LG Electronics India Ltd. IPO

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LG Electronics India Ltd. IPO Details

Check out the issue details for LG Electronics India Ltd. IPO as disclosed in SEBI.

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Company Financials

You can get the following financial statements of LG Electronics India Ltd. as of now.

LG Electronics India IPO Overview

LG Electronics India Limited, a wholly owned subsidiary of South Korea’s LG Electronics Inc., is preparing for its much-awaited Initial Public Offering (IPO). Established in 1997 and converted into a public limited company in December 2024, LG India is a leading player in the Indian consumer durables space, with top market shares across key product segments such as televisions, refrigerators, air conditioners, and washing machines. The company operates major manufacturing plants in Noida and Pune and is currently developing a new Rs. 5,000 crore facility in Sri City, Andhra Pradesh, as part of its growth and localisation strategy.

The IPO will be a pure offer-for-sale (OFS) of approximately 10.18 crore shares, amounting to around 15% of the company’s equity. LG Electronics Inc., the parent company, will be the sole selling shareholder. The issue size is expected to be around Rs. 15,237 crore (about USD 1.8 billion), making it one of the largest public offerings in India in 2025. As no fresh equity is being issued, the proceeds from the IPO will go entirely to the parent company, and not to LG India itself.

Financially, the company has shown strong performance. In FY24, LG Electronics India reported revenue of Rs. 21,352 crore, up 7.5% year-on-year, and a net profit of Rs. 1,511 crore, reflecting 12% growth. In Q1 FY25 (April–June 2024), it posted revenue of around Rs. 6,796 crore and net profit of approximately Rs. 680 crore. The company maintains a healthy financial position, with zero debt, a lean working capital cycle, strong return ratios (RoCE ~45%, RoNW ~40%), and cash reserves of over Rs. 3,600 crore.

Despite its strong brand and market presence, LG Electronics India remains dependent on its parent company for research, development, and branding. It also has potential royalty-related tax liabilities under review by Indian authorities. The company faces stiff competition from global and domestic players such as Samsung, Whirlpool, Voltas, and Havells.

The IPO was filed with SEBI in December 2024 and received regulatory approval in March 2025. An updated draft red herring prospectus (DRHP) is expected to be submitted soon, with the listing anticipated later in 2025. The offering will be managed by leading investment banks including Morgan Stanley, JP Morgan, BofA Securities, Citigroup, and Axis Capital.

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 15709.6 15086.6 16834.21 19864.59 21352
Total Expenditure 13240.7 12736.7 15123.75 17963.23 19124.82
Operating Profit 2468.9 2349.9 1710.47 1901.36 2227.18
Other Income 300.1 175.4 203.8 243.99 206.67
Interest 6.1 19.8 24.34 24.63 32.36
Depreciation 241.9 243.9 258.36 300.39 364.37
Exceptional Items 0 0 0 0 0
Profit Before Tax 2521 2261.6 1631.56 1820.33 2037.12
Provision for Tax 666.6 595.1 425.96 472.31 526.05
Net Profit 1854.4 1529 1174.73 1344.93 1511.07
Adjusted EPS (Rs.) 2.73 2.46 1.78 1.99 2.23

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 113.13 113.1 113.13 113.13 113.13
Total Reserves 6278.9 6473.4 5387.62 4243.12 3659.12
Borrowings 0 0 0 0 0
Other N/C liabilities 133.9 4860.2 5391.44 5829.72 6380.15
Current liabilities 2555.9 4034.7 4462.26 5214.06 5288.28
Total Liabilities 9081.83 15481.4 15360.73 15400.02 15440.68
Assets
Net Block 834.8 1048.9 1047.48 1342.79 1318.85
Capital WIP 84.6 33.3 102.4 24.35 24.21
Intangible WIP 0 0.5 0.56 0.26 0.25
Investments 0 0 0 0 0
Loans & Advances 339.13 4833.3 5406.03 5766.72 6253.53
Other N/C Assets 2.7 65.8 84.88 91.67 83.83
Current Assets 7820.6 9499.6 8719.38 8174.23 7760.01
Total Assets 9081.83 15481.4 15360.73 15400.02 15440.68
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations 2521 2261.6 1631.56 1820.33 2037.12
Adjustment 18.6 -74.3 47.01 111.54 211.46
Changes in Assets & Liabilities 8.7 422.9 -679.11 381.43 -13.26
Tax Paid -548.3 -567.6 -401.6 -442.48 -569.85
Operating Cash Flow 2000 2042.6 597.87 1870.83 1665.46
Investing Cash Flow -106.8 30.2 -77.11 -274.37 -20.19
Financing Cash Flow -26.7 -1372.6 -2326.51 -2560.73 -2185.25
Net Cash Flow 1866.5 700.2 -1805.74 -964.27 -539.98
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