Whirlpool of India's ability to leverage on its parent's product and marketing expertise to launch new products / undertake innovations on existing products in the Indian market puts it in an advantageous position.

September 2018 quarter results

For the quarter ended September 2018, net sales grew 2% to Rs 1181.50 crore. OPM fell 70 basis points to 9.1% which saw OP fall 5% to Rs 107.76 crore.

Other income grew 44% to Rs 39.82 crore and interest cost went down 85% to Rs 26 lakh. As depreciation grew 6% to Rs 26.92 crore, PBT grew 6% to Rs 120.40 crore.

As tax grew 3% to Rs 41.85 crore, PAT grew 7% to Rs 78.55 crore.

Six months results

For the six months, net sales grew 8% to Rs 2832.58 crore. OPM stayed at 12.4% which saw OP rise 8% to Rs 351.80 crore.

Other income grew 50% to Rs 73.92 crore and interest cost went down 86% to Rs 46 lakh. As depreciation grew 2% to Rs 54.15 crore, PBT went up 17% to Rs 371.11 crore.

As tax grew 16% to Rs 128.78 crore, PAT went up 18% to Rs 242.33 crore.

FY 2018 results

For FY 2018, net sales grew 23% to Rs 4831.91 crore. OPM fell 80 basis points to 11.6% which saw OP rise 15% to Rs 560.00 crore. PBT grew 15% to Rs 540.82 crore. PAT went up 13% to Rs 350.67 crore.

Confident of continued success

The management is confident of continued success as it has the right strategy, set very clear long term goals, has invested behind its strategy and has the tight team to execute it.

The strategy includes revitalizing its brands and refreshing its product portfolio to achieve its long term goal of $ 1 billion sales.

Valuation

The stock trades at Rs 1367.