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Whirlpool Of India Ltd Stock Analysis

Large Cap
Evaluated by 2462 users | BSE: 500238 | NSE: WHIRLPOOL |
Consumer Durables - Domestic Appliances
1. Right Stock
Very Good
2. Right Price
3. Right Time

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Whirlpool Of India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation
Value Creation Index Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Capital Employed 44.34%28.77%24.47%19.43%26.28%24.2%24.02%21.14%20.9%20.8%13.39%-
Value Creation Index 2.231.100.780.420.920.770.750.540.520.52-0.02-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 2,7032,6582,7732,8353,2943,4403,9414,8325,3985,9935,9006,221
Y-o-Y Gr. Rt.--1.7%4.3%2.2%16.2%4.4%14.6%22.6%11.7%11%-1.6%-
Adjusted EPS (Rs.) 13.4810.1110.5210.3217.1119.5724.7527.0831.9437.3427.4922.86
Y-o-Y Gr. Rt.--25%4.1%-1.9%65.8%14.4%26.5%9.4%18%16.9%-26.4%-
Book Value per Share (Rs.) 27.9237.5447.6157.371.1591.88114.57138.48165.39196.75218.15225.72
Adjusted Net Profit 171128133131217248314344405474349290
Net Op. Cash Flow (Rs. Cr.) 205217144204300344384384402380524-
Debt to Cash Flow from Ops 00000000000-
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Whirlpool Of India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  10 yrs 5 yrs 3 yrs 1 yr
Net Sales 9.3%11.4%6.9%-1.6%
Adjusted EPS 11.8%7%0.5%-26.4%
Book Value per Share 21.618.916.410.9
Share Price 27.8% 17.4% 14.6% -5.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity (%) 43.3528.124.0919.2826.2323.8523.7120.9520.5820.212.9910.3
Operating Profit Margin (%) 9.928.638.097.8810.3511.4812.5311.612.0211.639.177.64
Net Profit Margin (%) 6.334.824.814.626.597.227.977.117.517.915.914.66
Debt to Equity 000000000000
Working Capital Days 9693828777777976747990172
Cash Conversion Cycle 5-11-12-11-15-29-34-38-32-24-2990
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Corporate Governance What do we look at?
Corporate Governance
Board Credentials
Promoter's holding
Transparency
Integrity
Entity Percentage Holding
Promoters 75.00%
Institutions 13.95%
Non-Institutions 11.05%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Past 10 year's financial track record analysis by Moneyworks4me indicates that Whirlpool Of India Ltd is a good quality company.

Whirlpool Of India Ltd's earnings have grown by 7%, whereas share price has appreciated 17.4% CAGR over the past five years, indicating the company’s share price is likely overvalued. However, for specific investment actions please consult your investment advisor.

Whirlpool Of India Ltd share price has appreciated 27.8% annually (CAGR) over the past ten years.

Past 10 years financial track record analysis and assessment of future prospects by Moneyworks4me indicates that Whirlpool Of India Ltd is a good long term investment. However, you need to ensure you buy at a right price to earn good returns.

Whirlpool entered India in the late 1980s as part of its global expansion strategy. It forayed into the market under a joint venture with TVS group and established the first Whirlpool manufacturing facility in Pondicherry for washing machine category. In 1995 Whirlpool acquired Kelvinator India Limited and marked an entry into the refrigerator market as well. The same year the company also saw acquisition of major shares in TVS joint venture and later in 1996,

Whirlpool entered India in the late 1980s as part of its global expansion strategy. It forayed into the market under a joint venture with TVS group and established the first Whirlpool manufacturing facility in Pondicherry for washing machine category. In 1995 Whirlpool acquired Kelvinator India Limited and marked an entry into the refrigerator market as well. The same year the company also saw acquisition of major shares in TVS joint venture and later in 1996, Kelvinator and TVS acquisitions were merged to create, Whirlpool of India Limited. This expanded the company's portfolio in the Indian subcontinent to washing machines, refrigerator, microwave ovens and air conditioners. Whirlpool of India Limited headquartered in Gurugram, is now one of the leading manufacturers and marketers of major home appliances in the country. The company owns three state-of-the-art manufacturing facilities at Faridabad, Pondicherry and Pune. Each of the manufacturing set-up features an infrastructure that is witness of Whirlpool's commitment to providing its consumer with forward looking solutions.

Business area of the company

The company is now one of the leading manufacturers and marketers of major home appliances in the country.

Products

  • Refrigerators
  • Washing Machine
  • Kitchenware
  • Air Purifiers
  • Water Purifiers
  • Air Conditioners
  • Commercial Appliances
  • Accessories

Awards

  • 2008: NDTV Profit Business and Leadership Award 2008 for 'The Best Consumer Durables Company'.
  • 2009: Top 20 Best Companies To Work For In India 2009.
  • 2009: Top 25 Best Employers In India 2009.
  • 2009: Frost & Sullivan 2009 Business Development Strategy Leadership Award For Residential Point-Of-Use Water Treatment Systems In India.
  • 2009: CII All India Six Sigma Competition, 2009 Runner Up.
  • 2009: Indo American Corporate Excellence Award For 'The Best US Company In India' 2009.
  • 2009: Product of the Year 2009 Frost Free Refrigerators with Sixth Sense-Best Innovative Product in Refrigerator Category.
  • 2009: ICWAI-National Award for Excellence in Cost Management- Bronze.
  • 2010: Product of the Year 2010 1-2-3 Washing Machine-Best Innovative 2010: Product in the Washing Machine Category.
  • 2010: Readers Digest Trusted Brand Gold Award (2009-2010) For Refrigerators and Washing Machines.
  • 2010: 1 India's Best Company for Leadership Development by Great Place to Work.
  • 2010: 15 India's Best Companies to Work For By Great Place to Work.
  • 2010: Best Consumer Durables Company -Dun & Bradstreet Corporate Awards 2010.
  • 2011: 14 Best Employers in India 2011.
  • 2011: 9 Top Companies for Leaders Asia Pacific 2011.
  • 2011: Best Employers in Asia Pacific 2011.
  • 2011: Readers Digest Trusted Brand Gold Award (2010-2011) For Refrigerators and Washing Machines.
  • 2011: Whirlpool Pondicherry Washer Facility Gold Award In Economic Times Frost & Sullivan Manufacturing Excellence Award - 2011.
  • 2011: CEAMA Appliance Man of the Year for Arvind Uppal.
  • 2012: ICWAI-National Award For Excellence In Cost Management - Silver.
  • 2012: Trophy for Export Excellence in EPO Service for Outstanding Export Performance.
  • 2012: Whirlpool Ace Washing Machine Received The Silver Medal In The Prestigious International Edison Awards For Being The Best New Product In The Lifestyle And Social Impact Category.
  • 2013: Icemagic (Geny) Wins Prestigious Designomics Award 2013.
  • 2013: Whirlpool 360 Bloomwash Voted India's Best Washing Machine.
  • 2013: Whirlpool India Wins 2nd Prize for Best Technical Paper in 29th Indian Value Engineering Conference.
  • 2013: Woil Named Readers Digest Trusted Brand Gold Award 2013 For Refrigerators And Washer.
  • 2014: Protton World Series Refrigerator Range Wins Prestigious Designomics 2014 Award.
  • 2014: Neo I Chill Refrigerator and 360 degree Bloomwash Washer Receive Prestigious India Design Mark 2014.
  • 2015: Protton World Series Refrigerator Range Wins Prestigious Designomics 2015 Award.
  • 2015: Whirlpool India Recognized As One Of The Best Employers- Aon Hewitt Best Employer- India 2015.
  • 2016: India Design Mark 2016.
  • 2016: Aon Best Employer 2016.
  • 2018: India's Best Companies to Work for 2018.

Milestones

  • 1908: The first automatic washer was launched to public in late 1908, by 1900 Corporation which in 1911 was renamed to Upton Machine Company.
  • 1911: Louis Upton founded the Upton Machine Company in that year to produce motor-driven wringer washers. 
  • 1916: First order of washers was sold to Sears, Roebuck & Co.
  • 1929: Upton Machine Company merged with Nineteen Hundred Washer Company of NewYork . 
  • 1948: First 'Whirlpool' brand automatic washer with dual distribution was introduced. It included two product lines one each was distributed through Sears and Nineteen Hundred.
  • 1957: The company was rechristened as ' The Whirlpool Corporation.' 
  • 1958: The company moved out of country for the first time and invested in Brazilian appliance market through purchase of equity in Multibras S.A.
  • 1968: The Elisha Gray II Research & Engineering Center was completed in BentonHarbor. In the same year the company's revenues crossed the legendary $1 billion mark for the first time.
  • 1978: Within a decade company doubled its feat of $1 billion mark and reached the $2 billion revenue level. 
  • 1986: The 'Kitchen Aid' division of Hobart Corporation was purchased.
  • 1987: Whirlpool tied-up with Sundaram Clayton Ltd. of India to form TVS Whirlpool.
  • 1989: This was a historic year since the revenues catapulted to heights of over $6 billion mark. Also, the joint venture with N.V.Philips of Netherlands called Whirlpool Europe B.V. was formed to manufacture and market appliances in Europe. 
  • 1990: The company established joint venture with Matsushita Electric Company of Japan to produce vacuum cleaners for the North American market. 
  • 1991: The company introduced and committed globally to its Worldwide Excellence System, which is a TQM program dedicated to exceeding customer expectations. The vision to globalize 'Whirlpool Corp'. was realized in the same year. 
  • 1993: First time Whirlpool became the No.1 stand-alone brand in UK, Ireland, Netherlands and Belgium
  • 1995: Whirlpool Corp. acquired majority of stake in the TVS Whirlpool The DC manufacturing facility of Kelvinator India was also acquired.
  • 1996: Whirlpool Washing Machines and Kelvinator India Ltd. merged together to form Whirlpool of India Ltd. 
  • 1998: This year gave birth to a new company vision that says, 'Every Home Everywhere with Pride, Passion & Performance.' 
  • 1999: Whirlpool of India crossed the milestone of 1 million sales of appliances. 
  • 2002: The ' Whirlpool Strategic Architecture ' was launched as a framework to achieve the vision. The revenues of Whirlpool Corp. soared to $10.5 billion.
  • 2013: Whirlpool India launches new Masterpiece Direct Cool Refrigerator
  • 2014: Whirlpool of India opens Whirlpool Haute Kitchen - its first exclusive Built-in experience centre in 
  • 2015: Whirlpool of India opens Whirlpool Haute Kitchen - its first exclusive Built-in experience centre in Bangalore
  • 2016: Whirlpool of India unveils its new range of 'air purifiers' in India
  • 2016: Whirlpool of India introduces NeoFresh - the new range of frost free refrigerators based on intellifresh technology
  • 2018: Whirlpool of India introduces the advanced range of dishwashers from whirlpool
  • 2020: Whirlpool of India launches ‘Intellifresh Pro’
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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