LG Electronics India, the country's leading consumer durables maker across appliances, air conditioners and TVs, reports its Q2 FY 2026-2027 results with the festive season and a soft year-ago base shaping the print. The key things to watch are whether the mid-teen revenue growth and early double-digit EBITDA margin guidance holds against sharply higher copper and memory-chip costs, and confirmation of Sri City compressor production commencing this quarter.
| Results date | November 05, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 72.33 Bn (Rs. 7,233 Cr) |
| Previous quarter PAT | Rs. 6,529 Mn (Rs. 652.9 Cr) |
| Previous quarter EBITDA margin | 12.5% |
| Market cap | Rs. 114,732.9 Cr |
| CMP | Rs. 1,690.3 |
The board will meet on Thursday, November 5, 2026, to approve unaudited results for the quarter and half year ended September 30, 2026, under Regulation 29 of SEBI LODR. The trading window has been closed since October 1, 2026, until 48 hours after results declaration.
An analyst/investor call is scheduled for Friday, November 6, 2026, at 4:00 PM IST, organized by DAM Capital Advisors Ltd. Speakers are MD Mr. Hong Ju Jeon and Whole Time Director & CFO Mr. Dongmyung Seo, with the investor presentation to be filed before the call.
The quarter stacks a five-year-high festive start — first-phase appliance volume sales up 12-15% YoY and value sales up 18-23% — against a Q2 FY26 base that was suppressed by GST-transition purchase deferrals, with revenue of Rs. 61.74 Bn and an 8.9% EBITDA margin.
The margin path is the harder test: LME copper hit a record $14,617/t on September 8, 2026 (up 46.3% YoY in August) and aluminium was up 45% YoY, while DRAM and NAND prices rose 44% and 53% QoQ in calendar Q2, pressing on the Home Entertainment segment that posted a 19.0% EBIT margin in Q1 FY27.
Management's FY27 markers — mid-teen revenue growth (Q1 tracked at +15.5%) and early double-digit EBITDA margin (Q1 at 12.5%) — remain the reconciliation frame, with the rupee's drift to 95.96 by September 15 a mild import-cost headwind on the company's own ~1% margin impact per 5.6% depreciation bridge. The call is also expected to confirm Sri City compressor production commencing in Q3 FY27 and the RAC first line by October 2026 under the Rs. 5,000 crore internally-funded plan.
FY27 guidance tracking: Q1 FY27 tracked at +15.5% revenue and 12.5% EBITDA margin; watch whether Q2 FY27 sustains both against a soft Q2 FY26 base (revenue Rs. 61.74 Bn, EBITDA margin 8.9%).
Sri City third factory milestones: Compressor production was slated for Q3 FY27 (Jul-Sep 2026) — the quarter being reported — and RAC production for Q4 FY27.
Customs matters: Two customs disclosures since the last call remain open items.
Margins and input costs: The Q1 FY27 call question on raw-material trajectory and Q2 margin outlook remains to be answered.
Exports and localization: Exports grew +30% in Q1 FY27, described by management as 'in line with our targets', serving 65 countries.
Exports grew 30% in Q1 FY27, which management said was in line with its targets, serving 65 countries. Management has guided for exports to almost double in FY27 but has not quantified the full-year number or the US/Europe split.
No — management has confirmed Essential Series margins are in line with the rest of its B2C portfolio and are not margin dilutive. Over 5 lakh units were sold in the first six months of calendar 2026.
Q1 FY27 tracked at +15.5% revenue growth against the mid-teen FY27 guidance and a 12.5% EBITDA margin against the early double-digit margin guidance. The Q2 FY26 base is soft (revenue Rs. 61.74 Bn, 8.9% EBITDA margin), which flatters YoY comparisons.
The May 8, 2026 government quantitative restriction caps compressor imports at 60% for reciprocating and about 70% for rotary compressors versus FY2024-25 levels. Management views it as very positive for LG given its local compressor production at Greater Noida and Sri City, supporting revenue, margins and share in refrigerators and ACs.
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