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Last Updated on: 05 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 500238 | NSE: WHIRLPOOL

Whirlpool of India Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 4, 2024, 9:10 pm

Market Cap 24,304 Cr.
Current Price 1,910
High / Low2,450/1,186
Stock P/E77.3
Book Value 298
Dividend Yield0.26 %
ROCE9.07 %
ROE6.36 %
Face Value 10.0
PEG Ratio-19.08

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Whirlpool of India Ltd

Competitors of Whirlpool of India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IKIO Lighting Ltd 2,090 Cr. 270364/24538.9 71.20.37 %21.7 %17.5 % 10.0
Elin Electronics Ltd 1,117 Cr. 225282/12966.2 1040.00 %5.08 %2.75 % 5.00
CWD Ltd 242 Cr. 6711,144/590132 91.40.00 %7.92 %4.56 % 10.0
Calcom Vision Ltd 163 Cr. 120184/104209 56.50.00 %6.38 %1.81 % 10.0
Whirlpool of India Ltd 24,304 Cr. 1,9102,450/1,18677.3 2980.26 %9.07 %6.36 % 10.0
Industry Average23,932.31 Cr2,011.3385.93124.910.20%16.35%14.07%6.31

All Competitor Stocks of Whirlpool of India Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales1,3411,6071,5421,7072,0811,6121,3021,6732,0391,5221,5361,7342,497
Expenses1,2851,4781,4591,5591,9491,5231,2581,5671,9151,4481,4731,5902,286
Operating Profit551298314813289441061237363144211
OPM %4%8%5%9%6%6%3%6%6%5%4%8%8%
Other Income163511813322241323534364151
Interest46253346769910
Depreciation33333844474245525249476256
Profit before tax3544261113114673680995242114196
Tax %27%6%28%25%26%27%26%20%22%27%29%30%26%
Net Profit2641344848549276477383079145
EPS in Rs2.0132.573.466.616.603.781.954.945.902.882.216.1211.34

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales4,8325,3985,9935,9006,1976,6686,8307,288
Expenses4,2714,7555,3195,3795,7816,2976,4276,798
Operating Profit561642673521416371403491
OPM %12%12%11%9%7%6%6%7%
Other Income86107143106398127145161
Interest49201516153033
Depreciation102111129142147185210214
Profit before tax541629667470650297307405
Tax %35%35%26%25%13%25%27%
Net Profit351410490352567224224293
EPS in Rs27.6432.3038.6427.7344.6417.2617.1122.55
Dividend Payout %14%15%13%18%11%29%29%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)16.81%19.51%-28.16%61.08%-60.49%0.00%
Change in YoY Net Profit Growth (%)0.00%2.70%-47.68%89.24%-121.57%60.49%

Whirlpool of India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2018-2019 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:%
5 Years:5%
3 Years:5%
TTM:14%
Compounded Profit Growth
10 Years:%
5 Years:-11%
3 Years:-13%
TTM:58%
Stock Price CAGR
10 Years:12%
5 Years:-4%
3 Years:-1%
1 Year:43%
Return on Equity
10 Years:%
5 Years:10%
3 Years:7%
Last Year:6%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:33 pm

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital127127127127127127127127
Reserves1,6692,0192,4372,7313,2313,3933,5623,656
Borrowings-0-0-05113411223152
Other Liabilities1,4291,5661,8372,1392,1422,2682,1652,285
Total Liabilities3,2263,7124,4005,0485,6345,9006,0846,120
Fixed Assets4465087097071,8031,9171,9321,892
CWIP3343444176202117
Investments456659567207-0-0-0-0
Other Assets2,2912,5013,0804,0933,7543,9634,1314,212
Total Assets3,2263,7124,4005,0485,6345,9006,0846,120

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +38440238052498270610
Cash from Investing Activity +-415-262-72338-459-10162
Cash from Financing Activity +-46-62-87-75-89-101-117
Net Cash Flow-7779221786-45068555

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow561.00642.00673.00470.00282.00259.00172.00

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 2023Mar 2024
Debtor Days18172023252418
Inventory Days999611712411412099
Days Payable140134143161129131114
Cash Conversion Cycle-24-20-7-1410133
Working Capital Days-8-76014184
ROCE %32%29%18%10%8%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%51.00%51.00%
FIIs2.66%3.13%2.84%2.76%3.04%3.11%3.20%3.31%3.49%3.64%6.47%8.93%
DIIs11.29%11.42%11.91%12.54%12.50%12.44%12.35%12.47%12.93%12.63%33.68%31.30%
Public11.05%10.45%10.25%9.70%9.45%9.44%9.43%9.23%8.58%8.73%8.84%8.77%
No. of Shareholders1,12,1301,26,0601,40,1401,39,6241,25,5841,26,2191,26,3611,24,5071,14,2841,18,9841,23,1481,04,436

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Emerging Equity Fund - Regular Plan4,314,2031.49581.84495,3142024-12-01771%
SBI Magnum Global Fund1,184,8052.45159.79495,3142024-12-01139.2%
Aditya Birla Sun Life Flexi Cap Fund882,5750.61119.03495,3142024-12-0178.18%
UTI Mid Cap Fund644,1570.8686.87495,3142024-12-0130.05%
SBI Magnum Midcap Fund502,9250.4367.83495,3142024-12-011.54%
UTI MNC Fund495,3142.4566.8495,3142024-12-010%
Kotak Small Cap Fund - Regular Plan480,7910.4564.84495,3142024-12-01-2.93%
Aditya Birla Sun Life Frontline Equity Fund456,4680.2461.56495,3142024-12-01-7.84%
DSP ELSS Tax Saver Fund442,7480.4359.71495,3142024-12-01-10.61%
Franklin India Prima Fund419,8250.5656.62495,3142024-12-01-15.24%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)17.1117.2644.6427.7338.64
Diluted EPS (Rs.)17.1117.2644.6427.7338.64
Cash EPS (Rs.)34.2632.2755.5437.4747.73
Book Value[Excl.RevalReserv]/Share (Rs.)302.95289.11275.93225.29202.06
Book Value[Incl.RevalReserv]/Share (Rs.)302.95289.11275.93225.29202.06
Revenue From Operations / Share (Rs.)538.33525.55488.42465.03472.33
PBDIT / Share (Rs.)44.6739.2337.7547.9763.22
PBIT / Share (Rs.)28.1024.6126.1336.7753.02
PBT / Share (Rs.)24.2223.4350.4635.5651.46
Net Profit / Share (Rs.)17.6817.6643.9226.2737.54
NP After MI And SOA / Share (Rs.)17.1117.2644.6427.7338.64
PBDIT Margin (%)8.297.467.7210.3113.38
PBIT Margin (%)5.214.685.347.9011.22
PBT Margin (%)4.494.4510.337.6410.89
Net Profit Margin (%)3.283.358.995.647.94
NP After MI And SOA Margin (%)3.173.289.145.968.18
Return on Networth / Equity (%)5.886.2216.8612.3019.12
Return on Capital Employeed (%)8.157.688.4314.7824.09
Return On Assets (%)3.533.679.956.9611.24
Asset Turnover Ratio (%)1.131.151.191.261.49
Current Ratio (X)2.282.042.042.092.09
Quick Ratio (X)1.571.251.301.411.33
Inventory Turnover Ratio (X)2.822.742.642.663.11
Dividend Payout Ratio (NP) (%)29.2228.9611.2018.0312.94
Dividend Payout Ratio (CP) (%)14.8415.688.8812.8410.24
Earning Retention Ratio (%)70.7871.0488.8081.9787.06
Cash Earning Retention Ratio (%)85.1684.3291.1287.1689.76
Interest Coverage Ratio (X)18.7533.1530.1839.6740.41
Interest Coverage Ratio (Post Tax) (X)9.0515.9215.6622.7324.99
Enterprise Value (Cr.)13336.5215129.3718477.0626226.9321649.01
EV / Net Operating Revenue (X)1.952.272.984.453.61
EV / EBITDA (X)23.5330.4038.5843.1026.99
MarketCap / Net Operating Revenue (X)2.262.503.224.793.83
Retention Ratios (%)70.7771.0388.7981.9687.05
Price / BV (X)4.184.735.949.908.95
Price / Net Operating Revenue (X)2.262.503.224.793.83
EarningsYield0.010.010.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Whirlpool of India Ltd as of December 5, 2024 is: 1,468.86

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.

As of December 5, 2024, Whirlpool of India Ltd is Overvalued by 23.10% compared to the current share price 1,910.00

Intrinsic Value of Whirlpool of India Ltd as of December 5, 2024 is: 1,409.35

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • 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.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 5, 2024, Whirlpool of India Ltd is Overvalued by 26.21% compared to the current share price 1,910.00

Last 5 Year EPS CAGR: -4.05%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.14%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 3.86, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -5.57, which is a positive sign.
  4. The company has higher reserves (2,837.25 cr) compared to borrowings (72.50 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (5.50 cr) and profit (495.75 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: 3.28%
        • 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: 8.15% (Industry Average ROCE: 16.35%)
        • 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%: 5.88% (Industry Average ROE: 14.07%)
        • 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): 9.05
        • 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: 1.57
        • 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: 77.3 (Industry average Stock P/E: 85.93)
        • 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: 0
        • 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 - Qualitative Analysis

    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
    Ms. Harita GuptaIndependent Director
    Mr. Rahul BhatnagarIndependent Director
    Mr. Pradeep Jyoti BanerjeeIndependent Director

    FAQ

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

    The latest intrinsic value of Whirlpool of India Ltd as on 04 December 2024 is ₹1468.86, which is 23.10% lower than the current market price of ₹1,910.00. The stock has a market capitalization of 24,304 Cr. and recorded a high/low of ₹2,450/1,186 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹3,656 Cr and total liabilities of ₹6,120 Cr.

    What is the Market Cap of Whirlpool of India Ltd?

    The Market Cap of Whirlpool of India Ltd is 24,304 Cr..

    What is the current Stock Price of Whirlpool of India Ltd as on 04 December 2024?

    The current stock price of Whirlpool of India Ltd as on 04 December 2024 is 1,910.

    What is the High / Low of Whirlpool of India Ltd stocks in FY 2024-2025?

    In FY 2024-2025, the High / Low of Whirlpool of India Ltd stocks is 2,450/1,186.

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

    The Stock P/E of Whirlpool of India Ltd is 77.3.

    What is the Book Value of Whirlpool of India Ltd?

    The Book Value of Whirlpool of India Ltd is 298.

    What is the Dividend Yield of Whirlpool of India Ltd?

    The Dividend Yield of Whirlpool of India Ltd is 0.26 %.

    What is the ROCE of Whirlpool of India Ltd?

    The ROCE of Whirlpool of India Ltd is 9.07 %.

    What is the ROE of Whirlpool of India Ltd?

    The ROE of Whirlpool of India Ltd is 6.36 %.

    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