Whirlpool Q3 profit falls 40%; board clears full buyout of subsidiary Elica PB

Whirlpool of India’s net profit declined 39.8% year-on-year to ₹26.5 crore in Q3, compared with ₹44 crore in the same quarter last year. Revenue from operations rose 4% YoY to ₹1,773 crore, up from ₹1,704 crore a year ago, supported by stable demand across key product categories during the quarter.

Operating performance, however, showed a mixed trend. EBITDA increased 31.1% year-on-year to ₹90.6 crore in Q3, compared with ₹69 crore in the corresponding period last year. As a result, EBITDA margin

expanded to 5.1% from 4% in Q3 last year, reflecting better operating leverage and cost efficiencies.

On the cost front, Whirlpool of India’s total expenses for Q3 stood at ₹1,744 crore. Cost of raw material and components consumed was ₹871 crore, while purchase of traded goods came in at ₹384 crore. Inventory movement during the quarter led to a reduction of ₹89 crore.

Employee benefit expenses were reported at ₹220 crore, while finance costs stood at ₹10 crore. Depreciation and amortisation expenses were ₹51 crore, and other expenses amounted to ₹296 crore for the quarter.

Whirlpool of India Ltd. manufactures and markets home appliances like refrigerators, washing machines, air conditioners, microwaves, dishwashers and small kitchen appliances primarily for the Indian market. Its parent, Whirlpool Corporation, holds around 75% stake in the company.

For the nine months ended December 31, Whirlpool reported revenue from operations of ₹5,853 crore, compared with ₹5,915 crore in the corresponding period last year. Net profit for the nine-month period declined to ₹215 crore, from ₹243 crore a year ago.

Appointments and acquisition

Bedised announcing its Q3 results, the company also informed the exchanges that the board has approved the appointment of Anil Berera as an Independent Director for a term from March 1, 2026, to November 30, 2029, subject to shareholder approval. The decision was taken based on the recommendation of the Nomination and Remuneration Committee.

Whirlpool of India's board approved acquiring an additional 3.18% equity stake in its subsidiary, Elica PB Whirlpool Kitchen Appliances Private Limited (EPW), a joint venture focused on kitchen appliances like hoods, hobs, and cooktops. Following the transaction, the company will hold 100% ownership in the subsidiary.

Shares of Whirlpool of India ended today's trading 2.2% higher at ₹851.00 in the NSE.