixed influence of rising commodity costs and incremental investments in festive go-to-market initiatives, to assist the corporate’s distributors throughout powerful market circumstances.
LG India’s managing director Hong Ju Jeon stated within the earnings launch that the primary half of fiscal 2025-26 introduced some macroeconomic headwinds together with a cool summer season, geo-political challenges, tariffs, and foreign exchange fluctuations.
“Regardless of this, our group in India demonstrated resilience in gross sales development, gaining market share and sustaining secure profitability….We at the moment are strategically accelerating our future development by increasing our home footprint adopted by our concentrate on ramping up exports as world circumstances normalize,” he stated.
The corporate’s dwelling equipment and AC enterprise reported marginal drop in phase income at Rs 3947.8 crore within the September quarter as in comparison with Rs 3953.2 crore in the identical interval of final 12 months. The house leisure or tv and audio product enterprise phase income grew 3% yoy at Rs 2226.1 crore within the interval below assessment. Nevertheless, phase revenue of each the companies had been impacted on a yoy foundation.
Whereas the outcomes had been declared after market hours, LG India’s share worth closed at Rs 1674.1 a chunk on the BSE on Thursday at a achieve of 1.13% whereas the benchmark Sensex closed at a marginal achieve of 0.01%.
