The announcement was made on Saturday, 2 June 2018.

Meanwhile, the S&P BSE Sensex was down 13.73 points, or 0.04% at 35,213.53

On the BSE, 1,526 shares were traded on the counter so far as against the average daily volumes of 3,155 shares in the past two weeks. The stock had hit a high of Rs 1,602 and a low of Rs 1,563.45 so far during the day. The stock had hit a record high of Rs 1,680 on 1 January 2018 and a 52-week low of Rs 1,093.40 on 22 June 2017.

The large-cap company has equity capital of Rs 126.87 crore. Face value per share is Rs 10.

Whirlpool of India's board of directors approved a proposal to enter into a strategic joint venture with Elica and acquire 49% equity in Elica PB India. As part of the Joint Venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India. Elica PB India is a subsidiary of Elica SpA Italy and has been operating in India since 2010. The parties expect the transaction to close in the second half of 2018.

Sunil D'Souza, Managing Director of Whirlpool of India said the cooking and built-in appliance space is poised for very strong growth in India based on increasing consumer demand. Whirlpool aims to expand its portfolio of innovative products with Elica's impressive capabilities in consumer insights, design, manufacturing and also broaden its distribution.

Whirlpool of India's net profit rose 22.86% to Rs 91.38 crore on 24.22% increase in total income to Rs 1281.13 crore in Q4 March 2018 over Q4 March 2017.

Whirlpool of India is one of the leading manufacturers and marketers of major home appliances in the country.

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The Board of Whirlpool of India at its meeting held on 01 June 2018 accorded their approval for acquisition of 49% of the issued and paid up share capital of Elica PB India and accordingly the Company has executed the Share Purchase Agreement in this regard.

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Whirlpool of India announced that the Board of Directors of the Company at its meeting held on 8 May 2018, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Net profit of Whirlpool of India rose 22.86% to Rs 91.38 crore in the quarter ended March 2018 as against Rs 74.38 crore during the previous quarter ended March 2017. Sales rose 23.97% to Rs 1257.74 crore in the quarter ended March 2018 as against Rs 1014.55 crore during the previous quarter ended March 2017.

For the full year,net profit rose 12.94% to Rs 350.67 crore in the year ended March 2018 as against Rs 310.49 crore during the previous year ended March 2017. Sales rose 22.61% to Rs 4831.91 crore in the year ended March 2018 as against Rs 3940.77 crore during the previous year ended March 2017.

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