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.