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Informist, Thursday, Aug. 6, 2026

 

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--Whirlpool: To introduce four-door refrigerator next month 
--CONTEXT: Comments by Whirlpool mgmt in post-earnings analyst concall 
--Whirlpool: To launch 4-door premium refrigerator under Whirlpool Luxuriem 
--Whirlpool: Wage-related protests in Haryana, Noida affected Q1 profit 
--Whirlpool: Looking at inorganic opportunities in next 12-15 months 
--Whirlpool: Work with Whirlpool Corp at arms length as parent shr below 40% 
--Whirlpool: Industry not out of woods amidst West Asia crisis 
--Whirlpool: Expect FY27 to be challenging, don't see immediate solution 
--Whirlpool: Don't see need for large capex over next 6-12 months 
--Whirlpool: Have lost market share in top load washing machine segment 
--Whirlpool:See commodity inflation, rupee fall to affect Jul-Sept earnings 
 

 

By Astha Oriel and Sunil Raghu

 

NEW DELHI/AHMEDABAD – Whirlpool of India Ltd. expects commodity inflation and adverse foreign exchange movements to weigh on volumes in the September quarter, making it a challenging period for the company, the management said during a post-earnings conference call. 

 

"The commodity costs are very high. The forex is very high. So, all the negatives will still stay. But the volumes in JS (Jul-Sept) will not be, you know, as strong as, nowhere near as strong as the volumes you had in AM (Apr-Mar)... So, I think it is going to be a tough quarter, actually, in JS (Jul-Sept)," a senior company official told analysts and investors, adding that the current quarter is usually weakest for the industry.  

 

In the June quarter, the company raised prices multiple times to offset the impact of commodity inflation, the official said. "While there is a squeeze on profit, this quarter has seen unprecedented cost increases on account of the geopolitical instability... I would have seen the crude oil prices, which, in a similar time-lapse of operating at $67, are now operating at $97, particularly in this quarter. And hence, there is a material impact of that on various raw materials and the components which are driven from oil," the official said. He, however, pointed out that the price increase was not sufficient to mitigate the full impact of cost increase during the quarter. 

 

The company would implement further price hikes if needed, depending on market conditions and its ability to pass on higher costs, the official said. "The price increase that we can take is going to also, at some point in time, be not only based on what we want to take, but also what we are able to take," the official said.

 

The company expects 2026-27 (Apr-Mar) to be challenging for the industry, with no immediate solution. "But it is not a great year for margins," the official said. Due to the West Asia crisis and commodity inflation, the industry is not yet out of the woods, the official said. 

 

"So, I would say, without exaggeration, that even now, we are literally figuring out how to manage on a month-on-month basis in terms of production. We are not out of the woods as an industry on all of these things. And, any mishap anywhere can actually make a huge difference," the official said. 

 

On capital expenditure, the company said there is no immediate requirement to make any large capex. 

The company's capacity utilisation across its products on an annual basis is about 70%-75%, the official said. "Immediate, I mean, the short term, it's the next 6-12 months to allow capacity capex," management said, adding that the company is investing cash for capex in the right projects without looking at budget as a constraint. 

 

The company is looking at inorganic opportunities in the next 12-15 months, according to the management. "So, I can only tell you that within the next 12 months, I need to have a very clear plan on how to utilise the cash, including any other options which, you know, whenever I'm not able to use them, there will be other options for that as well," the management said. 

 

The company have lost market share in the top load washing machine segment, the management said. However. in the front-load washing machine segment, the company continues to drive market share as it has done in the last two years, the official said. "In, of course, the refrigerator, there were some supply-rate issues that we had, which held us back," he said. 

 

The company will launch a 4-door premium refrigerator under the Whirlpool Luxuriem brand next month, the management said. On a question about its parent company, the official said the Indian company is working with Whirlpool Corp at an arm's length as the parent's share is below 40%. 

 

For the June quarter, the company's net profit fell 34% on year to INR 891.60 million. Its revenues rose 11% on year to INR 25.82 billion. The company's June quarter profitability was also impacted by wage-related protests in Haryana and Noida, the management said. Thursday, the company's shares closed 2.7% higher at INR 830.45 on the National Stock Exchange. End

 

Edited by Saji George Titus

 

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