Whirlpool Corporation is the world's leading global manufacturer and marketer of major home appliances. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in nearly every country around the world.

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.

December 2015 quarter results

For the quarter ended December 2015, sales grew 13% to Rs 814.08 crore. OPM grew 110 basis points to 8.7% which saw OP rise 30% to Rs 70.58 crore.

Other income grew 34% to Rs 13.38 crore and interest cost grew 188% to Rs 23 lakh. As depreciation rose 4% to Rs 18.98 crore, PBT grew 40% to Rs 64.75 crore.

As tax grew 40% to Rs 20.34 crore, PAT went up 41% to Rs 44.41 crore.

Nine months quarter results

For the nine months ended December 2015, sales grew 4% to Rs 2627.90 crore. OPM improved 70 basis points to 10.6% which saw OP grow 12% to Rs 279.07 crore.

Other income grew 43% to Rs 39.49 crore and interest cost grew 10% to Rs 55 lakh. As depreciation rose 8% to Rs 51.39 crore, PBT grew 17% to Rs 266.62 crore.

After providing for taxation, (up 19% to Rs 86.52 crore), PAT went up 16% to Rs 180.10 crore.

Other details

During the quarter some finished goods, spare parts and fixed assets of Rs 14.91 crore lying at the warehouse in Chennai were destroyed on account on flood. The inventory and fixed assets were fully insured and the management expects that the loss is recoverable from the insurer net-off of estimated deduction of Rs 52 lakh (net of tax expenses) as per insurance terms. This is shown as EO loss after PAT.

Valuation

The share price trades at Rs 630.