Whirlpool India Q4 Review - Strong Operating Performance; Balance Sheet Strengthens: Motilal Oswal

The Whirlpool Corp. logo sits on a fridge. (Photographer:Chris Ratcliffe/ Bloomberg News).

Whirlpool India Q4 Review - Strong Operating Performance; Balance Sheet Strengthens: Motilal Oswal

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.

Motilal Oswal Report

Whirlpool of India Ltd.'s revenue was up 32% YoY in Q4 FY21 and was 9% ahead of our estimate, with two-year compound annual growth rate at 15%.

Operating leverage led to Ebitda margin expansion of 60 basis point YoY to 10.7%.

Adjusted profit after tax grew 42% to Rs 1.2 billion and was 6% ahead of our estimate.

Strong pent-up demand post the first lockdown enabled the company to end FY21 with broadly flat revenue.

The management commentary suggests market share gains across all categories.

Click on the attachment to read the full report:

Motilal Oswal Whirlpool Q4FY21 Result Update.pdf

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