Whirlpool India Q4 Review - Market Leading Revenue Growth: ICICI Securities

Whirlpool India Q4 Review - Market Leading Revenue Growth: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Three points from Whirlpool of India Ltd.'s Q4 FY21:

  1. Strong consumer off-take continued from Q3 FY21, likely higher revenue from e-commerce and rural markets and selective pricing actions were chief reasons for 31.5% revenue growth YoY.

  2. There is double-digit volume-led growth across segments and company reported higher growth than market.

  3. While gross margin declined 250 basis points, Ebitda margin was up 50 basis points due to cost saving initiatives and lower ad-spend (our view).

We remain positive on the company due to its established competitive advantages.

Click on the attachment to read the full report:

ICICI Securities Whirlpool Q4FY21 Result Update.pdf

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