Whirlpool of India Ltd. share price target

Whirlpool of India Ltd Q2FY19 results Comment Revenue decreased by 28.44% to Rs. 1181.5 Cr in Q2FY19 when compared to the previous quarter. On the other hand, it grew by 1.88% when compared with Q2FY18.

Interest cost stood at `7lacs vs. `63lacs. in the corresponding quarter, last year and `2.19crs. in Q1. Depreciation stood at `23.37crs Vs.`24.84crsdecreased by 6% yoy. Whirlpool India is looking to double its business from the built-in appliances space. This...

Revenue grew in double digits for fourth consecutive quarter, with Q3 revenue up 18% YoY to Rs 9.5 bn on strong unit volume growth and share gains.

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At Whirlpool (WHIRL) analyst meet, management laid out its 4-pillar strategy on Brand, Product, Growth and Foundation. Meaningful investment on brownfield capacity expansion is on the anvil. Target is to grow in double digits, with revenue (ex refs/washers) doubling in 3-5 years.

Led by uptick in consumer demand due to an early Diwali and restocking post-GST, Whirlpool posted a stellar 38% YoY growth in revenue in Q2FY18. The company's strategy to focus on new product launches, distribution expansion and focussed execution is driving strong growth for the company. EBITDA margin marred by input cost inflation While overall EBITDA increased by 27% YoY, EBITDA margin declined by 85bps YoY to 9.8% largely due to raw material headwinds. Gross margin stood at 39% in Q2FY18 as compared to 44% in Q2FY17. However, strong focus on cost management and...

WHIRL posted third consecutive quarter of double digit growth in Q2. Adjusted for GST impact, it posted a phenomenal growth of 38% YoY on strong volume momentum through Q2, as trade channel restocked inventories.

At its AGM, WHIRL indicated strong demand/restocking from retailers and double-digit consumer off-take July onwards. The company also affected price hike of ~2% in mid-July to pass on the higher GST rates.

Whirlpools (WHIRL) board approved an investment of USD 50 mn in redeemable non-convertible senior notes with a maturity of 3 years issued by Whirlpool Brazil. This comes after WHIRL had announced an investment of USD 20 mn in Whirlpool Corp. (parent) with similar structure/tenor in early 2017.