Sells household appliances in India across four product lines: refrigerators (direct cool and frost-free), washing machines (front load), air conditioners, and cooking/kitchen appliances under the Elica subsidiary. FY26 consolidated revenue was ₹8,034.2 crore, with Q4 FY26 alone at ₹2,181 crore growing 7.4% year-on-year after a soft H1. March 2026 was the highest-ever shipment month in company history, including a first-ever crossing of 100,000 air conditioner units in a single month and a doubling of front load washing machine volumes in the quarter. Manufacturing is supported by a 'P4G' cost program that delivered 220 basis points of gross margin improvement over three years. The biggest cost is materials (50.2% of revenue in FY26), followed by other operating expenses (16.7%) and employees (10.8%); depreciation was 2.6% and capex 3.3% of revenue. Q4 FY26 EBITDA fell to ₹121 crore (5.6% margin) and full-year EBITDA was ₹481 crore (6% margin), with margins pressured by an energy regulation upgrade (BEE star rating change from January 2026), incremental e-waste provisions from a September 2024 government notification, and Middle East-related supply chain disruption. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Refrigerators, Washing machines, Air conditioners, Elica cooking/kitchen appliances. Cyclical, consumer durables business exposed to seasonal demand, regulatory cost changes and entry-level segment weakness
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,197 | 6,668 | 6,830 | 7,919 | 8,034 |
| EBITDA (ex other income) | 740 | 370 | 384 | 557 | 452 |
| margin % | 11.9 | 5.6 | 5.6 | 7.0 | 5.6 |
| Owners' profit | 566 | 219 | 217 | 359 | 294 |
| EPS, as reported (₹) | 44.64 | 17.26 | 17.11 | 28.30 | 23.15 |
| ROE % · ROCE % | 16.2 · 16.7 | 6.1 · 7.7 | 5.8 · 7.7 | 9.1 · 11.6 | 7.1 · 9.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 98 | 270 | 610 | 571 | 298 |
| Capex | (170) | (181) | (66) | (120) | (263) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,713 | 1,705 | 2,005 | 2,432 | 1,647 | 1,774 | 2,181 | 2,727 |
| Profit before tax | 73 | 59 | 162 | 196 | 58 | 33 | 110 | 139 |
| Net profit | 54 | 45 | 119 | 146 | 42 | 27 | 81 | 103 |
| EPS (₹) | 4.10 | 3.46 | 9.40 | 11.49 | 3.26 | 2.09 | 6.32 | 8.11 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LG ELECTRONICS INDIA LTD | 1,11,217 | 60.9 | 14.51 | — | 22.0 | 27.2 | — | 13.8 |
| VOLTAS LTD | 38,538 | 85.8 | 6.02 | 45.1 | 5.8 | 9.9 | 13.8 | 7.6 |
| BLUE STAR LIMITED | 32,032 | 62.9 | 9.33 | 33.9 | 15.4 | 18.9 | 23.8 | 6.1 |
| AMBER ENTERPRISES (I) LTD | 25,552 | 265.5 | 4.40 | 27.1 | 3.9 | 5.3 | 32.1 | 6.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Whirlpool of India 65th AGM: All 5 resolutions passed with strong majority | board shareholder meetings | low | — | — |
| 9 Sept 2026 · 65th AGM held on 9 Sep 2026 - 5 ordinary resolutions tabled | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Shareholders approve Whirlpool of India ESOP plan and executive appointment | capital market events | medium | — | — |
| 22 Aug 2026 · Newspaper Advertisement filed under SEBI Regulation 47 | compliance | minimal | — | — |
| 17 Aug 2026 · Notice of 65th AGM scheduled for September 9, 2026 via video conferencing | compliance | minimal | — | — |
| 14 Aug 2026 · 65th AGM on September 9, 2026; Annual Report web-link shared | compliance | minimal | — | — |
| 12 Aug 2026 · Whirlpool of India Q1 FY27 analyst call transcript filed | investor communications | medium | — | — |
| 9 Aug 2026 · Whirlpool India informs exchange about 65th AGM newspaper notice | compliance | minimal | — | — |
| 7 Aug 2026 · Newspaper ad of Q1 FY26 results filed with BSE and NSE | compliance | minimal | — | — |
| 6 Aug 2026 · Link to Q1 FY2026-27 conference call recording shared | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| CROMPT GREA CON ELEC LTD | 14,874 | — | 4.33 | 107.8 | (6.7) | (2.1) | 11.0 | 11.0 |
| V-GUARD IND LTD. | 14,215 | 39.1 | 5.99 | 26.8 | 13.0 | 15.5 | 17.0 | 11.2 |
| WHIRLPOOL OF INDIA LTD ◆ | 9,683 | 38.6 | 2.33 | 13.9 | 7.1 | 8.1 | 6.4 | 7.6 |
| EUREKA FORBES LIMITED | 7,643 | 42.5 | 1.66 | 25.3 | 3.5 | 3.9 | — | 13.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.6 | 42.5 | 8 of 19 | 61% |
| P/B | 2.3 | 4.9 | 5 of 23 | 82% |
| ROCE | 8.1 | 9.4 | 14 of 24 | 44% |
| ROE | 7.1 | 7.1 | 12 of 23 | 50% |
| Debt / Equity | 0.0 | 0.0 | 1 of 23 | 73% |
| EBITDA margin | 7.6 | 7.6 | 13 of 23 | 46% |
| Revenue growth | 12.1 | 15.4 | 16 of 22 | 29% |
| Profit growth | (29.6) | 38.1 | 17 of 21 | 20% |
| Market cap | 9683 | 3977 | 7 of 24 | 74% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
