LG Electronics held its 29th annual general meeting on August 21, 2026. The virtual gathering saw shareholders approve the company’s audited financial statements for the fiscal year ended March 31, 2026.

The meeting was conducted through video conferencing or other audio-visual means in compliance with Ministry of Corporate Affairs and SEBI circulars. A total of 161 shareholders attended the session, which began at 11:00 am and concluded at 12:30 pm.

Key Resolutions Passed

Shareholders voted to adopt several ordinary and special business resolutions during the proceedings. The approved items included:

• Adoption of the audited financial statements for FY26 along with the Board and Auditors’ reports
• Reappointment of Mr. Hong Ju Jeon as a director upon retirement by rotation
• Appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP as Statutory Auditors
• Ratification of the Cost Auditor’s remuneration
• Appointment of M/s Dhananjay Shukla & Associates as Secretarial Auditors

Management Presence

Mr. Daehyun Song, Chairperson of the Board, presided over the meeting. Other senior management personnel present included Mr. Hong Ju Jeon, Managing Director, and Mr. Dongmyung Seo, Whole Time Director and Chief Financial Officer.

Independent directors present were Mr. Santosh Kumar Mohanty, Ms. Promila Bhardwaj, and Mr. Ramesh Ramachandran Nair. Senior management representatives Mr. Sanjay Chitkara and Mr. Atul Khanna also attended to brief members on business performance.

Audit and Compliance

The Company Secretary confirmed that the Statutory Auditors’ Report and Secretarial Auditor’s Report contained no qualifications or adverse remarks. M/s. Price Waterhouse Chartered Accountants LLP served as Statutory Auditors for the period under review.

Remote e-voting was facilitated via NSDL from August 18 to August 20, 2026. Voting remained open during the meeting and for 30 minutes post-conclusion. The consolidated Scrutinizer’s Report will be filed with stock exchanges within stipulated timelines.

LG Electronics India Limited reported a ₹6,528.63 million net profit for the quarter ended June 30, 2026, up from ₹5,132.55 million in the same period last year. Revenue climbed to ₹72,333.50 million, compared to ₹62,629.38 million year-on-year. The results were approved by the Board of Directors on August 13, 2026, with the earnings call held on August 14, 2026.

Key financial metrics

The table below summarises LG Electronics' Q1FY27 performance against the year-ago period:

Segment performance

The Home Appliance and Air Solution segment revenue stood at ₹55.77 billion, growing 13.6% year-on-year. Segment EBIT grew around 13.8% to approximately ₹6.4 billion, with margins steady at 11.5%. Premium categories like French door refrigerators and large capacity washing machines drove growth, alongside the Essential series which crossed half a million units sold between January and June.

The Home Entertainment segment recorded revenue of ₹16.57 billion, a robust growth of 22.3%. Segment EBIT grew an exceptional 48.5% year-on-year, with margins expanding to 19%. This was driven by premiumization in large-screen televisions and strong momentum in the Information Display business.

Export and operational updates

Exports delivered a 30% growth in the quarter, reaching over 61 countries. Management highlighted that exports are margin accretive compared to domestic sales. The company is expanding its global footprint, having grown from 45-47 countries at the time of its IPO to 65 countries currently.

Localization rates for the last full year were at 55.2%, with a target to reach 65% over the next three to four years. The third manufacturing plant at Sri City, Andhra Pradesh, remains on track with compressor production commencing in Q3FY27 and room air conditioner production in Q4FY27. Capital expenditure for the quarter was ₹7.36 billion, of which ₹5.88 billion was deployed at Sri City.

Balance sheet and working capital

Working capital as of June 30, 2026, stood at ₹12.56 billion, reflecting optimized channel inventory. Cash and bank balance stood at ₹57.07 billion, providing flexibility to fund the Sri City investment through internal accruals without external borrowings. Management stated that dividend plans will be reviewed as the investment progresses and cash generation strengthens.

What the Numbers Show

EBITDA grew by 26.2% to ₹9.04 billion (up from ₹7.16 billion), outpacing the 15.5% revenue growth. This divergence indicates significant operating leverage and improved product mix. With PAT margins at 8.9% and EBITDA margins expanding by 110 basis points to 12.5%, the company successfully passed on input cost inflation through calibrated price increases while maintaining volume growth across all key categories.