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In the year that Whirlpool Corporation – the World’s No.1 Home Appliance Company – is celebrating its 100th year, it’s subsidiary Whirlpool of India, today announced its Full Year earnings at Rs. 166.0 Crore in profit after tax (PAT) representing a year of solid growth and profit.
Whirlpool’s total turnover (Net sales & Other Operating income) grew to Rs. 2704.12 crore, a growth of 21.8% over 2219.23 crore recorded in the corresponding period last fiscal. The company has recorded an EBIDTA margin of 10.7% for the year. Q4 revenue grew by 6% to 611.3 Crore, despite a delayed summer that impacted March sales. PAT was 47.16 Crore and EBITDA margin for Q4 at 12.3% was better than the full year average of 10.7%, reflecting the actions taken by the company to offset unprecedented commodity inflation witnessed through most of the last fiscal.
Mr. Arvind Uppal, Chairman of the Board and Managing Director Whirlpool of India and President Asia Pacific, Whirlpool, said "We are pleased with the results which have been achieved in very challenging operating conditions. Whirlpool of India has established new records in revenue and profit in 2010-11 and our balance sheet remains strong with zero debt and a healthy cash position. We take pride in the fact that our company is able to adapt to changing market conditions, and it is this ability that has enabled us to post record results in the last year. We are cautiously optimistic on maintaining profitable growth and have implemented actions to counter the unprecedented inflation in commodities."
With the parent company celebrating its 100th anniversary in 2011, Whirlpool of India plans to launch a number of new products as the year progresses. It recently launched a wide range of 3-door refrigerators and a new hi-tech washing machine to kick off the year.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.