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Swing Capital

Whirlpool of India Ltd

NSE: WHIRLPOOL BSE: 500238

Whirlpool of India Ltd is one of the leading manufacturers and marketers of major home appliances in the country.[1]

₹855
52W: ₹756 — ₹1474
PE 35.4 · Book ₹283 · +202% vs book
Market Cap₹10,847 Cr
Stock P/E35.4Price to Earnings
ROCE12.7%Return on Capital
ROE9.17%Return on Equity
Div. Yield0.58%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 30.8%

Weaknesses

  • −Stock is trading at 3.01 times its book value
  • −The company has delivered a poor sales growth of 4.37% over past five years.
  • −Company has a low return on equity of 7.04% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -35.2%

Shareholding Pattern

Promoters39.76%
FIIs11.46%
DIIs35.85%
Public12.93%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51%51%51%51%51%51%39.76%▼11.239.76%
FIIs8.93%9.48%▲0.69.7%▲0.210.72%▲1.010.29%▼0.411.12%▲0.811.89%▲0.811.46%▼0.4
DIIs31.3%31.49%▲0.230.81%▼0.728.11%▼2.728.73%▲0.628.49%▼0.235.55%▲7.135.85%▲0.3
Public8.77%8.01%▼0.88.48%▲0.510.17%▲1.79.96%▼0.29.39%▼0.612.79%▲3.412.93%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,4001,3981,6122,3841,5821,5651,8902,3171,5021,624
Expenses1,3481,3591,4912,1901,5141,5211,7212,1231,4661,559
Operating Profit523912119368441691953665
OPM %4%3%7%8%4%3%9%8%2%4%
Net Profit26156513442271111352713
EPS ₹2.011.165.1210.563.292.118.7410.652.141.06

AI Insights

Revenue Trend

TTM revenue at ₹7,334Cr, down 1.2% YoY. OPM at 6%.

Debt Position

Borrowings at ₹252Cr. Debt-to-equity ratio: 0.07x. Healthy balance sheet.

Capex Cycle

CWIP at ₹67Cr (8% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 35.85% (+23.38pp change). FIIs: 11.46% (+8.15pp change). Promoters hold 39.76%.

Margin & Efficiency

ROCE declining from 26% (Mar 2014) to 13% (Mar 2025). Working capital days: -8.

Valuation

PE 35.4x with 12.7% ROCE. Price is 202% above book value of ₹283. Dividend yield: 0.58%.

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