Capitaline

For year-to-date (YTD) results analysis.

Consolidated net sales (including other operating income) of Whirlpool of India has increased 11.26% to Rs 4995 crore. Operating profit margin has declined from 5.97% to 5.30%, leading to 1.26% decline in operating profit to Rs 264.72 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 55.96% to 60.83%. Purchase of finished goods cost fell from 9.56% to 9.01%. Employee cost decreased from 10.88% to 9.52%. Other expenses fell from 17.24% to 15.37%. Other income rose 90.48% to Rs 95.03 crore. PBIDT rose 13.13% to Rs 359.75 crore. Provision for interest fell 16.24% to Rs 9.44 crore. PBDT rose 14.21% to Rs 350.31 crore. Provision for depreciation rose 28.07% to Rs 133.12 crore. Profit before tax grew 7.11% to Rs 217.19 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 56.88 crore, compared to Rs 54.65 crore. Effective tax rate was 26.19% compared to 10.17%. Minority interest increased 1,064.71% to Rs 3.96 crore. Net profit attributable to owners of the company decreased 67.60% to Rs 156.35 crore.

Vishal Bhola, MD, Whirlpool of India said, " The year to date turnover continues to grow in double digits however current quarter was impacted by muted consumer demand especially in the entry segment. While the commodity prices came down sequentially, the full benefit could not be realised in the quarter because of holding inventory. Our portfolio transformation actions are yielding good results with Elica India growing in double digits with healthy margins, our newly built front load washing machines line being fully active and a slew of innovations in the mid premium segment hitting the marketplace."

Promoters’ stake was 75.00% as of 31 December 2022 ,compared to 75.00% as of 31 December 2021 .

Whirlpool of India : Consolidated Results

	Quarter ended			Year to Date			Year ended
Particulars	202212	202112	Var.(%)	202212	202112	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	1,302.46	1,541.95	-15.53	4,995.00	4,489.66	11.26	6,196.57	5,899.89	5.03
OPM (%)	3.31	5.40	-209 bps	5.30	5.97	-67 bps	6.71	8.80	-209 bps
OP	43.14	83.23	-48.17	264.72	268.10	-1.26	415.66	518.98	-19.91
Other Inc.	40.97	17.76	130.69	95.03	49.89	90.48	63.30	89.60	-29.35
PBIDT	84.11	100.99	-16.71	359.75	317.99	13.13	478.96	608.58	-21.30
Interest	4.03	1.68	139.88	9.44	11.27	-16.24	15.87	15.34	3.46
PBDT	80.08	99.31	-19.36	350.31	306.72	14.21	463.09	593.24	-21.94
Depreciation	44	38.2	15.18	133.12	103.94	28.07	147.46	142.1	3.77
PBT	36.08	61.11	-40.96	217.19	202.78	7.11	315.63	451.14	-30.04
Share of Profit/(Loss) from Associates	0	0	-	0	10.17	-	10.17	18.56	-45.20
PBT before EO	36.08	61.11	-40.96	217.19	212.95	1.99	325.8	469.7	-30.64
EO Income	0	0	-	0	324.59	-	324.59	0	-
PBT after EO	36.08	61.11	-40.96	217.19	537.54	-59.60	650.39	469.7	38.47
Taxation	9.37	16.92	-44.62	56.88	54.65	4.08	83.02	117.87	-29.57
PAT	26.71	44.19	-39.56	160.31	482.89	-66.80	567.37	351.83	61.26
Minority Interest (MI)	2.02	0.34	494.12	3.96	0.34	1,064.71	1	0	-
Net profit	24.69	43.85	-43.69	156.35	482.55	-67.60	566.37	351.83	60.98
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	24.69	43.85	-43.69	156.35	482.55	-67.60	566.37	351.83	60.98
EPS (Rs)*	1.95	3.46	-43.69	12.32	15.12	-18.49	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