Latest news with #WhirlpoolIndia
Business Standard
21-05-2025
- Business
- Business Standard
Whirlpool of India Q4 PAT climbs 54% YoY to Rs 119 cr
Whirlpool of India's consolidated net profit soared 53.62% to Rs 119.20 crore on 15.61% rise in revenue from operations to Rs 2,004.67 crore in Q4 FY25 over Q4 FY24. Profit before tax (PBT) in the third quarter of FY25 stood at Rs 59.19 crore, up by 40.09% from Rs 42.25 crore in the same quarter last year. Profit before exceptional items and tax rose 16.16% YoY to Rs 154.65 crore in Q4 FY25. The company reported exceptional items of Rs 7 crore during the quarter, related to an insurance claim received for the fire loss at its Alipur, Delhi facility. The company reported EBITDA of Rs 183 crore in Q4 FY25, up 27.4% year-on-year. Operational EBITDA rose 32.2% compared to last year, before accounting for a provision of Rs 6.8 crore related to an additional price upcharge under the new E-Waste regulations affecting the industry. The growth was driven by strong revenue performance, cost reduction and productivity initiatives, as well as favorable segment mix gains. On a full-year basis, the company's consolidated net profit surged 65.40% to Rs 359 crore on a 15.95% increase in revenue from operations to Rs 7,919.37 crore in FY25 over FY24. The household appliance maker said, The business continues its renewed momentum with double-digit revenue growth in the fourth consecutive quarter despite softness in the refrigerator and washing machine industry. Topline growth was driven by strong YOY share improvement, which continued in this quarter. Not only has overall refrigerator and washing machine volume share improved very significantly over last year, share growth is broad based with robust share gains in direct cool, frost-free refrigerators, fully automatic top load, semi-automatic washers, and front-load washing machines, which reflects rejuvenation of brand pull and the continued strong focus on executional excellence. Improvement in gross margins was driven by calibrated price actions, improved execution in high-margin portfolios, and the benefits from cost productivity actions offsetting the impact of commodity inflation. Whirlpool India delivered a healthy +60% growth in consolidated PBT for the year ended Mar 25. Meanwhile, the companys board has recommended a final dividend of Rs 5 per equity share for the financial year 2024-25. Whirlpool of India is primarily engaged in the manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets. Shares of Whirlpool of India declined 1.58% to Rs 1,275 on the BSE.
Business Standard
29-04-2025
- Business
- Business Standard
Whirlpool of India soars as Global PE giants circle stake sale opportunity
Whirlpool of India jumped 7.56% to Rs 1,290 amid reports that a clutch of global private equity heavyweights are in talks to acquire a significant stake in the company. According to media reports, Whirlpool Corporation, the U.S.-based parent of the Indian appliance major, is planning to divest a 31% stake in its India unit, seeking to raise between $550 million to $600 million (approximately Rs 5,000 crore). This stake sale buzz follows Whirlpool Corporation's earlier announcement during its Q4 earnings release on 29 January 2025, where it disclosed plans to reduce its holding in the Indian subsidiary to about 20% by mid-to-late 2025 via one or more market transactions. The deal may involve multiple funds jointly acquiring the stake, with Whirlpool Corporation expressing interest in remaining the largest shareholder. Despite the sell-down plans, Whirlpool Corporation underlined its continued confidence in the Indian market, calling it a "significant marketplace for growth." The U.S. parent also highlighted its commitment to Whirlpool India's expansion, citing new product launches and the recent acquisition of Elica India as key steps forward. "Whirlpool India will remain a relevant part of Whirlpool Corporation's portfolio, and we continue to believe Whirlpool India has a strong long-term trajectory for growth. We intend the anticipated sell-down to result in autonomy for Whirlpool India to adjust to the ever-evolving industry conditions, enabling Whirlpool India to focus on accelerated growth and utilise its well-funded business to invest further in the business," Whirlpool Corporation stated in its earlier release. As of 31 March 2025, Whirlpool Mauritiusa wholly owned subsidiary of Whirlpool Corporationheld a 51% stake in Whirlpool India. Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets. Whirlpool of Indias consolidated net profit surged 57.06% to Rs 43.96 crore on 11.02% rise in revenue from operations to Rs 1,704.85 crore in Q3 FY25 over Q3 FY24.
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Business Standard
29-04-2025
- Business
- Business Standard
Whirlpool soars 10% as PE firms eye stake; stock up 33% thus far in April
Share price of Whirlpool of India today: Shares of Whirlpool of India (Whirlpool) surged 10 per cent to ₹1,316.50 on the BSE in Tuesday's intra-day trade in an otherwise range bound market as a large private equity (PE) firm eyed a stake in the household appliances company. Thus far in the month of April, the stock price of Whirlpool has soared 33 per cent. It bounced back 46 per cent from its 52-week low price of ₹899 touched on March 3, 2025. The stock had hit a 52-week high of ₹2,450 on October 22, 2024. ALSO READ: What's fuelling the rally? As per media sources, Whirlpool has been sounded out by large PE firms including Advent International, Bain Capital, TPG, EQT, Carlyle and KKR for its India business. Whirlpool Corporation, the promoter of the company, plans to sell a 31 per cent stake in its Indian arm, aiming to raise around $550–600 million, i.e., ~₹5,000 crore which shall value Whirlpool India at ~9 per cent higher than its Monday's closing price of ₹1,200. On January 29, 2025, as part of its fourth quarter earnings release, Whirlpool Corporation announced its intention to sell down its ownership interest in Whirlpool to about 20 per cent this year via market sale by mid-to-late 2025, by way of one or more market sales. It expects to remain the largest shareholder following completion of the anticipated sell-down, the company said in an exchange filing. Meanwhile, Whirlpool Corporation said it continues to see India as a significant marketplace for growth and an integral part of the company's growth strategy. The company remains committed to expand the business with new product launches and the recently acquired Elica India business. 'Whirlpool India will remain a relevant part of Whirlpool Corporation's portfolio, and we continue to believe Whirlpool India has a strong long-term trajectory for growth. We intend the anticipated sell-down to result in autonomy for Whirlpool India to adjust to the ever-evolving industry conditions, enabling Whirlpool India to focus on accelerated growth and utilise its well-funded business to invest further in the business," Whirlpool Corporation said in a statement. As on March 31, 2025, Whirlpool Mauritius, the promoter entity, held 51 per cent stake in Whirlpool India, the shareholding pattern data shows. Whirlpool Mauritius is the wholly-owned subsidiary of Whirlpool Corporation. Reducing its ownership is seen as a strategic move to give the Indian unit more control over its future operations. If the deal goes through, one of the major overhang on the stock shall be behind, according to analysts. About Whirlpool Whirlpool India, headquartered in Gurugram, Haryana, is one of the leading manufacturers and marketers of major home appliances in the country. It is primarily engaged in manufacturing and trading of Refrigerators, Washing Machines, Air Conditioners, Microwave Ovens, built-in and Small appliances and caters to both domestic and international markets. The Company also provides services in the area of product development and procurement services to Whirlpool Corporation, USA and other group Companies.
