Capitaline

Operating profit margin has jumped from 4.14% to 6.33%, leading to 137.55% rise in operating profit to Rs 131.77 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 57.37% to 60.26%. Purchase of finished goods cost fell from 10.81% to 10.62%. Employee cost decreased from 11.33% to 7.84%. Other expenses fell from 16.50% to 14.99%. Other income rose 126.57% to Rs 31.72 crore. PBIDT rose 135.34% to Rs 163.49 crore. Provision for interest fell 27.17% to Rs 2.68 crore. PBDT rose 144.43% to Rs 160.81 crore. Provision for depreciation rose 41.06% to Rs 46.69 crore. Profit before tax grew 249.10% to Rs 114.12 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 29.54 crore, compared to Rs 9.35 crore. Effective tax rate was 25.89% compared to 26.82%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 228.22% to Rs 83.73 crore.
Management Comments :

Arvind Uppal, Chairman Whirlpool of India Limited said, "We had a record top line this quarter on the back of significant price increases taken earlier. While inflation has peaked, its impact on consumer demand is still playing out. Our cooking business continues to progress well and we remain confident that this will develop into another pillar for us."

Vishal Bhola, Managing Director Whirlpool of India Limited said, `It was a strong start to the year with robust revenue growth of 55% and PAT growth of 230% although on a low covid-impacted quarter. The industry showed good recovery in mid and premium while the entry segment was

muted with inflation putting stress on consumer spending. We remain confident in Whirlpool`s ability to successfully navigate through what is likely for some time to be a volatile external environment.`

Promoters’ stake was 75.00% as of 30 June 2022 ,compared to 75.00% as of 30 June 2021 .

Whirlpool of India : Consolidated Results

	Quarter ended			Year ended
Particulars	202206	202106	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	2,081.00	1,340.61	55.23	6,196.57	5,899.89	5.03
OPM (%)	6.33	4.14	219 bps	6.71	8.80	-209 bps
OP	131.77	55.47	137.55	415.66	518.98	-19.91
Other Inc.	31.72	14.00	126.57	63.30	89.60	-29.35
PBIDT	163.49	69.47	135.34	478.96	608.58	-21.30
Interest	2.68	3.68	-27.17	15.87	15.34	3.46
PBDT	160.81	65.79	144.43	463.09	593.24	-21.94
Depreciation	46.69	33.1	41.06	147.46	142.1	3.77
PBT	114.12	32.69	249.10	315.63	451.14	-30.04
Share of Profit/(Loss) from Associates	0	2.17	-	10.17	18.56	-45.20
PBT before EO	114.12	34.86	227.37	325.8	469.7	-30.64
EO Income	0	0	-	324.59	0	-
PBT after EO	114.12	34.86	227.37	650.39	469.7	38.47
Taxation	29.54	9.35	215.94	83.02	117.87	-29.57
PAT	84.58	25.51	231.56	567.37	351.83	61.26
Minority Interest (MI)	0.85	0	-	1	0	-
Net profit	83.73	25.51	228.22	566.37	351.83	60.98
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	83.73	25.51	228.22	566.37	351.83	60.98
EPS (Rs)*	6.60	2.01	228.22	22.42	27.73	-19.17

* EPS is on current equity of Rs 126.87 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database