Whirlpool of India Ltd (NSE:WHIRLPOOL)

Q1 2027 Whirlpool of India Ltd Earnings Call Transcript

Aug 6, 2026 / 11:00 AM GMT

Release Date Price: ₹830.45 (+2.74%)

Transcript

Key Points

Positve

Whirlpool of India Ltd (BOM:500238) delivered record revenue growth of 11.4% in Q1 FY27, the highest quarterly revenue in its history, driven by double-digit growth and market share gains.
The company maintained its number 2 position in refrigerators and washers in multi-brand outlets and retained the number 1 position in direct cool refrigerators for the seventh consecutive month.
The front load washer business saw a triple-digit increase in volume market share, while the air conditioner business grew revenue by over 50%, contributing to a strong premium product mix.
The company successfully completed the sell-in/sell-out of old refrigerators and launched the new 'Luxuriant' 4-door premium refrigerator range, featuring innovative technology like Sixth Sense AI and the fastest convertible freezer in India.
Working capital management remained strong, with the company achieving net negative working capital in the quarter, recovering all investments made in the air conditioner business.
The Elica business continued its robust performance, delivering 26% revenue growth and 22% profit growth, driven by strong market demand and successful product launches.

Negative

Margins were significantly impacted by the Middle East war, leading to high crude oil prices and a sharp depreciation of the Indian rupee (from 88 to 95-96 against the dollar), which increased raw material and import costs.
The company faced additional regulatory cost headwinds, including new energy efficiency standards and higher e-waste accruals, which it could not fully recover through price increases due to competitive industry dynamics.
The management expects the July-September quarter to be financially challenging, as it is the weakest season for refrigerators and air conditioners, while high costs and ForEx pressures persist.
The company lost some market share in the top load washer category due to aggressive entry by new competitors at lower price points, although it is focusing on premiumization to counter this.
The company's ability to pass on price increases is constrained by the need to balance volume growth and market share, as unilateral price hikes in the past led to significant market share losses.
The management acknowledged that the full-year margin outlook is uncertain and heavily dependent on external factors like the resolution of the war and commodity prices, making it difficult to predict profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WHIR.NS - Whirlpool of India Ltd
Q1 2027 Whirlpool of India Ltd Earnings Call
Aug 06, 2026 / 11:00AM GMT

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Presentation
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Do

No.

Ladies and gentlemen.

Good day and welcome to the analyst call of the Pool of India Limited.

We wish to inform you that all participant lines will be in the list only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the call, please signal an operator pressing star, then 0 on your touchstone phone.

Please note that this conference is being recorded.

I now hand the conference over to Mr.

Bhavani Kumarwa from Axiss Capital Limited.

Thank you, and over to you, sir.

Thank you so much, Rao.

Good evening, on behalf of Axis Capital, we

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