WHIRLPOOL
Whirlpool of India share price & financials
- Price
- ₹794.95
- Market cap
- ₹10.0k Cr
- Sector
- Consumer Durables
- Calls analysed
- 6
Whirlpool of India Limited Q1 FY27
What went well
- Consolidated revenue grew by 12.1% to ₹2,727 crores, marking the highest ever revenue for the quarter in the company's history.
- Elica business demonstrated strong performance with 26% revenue growth and 22% PBT growth.
- Achieved double-digit market share growth in direct cool refrigerators and semi-automatic washers.
What to watch
- Consolidated EBITDA margin squeezed by over 300 basis points to 5.1%, and PBT margin also at 5.1%.
- Significant margin impact due to geopolitical instability (war-related crude oil and forex impacts) and regulatory changes (energy, e-waste).
What Whirlpool of India Limited does
Whirlpool of India manufactures and markets home appliances — refrigerators (direct-cool and frost-free), washing machines (semi-automatic, top-load and front-load), air conditioners and microwave/cooking appliances — under the Whirlpool brand. Through its subsidiary Elica, it also makes kitchen appliances such as chimneys/hoods, hobs and built-in cooking ranges. The company is majority owned by US-based Whirlpool Corporation and earns by selling through a pan-India network of multi-brand retail outlets, with its own manufacturing plants and an in-house after-sales service organisation.
Segments
- Refrigeration
- Laundry (Washing Machines)
- Air Conditioners
- Cooking / Kitchen Appliances
- Manufacturing plants
- 3 (Faridabad, Pune, Puducherry)
- Faridabad plant
- Refrigerators and semi-automatic washing machines
- Pune plant
- Frost-free and direct-cool refrigerators
- Puducherry plant
- Washing machines
- Product categories
- 4 — refrigerators, washing machines, air conditioners, cooking/kitchen appliances
- Market position — refrigerators & washers combined (multi-brand outlets, Mar'26)
- No. 2
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 0 delivered 1 missed 13 open- FY24 Full Year Revenue Growth went quiet said Q3 FY24 Promised: Moderately better than the cumulative growth delivered in the first nine months Q1 FY27: Target deadline has passed and was never addressed. Promise is now considered concluded and ghosted.
- Long-term PBT/EBITDA Margin at risk said Q3 FY24 Promised: High single digit Q1 FY27: PBT margin for the quarter was 5.1%, a significant drop of over 300 bps YoY due to major cost headwinds, moving away from the 'high single-digit' long-term goal.
- Long-term Revenue CAGR on track said Q3 FY24 Promised: High single digit Q1 FY27: Delivered 12.1% YoY revenue growth in Q1 FY27, aligning with the higher end of the 'high single-digit to early double-digit' guidance.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 11.4%, net profit down 34.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,582 | 1,565 | 1,890 | 2,317 | 1,502 −5% | 1,624 +4% | 2,030 +7% | 2,582 +11% |
| EBITDA | 68 | 44 | 169 | 195 | 36 −47% | 65 +48% | 100 −41% | 120 −38% |
| Net profit | 42 | 27 | 111 | 135 | 27 −36% | 13 −52% | 67 −40% | 89 −34% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −44.3% 1Y
1Y: ₹1,369.8 on 10 Sept 2025 → ₹762.35. High ₹1,420.9 (30 Oct 2025), low ₹753.45 (19 Aug 2026).
How the price took the results
close before → close after
- Q1 FY27
- +2.7%
- 6 Aug
- Q4 FY26
- −3.6%
- 22 May
- Q3 FY26
- −3.0%
- 12 Feb
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 6.4% a year over 3 years, FY23 to FY26. Operating margin widened to 5.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹6.2k Cr | ₹6.3k Cr | ₹7.4k Cr | ₹7.5k Cr |
| Operating profit | ₹298 Cr | ₹312 Cr | ₹474 Cr | ₹396 Cr |
| Operating margin | 4.8% | 4.9% | 6.4% | 5.3% |
| Interest | ₹12 Cr | ₹28 Cr | ₹40 Cr | ₹41 Cr |
| Depreciation | ₹162 Cr | ₹185 Cr | ₹189 Cr | ₹185 Cr |
| Net profit | ₹186 Cr | ₹168 Cr | ₹314 Cr | ₹242 Cr |
| Net margin | 3.0% | 2.7% | 4.2% | 3.2% |
| Cash from operations | ₹189 Cr | ₹535 Cr | ₹514 Cr | ₹233 Cr |
| Free cash flow | ₹18 Cr | ₹474 Cr | ₹401 Cr | ₹-21 Cr |
| ROCE | 8.0% | 8.0% | 13.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹127 Cr | ₹127 Cr | ₹127 Cr | ₹127 Cr | ₹127 Cr | ₹127 Cr |
| Reserves | ₹2.7k Cr | ₹2.9k Cr | ₹3.0k Cr | ₹3.1k Cr | ₹3.5k Cr | ₹3.5k Cr |
| Borrowings | ₹51 Cr | ₹125 Cr | ₹102 Cr | ₹223 Cr | ₹252 Cr | ₹342 Cr |
| Other liabilities | ₹2.1k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹2.7k Cr |
| Total liabilities | ₹5.0k Cr | ₹5.0k Cr | ₹5.3k Cr | ₹5.4k Cr | ₹5.8k Cr | ₹6.7k Cr |
| Fixed assets | ₹707 Cr | ₹787 Cr | ₹910 Cr | ₹942 Cr | ₹890 Cr | ₹986 Cr |
| Capital work in progress | ₹41 Cr | ₹76 Cr | ₹20 Cr | ₹21 Cr | ₹67 Cr | ₹203 Cr |
| Investments | ₹172 Cr | ₹597 Cr | ₹597 Cr | ₹597 Cr | ₹764 Cr | ₹822 Cr |
| Other assets | ₹4.1k Cr | ₹3.6k Cr | ₹3.7k Cr | ₹3.8k Cr | ₹4.1k Cr | ₹4.7k Cr |
| Total assets | ₹5.0k Cr | ₹5.0k Cr | ₹5.3k Cr | ₹5.4k Cr | ₹5.8k Cr | ₹6.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −11.24 pp while DIIs added +5.45 pp. The shareholder count grew 36% to 1,31,028.
- Promoters
- 39.8%
- FIIs
- 12.5%
- DIIs
- 34.2%
- Public
- 13.6%
Since Jun 2025
- Promoters −11.24 pp
- DIIs +5.45 pp
- Public +3.62 pp
How it drifted, 12 quarters
Over this window promoters fell from 75.0% to 39.8% — −35.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, FIIs 3.5%, DIIs 12.9%, Public 8.6%.Dec '23: Promoters 75.0%, FIIs 3.6%, DIIs 12.6%, Public 8.7%.Mar '24: Promoters 51.0%, FIIs 6.5%, DIIs 33.7%, Public 8.8%.Jun '24: Promoters 51.0%, FIIs 8.9%, DIIs 31.3%, Public 8.8%.Sep '24: Promoters 51.0%, FIIs 9.5%, DIIs 31.5%, Public 8.0%.Dec '24: Promoters 51.0%, FIIs 9.7%, DIIs 30.8%, Public 8.5%.Mar '25: Promoters 51.0%, FIIs 10.7%, DIIs 28.1%, Public 10.2%.Jun '25: Promoters 51.0%, FIIs 10.3%, DIIs 28.7%, Public 10.0%.Sep '25: Promoters 51.0%, FIIs 11.1%, DIIs 28.5%, Public 9.4%.Dec '25: Promoters 39.8%, FIIs 11.9%, DIIs 35.5%, Public 12.8%.Mar '26: Promoters 39.8%, FIIs 11.5%, DIIs 35.9%, Public 12.9%.Jun '26: Promoters 39.8%, FIIs 12.5%, DIIs 34.2%, Public 13.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Bowhead India Fund FPI fund newly disclosed 2.58% held
- Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund Mutual fund +0.76 pp 2.75% held
- Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund Mutual fund +0.65 pp 8.54% held
- Franklin India Small Cap Fund Mutual fund +0.10 pp 2.64% held
The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Whirlpool of India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Whirlpool Mauritius Ltd | 39.76% | unchanged |
| Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund Mutual fund | 8.54% | +0.65 pp |
| Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund | 6.11% | −0.44 pp |
| SBI Contra Fund Mutual fund | 3.54% | −0.39 pp |
| HDFC Trustee Company Ltd. A/C HDFC Balanced Advantage Fund Mutual fund | 3.32% | unchanged |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund Mutual fund | 2.75% | +0.76 pp |
| Franklin India Small Cap Fund Mutual fund | 2.64% | +0.10 pp |
| Bowhead India Fund FPI fund | 2.58% | newly disclosed |
| ICICI Prudential Multi-Asset Fund Mutual fund | 1.29% | unchanged |
| Goldman Sachs Funds - Goldman Sachs India Equity Portfolio Global fund house | 1.27% | unchanged |
| HDFC Life Insurance Company Limited Insurer | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in WHIRLPOOL
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.02 L shares (+0.0%).
- Held by funds
- ₹1.5k Cr
- 16 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹643 Cr · 0.8% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹643 Cr | held | Jun '24 |
| SBI Contra Fund SBI Mutual Fund | ₹324 Cr | held | Feb '24 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹151 Cr | held | Feb '24 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹115 Cr | held | Nov '25 |
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹93 Cr | held | Feb '24 |
| Nippon India Flexi Cap Fund Nippon India Mutual Fund | ₹54 Cr | held | Jun '25 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹44 Cr | held | Dec '22 |
| SBI Consumption Opportunities Fund SBI Mutual Fund | ₹31 Cr | held | Feb '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 1 trimmed — net +2,179 shares (+0.0%)
- Funds are sitting on
- -32%
- vs est. average cost
- Held by funds
- ₹1.5k Cr
- 16 schemes · ≈ 15% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹643 Cr · 0.8% of that fund
- Longest holder
- HDFC Large and Mid Cap Fund
- 3y 8m · since Dec '22
Shares held by these funds +11678%
Aug '23 1.89 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Whirlpool of India Limited
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