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.

June 2018 quarter results

For the quarter ended June 2018, net sales grew 13% to Rs 1651.08 crore. OPM improved 40 basis points to 14.8% which saw OP grow 16% to Rs 244.04 crore.

Other income grew 63% to Rs 35.67 crore and interest cost went down 9% to Rs 1.76 crore. As depreciation fell 2% to Rs 27.23 crore, PBT grew 24% to Rs 250.72 crore.

As tax grew 24% to Rs 86.93 crore, PAT grew 23% to Rs 163.79 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.

Other income grew 19% to Rs 86.72 crore and interest cost went down 25% to Rs 4.39 crore. As depreciation grew 16% to Rs 101.51 crore, PBT grew 15% to Rs 540.82 crore.

As tax jumped 20% to Rs 190.15 crore (tax incidence grew from 33.7% to 35.2%), PAT went up 13% to Rs 350.67 crore.

Valuation

The stock trades at Rs 1730.