Whirlpool Q4 earnings shoot up 2.74 times on healthy margin June 3, 2008

Whirlpool of India, a leading manufacturer of home appliances, disclosed a phenomenal rise in standalone net profit for the quarter ended March 2008, helped by healthy sales growth and cost cutting measures adopted by the company.

During the quarter, the profit of the company jumped 2.74 times to Rs 165.40 million from Rs 60.40 million in the same quarter, previous year.

Net sales for the quarter climbed 19.64% to Rs 4,174.20 million, while total income for the quarter rose 18.89% to Rs 4,186.20 million, when compared with the prior year period. The company posted earnings of Rs 0.95 a share during the quarter, registering 5.28 times growth over prior year period.

Quarterly Results – Standalone (Rs in mn)
As at	Mar – 08	Mar – 07	%Change
Net Sales	4174.20	3489.10	19.64
Net Profit	165.40	60.40	173.84
Basic EPS	0.95	0.18	427.78

During the quarter, the company announced a rise in operating margin of 212.36 basis points to 6.72% on lower input cost. Interest cost increased 95.75% to Rs 92.20 million, while depreciation cost rose 34.18% to Rs 95.40 million over previous year period. Shares of the company gained Rs 2.2, or 4.62%, to settle at Rs 49.8. The total volume of shares traded was 70,631 at the BSE. (Tuesday)

Source – www.myiris.com

Whirlpool swings to profit in FY08 on better sales & margin May 29, 2008

Whirlpool of India, a leading manufacturer of home appliances, swung to a profit for the year ended March 2008, due to healthy growth in sales and improvement in operating efficiency. During the year, the company reported profit of Rs 323.20 million compared with a loss of Rs 53.20 million in the previous year.

Net sales for the year rose 21.60% to Rs 18,004.40 million, while total income during the year rose 20.82% to Rs 18,084.20 million, when compared with the prior year. It posted earnings of Rs 1.14 a share during the year compared with a loss of Rs 1.62 a share in prior year.

Annual Results – Standalone (Rs in mn)
As at	Mar – 08	Mar – 07	%Change
Net Sales	18004.40	14805.80	21.60
Net Profit	323.20	(60.40)	0.00
Basic EPS	1.14	(0.18 )	0.00

During the year, the company disclosed a rise in operating margin of 120.66 basis points to 4.40% on lower input cost. Interest cost increased 28.46% to Rs 209.90 million while depreciation cost rose 8.51% to Rs 373.50 million over previous year.

Shares of the company gained Rs 2.2, or 4.62%, to settle at Rs 49.8. The total volume of shares traded was 70,631 at the BSE. (Tuesday)

Source – www.myiris.com

Whirlpool of India reports net PAT of Rs 32.3cr for FY07-08 May 26, 2008

Whirlpool of India, a subsidiary of Whirlpool Corporation, the World’s No. 1 Home Appliances Company, today reported a net Profit after Tax of Rs. 32.3 crores for the FY 2007-2008, recording a remarkable turnaround in its financial performance.

The company’s sales surpassed its tally of the previous year, even as the domestic home appliance industry remained sluggish on account of rising input costs and other factors. Whirlpool recorded a Sales turnover of Rs. 1933 Crores a growth of 21% over the previous year.

Announcing the annual results, Mr. Arvind Uppal, Managing Director India and Region Head Asia Pacific (excluding Greater China) Whirlpool said “I am pleased that we are back in the black. Our focus on sustainable profitable growth is definitely yielding positive results.”

Whirlpool of India is on an aggressive growth path and has set impressive targets for 2008. The company recently launched the revamped ‘Genius’ and ‘Fusion’ range of refrigerators, Whirlpool ‘Professional’ series of washing machines and refrigerators, Whirlpool ‘Mastermind’ air conditioners and Whirlpool ‘Max’ microwave ovens, further enhancing its already strong product portfolio. In 2008, the company will continue to strengthen its foothold in these four categories, and at the same time, focus on the two new categories it has ventured into, namely Water Purifiers and Built-in Appliances. Whirlpool ‘Purafresh’ Reverse Osmosis water purifiers have been recently launched by the company. All the newly launched products boast company’s patented 6th Sense technology connoting intuitive understanding of a woman’s need.

Reference – www.moneycontrol.com

Whirlpool launches new appliances range January 8, 2008

Whirlpool Launches New Home Appliances

New Delhi, Oct 10 – Keen to cash in on the festive season, home appliances company Whirlpool Corp announced here Wednesday the launch of a new range of home appliances and Rs.4.5 million worth bumper prizes.

The new product range includes frost-free refrigerators named ‘Professional’ and ‘MagiCook’ microwave ovens. The bumper prizes are 30 home makeovers that include refurbishing, painting and carpeting worth Rs.150,000 each.

‘The company targets a growth of 20 percent this year over last year,’ said Arvind Uppal, managing director of Whirlpool Of India Ltd, a subsidiary of Whirlpool Corp, at the launch.

‘Our target customers are contemporary woman professionals who are also homemakers,’ he added.

With this launch, the company expects to increase its share in the frost-free refrigerator segment to 30 percent. It reportedly holds 22.1 per cent market share in this segment currently.

‘With this launch we are confident about attaining a leadership position in the frost-free segment,’ said Shantanu Das Gupta, vice-president marketing of Whirlpool Of India Ltd.

Commenting on the company’s marketing strategy, Gupta said: ‘We will come up with two new advertisements. We will make these products available only at 1,500 retail outlets across India out of the total 7,500 such stores.’

He also stated that every year buying increases by at least 30 percent during the festive season in comparison to sales during rest of the year.

Bollywood actors Kajol and Ajay Devgan will continue to endorse the brand, he added.

Resources  – http://www.earthtimes.org/articles/show/121838.html

Whirlpool India Plans January 3, 2008

Whirlpool India plans breakeven by March’ 08

New Delhi: Home appliances major Whirlpool India break even by the end of this fiscal while targeting a 20-25 per cent jump in its topline products during the second quarter.

”We are improving quarter on quarter and are hoping for a breakeven by March-2008,” company’s Vice President (Marketing) Shantanu Das Gupta told reporters here after launching new products, including refrigerators and microwaves.

Company’s operating profit was Rs 63 crore last year and net earnings were Rs 15 crore.

The company will invest Rs 80 crore in next 12-18 months in expanding its product portfolio, Managing Director Arvind Uppal  said, adding that volumes are increasing by 20-25 per cent.
 
”Exports are under pressure as the margins have gone down and are affecting our profitability,” Gupta said, adding that it accounted nearly 12 per cent of company’s total revenues.
 
With the launch of new products, company expects a growth  of 20 per cent in this festive season over last year.
 
”We expect to increase share in the fast growing frost free segment to 30 per cent by the end of this fiscal. The company is also targeting an agressive 10 per cent share in tne microwave category,” he added.
 
Whirlpool products are avilable in 7,500 retail outlets across  the country. It has a 25 per cent market share in direct cool segment and 22.5 per cent in frost free. It is also mulling to  enter into the water purifier and modular kitchen segment.
 
The new Whirlpool professional refrigerators are priced at  Rs 31,200-Rs 38,100 while the microwave at Rs 4,000-9,250. 
 
The company has three manufacturing plants at Faridabad, Ranjangaon and Puducherry.

Whirlpool - World’s leading manufacturer and marketer of major home appliances, with annual sales of more than $19 billion and more than 80000 employees.