On July 29, 2024, Whirlpool of India Limited announced its first-quarter results for FY 2024-25. The company reported consolidated revenue of ₹2,496.9 crore, a 22.5% increase compared to last year. Consolidated EBITDA rose by 70.9% to ₹210.9 crore, while consolidated PBT grew by 98.7% to ₹195.9 crore. Consolidated PAT increased by 89.4% to ₹145.3 crore.
On a standalone basis, the company’s revenue was ₹2,383.7 crore, up by 24.0% from last year. Standalone EBITDA climbed by 92.9% to ₹193.3 crore, and standalone PBT surged by 128.4% to ₹180.9 crore. Standalone PAT saw an impressive rise of 115.2% to ₹134.0 crore.
The growth in revenue was attributed to higher market shares in refrigerators and washers, along with industry growth in refrigerators and air conditioners. The improvements in EBITDA and PBT were driven by increased sales volumes, cost-saving measures leading to better profit margins, and a greater mix of premium, high-margin products.
Mr Narasimhan Eswar, Managing Director of Whirlpool of India Limited said, “Our revenue growth this quarter was driven by strong market share gains in both refrigerators and washers as well as helped by a strong refrigerator and air conditioner summer season. Our market share growth has been gaining momentum across the last few months while profit growth has been ahead of revenue growth consistently thanks to ROI focus in investment and tight cost management across all lines of the P&L. This continues to validate that our new strategic imperatives, as well as our relentless focus to execute our plans excellently in the marketplace, are moving in the right direction.”
Headquartered in Gurugram, Whirlpool of India Limited is a top manufacturer and marketer of major home appliances in the country. The company operates 3 advanced manufacturing facilities located in Faridabad, Puducherry, and Pune. These state-of-the-art setups demonstrate Whirlpool’s dedication to offering top-quality solutions to its customers.
On July 30, 2024, the share price of Whirlpool Of India Ltd opened at ₹2,175.00, touching the day’s low of ₹2,135.00 as of 09:32 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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