OUR BUSINESS
We are the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume for the six-month period ending June 30, 2024.
we have been the number one player in this industry for 13 consecutive years (CY2011 to CY2023) as per the value market share in the offline channel in India.
We are also market leaders in India across multiple product categories including washing machines, refrigerators, panel televisions, inverter air conditioners, and microwaves, based on the value market share in the offline channel (which is approximately 80% of the major home appliances and consumer electronics market (excluding mobile phones) in India in terms of value in the same period) for the six-month period ending June 30, 2024.
Our Company was incorporated in 1997 as a wholly owned subsidiary of LG Electronics, which is the leading singlebrand global home appliances player in terms of market share by revenue in CY2023,
We derive several benefits from our strong parentage including the “LG” brand which was listed on Interbrand’s Top 100 Best Global Brands in 2024. Our strong parentage, access to innovative technologies and commitment to quality, positions us as a trusted brand in India. “LG” was named as the Most Trusted Brand in India by Trust Research Advisory for four consecutive years (2020-2023).
We offered one of the widest product portfolios amongst leading home appliances and consumer electronics players (excluding mobile phones) in India as of June 30, 2024.
We sell products to B2C and B2B consumers in India and outside India.
We also offer installation services, and repairs and maintenance services for all our products.
We serviceconsumers through a dedicated team of 282 employees as of June 30, 2024, and 472 B2B trade partners in the
three months ended June 30, 2024, which enables us to effectively address the demands of B2B consumers.
We provide installation and repairs/maintenance services through 949 service centers across urban and rural India, supported by 12,590 engineers and four call centers, as of June 30, 2024.
We also offer same-day installations.
We had one of the largest in-house production capacity (excluding mobile phones) amongst leading home appliances and consumer electronics players in India as of June 30, 2024.
Wehave two advanced manufacturing units located in Noida (the “Noida Manufacturing Unit”) and Pune (the “PuneManufacturing Unit”).
we had an installed capacity of 13,990,000 products at our Noida and Pune Manufacturing Units collectively.
Qualitative Factors
- Leading market share in the home appliances and consumer electronics industry in India with #1 market share across key product categories.
- Introducing innovative technologies tailored to the needs of the Indian consumers.
- Shaping consumer experience with pan-India distribution and after-sales service network.
- Operational efficiency through strong manufacturing capabilities and localized supply chain.
- Parentage of LG Electronics, which is the leading single-brand global home appliances player in terms of market share by revenue in CY 2023 and strong LG brand.
- Capital efficient business with high growth and profitability.
Comparison of accounting ratios with listed industry peers
- Havells
- Voltas
- Whirlpool
- Blue Star
