NSE: WHIRLPOOL | BSE: 500238

Strong Performer, Getting Expensive

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1374.40 -3.90 (-0.28%)

35.26% Fall from 52W High

142.4K NSE+BSE Volume

NSE 04 Nov, 2025 3:31 PM (IST)

17,437.3

Market Cap

Above industry Median

0.8

Beta 1Year

Very Low volatility

Estimates Miss

Whirlpool's Q2 net profit misses Forecaster estimates by 30.7% due to higher inventory expenses See details

Whirlpool of India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for WHIRLPOOL, BSE:500238 Whirlpool of India Ltd.

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Whirlpool of India Ltd.

25 Sep 2025

1374.40

-0.28%

FY25 annual report analysis: Revival in business earnings but other income/ PBT remains ~40%

Sell: Whirlpool of India Ltd.

Target

ICICI Securities Limited

Other income to PBT is ~40% in FY25. The valuation multiple (P/E) based on core business earnings, i.e., excluding cash and tax-adjusted other income, stands at 71x on FY25 earnings. The company gained market
shares in both washing machine and refrigerators in FY25, despite a highly competitive landscape.

Whirlpool of India Ltd. has gained 16.53% in the last 1 Month

Whirlpool of India Ltd.

21 May 2025

1374.40

-0.28%

Strong Q4FY25 performance but overhang of parent reducing stake to 20%

Sell: Whirlpool of India Ltd.

Target

ICICI Securities Limited

Whirlpool India’s Q4FY25 print was strong with likely market share gains in key categories of refrigerators and washing machines. With negligible price hikes, we believe revenue growth in Q4FY25 was largely volume driven.

Whirlpool of India Ltd. has gained 16.53% in the last 1 Month

Whirlpool of India Ltd.

09 Feb 2025

1374.40

-0.28%

Strong Q3FY25 performance; parent to reduce stake to 20%

Sell: Whirlpool of India Ltd.

Recommendation Target

ICICI Securities Limited

Whirlpool India reported a strong set of numbers in Q3FY25 with healthy revenue growth of 11% coupled with market share gains.

Whirlpool of India Ltd. has gained 16.53% in the last 1 Month

Whirlpool of India Ltd.

06 Nov 2023

1374.40

-0.28%

Weak performance; protecting volumes at cost of margins

Accumulate: Whirlpool of India Ltd.

Recommendation Target

ICICI Securities Limited

Takeaways from Q2FY24 results: (1) Weakness in consumer demand has continued in Q2FY24 and hurt volume growth. (2) The company has cut prices in order to protect volumes (DCF accretive). (3) Resilient performance in Elica. While correction in input prices is aiding gross margins, its benefit is partly offset by higher ad-spends (in our view).

Whirlpool of India Ltd. has gained 16.53% in the last 1 Month

Whirlpool of India Ltd.

08 Aug 2023

1374.40

-0.28%

Elica remains strong value driver; Margin tailwinds ahead due to deflation in commodity prices

Buy: Whirlpool of India Ltd.

Target

ICICI Securities Limited

While Whirlpool’s Q1FY24 was muted (as expected), we note three positives (1) Elica has continued to report strong revenue growth (19% YoY) led by strong product portfolio expansion and integration with supply chain of Whirlpool, (2) In our view, Whirlpool’s EBITDA margin has likely bottomed out in H1CY23.

Whirlpool of India Ltd. has gained 16.53% in the last 1 Month

Whirlpool of India Ltd.

18 May 2023

1374.40

-0.28%

Sequential improvement in profitability

Buy: Whirlpool of India Ltd.

ICICI Securities Limited

While Whirlpool’s Q4FY23 performance was below our estimates, we note (1) there is sequential recovery in gross margins over past quarters and (2) Elica has maintained double digit growth rates with improvement in EBITDA margins. We are also enthused by the parent’s India focus.

Whirlpool of India Ltd. has gained 16.53% in the last 1 Month

Whirlpool of India Ltd.

02 Feb 2023

1374.40

-0.28%

Weak performance; Margins remain under pressure with steep competitive pressures

Buy: Whirlpool of India Ltd.

Target

ICICI Securities Limited

Steep competitive pressures have impacted Whirlpool’s Q3FY23. It reported revenue and adjusted PAT decline of 15.5% and 43.7%, respectively. We note the trade/ consumer discounts in white goods continue to remain high and it is likely to hurt margins in Q4FY23 as well as H1FY24.