Consolidated net sales (including other operating income) of Whirlpool of India
for the quarter ended Sep 2022 was flat at Rs 1611.54 crore. Operating
profit margin has declined from 8.1% to 5.5 %, leading to 31% decline in
operating profit to Rs 88.91 crore. Raw material cost as a % of
total sales (net of stock adjustments) increased from 55.57% to 61.24%.
Purchase of finished goods cost fell from 9.27% to 6.85%.
Employee cost increased from 9.73% to 10.16%. Other
expenses fell from 16.92% to 16.03%. Other income rose 23.22% to Rs
22.34 crore. PBIDT fell 24.59% to Rs 111.25
crore. Provision for interest fell 53.81% to Rs 2.73
crore. PBDT fell 23.37% to Rs 108.52 crore. Provision
for depreciation rose 27.24% to Rs 41.53 crore. Profit before tax
down 38.53% to Rs 66.99 crore. Exceptional item was nil against Rs 324.59 crore for the quarter ended on 30 September 2021 representing fair
value gain of Rs 32.459 lacs (net of acquisition cost of Rs 2.11 crore) on
existing equity interest in Elica India at the time of acquisition of
subsidiary. PBT After EO was down 85% to
RS 66.99 crore. Provision for tax was
expense of Rs 17.97 crore, compared to Rs 28.38 crore. PAT was down 88% to Rs 49.02 crore. Share of
profit were nil against Rs 8 crore. Minority
interest was Rs 1.09 crore against nil. Net
profit attributable to owners of the company decreased 88% to Rs 47.93
crore.
Half yearly performance
Consolidated net sales has increased 25.27% to Rs 3692.54
crore. Operating profit margin has declined from 6.27% to 5.98%,
leading to 19.37% rise in operating profit to Rs 220.68 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
56.43% to 60.68%. Purchase of finished goods cost fell from 10.01%
to 9.01%. Employee cost decreased from 10.49% to 8.83%.
Other expenses fell from 16.72% to 15.43%. Other income
rose 68.25% to Rs 54.06 crore. PBIDT rose 26.61% to Rs 274.74
crore. Provision for interest fell 43.59% to Rs 5.41
crore. PBDT rose 29.85% to Rs 269.33 crore. Provision for
depreciation rose 34.20% to Rs 88.22 crore. Profit before tax grew
27.84% to Rs 181.11 crore.
Exceptional item was nil against Rs 324.59 crore for the half year ended on 30 September 2021 representing
fair value gain of Rs 32.459 lacs (net of acquisition cost of Rs 2.11 crore) on
existing equity interest in Elica India at the time of acquisition of
subsidiary. Thus on escalated base, the Profit before tax after EO was down
61% to Rs 181.11 crore. Provision
for tax was expense of Rs 47.51 crore, compared to Rs 37.73 crore. PAT was
down 69% to Rs 133.60 crore. Share of profit was nil compared to Rs 10.17 crore. Minority
interest Rs 1.94 crore against nil. Net profit attributable to
owners of the company decreased 70% to Rs 131.66 crore.
Other developments
Equity capital stood at Rs 126.87
crore as of 30 September 2022 to Rs 126.87 crore as of 30 September
2021. Per share face Value remained same at Rs 10.00.
Loan funds rose to Rs 30.09 crore
as of 30 September 2022 from Rs 21.16 crore as of 30 September
2021. Inventories declined from Rs 1,384.96 crore as of 30 September
2021 to Rs 1,243.53 crore as of 30 September 2022. Sundry debtors
were lower at Rs 292.44 crore as of 30 September 2022 compared to Rs 369.22
crore as of 30 September 2021. Cash and bank balance rose to Rs 1,498.03
crore as of 30 September 2022 from Rs 1,277.54 crore as of 30 September
2021.
Fixed assets increased to Rs
1,218.77 crore as of 30 September 2022 from Rs 757.46 crore as of 30 September
2021. Intangible assets declined from Rs 1,013.00 crore to Rs 747.80
crore.
Promoters’ stake was 75.00% as of
30 September 2022 ,compared to 75.00% as of 30 September 2021 .
Cash flow from operating
activities has turned positive Rs 106.23 crore for YTD ended September 2022
from negative Rs 341.88 crore for YTD ended September 2021. Cash
flow used in acquiring fixed assets during the YTD ended September 2022 stood
at Rs 175.93 crore, compared to Rs 58.47 crore during the YTD ended September
2021.
Whirlpool of India: Consolidated
Results
|
|
|
|
|
|
|
|
|
2209 (3)
|
2109 (3)
|
Var.(%)
|
2209 (6)
|
2109 (6)
|
Var.(%)
|
2203 (12)
|
2103 (12)
|
Var.(%)
|
Sales
|
1611.54
|
1607.10
|
0
|
3692.54
|
2947.71
|
25
|
6196.57
|
5899.89
|
5
|
OPM (%)
|
5.5
|
8.1
|
|
6.0
|
6.3
|
|
6.7
|
8.8
|
|
OP
|
88.91
|
129.40
|
-31
|
220.68
|
184.87
|
19
|
415.66
|
518.98
|
-20
|
Other inc.
|
22.34
|
18.13
|
23
|
54.06
|
32.13
|
68
|
63.30
|
89.60
|
-29
|
PBIDT
|
111.25
|
147.53
|
-25
|
274.74
|
217.00
|
27
|
478.96
|
608.58
|
-21
|
Interest
|
2.73
|
5.91
|
-54
|
5.41
|
9.59
|
-44
|
15.87
|
15.34
|
3
|
PBDT
|
108.52
|
141.62
|
-23
|
269.33
|
207.41
|
30
|
463.09
|
593.24
|
-22
|
Dep.
|
41.53
|
32.64
|
27
|
88.22
|
65.74
|
34
|
147.46
|
142.10
|
4
|
PBT
|
66.99
|
108.98
|
-39
|
181.11
|
141.67
|
28
|
315.63
|
451.14
|
-30
|
EO Income
|
0.00
|
324.59
|
-100
|
0.00
|
324.59
|
-100
|
324.59
|
0.00
|
|
PBT after EO
|
66.99
|
433.57
|
-85
|
181.11
|
466.26
|
-61
|
640.22
|
451.14
|
42
|
Taxation
|
17.97
|
28.38
|
-37
|
47.51
|
37.73
|
26
|
83.02
|
117.87
|
-30
|
PAT
|
49.02
|
405.19
|
-88
|
133.60
|
428.53
|
-69
|
557.20
|
333.27
|
67
|
Share of profit from JV/associate
|
0.00
|
8.00
|
-100
|
0.00
|
10.17
|
-100
|
10.17
|
18.56
|
-45
|
Minority Interest
|
1.09
|
0.00
|
|
1.94
|
0.00
|
|
1.00
|
0.00
|
|
PAT after MI
|
47.93
|
413.19
|
-88
|
131.66
|
438.70
|
-70
|
566.37
|
351.83
|
61
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
22.4
|
27.7
|
|
* Annualized On Current Equity Of
Rs 126.87 Crore. Face Value: Rs 10
|
|
|
|
# EPS is not annualised due to
seasonality of business
|
|
|
|
|
|
Figures in Rs crore
|
|
|
|
|
|
|
|
|
|
Source: Capitaline Corporate
Database
|
|
|
|
|
|
|
|
|