Whirlpool of India Ltd
Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country.[1]
- Market Cap ₹ 17,389 Cr.
- Current Price ₹ 1,371
- High / Low ₹ 2,206 / 899
- Stock P/E 48.9
- Book Value ₹ 311
- Dividend Yield 0.36 %
- ROCE 12.6 %
- ROE 9.26 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 25.3%
Cons
- Stock is trading at 4.40 times its book value
- The company has delivered a poor sales growth of 5.73% over past five years.
- Company has a low return on equity of 7.39% over last 3 years.
- Earnings include an other income of Rs.201 Cr.
- Promoter holding has decreased over last 3 years: -24.0%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 4,832 | 5,398 | 5,993 | 5,900 | 6,197 | 6,668 | 6,830 | 7,919 | 7,855 | |
| 4,271 | 4,755 | 5,319 | 5,379 | 5,781 | 6,297 | 6,427 | 7,369 | 7,304 | |
| Operating Profit | 561 | 642 | 673 | 521 | 416 | 371 | 403 | 550 | 551 |
| OPM % | 12% | 12% | 11% | 9% | 7% | 6% | 6% | 7% | 7% |
| 86 | 107 | 143 | 106 | 398 | 127 | 145 | 198 | 201 | |
| Interest | 4 | 9 | 20 | 15 | 16 | 15 | 30 | 45 | 50 |
| Depreciation | 102 | 111 | 129 | 142 | 147 | 185 | 210 | 213 | 211 |
| Profit before tax | 541 | 629 | 667 | 470 | 650 | 297 | 307 | 490 | 491 |
| Tax % | 35% | 35% | 26% | 25% | 13% | 25% | 27% | 26% | |
| 351 | 410 | 490 | 352 | 567 | 224 | 224 | 363 | 364 | |
| EPS in Rs | 27.64 | 32.30 | 38.64 | 27.73 | 44.64 | 17.26 | 17.11 | 28.30 | 28.45 |
| Dividend Payout % | 14% | 15% | 13% | 18% | 11% | 29% | 29% | 18% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 9% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | 7% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | -8% |
| 3 Years: | -4% |
| 1 Year: | -37% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | 7% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 127 | 127 | 127 | 127 | 127 | 127 | 127 | 127 |
| Reserves | 1,669 | 2,019 | 2,437 | 2,731 | 3,231 | 3,393 | 3,562 | 3,823 |
| 0 | 0 | 0 | 51 | 134 | 112 | 231 | 284 | |
| 1,429 | 1,566 | 1,837 | 2,139 | 2,142 | 2,268 | 2,165 | 2,489 | |
| Total Liabilities | 3,226 | 3,712 | 4,400 | 5,048 | 5,634 | 5,900 | 6,084 | 6,723 |
| 446 | 508 | 709 | 707 | 1,803 | 1,917 | 1,932 | 1,913 | |
| CWIP | 33 | 43 | 44 | 41 | 76 | 20 | 21 | 49 |
| Investments | 456 | 659 | 567 | 207 | 0 | 0 | 0 | 0 |
| 2,291 | 2,501 | 3,080 | 4,093 | 3,754 | 3,963 | 4,131 | 4,761 | |
| Total Assets | 3,226 | 3,712 | 4,400 | 5,048 | 5,634 | 5,900 | 6,084 | 6,723 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 384 | 402 | 380 | 524 | 98 | 270 | 610 | 571 | |
| -415 | -262 | -72 | 338 | -459 | -101 | 62 | 61 | |
| -46 | -62 | -87 | -75 | -89 | -101 | -117 | -307 | |
| Net Cash Flow | -77 | 79 | 221 | 786 | -450 | 68 | 555 | 325 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 17 | 20 | 23 | 25 | 24 | 18 | 24 |
| Inventory Days | 99 | 96 | 117 | 124 | 114 | 120 | 99 | 93 |
| Days Payable | 140 | 134 | 143 | 161 | 129 | 131 | 110 | 119 |
| Cash Conversion Cycle | -24 | -20 | -7 | -14 | 10 | 13 | 8 | -3 |
| Working Capital Days | -8 | -7 | 6 | -1 | 13 | 16 | 1 | -5 |
| ROCE % | 32% | 29% | 18% | 10% | 8% | 9% | 13% |
Documents
Announcements
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Disclosure Under The SEBI Master Circular, Dated 11 November 2024 And Bearing Reference Number SEBI/HO/CFD/Pod2/CIR/P/0155, For Compliance With The Provisions Of The SEBI (LODR) Regulations, 2015 ('Listing Regulations') By Listed Entities, As Amended ('Master Circular').
16 Oct - Executed 30-year brand license, tech and services agreements; guaranteed minimum royalties USD6M–12M; Services term to Mar 31, 2029.
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Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
16 Oct - Executed BLA/TLA/Services/TSA/IP assignment effective 16-Oct-2025; BLA 30 years, guaranteed royalties USD6–12M; services to Mar 2029.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Oct - Registrar MUFG Intime certified demat compliance under Reg 74(5) for quarter July 1–September 30, 2025.
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Announcement under Regulation 30 (LODR)-Change in Management
8 Oct - Sarabjeet Singh resigns effective Oct 08, 2025; Rohit Khera and Umesh Kumar appointed Oct 09, 2025.
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Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
25 Sep - Paid INR 50,000 compounding fee to Delhi Weights & Measures on Sep 25, 2025 for labelling omission.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Feb 2025Transcript PPT
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Aug 2024Transcript PPT
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Aug 2024TranscriptNotesPPT
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Feb 2024Transcript PPT
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Feb 2022TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
Parent Company
Promoted by Whirlpool Corporation, USA, the company is a leading global kitchen and laundry appliances manufacturer. Its brand portfolio includes Whirlpool, KitchenAid, Maytag, Consum, Brastemp, and Amana. In 2023, it reported sales of approximately $19 billion and operates 55 manufacturing and technology research centers. [1]