WHIRLPOOL OF INDIA Announces Quarterly Results (1QFY20); Net Profit Up 16.5%

Fri, 16 Aug

WHIRLPOOL OF INDIA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

WHIRLPOOL OF INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Net Sales	Rs m	16,511	13,552	19,742	45.7%	19.6%
Other income	Rs m	357	253	274	8.2%	-23.1%
Turnover	Rs m	16,868	13,805	20,016	45.0%	18.7%
Expenses	Rs m	14,070	11,838	16,718	41.2%	18.8%
Gross profit	Rs m	2,440	1,714	3,025	76.5%	23.9%
Depreciation	Rs m	272	320	305	-4.5%	12.0%
Interest	Rs m	18	33	45	34.6%	154.0%
Profit before tax	Rs m	2,507	1,614	2,949	82.7%	17.6%
Tax	Rs m	869	573	1,041	81.5%	19.7%
Profit after tax	Rs m	1,638	1,041	1,908	83.3%	16.5%
Gross profit margin	%	14.8	12.6	15.3
Effective tax rate	%	34.7	35.5	35.3
Net profit margin	%	9.7	7.5	9.5

Year-on-Year Performance:

• The company's operating income during the quarter grew 19.6% on a year-on-year (YoY) basis. The expenses were up by 18.8% YoY during the same period.
• The company's operating profit increased by 23.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 15.3% in 1QFY20.
• Depreciation charges increased by 12.0% and finance costs increased by 154.0% YoY, respectively.
• Other income declined by 23.1% YoY during the quarter.
• Net profit for the quarter increased by 16.5% YoY. Net profit margins during the quarter declined from 9.7% in 1QFY19 to 9.5% in 1QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 45.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 41.2% QoQ during the same period.
• The company's operating profit increased by 76.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.3% in 1QFY20 as against 12.6% in 4QFY19.
• Net profit for the quarter increased by 83.3% QoQ, while net profit margins increased from 7.5% in 4QFY19 to 9.5% in 1QFY20.

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

WHIRLPOOL OF INDIA Share Price Performance

Over the last one year,WHIRLPOOL OF INDIA share price has moved down from Rs 1,730.6 to Rs 1,539.0, registering a Loss of Rs 191.6 or around 11.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 22,494.3 (down 1.0%). Over the last one year it has moved up from 21,854.1 to 22,494.3, a gain of 640 points (up 2.9%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 1,539.0, the price to earnings (P/E) ratio of WHIRLPOOL OF INDIA stands at 45.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.1 times.