Consumer Electronics company Whirlpool of India announced Q1FY24 results: Consolidated Q1FY24 vs Q1FY23: Total revenue from operations of Rs 2,038.6 crore, lower by 2% EBITDA of Rs 123.4 crore, lower by 6.4% PBT of Rs 98.6 crore, lower by 13.6% PAT of Rs 76.7 crore, lower by 9.3% Elica India delivered double-digit revenue growth and strong profit growth. Standalone Q1FY24 vs Q1FY23: Total revenue from operations of Rs 1,922.9 crore, lower by 3.1%. Revenue in April and May was impacted by subdued industry growth in Refrigerators & Air Conditioners due to inclement weather, however, our revenue grew well in June 2023. Q1FY24 EBITDA of Rs 100.2 crore was lower by 14.7% PBT of Rs 79.2 crore was lower by 24.7% Q1FY24 PAT of Rs 62.2 crore was lower by 20.1% Arvind Uppal, Chairman, Whirlpool of India said, "The quarter was weak overall as we faced multiple headwinds. We are starting to see the first signs of a momentum change. With a new Managing Director in place, I am confident that we will start to see a much stronger execution and am optimistic about the future." Narasimhan Eswar, Managing Director, Whirlpool of India said, "Despite a relatively weak summer season for the industry due to unseasonal weather patterns, Whirlpool delivered a +3% consolidated volume growth for the quarter showing progressive momentum in market shares and achieving -2% in revenues. We expect the sales momentum to continue as we gain from new products launched earlier this year and on the back of stronger ROI-focused execution. We will continue our focus on improving profitability in the medium term through portfolio premiumization and driving cost reduction programs that have already been put in place. Elica India continues its stellar run on sales and profits." Result PDF
Consumer Electronics company Whirlpool of India announced Q4FY23 & FY23 results: Consolidated FY23: Revenue of Rs 6,667.7 crore, growing 7.6% vs LY. PBT (before exceptional items) at Rs 297.2 crore was down by 8.8% vs LY PAT (before exceptional items) was at Rs 224 crore, down by 7.7% vs LY. PBT and PAT on a reported basis were lower by 54.3% and 60.5% respectively vs LY driven by one time exceptional gain of Rs 324.6 crore from Elica India acquisition in the previous financial year. Consolidated Q4FY23: Revenue from Operations were at Rs 1,672.7 crore, lower by 2% vs LY. PBT was at Rs 80 crore down by 29.1% vs LY PAT was at Rs 63.7 crore down by 24.6% vs LY Mr Narasimhan Eswar, Managing Director, Whirlpool of India Limited said, “We believe that the strong leverage of our recent product launches especially in mid and premium ranges combined with a renewed drive on all aspects of in-market excellence and accelerated cost reduction programs will help us grow profitably. Our recent portfolio expansion actions in the cooking category are yielding good results with Elica India revenue growing at double digits with healthy margins.” Result PDF