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Last Updated on: 20 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 500238 | NSE: WHIRLPOOL

Fundamental Analysis of Whirlpool of India Ltd

Basic Stock Data

Last Updated: April 19, 2024, 1:32 pm

Market Cap 18,289 Cr.
Current Price 1,442
High / Low1,733/1,186
Stock P/E90.5
Book Value 282
Dividend Yield0.35 %
ROCE8.43 %
ROE6.37 %
Face Value 10.0

Data Source: screener.in

Competitors of Whirlpool of India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Calcom Vision Ltd 211 Cr. 157205/135106 55.60.00 %13.2 %9.34 % 10.0
Dixon Technologies (India) Ltd 45,968 Cr. 7,6847,986/2,766131 2420.04 %24.2 %22.5 % 2.00
Pulz Electronics Ltd 152 Cr. 140205/49.919.5 23.00.00 %52.4 %38.3 % 10.0
Voltas Ltd 43,023 Cr. 1,3011,392/745153 1730.33 %9.67 %4.42 % 1.00
Symphony Ltd 6,557 Cr. 9491,015/82055.8 98.80.53 %14.8 %13.5 % 2.00
Industry Average19,182.20 Cr2,046.2093.06118.480.18%22.85%17.61%5.00

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,4941,7791,3411,6071,5421,7072,0811,6121,3021,6732,0391,5221,536
Expenses1,3931,5901,2851,4781,4591,5591,9491,5231,2581,5671,9151,4481,473
Operating Profit101190551298314813289441061237363
OPM %7%11%4%8%5%9%6%6%3%6%6%5%4%
Other Income351916351181332224132353436
Interest7046253346769
Depreciation35363333384447424552524947
Profit before tax941733544261113114673680995242
Tax %24%25%27%6%28%25%26%27%26%20%22%27%29%
Net Profit7113026413448485492764773830
EPS in Rs5.6210.252.0132.573.466.616.603.781.954.945.902.882.21

Last Updated: April 10, 2024, 5:22 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 6, 2024, 4:46 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4,8325,3985,9935,9006,1976,6686,768
Expenses4,2714,7555,3195,3795,7816,2976,404
Operating Profit561642673521416371365
OPM %12%12%11%9%7%6%5%
Other Income86107143106398127137
Interest492015161527
Depreciation102111129142147185201
Profit before tax541629667470650297273
Tax %35%35%26%25%13%25%
Net Profit351410490352567224209
EPS in Rs27.6432.3038.6427.7344.6417.2615.93
Dividend Payout %14%15%13%18%11%29%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)16.81%19.51%-28.16%61.08%-60.49%
Change in YoY Net Profit Growth (%)0.00%2.70%-47.68%89.24%-121.57%

Growth

Compounded Sales Growth
10 Years:%
5 Years:7%
3 Years:4%
TTM:1%
Compounded Profit Growth
10 Years:%
5 Years:-9%
3 Years:-23%
TTM:-16%
Stock Price CAGR
10 Years:20%
5 Years:0%
3 Years:-13%
1 Year:7%
Return on Equity
10 Years:%
5 Years:13%
3 Years:9%
Last Year:6%

Last Updated: April 16, 2024, 6:13 pm

Whirlpool of India Ltd Balance Sheet

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital127127127127127127127
Reserves1,6692,0192,4372,7313,2313,3933,449
Borrowings0005113411246
Other Liabilities1,4291,5661,8372,1392,1422,2681,894
Total Liabilities3,2263,7124,4005,0485,6345,9005,517
Fixed Assets4465087097071,8031,9171,909
CWIP33434441762011
Investments456659567207000
Other Assets2,2912,5013,0804,0933,7543,9633,597
Total Assets3,2263,7124,4005,0485,6345,9005,517

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 38440238052498270
Cash from Investing Activity -415-262-72338-459-101
Cash from Financing Activity -46-62-87-75-89-101
Net Cash Flow-7779221786-45068

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow561.00642.00673.00470.00282.00259.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days181720232524
Inventory Days9996117124114120
Days Payable140134143161129131
Cash Conversion Cycle-24-20-7-141013
Working Capital Days-8-7601418
ROCE %32%29%18%10%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs3.38%2.65%2.66%3.13%2.84%2.76%3.04%3.11%3.20%3.31%3.49%3.64%
DIIs11.01%11.29%11.29%11.42%11.91%12.54%12.50%12.44%12.35%12.47%12.93%12.63%
Public10.61%11.06%11.05%10.45%10.25%9.70%9.45%9.44%9.43%9.23%8.58%8.73%
No. of Shareholders83,1031,10,0771,12,1301,26,0601,40,1401,39,6241,25,5841,26,2191,26,3611,24,5071,14,2841,18,984

Shareholding Pattern Chart

No. of Shareholders

Whirlpool of India Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Emerging Equity Fund - Regular Plan43142031.49581.84
SBI Magnum Global Fund11848052.45159.79
Aditya Birla Sun Life Flexi Cap Fund8825750.61119.03
UTI Mid Cap Fund6441570.8686.87
SBI Magnum Midcap Fund5029250.4367.83
UTI MNC Fund4953142.4566.8
Kotak Small Cap Fund - Regular Plan4807910.4564.84
Aditya Birla Sun Life Frontline Equity Fund4564680.2461.56
DSP ELSS Tax Saver Fund4427480.4359.71
Franklin India Prima Fund4198250.5656.62

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)17.2644.6427.7338.6432.30
Diluted EPS (Rs.)17.2644.6427.7338.6432.30
Cash EPS (Rs.)32.2755.5437.4747.7340.86
Book Value[Excl.RevalReserv]/Share (Rs.)289.11275.93225.29202.06169.10
Book Value[Incl.RevalReserv]/Share (Rs.)289.11275.93225.29202.06169.10
Revenue From Operations / Share (Rs.)525.55488.42465.03472.33425.45
PBDIT / Share (Rs.)39.2337.7547.9763.2258.87
PBIT / Share (Rs.)24.6126.1336.7753.0250.09
PBT / Share (Rs.)23.4350.4635.5651.4649.38
Net Profit / Share (Rs.)17.6643.9226.2737.5432.08
NP After MI And SOA / Share (Rs.)17.2644.6427.7338.6432.30
PBDIT Margin (%)7.467.7210.3113.3813.83
PBIT Margin (%)4.685.347.9011.2211.77
PBT Margin (%)4.4510.337.6410.8911.60
Net Profit Margin (%)3.358.995.647.947.54
NP After MI And SOA Margin (%)3.289.145.968.187.59
Return on Networth / Equity (%)6.2216.8612.3019.1219.09
Return on Capital Employeed (%)7.688.4314.7824.0927.11
Return On Assets (%)3.679.956.9611.2411.03
Asset Turnover Ratio (%)1.151.191.261.491.56
Current Ratio (X)2.042.042.092.091.80
Quick Ratio (X)1.251.301.411.331.15
Inventory Turnover Ratio (X)2.742.642.663.113.50
Dividend Payout Ratio (NP) (%)28.9611.2018.0312.9412.38
Dividend Payout Ratio (CP) (%)15.688.8812.8410.249.74
Earning Retention Ratio (%)71.0488.8081.9787.0687.62
Cash Earning Retention Ratio (%)84.3291.1287.1689.7690.26
Interest Coverage Ratio (X)33.1530.1839.6740.4182.16
Interest Coverage Ratio (Post Tax) (X)15.9215.6622.7324.9945.78
Enterprise Value (Cr.)15129.3718477.0626226.9321649.0118250.52
EV / Net Operating Revenue (X)2.272.984.453.613.38
EV / EBITDA (X)30.4038.5843.1026.9924.44
MarketCap / Net Operating Revenue (X)2.503.224.793.833.58
Retention Ratios (%)71.0388.7981.9687.0587.61
Price / BV (X)4.735.949.908.959.00
Price / Net Operating Revenue (X)2.503.224.793.833.58
EarningsYield0.010.020.010.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 1631.38

The stock is undervalued by 13.13% compared to the current price ₹1442

Calculation basis:

  • Fair value = (P/E Ratio * (Return on Equity / 100) * Book Value) * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 16.17%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 3.83, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -7.00, which is a positive sign.
  4. The company has higher reserves (2,704.14 cr) compared to borrowings (49.00 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (5.29 cr) and profit (503.86 cr) over the years.

    Stock Analysis

    • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Whirlpool of India Ltd:
      1. Net Profit Margin: 3.35%
        • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
      2. ROCE: 7.68% (Industry Average ROCE: 12.92%)
        • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
      3. ROE%: 6.22% (Industry Average ROE: 9.43%)
        • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
      4. Interest Coverage Ratio (Post Tax): 15.92
        • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
      5. Quick Ratio: 1.25
        • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
      6. Stock P/E: 90.5 (Industry average Stock P/E: 84.42)
        • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
      7. Total Debt / Equity: N/A
        • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
      The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
      Stock Rating: ★★☆☆☆

    About the Company

    Whirlpool of India Ltd. is a Public Limited Listed company incorporated on 09/07/1960 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L29191PN1960PLC020063 and registration number is 020063. Currently Company is involved in the business activities of Manufacture of other domestic appliances. Company’s Total Operating Revenue is Rs. 5993.40 Cr. and Equity Capital is Rs. 126.87 Cr. for the Year ended 31/03/2022.
    INDUSTRYADDRESSCONTACT
    Consumer ElectronicsPlot No.A-4, MIDC, Ranjangaon, Pune District Maharashtra 412220compliance_officer@whirlpool.com
    http://www.whirlpoolindia.com
    Management
    NamePosition Held
    Mr. Arvind UppalChairman & Ind.Director
    Mr. Narasimhan EswarManaging Director
    Mr. Arumalla Hari Bhavanarayana ReddyExecutive Director
    Mr. Anil BereraNon Executive Director
    Mrs. Sonu Halan BhasinIndependent Director
    Mr. Rahul BhatnagarIndependent Director
    Mr. Pradeep Jyoti BanerjeeIndependent Director

    Whirlpool of India Ltd. Share Price Update

    Share PriceValue
    Today₹1,444.30
    Previous Day₹1,414.80

    FAQ

    What is the latest fair value of Whirlpool of India Ltd?

    The latest fair value of Whirlpool of India Ltd is 1631.38.

    What is the Market Cap of Whirlpool of India Ltd?

    The Market Cap of Whirlpool of India Ltd is 18,289 Cr..

    What is the current Stock Price of Whirlpool of India Ltd as on 19 April 2024?

    The current stock price of Whirlpool of India Ltd as on 19 April 2024 is 1,442.

    What is the High / Low of Whirlpool of India Ltd stocks in FY 2024?

    In FY 2024, the High / Low of Whirlpool of India Ltd stocks is ₹1,733/1,186.

    What is the Stock P/E of Whirlpool of India Ltd?

    The Stock P/E of Whirlpool of India Ltd is 90.5.

    What is the Book Value of Whirlpool of India Ltd?

    The Book Value of Whirlpool of India Ltd is 282.

    What is the Dividend Yield of Whirlpool of India Ltd?

    The Dividend Yield of Whirlpool of India Ltd is 0.35 %.

    What is the ROCE of Whirlpool of India Ltd?

    The ROCE of Whirlpool of India Ltd is 8.43 %.

    What is the ROE of Whirlpool of India Ltd?

    The ROE of Whirlpool of India Ltd is 6.37 %.

    What is the Face Value of Whirlpool of India Ltd?

    The Face Value of Whirlpool of India Ltd is 10.0.

    About the Author

    Author Avatar
    Getaka

    Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

    Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Whirlpool of India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE