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Informist, Friday, Jul. 24, 2026

 

By Utthara ES

 

MUMBAI – Whirlpool of India Ltd. is expected to report a decline in its June quarter net profit despite an increase in net sales. The decline in the profit is due to the increase in sales of low margin products and an increase in the cost of raw materials, according to brokerages tracking the company.

 

Whirlpool is expected to report a net profit of INR 1.29 billion for the June quarter, down 4.5% from INR 1.35 billion in the year-ago quarter, according to the average of estimates from four brokerages. The highest estimate for the company's net profit is INR 1.55 billion from Nirmal Bang Equities Pvt. Ltd. and the lowest is INR 1.05 billion from Kotak Securities Ltd.

 

The company's net sales are expected to increase nearly 16% on year to INR 26.8 billion for the June quarter from INR 23.2 billion in the year-ago quarter, according to the average of estimates. The highest estimate for net sales is INR 27.2 billion from Kotak Securities Ltd. and the lowest is INR 26.3 billion from Nuvama Wealth Management Ltd.

 

The company is expected to report lower revenue growth because its new product launches did not generate enough sales, YES Securities (India) Ltd. said. Refrigerator demand is also likely to be low in the June quarter and this will drag sales down, the brokerage added.

 

Kotak expects Whirlpool's revenues to grow 12%, driven by double-digit growth in sales of washing machines along with a market share gain and robust sales of room air-conditioners in which also the company is expected to gain market share. Revenues will grow 12?spite low growth in sales of refrigerators, Kotak said.

 

Whirlpool manufactures and markets major home appliances. The company is majority owned by Whirlpool Corp. of the US. It sells refrigerators, washing machines, air conditioners, water purifiers, and microwave ovens in India. The company also exports appliances to Australia, New Zealand, among others.

 

The company is expected to report earnings before interest, tax, depreciation, and amortisation of INR 1.8 billion in the June quarter, down 5% on year, according to the average of four estimates. The highest EBITDA estimate is INR 2.2 billion from Nirmal Bang and the lowest is INR 1.4 billion from Kotak.

 

The company's EBITDA margin is expected to be in the range of 5.5-8.2% for the June quarter, according to three estimates. The highest estimate for the EBITDA margin is 8.2% from Nirmal Bang and the lowest is 5.5% from Kotak. The company's EBITDA margin is expected to be lower because of cost inflation, higher e-waste expenses, and the contraction of its gross margin.

 

The company's gross margin is expected to contract to 29.4% in the June quarter because of an increase in the cost of raw materials, the depreciation of the rupee, and prioritising low margin products such as room air conditioners, YES Securities and Kotak said.

 

Friday, shares of Whirlpool of India closed at INR 771.45 apiece on the National Stock Exchange. The shares are down 12% since the company announced its March quarter earnings on May 20.

 

Of the four research reports on the company available with Informist, two have a ‘buy' recommendation on the stock with an average target price of INR 1,201, up 55% than the current market price. One brokerage has a ‘hold' recommendation on the stock with a target price of INR 931 and one has a ‘sell' recommendation with a target price of INR 730.

 

The following are the Apr-Jun earnings estimates for Whirlpool of India from four brokerages in descending order of the estimates of net profit, in INR billion:

 

Broker Names	Net Sales	Net Profit	EBITDA
Nirmal Bang Equities Pvt. Ltd.	26.7	1.55	2.20
YES Securities (India) Ltd.	26.9	1.28	1.86
Nuvama Wealth Management Ltd.	26.3	1.27	1.82
Kotak Securities Ltd.	27.2	1.05	1.49
Average	26.8	1.29	1.84

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Pankaj Aher

 

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