Whirlpool Of India - Increase In Guidance By Parent, Clues About Q1 FY22 Of India: ICICI Securities

Signage is displayed on a Whirlpool Corp. refrigerator. (Photographer: Daniel Acker/Bloomberg)

Whirlpool Of India - Increase In Guidance By Parent, Clues About Q1 FY22 Of India: 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

Whirlpool USA, parent of Whirlpool of India Ltd. has increased its revenue and earnings per share guidance after Q2 CY21 results.

Asia business reported 1% revenue decline in Q2 CY21 due to Whirlpool China divestment and Covid-19 related shutdown in India.

The parent has also indicated that India demand started to recover in June. Considering North America, Europe, Middle East and Africa business reported 22% and 50% revenue growth, YoY, we model India business to also report strong growth in H2 FY22 with receding fear of Covid-19 and lockdown.

We model Whirlpool to report an earnings compound annual growth rate of 44.8% over FY21-FY23E with:

  1. recovery in volume growth and

  2. price hikes in high single digits.

Click on the attachment to read the full report:

ICICI Securities Whirlpool Company Update.pdf


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