Whirlpool of India Ltd

BSE: 500238 | NSE: WHIRLPOOL | ISIN: INE716A01013 
Market Cap: [Rs.Cr.] 7,959.82 | Face Value: [Rs.] 10
Industry: Domestic Appliances

Company Profile

Whirlpool of India Ltd is a leading manufacturer of home appliances. The company is primarily engaged in manufacturing and trading of Refrigerators, Washing Machines, Air Conditioners, Microwave Ovens and small appliances and caters to both domestic and international markets. They also provide services in the area of product development, information technology, accounting and procurement services to Whirlpool Corporation, USA and other group companies. The company owns three state-of-the-art manufacturing facilities at Faridabad, Pondicherry and Pune. Each of these manufacturing set-ups features an infrastructure that is witness of Whirlpool's commitment to consumer interests and advanced technology. The company exports their product to Russia and East European countries and exports small appliances to the USA under the Kitchen Aid brand. Whirlpool of India Ltd was incorporated in the year 1960 as Kelvinator of India Ltd. The company was formed in collaboration with Kelvinator International Corporation, USA for the manufacture of refrigerators compressors and allied products. In the year 1974, they established a factory for the manufacture of electrical grade stampings in collaboration with Thermal Refrigeration Ltd, UK. In the year 1975, the company established a modern tool room for the manufacture of tools dies jigs and fixtures. In the year 1976, they established a factory for the manufacture of electromechanical cash registers in collaboration with Gross Cash Registers Ltd, UK. Aravalli Svachalit Vahan Ltd, a sick unit at Alwar merged with the company with effect from May 26, 1982. In the year 1985, the company entered into a collaboration agreement with White Consolidated Industries Inc, USA for the manufacture of washing machines. In the year 1986, they introduced a 300-litre 2-door refrigerator for the lower and middle class consumers. In addition, they introduced a single speed (VIP-1) and 3-speed kick-start (VIP-3) along with two new models of cash registers. In the year 1993, the company entered into a tie-up with Whirlpool Corporation USA whereby Whirlpool contracted to purchase from White Consolidated Industries Inc, USA. Also, Expo Machinery Ltd, a wholly owned subsidiary merged with the company. In November 1995, the Whirlpool brand was launched along with a new 310-litre refrigerator. In the year 1996, Whirlpool Washing Machines Ltd merged with the Kelvinator India Ltd and the company changed their name from Kelvinator of India Ltd to Whirlpool of India Ltd. The Pondicherry washer unit introduced a re-styled version of a fully Automatic Washing machine and a 3.5 Kg Twin-tub machine under the Whirlpool brand. In the year 1997, the company signed an MoU with Intrinsic Automation System Pvt Ltd for the hiving off their electronic cash register division. They launched a venture consumer finance company in association with Apple Industries. In the year 1998, the company launched range of state of the art non-CFC frost-free refrigerators. In September 1998, Whirlpool Financial India Pvt Ltd another group company of whirlpool Corporation and a wholly owned subsidiary of Whirlpool Financial Mauritius Ltd merged with the company. In the year 2000, the company expanded their product range by launching Airconditioners and Microwave Ovens for the first time. In the year 2001, they launched an indigenously developed Coffee Grinder, Bag Dryer and Voltage Stabilizer. In the year 2002, they launched Magic Cool series of Airconditioners, both Windows and Split type. During the year 2003-04, the company won a major order for Manufacturing and Export of Portable Home Appliances for the US market under the prestigious 'KitchenAid' brand. The company converted a part of the Pondicherry facility into an Export Oriented Unit to maximize the benefits and promote further exports. In December 2003, they launched a new range of Fully Automatic Washing Machines. In May 2004, the company launched new refrigerators in the 'ice magic frost-free range'. They entered into a distribution tie up with Faber India during the year. In April 2005, the company launched 'Genius' a direct cool refrigerator of 180 litres and premium range of window air-conditioners, namely 'MagicCool'. They also launched new Iceberg refrigerators during the year. During the year 2005-06, the company opened four new call centres in B class towns & non-metro cities to facilitate easy consumer access. In addition, as a part of the process innovation initiative, 'Hotlines' were installed in key trade partners? locations to provide direct link to the call centres and service partners. During the year 2006-07, the company launched two new refrigerators, Whirlpool Delight in low capacity Frost Free and Fusion in high capacity Direct Cool. In April 2006, the company launched a Washing Machine - Splash, which is Fully Automatic Top Load. In September 2006, they launched Sparkle and Verve in the Semi Automatic Washing Machine segment and Sensation Classic in Fully Automatic Front Load. In addition, they launched a Microwave (Jet Chef) during the year. During the year 2007-08, the company introduced Whirlpool Microwave Ovens with sixth sense technology. They also launched Power Inverters during the year. In July 2007, the company introduced a stylish and highly featured range of Built-In appliances, imported from Whirlpool Europe. In January 2008, they introduced Whirlpool Purafresh, a range of Water Purifiers throughout the country. The company was also awarded the NDTV Profit Business and Leadership Award 2008 for 'The Best Consumer Durables Company' as an industry leader. In April-May 2008, the entire range in Direct Cool was refreshed with the re-launch of Genius and Fusion brands. In October 2008, the Direct Cool range was augmented with the launch of Fusion 180-litre, the first product in the entry level to have a frost control feature. In January 2009, they launched a completely new range of fully automatic top load and front load washing machines, including the high capacity models, under White Magic and Professional brands. The semi-automatic ranges were also augmented with a 'plastic cabinet' washing machines.

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Key Information

Key Executives:

Arvind Uppal , Chairman & Managing Director

Anand Bhatia , Director

Simon James Scarff , Director

Sanjiv Verma , Director


Company Head Office / Quarters:

A-4 MIDC Ranjangaon,
Taluka-Shirur,
Pune,
Maharashtra-412220
Phone : Maharashtra-91-2138-660100 / Maharashtra-
Fax : Maharashtra-91-2138-232376 / Maharashtra-
E-mail : ravi_kumar_sabharwal@whirlpool.com
Web : http://www.whirlpoolindia.com

Registrars:

Link Intime India Pvt Ltd
Narang Tower,44 Community Centre,Naraina Ind Area,New Delhi-110028

 
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