Motilal Oswal Maintains 'Buy' Rating for LG Electronics India, Sees Target Price of Rs 1,860

LG Electronics India (LGEL) Research Report

Key Highlights

• Demand Trends: Strong growth in demand trends, with healthy Jan-Mar'26 growth and a positive summer outlook.
• LPG Availability: Secure LPG availability, with alternate fuels ensuring minimal disruption.
• Capacity Utilization: Management is well-prepared for summer demand, with capacity utilization expected to remain healthy.

Outlook

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LGEL's management indicated a positive outlook, supported by a pickup in secondary sales from April'26. We reiterate a BUY rating on the stock and value it at 45x FY28E EPS, arriving at a target price of INR1,860.