WHIRLPOOL · Consumer Durables
Whirlpool of India Ltd. reported revenue of ₹1,873 cr for July to September 2026, +13.7% on the year and −31.3% on the quarter. That is faster than this quarter has grown in recent years (+4.3% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹8,555 cr, +9.8% on the four before.
Operating profit (EBITDA) was ₹40.0 cr, a margin of 2.1%, −139 bps on the year and −296 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 2.1% to 9.1%). Operating costs grew +15.4%, faster than revenue at +13.7%, so operating profit grew less than sales.
Net profit was ₹25.0 cr, −40.5% on the year and −75.7% on the quarter, with earnings per share of ₹1.98. The tax rate of 27% is in line with its recent average. Profit over the last four quarters totals ₹235 cr, −33.2% on the four before.
Of the 20 companies in Consumer discretionary and retail that have reported Q2 FY27 so far, Whirlpool of India Ltd. ranks 15th on revenue growth; the sector median is +16.9%. Its margin moved −139 bps on the year against a sector median of +94 bps.
Retail growth comes from new stores and from sales at existing stores; the statements show the total, the filing shows how much each contributed. The quarterly statements do not carry same-store sales, stores added and revenue per square foot; those come with the filing read.
On earnings per share of ₹18.50 over the last four quarters, the stock at ₹841.55 trades at 45.5 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,536 cr | ₹1,734 cr | ₹2,497 cr | ₹1,713 cr | ₹1,705 cr | ₹2,005 cr | ₹2,432 cr | ₹1,647 cr | ₹1,774 cr | ₹2,181 cr | ₹2,727 cr | ₹1,873 cr |
| YoY | — | — | +22% | +13% | +11% | +16% | −3% | −4% | +4% | +9% | +12% | +14% |
| EBITDA margin | 4.1% | 8.3% | 8.5% | 5.1% | 4.0% | 9.1% | 8.7% | 3.5% | 5.1% | 5.5% | 5.1% | 2.1% |
| Other income, % of PBT | 86% | 36% | 26% | 67% | 86% | 29% | 28% | 103% | 9% | 48% | 50% | 171% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 29% | 30% | 26% | 27% | 25% | 26% | 26% | 27% | 18% | 27% | 26% | 27% |
| Net profit | ₹30.0 cr | ₹79.0 cr | ₹145 cr | ₹54.0 cr | ₹45.0 cr | ₹119 cr | ₹146 cr | ₹42.0 cr | ₹27.0 cr | ₹80.0 cr | ₹103 cr | ₹25.0 cr |
| YoY | — | — | +88% | +42% | +50% | +51% | +1% | −22% | −40% | −33% | −29% | −40% |
| Core profit YoY | — | — | +127% | +33% | +33% | +58% | −2% | −108% | +275% | −50% | −51% | — |
| EPS | ₹2.21 | ₹6.12 | ₹11.34 | ₹4.10 | ₹3.46 | ₹9.40 | ₹11.49 | ₹3.26 | ₹2.09 | ₹6.32 | ₹8.11 | ₹1.98 |
| Flags | 1 | 1 | ✓ | 1 | 2 | 1 | ✓ | 1 | ✓ | 2 | 2 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Whirlpool of India Ltd. reported revenue of ₹1,873 cr (+13.7% on the year) and net profit of ₹25.0 cr (−40.5% on the year) for July to September 2026.
1 check raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
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