About Whirlpool of India Ltd

Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country. Parent Company Promoted by Whirlpool Corporation, USA, the company is a leading global kitchen and laundry appliances manufacturer. Its brand portfolio includes Whirlpool, KitchenAid, Maytag, Consum, Brastemp, and Amana. In 2023, it reported sales of approximately $19 billion and operates 55 manufacturing and technology research centers. Product Portfolio The company's product portfolio includes refrigerators, washing machines, air conditioners, microwave ovens, built-in and small appliances, etc. Revenue Breakup 1. Refrigerator: 33% in FY24 vs 62% in FY20 2. Washing Machine: 25% in FY24 vs 22% in FY20 3. Air Conditioner: 26% in FY24 vs 6% in FY20 4. Others: 16% in FY24 vs 10% in FY20 Export Presence The company exports its products to 9 countries, which accounts for ~5% of FY24 revenue. Manufacturing & Capex The company owns and operates 3 manufacturing facilities in Faridabad (Haryana), Pune (Maharashtra), and Puducherry. [1] In FY24, the company spent Rs. 66 Cr on capital expenditure and Rs. 42 Cr on R&D expenses. New Products In FY24, the company launched the India XpertCare range of Front Load Washing Machines and the StainWash range of Top Load Washing Machines. It also launched the all-new range of IceMagic Pro 5-Star Direct Cool refrigerators. Acquisition of Elica India In Sept 21, the company acquired an additional ~38% stake in Elica PB India Pvt Ltd for a consideration of Rs. ~425 Cr taking its total shareholding in Elica India to ~87%. [8] This acquisition has strengthened the company’s presence in the cooking appliances segment. This segment registered a revenue growth of 8% YoY and a PBT growth of 40% YoY in FY24. Royalty and Technical Expenses The company pays royalty fees and technical know-how fees for brand assistance to the Whirlpool Group. It paid Rs. ~110 Cr for these expenses in FY24 vs Rs. ~87 Cr in FY20.