Whirlpool of India Ltd Share Price – NSE  / BSE

Consumer Durables, Small Cap

Whirlpool of India added 2.86% to Rs 1902.95 while PG Electroplast jumped 3.56% to Rs 987.80 on the BSE.

Under the arrangement, PGEL will manufacture some of the stock keeping units (SKUs) for Whirlpool at its factory at Roorkee. PGEL is already an existing supplier of Whirlpool branded air conditioners and both companies will continue to evaluate the potential expansion opportunities.

Narasimhan Eswar, managing director of Whirlpool of India said, “We are excited to announce that Whirlpool has tied up with PG Electroplast to manufacture certain SKUs of its semi-automatic washing machines. With Whirlpool’s exceptional designs and technology and PGEL’s manufacturing expertise, today’s announcement rearms our commitment to the Government’s ‘Make in India’ initiative and providing best in class products to our consumers at an aordable price point.”

Vikas Gupta, managing director (Operations) of PG Electroplast said, “We are pleased to deepen our relationship with Whirlpool. As a leading home appliance manufacturer in India, Whirlpool is renowned for their industry-leading products. With this association we aim to unlock new opportunities for growth and help Whirlpool deliver exceptional value to its customers while setting new benchmarks in efficiency.”

Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets.

PG Electroplast is a trusted one-stop solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing to most leading consumer durable and electronics brands in India. The company has one of the biggest capacities in Plastic Injection molding and has capabilities across the value chain in original equipment manufacturing (OEM) and original design manufacturing (ODM) products like room ACs, washing machines, air-coolers, and LED TVs.

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Revenue growth was driven by strong volume growth in refrigerators and washers compared to the previous year, along with a more premium product mix that contributed to value growth, while profit improvement was fueled by volume growth, cost productivity initiatives that led to better margins and an enhanced mix of premium and high-margin products.

Profit before tax in second quarter of FY25 stood at Rs 73.37 crore, up by 40.34% from Rs 52.28 crore in same quarter last year.

Consolidated EBITDA advanced 18.8% year on year (YoY) to Rs 87 crore in the quarter ended 30 September 2023.

Narasimhan Eswar, managing director said, “We continue to deliver strong and profitable share growth which is in line with our long term strategy while the overall industry for refrigerators and washers was flattish in Q2. I am proud of our team that has implemented our clearly defined strategic choices with strong executional discipline and excellence to help us deliver these results.”

Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets.

Shares of Whirlpool of India shed 0.55% to Rs 2,062.65 on Friday, 8 November 2024.

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Net profit of Whirlpool of India rose 42.21% to Rs 52.02 crore in the quarter ended September 2024 as against Rs 36.58 crore during the previous quarter ended September 2023. Sales rose 12.58% to Rs 1712.99 crore in the quarter ended September 2024 as against Rs 1521.56 crore during the previous quarter ended September 2023.

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Whirlpool of India will hold a meeting of the Board of Directors of the Company on 8 November 2024

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