LG Electronics vs Havells vs Voltas vs Blue Star: Which Appliance Brand Stock Is The Smart Investors' Pick?

LG Electronics vs Havells vs Voltas vs Blue Star: LG Electronics India Limited made a stellar debut on Dalal Street on Tuesday, listing at nearly a 50% premium on both NSE and BSE. With this strong entry in the household appliances segment, investors now have an exciting opportunity to compare industry leaders, LG Electronics, Havells, Voltas, and Blue Star, to assess which stock holds the greatest potential for long-term returns.

LG Electronics share price remained stable after making a strong entry into the Indian stock market on Tuesday. The company's share price is listed at a 48% premium against its IPO upper price band of Rs 1,682 per share. LG Electronics shares were trading 1.63% higher at Rs 1716.19 per share on BSE with a market capitalisation of Rs 1,16,538.43 crore on BSE at 9:30 am on Wednesday.

LG Electronics vs Havells vs Voltas vs Blue Star: Share Price Comparison

LG Electronics' share price made a bumper listing on Tuesday, and the stock opened higher at Rs 1695.80 per share on the BSE. Meanwhile, Havells India's share price was trading 0.56% higher at Rs 1456 per share on BSE at 9:32 am today. The stock valuation has declined 13.36% year to date (YTD).

Blue Star Limited's share price was up 0.90% at Rs 1897 per share on BSE. ITs valuation has declined 16.24% year to date (YTD). Whereas, Voltas Limited shares were up around 0.43% at Rs 1397.7 per share at the same time. The stock valuation has declined by around 23.41% year to date (YTD).

LG Electronics vs Havells vs Voltas vs Blue Star: RoE, RoCE, P/E

Havells India share price has a return on equity (RoE) of 18.35%. Voltas share price has an RoE of 8.09%. Blue Star has an RoE of 17.23%, as per data on BSE. Blue Star has a P/E ratio of 87.20 / 71.81 (standalone and consolidated), whereas Voltas has a P/E ratio of 71.95 / 72.10, and Havells has a P/E ratio of 18.35 / 11.70. As per SBICAPS report, LG Electronics had a return on equity (RoE) of 36.9% in FY25, however the data on BSE and NSE is yet to be updated about the same.

LG Electronics vs Havells vs Voltas vs Blue Star: Market Capitalisation

LG Electronics market capitalisation (full) stood Rs 1.16 lakh crore, whereas Havells India's market capitalisation (full) stood at Rs 91.5 thousand crores. Voltas India's stock market capitalisation stood at Rs 46.118.72 crore and Blue Star India's market capitalisation stood at Rs 39 thousand crores on BSE.

LG Electronics vs Havells vs Voltas vs Blue Star: What Experts Have To Say?

More than 10 brokerage firms have given a 'Buy' rating for LG Electronics prior to its IPO listing on BSE on Tuesday citing the company's strong potential and fundamentals. LG Electronics with its attractive valuation and robust business turnover is a strategically important subsidiary for the parent company, noted experts.

LG Electronics

"LG has, over the last 3 decades, built a formidable franchise, which leads in key large appliance categories with premium positioning, leveraging its global R&D strength, brand power, and superior execution. Following the parent's 'Global South' strategy (announced in Jul-25; link) of driving global growth, India (the largest appliance market for the parent outside the US, Korea) would play an important role and is likely to contribute 1/3rd of global growth over 5Y," noted Emkay Global in its report on Tuesday.

"We believe LG deserves a premium multiple (50x; Exhibit 19) given its diversified category leadership and focus on growth via mass-premium product expansion, coupled with high RoE (~31-33% over FY26E-28E) vs peers' like Havells (~14-20%) and Blue Star (~18-21%), justifying a ~50x multiple," it added.

Havells India

Havells India brand Lloyd is likely to showcase strong growth. The company is also working on product development. It is expected to showcase "earnings per share (EPS) growth of 8.4% in FY26E and 22% in FY27E," according to Kotak Securities.

Blue Star

Blue Star is a leading player in India's AC and electronics industry. It is known for its strong market standing, superior R&D/manufacturing, and consistent margin delivery, noted Kotak Securities in its report on 8 October. "We estimate ~16%/17%/17% revenue/EBITDA/PAT CAGRs over FY25-28E," read the report.

Voltas

Considering Voltas Q2 update, the company seems to be facing challenging environment given higher inventories in channel (two-three months currently). The company hopes for a demand revival in Q3 on the back of festival push and GST reduction, though it indicated sustained channel support/incentives in Q2 and possibly in Q3, according to Nuvama.