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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹10849 Cr.
Stock P/E
29.9
P/B
2.6
Current Price
₹855.1
Book Value
₹ 327.9
Face Value
10
52W High
₹1471
52W Low
₹ 756.1
Dividend Yield
0.58%

Whirlpool Of India Overview

Business

Whirlpool Of India Ltd. is a leading manufacturer and marketer of home appliances in India. It operates primarily in the domestic appliances segment, offering a range of products including refrigerators, washing machines, air conditioners, microwave ovens, dishwashers, and water purifiers. The company leverages the globally recognized "Whirlpool" brand, providing solutions for various consumer needs in the Indian market. Its core business model involves manufacturing, sourcing, distributing, and servicing these appliances through a wide network of dealers, modern retail channels, and e-commerce platforms, generating revenue from direct product sales.

Revenue Mix

The company's primary revenue segments are broadly categorized by product lines:

Refrigerators: A major contributor, covering single door, double door, and multi-door frost-free models.

Washing Machines: Includes semi-automatic, top-load automatic, and front-load automatic variants.

Air Conditioners: Split and window ACs.

Microwave Ovens & Cooking Appliances: A range of microwave ovens and other kitchen appliances.

Other Appliances: Dishwashers, water purifiers, and built-in appliances.

Specific revenue contributions for each segment are not publicly available in detail without financial statements.

Industry

Whirlpool Of India operates in the highly competitive Indian Consumer Durables - Domestic Appliances industry. This industry is characterized by increasing disposable incomes, rapid urbanization, growing middle class, and low penetration levels for many appliance categories compared to developed markets. The market is fragmented with both domestic and international players. Whirlpool Of India is positioned as a significant player, leveraging its global brand heritage and product innovation. It competes directly with other major brands such as LG, Samsung, Godrej Appliances, Voltas, Haier, and Panasonic across its product categories.

MOAT

Brand Recognition: "Whirlpool" is a globally renowned brand, which enjoys high trust and recall among Indian consumers, associated with quality and durability.

Technological Expertise & R&D: As a subsidiary of Whirlpool Corporation, USA, it benefits from access to global R&D, product innovation, and manufacturing technologies, allowing it to offer advanced and energy-efficient products.

Extensive Distribution & Service Network: The company has built a wide pan-India distribution network, encompassing traditional dealers, modern retail chains, and a growing online presence, supported by a robust after-sales service infrastructure.

Scale Economies: Leveraging its parent company's global scale in procurement, manufacturing, and logistics provides a cost advantage in certain areas.

Growth Drivers

Rising Disposable Incomes: As incomes increase, more households can afford to purchase or upgrade home appliances.

Low Penetration Levels: Many categories like dishwashers, large capacity refrigerators, and premium washing machines still have low penetration in India, offering significant headroom for growth.

Urbanization & Nuclear Families: Growth in urban households and the trend towards nuclear families drive demand for new appliances.

Premiumization Trend: Consumers are increasingly willing to pay for advanced features, energy efficiency, and aesthetically superior products.

Easy Financing Options: Availability of consumer finance and EMI options makes appliances more accessible.

Government Initiatives: Schemes promoting housing and electrification can indirectly boost demand for home appliances.

Risks

Intense Competition: The Indian consumer durables market is highly competitive, leading to pricing pressure and the need for continuous marketing and product innovation.

Raw Material Price Volatility: Fluctuations in prices of key commodities like steel, copper, aluminium, and plastics can impact manufacturing costs and margins.

Demand Fluctuations: Consumer spending on discretionary items like appliances can be sensitive to economic slowdowns, inflation, and changes in consumer sentiment.

Supply Chain Disruptions: Global or domestic disruptions (e.g., geopolitical events, pandemics) can affect the availability of components or finished goods.

Foreign Exchange Fluctuations: Given reliance on imported components, currency volatility can impact costs.

Regulatory Changes: Changes in energy efficiency standards, import duties, or environmental regulations can necessitate product design changes or impact costs.

Management & Ownership

Whirlpool Of India Ltd. is promoted by Whirlpool Corporation, USA, which holds a majority stake in the company. This ownership structure implies strong corporate governance practices aligned with global standards and access to the parent company's global resources, expertise, and R&D. The management team is professional, often comprising experienced industry veterans, responsible for executing the company's strategy in the Indian market while adhering to the global vision and policies of Whirlpool Corporation.

Outlook

Whirlpool Of India is well-positioned to capitalize on the long-term growth potential of the Indian consumer durables market, driven by favorable demographics, rising incomes, and increasing electrification. Its strong brand, extensive distribution network, and access to global R&D provide a competitive edge in a market where premiumization and technological advancements are key. However, the company faces persistent challenges from intense competition, which could pressure market share and margins, alongside volatility in raw material costs and consumer demand. Sustained investment in innovation, marketing, and channel expansion will be crucial for maintaining its market position and driving profitable growth.

Whirlpool Of India Share Price

Live · BSE / NSE · Inception: 1960
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Whirlpool Of India Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 1536 1734 2497 1713 1705 2005 2432 1647 1774 2181
Other Income 36 60 51 49 51 40 54 50 42 53
Total Income 1571 1794 2548 1762 1755 2044 2486 1697 1816 2234
Total Expenditure 1473 1590 2286 1626 1636 1822 2221 1589 1683 2060
Operating Profit 98 203 262 136 120 223 265 108 133 174
Interest 9 9 10 11 9 14 15 8 10 12
Depreciation 47 62 56 52 51 54 54 52 51 53
Exceptional Income / Expenses 0 -19 0 0 0 7 0 10 -39 0
Profit Before Tax 42 114 196 73 59 162 196 58 33 110
Provision for Tax 12 35 51 20 15 42 50 16 6 29
Profit After Tax 30 79 145 54 45 119 146 42 27 81
Adjustments -2 -2 -1 -2 -1 -0 -0 -0 -0 -0
Profit After Adjustments 28 78 144 52 44 119 146 41 26 80
Adjusted Earnings Per Share 2.2 6.1 11.3 4.1 3.5 9.4 11.5 3.3 2.1 6.3

Whirlpool Of India Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 4832 5398 5993 5900 6197 6668 6830 7919 8034
Other Income 87 105 129 90 63 127 164 191 199
Total Income 4919 5502 6121 5989 6260 6795 6994 8110 8233
Total Expenditure 4272 4755 5319 5381 5781 6297 6427 7369 7553
Operating Profit 647 747 802 609 479 498 567 741 680
Interest 4 9 20 15 16 15 30 45 45
Depreciation 102 111 129 142 147 185 210 213 210
Exceptional Income / Expenses 0 0 0 0 325 0 -19 7 -29
Profit Before Tax 541 629 667 470 650 297 307 490 397
Provision for Tax 190 219 177 118 83 73 83 127 101
Profit After Tax 351 410 490 352 567 224 224 363 296
Adjustments 0 0 0 0 -1 -5 -7 -4 0
Profit After Adjustments 351 410 490 352 566 219 217 359 293
Adjusted Earnings Per Share 27.6 32.3 38.6 27.7 44.6 17.3 17.1 28.3 23.2

Whirlpool Of India Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1796 2145 2563 2858 3358 3520 3689 3950
Minority's Interest 0 0 0 0 143 148 155 41
Borrowings 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 136 165 192 256 377 332 455 525
Total Current Liabilities 1266 1367 1608 1893 1756 1898 1769 2176
Total Liabilities 3198 3677 4363 5007 5634 5897 6067 6692
Fixed Assets 446 508 709 707 1803 1917 1932 1913
Other Non-Current Assets 604 705 332 353 241 107 110 151
Total Current Assets 2148 2464 3322 3946 3589 3873 4025 4628
Total Assets 3198 3677 4363 5007 5634 5897 6067 6692

Whirlpool Of India Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1052 974 1053 1274 2060 1610 1678 2252
Cash Flow from Operating Activities 384 402 380 524 98 270 610 571
Cash Flow from Investing Activities -415 -262 -72 338 -469 -101 62 42
Cash Flow from Financing Activities -46 -62 -87 -75 -89 -101 -117 -307
Net Cash Inflow / Outflow -77 79 221 786 -460 68 555 306
Closing Cash & Cash Equivalent 975 1053 1274 2060 1610 1678 2233 2558

Whirlpool Of India Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 27.64 32.3 38.64 27.73 44.64 17.26 17.11 28.3
CEPS(Rs) 35.64 41.07 48.83 38.93 56.34 32.27 34.26 45.4
DPS(Rs) 4 5 5 5 5 5 5 5
Book NAV/Share(Rs) 138.48 165.6 198.06 220.92 259.92 272.13 284.23 303.81
Core EBITDA Margin(%) 9.21 9.75 9.18 6.85 5.06 4.07 4.33 5.08
EBIT Margin(%) 8.97 9.69 9.36 6.41 8.11 3.43 3.63 4.94
Pre Tax Margin(%) 8.9 9.55 9.09 6.2 7.92 3.26 3.3 4.53
PAT Margin (%) 5.77 6.22 6.68 4.65 6.91 2.46 2.41 3.35
Cash Profit Margin (%) 7.44 7.91 8.45 6.52 8.71 4.5 4.67 5.32
ROA(%) 10.97 11.92 12.19 7.51 10.66 3.89 3.75 5.69
ROE(%) 19.96 21.24 21.25 13.24 18.6 6.64 6.36 9.73
ROCE(%) 30.35 32.38 29.16 17.89 21.44 9.08 9.37 14.01
Receivable days 14.43 13.74 14.37 16.89 17.98 17.3 15.15 14.33
Inventory Days 48.64 47.06 51.13 58.8 57.46 56.51 54 43.38
Payable days 141.32 129.21 133.27 150.35 136.57 124.32 118.96 99.34
PER(x) 54.76 47.13 46.78 80.41 35.23 76.08 71.03 35
Price/Book(x) 10.93 9.19 9.13 10.09 6.05 4.83 4.28 3.26
Dividend Yield(%) 0.26 0.33 0.28 0.22 0.32 0.38 0.41 0.5
EV/Net Sales(x) 3.77 3.38 3.61 4.45 2.96 2.25 1.93 1.26
EV/Core EBITDA(x) 28.17 24.44 26.99 43.1 38.28 30.11 23.26 13.5
Net Sales Growth(%) 0 11.71 11.02 -1.55 5.03 7.6 2.43 15.95
EBIT Growth(%) 0 17.06 7.58 -29.36 37.36 -53.14 8.11 58.47
PAT Growth(%) 0 16.84 19.63 -28.23 61.26 -60.52 0.13 61.74
EPS Growth(%) 0 16.85 19.63 -28.23 60.98 -61.33 -0.9 65.41
Debt/Equity(x) 0 0 0 0 0 0 0 0
Current Ratio(x) 1.7 1.8 2.07 2.09 2.04 2.04 2.28 2.13
Quick Ratio(x) 1.06 1.15 1.34 1.41 1.3 1.25 1.57 1.52
Interest Cover(x) 124.19 70.21 34.59 31.62 41.98 20.8 11.17 11.94
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +16% +9% +6%
Operating Profit CAGR +31% +16% -2%
PAT CAGR +62% -14% -6%
Share Price CAGR -33% -16% -17% +1%
ROE Average +10% +8% +11% +15%
ROCE Average +14% +11% +14% +20%

Whirlpool Of India Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 39.76 %
FII 11.47 %
DII (MF + Insurance) 35.84 %
Public (retail) 60.24 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 755151515151515139.7639.76
FII 3.646.478.939.489.710.7210.2911.1211.911.47
DII 12.6333.6931.331.530.8127.9628.628.3535.4135.84
Public 254949494949494960.2460.24
Others 0000000000
Total 100100100100100100100100100100

Whirlpool Of India Peer Comparison

Consumer Durables - Domestic Appliances Edit Columns

Whirlpool Of India Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Whirlpool Of India Pros & Cons

Pros

  • Debtor days have improved from 118.96 to 99.34days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 39.76%.
  • Company has a low return on equity of 8% over the last 3 years.
  • The company has delivered a poor profit growth of -5% over past five years.
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