Whirlpool of India Ltd
WHIRLPOOL NSE
Whirlpool of India Ltd
Consumer DiscretionaryNSE: WHIRLPOOL BSE: 500238 Consumer Durables
Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country.[1]
AI Verdict: HOLD Confidence: 5%
Whirlpool of India trades at a PE of 35.7x with only 8% ROE and declining profits (-11% TTM), making the valuation hard to justify. The debt-free balance sheet and 22.8% dividend payout provide some comfort, but a 33% stock decline over 1 year and 35.2% promoter holding reduction signal significant headwinds.
Key Fundamentals
MicrocapHousehold AppliancesConsumer GoodsMarket Cap
₹10,306 Cr
Volatility
Moderate
P/E Ratio
34.66
EBITDA
₹452 Cr
Return on Equity
5.84%
Debt to Equity
0.07
Book Value
₹327.94
EPS
₹23.58
52W High
₹1,473.8
52W Low
₹756.85
Technical Indicators
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 22.8%
Weaknesses
4- The company has delivered a poor sales growth of 6.37% over past five years.
- Company has a low return on equity of 7.82% over last 3 years.
- Earnings include an other income of Rs.170 Cr.
- Promoter holding has decreased over last 3 years: -35.2%
Growth Rate
Revenue Growth
-0.94% ↘
Net Income Growth
-22.25% ↘
Cash Flow Change
-6.40% ↘
ROE
55.65% ↘
ROCE
50.65% ↘
EBITDA Margin (Avg.)
-39.93% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 23d agoHOLD
Risk high
Whirlpool of India trades at a PE of 35.7x with only 8% ROE and declining profits (-11% TTM), making the valuation hard to justify. The debt-free balance sheet and 22.8% dividend payout provide some comfort, but a 33% stock decline over 1 year and 35.2% promoter holding reduction signal significant headwinds.
Bull Case 7
- Company is almost debt-free, providing strong balance sheet resilience in a high-interest-rate environment
- Consistent dividend payout of 22.8% demonstrates commitment to shareholder returns despite earnings pressure
- 3-year compounded sales growth of 6% shows steady top-line momentum in a competitive consumer durables market
- 3-year compounded profit growth of 13% indicates earnings recovery trajectory from cyclical lows
- Market cap of Rs.10,532 Cr with debt-free status offers potential acquisition or delisting optionality given parent Whirlpool Corp's global strategy
- 50% of analyst ratings are Buy (6 out of 12 analysts), suggesting professional consensus tilts positive
- 10-year stock CAGR of 1% with current 33% correction from highs may present a mean-reversion entry point for patient investors
Bear Case 8
- Promoter holding has decreased by 35.2% over last 3 years, a severe red flag signaling potential parent disengagement
- Stock has delivered -33% returns over 1 year and -18% CAGR over 5 years, destroying significant shareholder value
- ROE of just 7.82% over 3 years is well below the cost of equity, indicating poor capital efficiency
- PE of 35.7x is expensive for a company delivering only 1% TTM sales growth and -11% TTM profit growth
- 5-year compounded profit growth is -2%, showing structural inability to grow earnings over a full business cycle
- Other income of Rs.170 Cr inflates reported earnings, masking weaker core operating performance
- 5-year sales CAGR of only 6.37% in a large underpenetrated Indian appliance market suggests market share losses
- Trading at 2.53x book value despite sub-8% ROE offers no margin of safety for value investors
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 21d ago Neutral 3
- Q4FY26 investor call May 22 May 18
Whirlpool of India schedules analyst and investor conference call on May 22, 2026 at 4:30 PM IST to discuss audited Q4FY26 financial results.
- Board meet May 20 for dividend May 15
Board meeting scheduled for May 20, 2026 to consider Q4FY26 audited financials and recommend dividend for FY26.
- Arvind Uppal re-designation ballot May 13
Postal ballot issued to re-designate Arvind Uppal as Non-Executive Non-Independent Director, with e-voting open from May 14 to June 12, 2026.
TL;DR: No material positive or negative catalysts in the recent news flow. All developments are routine corporate governance and results-related scheduling. The upcoming Q4FY26 results on May 20-22 and potential dividend recommendation will be the next meaningful data points for the stock's direction.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,673 | 2,039 | 1,522 | 1,536 | 1,734 | 2,497 | 1,713 | 1,705 | 2,005 | 2,432 | 1,647 | 1,774 | 2,181 |
| Expenses | 1,567 | 1,915 | 1,448 | 1,473 | 1,590 | 2,286 | 1,626 | 1,636 | 1,822 | 2,221 | 1,589 | 1,683 | 2,060 |
| Operating Profit | 106 | 123 | 73 | 63 | 144 | 211 | 87 | 69 | 183 | 211 | 58 | 91 | 121 |
| OPM % | 6% | 6% | 5% | 4% | 8% | 8% | 5% | 4% | 9% | 9% | 4% | 5% | 6% |
| Other Income | 32 | 35 | 34 | 36 | 41 | 51 | 49 | 51 | 47 | 54 | 60 | 3 | 53 |
| Interest | 6 | 7 | 6 | 9 | 9 | 10 | 11 | 9 | 14 | 15 | 8 | 10 | 12 |
| Depreciation | 52 | 52 | 49 | 47 | 62 | 56 | 52 | 51 | 54 | 54 | 52 | 51 | 53 |
| PBT | 80 | 99 | 52 | 42 | 114 | 196 | 73 | 59 | 162 | 196 | 58 | 33 | 110 |
| Tax % | 20% | 22% | 27% | 29% | 30% | 26% | 27% | 25% | 26% | 26% | 27% | 18% | 27% |
| Net Profit | 64 | 77 | 38 | 30 | 79 | 145 | 54 | 45 | 119 | 146 | 42 | 27 | 80 |
| EPS in Rs | 4.94 | 5.9 | 2.88 | 2.21 | 6.12 | 11.34 | 4.1 | 3.46 | 9.4 | 11.49 | 3.26 | 2.09 | 6.32 |
Profit & Loss
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,832 | 5,398 | 5,993 | 5,900 | 6,197 | 6,668 | 6,830 | 7,919 | 8,034 |
| Expenses | 4,271 | 4,755 | 5,319 | 5,379 | 5,781 | 6,297 | 6,427 | 7,369 | 7,553 |
| Operating Profit | 561 | 642 | 673 | 521 | 416 | 371 | 403 | 550 | 481 |
| OPM % | 12% | 12% | 11% | 9% | 7% | 6% | 6% | 7% | 6% |
| Other Income | 86 | 107 | 143 | 106 | 398 | 127 | 145 | 198 | 170 |
| Interest | 4 | 9 | 20 | 15 | 16 | 15 | 30 | 45 | 45 |
| Depreciation | 102 | 111 | 129 | 142 | 147 | 185 | 210 | 213 | 209 |
| PBT | 541 | 629 | 667 | 470 | 650 | 297 | 307 | 490 | 397 |
| Tax % | 35% | 35% | 26% | 25% | 13% | 25% | 27% | 26% | 26% |
| Net Profit | 351 | 410 | 490 | 352 | 567 | 224 | 224 | 363 | 295 |
| EPS in Rs | 27.64 | 32.3 | 38.64 | 27.73 | 44.64 | 17.26 | 17.11 | 28.3 | 23.15 |
| Div. Payout % | 14% | 15% | 13% | 18% | 11% | 29% | 29% | 18% | 22% |
Balance Sheet
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 127 | 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 | 4,034 |
| Borrowings | 0 | 0 | 0 | 51 | 134 | 112 | 231 | 284 | 71 |
| Other Liabilities | 1,429 | 1,566 | 1,837 | 2,139 | 2,142 | 2,268 | 2,165 | 2,489 | 3,153 |
| Total Liabilities | 3,226 | 3,712 | 4,400 | 5,048 | 5,634 | 5,900 | 6,084 | 6,723 | 7,384 |
| Fixed Assets | 446 | 508 | 709 | 707 | 1,803 | 1,917 | 1,932 | 1,913 | 1,960 |
| CWIP | 33 | 43 | 44 | 41 | 76 | 20 | 21 | 49 | 203 |
| Investments | 456 | 659 | 567 | 207 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2,291 | 2,501 | 3,080 | 4,093 | 3,754 | 3,963 | 4,131 | 4,761 | 5,221 |
| Total Assets | 3,226 | 3,712 | 4,400 | 5,048 | 5,634 | 5,900 | 6,084 | 6,723 | 7,384 |
Cash Flow
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 384 | 402 | 380 | 524 | 98 | 270 | 610 | 571 | 298 |
| Investing | -415 | -262 | -72 | 338 | -459 | -101 | 62 | 61 | -2,032 |
| Financing | -46 | -62 | -87 | -75 | -89 | -101 | -117 | -307 | -212 |
| Net Cash Flow | -77 | 79 | 221 | 786 | -450 | 68 | 555 | 325 | -1,946 |
| Free Cash Flow | 229 | 216 | 75 | 425 | -70 | 90 | 544 | 452 | 37 |
| CFO/OP | 105 | 99 | 87 | 125 | 46 | 92 | 168 | 129 | 86 |
Ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 17 | 20 | 23 | 25 | 24 | 18 | 24 | 34 |
| Inventory Days | 99 | 96 | 117 | 124 | 114 | 120 | 99 | 93 | 103 |
| Days Payable | 140 | 134 | 143 | 161 | 129 | 131 | 110 | 119 | 128 |
| Cash Conversion Cycle | -24 | -20 | -7 | -14 | 10 | 13 | 8 | -3 | 9 |
| Working Capital Days | -8 | -7 | 3 | -1 | 13 | 16 | 1 | -5 | 0 |
| ROCE % | — | 32% | 29% | 18% | 10% | 8% | 9% | 13% | 11% |
Documents
2
Announcement under Regulation 30 (LODR)-Change in Directorate
6 May - Board re-designated Arvind Uppal as Non-Executive Non-Independent Director; committee compositions revised, subject to shareholder approval. 6 May - Board re-designated Arvind Uppal as Non-Executive Non-Independent Director; committee compositions revised, subject to shareholder approval.
4
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
29 Mar - Postal ballot to re-designate Anil Berera as Independent Director failed; he remains Non-Independent. 29 Mar - Postal ballot to re-designate Anil Berera as Independent Director failed; he remains Non-Independent.
5
Shareholder Meeting / Postal Ballot-Scrutinizer Report
29 Mar - Shareholders rejected resolution to re-designate Anil Berera as Independent Non-Executive Director; he remains Non-Independent. 29 Mar - Shareholders rejected resolution to re-designate Anil Berera as Independent Non-Executive Director; he remains Non-Independent.
Frequently Asked Questions about Whirlpool of India Ltd
What does Whirlpool of India Ltd do?
Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country.[1]
Where is Whirlpool of India Ltd (WHIRLPOOL) listed?
Whirlpool of India Ltd is listed on the Indian stock exchanges. It is listed on NSE: WHIRLPOOL and BSE: 500238. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Whirlpool of India Ltd belong to?
Whirlpool of India Ltd operates in the Consumer Discretionary sector within the Consumer Durables industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Whirlpool of India Ltd?
Whirlpool of India Ltd has a market capitalisation of approximately ₹10306.43 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Whirlpool of India Ltd?
The Price-to-Earnings (PE) ratio of Whirlpool of India Ltd is 34.66. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Whirlpool of India Ltd?
Over the past 52 weeks, Whirlpool of India Ltd has traded between a low of ₹756.85 and a high of ₹1,473.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Whirlpool of India Ltd pay dividends?
Yes, Whirlpool of India Ltd has a dividend yield of 0.62%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Whirlpool of India Ltd?
Whirlpool of India Ltd has a Return on Equity (ROE) of 5.84%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Whirlpool of India Ltd on Tapetide?
On Tapetide, you can view Whirlpool of India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country.[1]
Website whirlpoolindia.com
CEO Mr. Narasimhan Eswar
Employees 2,193
Listed 2010-04-06
Face Value ₹ 10
Issued Size 12,68,71,830