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Indian listed arm of US-based Whirlpool, manufacturing and selling refrigerators, washing machines and other home appliances.
Indian listed arm of US-based Whirlpool, manufacturing and selling refrigerators, washing machines and other home appliances.
Makes most of what it sells in its own Indian plants and sells through dealers, large retail chains and online marketplaces, with refrigerators the biggest category. The US parent licenses its brand and technology for a royalty.
Moat: narrow (brand, distribution). Global Whirlpool brand and dealer network, but competes in a commoditized appliance segment.
Headquarters: Gurugram, India · Founded: 1960 · Employees: 16,610
Size Whirlpool Of India (WHIRLPOOL.NS) is an India Consumer Discretionary company (Electronics/Appliances) with a market value of $1.11B, the 567th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹826.70 on 6 Nov 2026.
Performance Over six months the shares fell 15.5%, against -17.5% for the median peer and 0.0% for the India market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +4.0%); the operating margin is 2.4% (peer median 7.6%).
Valuation It trades at 29.3× forward earnings against a peer median of 21.8× (5th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 47% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +41 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 12.6 points below its cost of capital (16.2% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹83.3B | ₹80.3B | ₹79.2B | ₹68.3B | ₹66.6B |
| Revenue growth | — | +1% | +16% | +2% | — |
| Gross profit | ₹16.0B | ₹13.8B | ₹13.9B | ₹11.1B | ₹10.8B |
| EBITDA | ₹4.09B | ₹5.15B | ₹5.63B | ₹4.26B | ₹4.01B |
| Net income | ₹2.51B | ₹2.94B | ₹3.59B | ₹2.17B | ₹2.19B |
| Free cash flow | n/a | ₹1.76B | ₹6.10B | ₹6.71B | ₹1.62B |
| Capital expenditure | n/a | ₹2.63B | ₹1.20B | ₹661M | ₹1.81B |
| Total debt | n/a | ₹3.59B | ₹2.84B | ₹2.31B | ₹1.12B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Whirlpool Of India WHIRLPOOL.NS | $1.11B | -16% | +6% | 2% | 29.3× | 47.2% |
| LG Electronics India LGEINDIA.NS | $12.6B | +14% | +1% | 9% | 52.1× | 36.6% |
| Voltas VOLTAS.NS | $3.84B | -19% | +4% | 4% | 50.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WHIRLPOOL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | -6.4% | 8th highest of 21 |
| 6-month return | -15.5% | -17.5% | 10th highest of 20 |
| Distance from 52-week high | -42.5% | -39.9% | 9th lowest of 21 |
| Revenue growth (TTM) | +6.0% | +4.0% | 10th highest of 21 |
| Operating margin | 2.4% | 7.6% | 7th lowest of 21 |
| Forward P/E | 29.3× | 21.8× | 5th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 47.2% | 9.0% | most demanding of 12 |
| Growth delivered (Del g) | +6.4% | +7.9% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | +40.8 pp | -4.9 pp | most demanding of 12 |
| ROIC minus cost of capital | -12.6 pp | +2.3 pp | 3rd lowest of 21 |
| Net debt / EBITDA | -5.4× | -3.3× | 2nd least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Whirlpool Of India WHIRLPOOL.NS | India | $1.11B | -16% | +6% | 2% | 29.3× | 47.2% | +6.4% |
| Hangzhou Heatwell Electric Heating Technology 603075.SS | China | $1.05B | -26% | +11% | 15% | n/a | 9.0% | +7.9% |
| Ningbo Fujia Industrial 603219.SS | China | $1.03B | -26% | +3% | 4% | 55.6× | n/a | n/a |
| XGimi Technology 688696.SS | China | $1.01B | +7% | +4% | 2% | 27.9× | n/a | n/a |
| Hefei I-TEK OptoElectronics 688610.SS | China | $1.01B | +18% | +72% | 14% | 45.9× | n/a | n/a |
| Woori Technology 032820.KS | South Korea | $984M | -64% | -2% | -12% | n/a | n/a | n/a |
| Actions Technology 688049.SS | China | $1.25B | -1% | +26% | 17% | 30.3× | n/a | n/a |
| Ningbo Hicon Industry Technology 001237.SZ | China | $969M | n/a | -10% | 14% | n/a | 9.9% | -10.3% |
| Whirlpool China 600983.SS | China | $936M | -13% | -2% | 11% | 14.0× | -7.2% | -1.9% |
| Guangdong TCL Smart Home Appliances 002668.SZ | China | $1.37B | -12% | +4% | 12% | 8.4× | -18.7% | +17.4% |
| Guangdong Xinbao Electrical Appliances 002705.SZ | China | $1.38B | -25% | -4% | 4% | 24.3× | -2.7% | +4.2% |
| Tamron 7740.T | Japan | $1.39B | +22% | +2% | 17% | 15.3× | 5.9% | +12.0% |
| Gettop Acoustic 002655.SZ | China | $1.39B | -19% | +11% | 2% | n/a | n/a | n/a |
| OneRobotics (Shenzhen) 6600.HK | Hong Kong | $1.41B | -55% | +48% | -9% | n/a | n/a | n/a |
| Harvia HARVIA.HE | Finland | $858M | +7% | +12% | 19% | 24.7× | 14.0% | +12.8% |
| Shenzhen Newway Photomask Making 688401.SS | China | $1.45B | -27% | +18% | 26% | 17.9× | 23.6% | +23.7% |
| Guangdong Hongjing Optoelectronic Technology 301479.SZ | China | $810M | -46% | +19% | 8% | n/a | n/a | n/a |
| JS Global Lifestyle 1691.HK | Hong Kong | $808M | +9% | 0% | 0% | 18.1× | 23.1% | -16.8% |
| Guoguang Electric 002045.SZ | China | $807M | -13% | -17% | -4% | 10.0× | n/a | n/a |
| Ningbo Dechang Electrical Machinery Made 605555.SS | China | $794M | -29% | +11% | 2% | 42.1× | 11.9% | +16.8% |
| Bear Electric Appliance 002959.SZ | China | $794M | -18% | -7% | 7% | 19.3× | -6.6% | +7.5% |