X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
WHIRLPOOL OF INDIA 2017-18 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

WHIRLPOOL OF INDIA 2017-18 Annual Report Analysis
Fri, 21 Dec

WHIRLPOOL OF INDIA has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

WHIRLPOOL OF INDIA Income Statement Analysis

  • Operating income during the year rose 22.6% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 14.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.6% in FY18 as against 12.4% in FY17.
  • Depreciation charges increased by 16.1% and finance costs decreased by 25.5% YoY, respectively.
  • Other income grew by 18.8% YoY.
  • Net profit for the year grew by 12.9% YoY.
  • Net profit margins during the year declined from 7.7% in FY17 to 7.1% in FY18.

WHIRLPOOL OF INDIA Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 39,408 48,319 22.6%
Other income Rs m 730 867 18.8%
Total Revenues Rs m 40,138 49,186 22.5%
Gross profit Rs m 4,888 5,600 14.6%
Depreciation Rs m 875 1,015 16.1%
Interest Rs m 59 44 -25.5%
Profit before tax Rs m 4,685 5,408 15.4%
Tax Rs m 1,580 1,902 20.4%
Profit after tax Rs m 3,105 3,507 12.9%
Gross profit margin % 12.4 11.6
Effective tax rate % 33.7 35.2
Net profit margin % 7.7 7.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



WHIRLPOOL OF INDIA Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 13 billion as compared to Rs 13 billion in FY17, thereby witnessing an increase of 0.9%.
  • Current assets fell 4% and stood at Rs 21 billion, while fixed assets rose 12% and stood at Rs 5 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 32 billion as against Rs 29 billion during FY17, thereby witnessing a growth of 12%.

WHIRLPOOL OF INDIA Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 14,831 17,963 21.1
 
Current Liabilities Rs m 12,539 12,658 0.9
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 28,761 32,258 12.2
 
Current assets Rs m 22,332 21,484 -3.8
Fixed Assets Rs m 4,274 4,790 12.1
Total Assets Rs m 28,761 32,258 12.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



WHIRLPOOL OF INDIA Cash Flow Statement Analysis

  • WHIRLPOOL OF INDIA's cash flow from operating activities (CFO) during FY18 stood at Rs 4 billion, an improvement of 0.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -4 billion, an improvement of 130.6% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -465 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -774 million from the Rs 2 billion net cash flows seen during FY17.

WHIRLPOOL OF INDIA Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 3,836 3,842 0.2%
Cash Flow from Investing Activities Rs m -1,801 -4,151 -
Cash Flow from Financing Activities Rs m -13 -465 -
Net Cash Flow Rs m 2,022 -774 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for WHIRLPOOL OF INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 27.6, an improvement from the EPS of Rs 24.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,370.0, stands at 44.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 9.8 times, while the price to sales ratio stands at 3.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 38.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 310.6 380.9
TTM Earnings per share Rs 24.5 27.6
Diluted earnings per share Rs 24.5 27.6
Price to Cash Flow x 43.7 38.4
TTM P/E ratio x 44.9 44.9
Price / Book Value ratio x 8.4 9.8
Market Cap Rs m 173,812 173,812
Dividends per share (Unadj.) Rs 3.0 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for WHIRLPOOL OF INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.7x during FY18, from 1.8x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 124.2x during FY18, from 80.5x during FY17. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 19.5% during FY18, from 20.9% during FY18. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 30.4% during FY18, from 32.0% during FY17. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company improved and stood at 11.0% during FY18, from 11.0% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.8 1.7
Debtors’ Days Days 19 18
Interest coverage x 80.5 124.2
Debt to equity ratio x 0.0 0.0
Return on assets % 11.0 11.0
Return on equity % 20.9 19.5
Return on capital employed % 32.0 30.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how WHIRLPOOL OF INDIA has performed over the last 5 years, please visit here.

WHIRLPOOL OF INDIA Share Price Performance

Over the last one year, WHIRLPOOL OF INDIA share price has moved up from Rs 1,549.7 to Rs 1,370.0, registering a loss of Rs 179.7 or around 11.6%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 20,733.4 (down 0.5%). Over the last one year it has moved down from 22,676.9 to 20,733.4, a loss of 1,944 points (down 8.6%).

Overall, the S&P BSE SENSEX is up 7.6% over the year.

(To know more, check out historical annual results for WHIRLPOOL OF INDIA and quarterly results for WHIRLPOOL OF INDIA)

Equitymaster requests your view! Post a comment on "WHIRLPOOL OF INDIA 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

WHIRLPOOL OF INDIA Announces Quarterly Results (3QFY19); Net Profit Up 14.1% (Quarterly Result Update)

Feb 5, 2019 | Updated on Feb 5, 2019

For the quarter ended December 2018, WHIRLPOOL OF INDIA has posted a net profit of Rs 606 m (up 14.1% YoY). Sales on the other hand came in at Rs 12 bn (up 26.5% YoY). Read on for a complete analysis of WHIRLPOOL OF INDIA's quarterly results.

WHIRLPOOL OF INDIA Announces Quarterly Results (2QFY19); Net Profit Up 6.9% (Quarterly Result Update)

Nov 5, 2018 | Updated on Nov 5, 2018

For the quarter ended September 2018, WHIRLPOOL OF INDIA has posted a net profit of Rs 786 m (up 6.9% YoY). Sales on the other hand came in at Rs 12 bn (up 1.9% YoY). Read on for a complete analysis of WHIRLPOOL OF INDIA's quarterly results.

Dixon Technologies Ltd. (IPO)

Sep 5, 2017

Should you subscribe to the IPO of Dixon Technologies (India) Ltd?

More Views on News

Most Popular

The RCom Bankruptcy: 5 Lessons for Smallcap Investors(Profit Hunter)

Feb 7, 2019

Managements of companies can create or ruin their fortunes. Why is management quality such an important factor in valuing businesses? Read on to find out...

The One Real Estate Stock to Buy Now(The 5 Minute Wrapup)

Feb 13, 2019

The real estate sector is ready to make a comeback. This is the stock to consider buying.

How We Pick the Most Profitable Stocks from the Portfolios of Super Investors(The 5 Minute Wrapup)

Feb 8, 2019

This is the trick to following super investors and not losing money.

Don't Be Afraid of the Market; Buy Stocks Like This One(The 5 Minute Wrapup)

Feb 14, 2019

During this tough period in the market, a contrarian approach holds huge potential upside for this Smart Money Secrets stock.

Small Caps Under Seige: Could This Be A Once-in-a-Decade Wealth Creating Opportunity?(Profit Hunter)

Feb 14, 2019

Don't let the dark clouds hovering over small caps scare you into hiding; it will rain gold as sentiments recover. Indeed, there is a blood bath. And if you are a first time investor, the correction is deep enough to scare you out of markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK WHIRLPOOL OF INDIA

  • Track your investment in WHIRLPOOL OF INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON WHIRLPOOL OF INDIA

WHIRLPOOL OF INDIA - BAJAJ ELECTRICALS COMPARISON

COMPARE WHIRLPOOL OF INDIA WITH

MARKET STATS