Whirlpool of India (500238) Q1 26/27 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 2,582 crores (₹258,242 lakhs), up 11.4% year-over-year, driven by market share gains and premium product growth.

• Maintained #2 position in refrigerators and washers in multi-brand outlets, and #1 in Direct Cool refrigerators for seven consecutive months, with significant share gains in front load washers and air conditioners.

• Elica subsidiary delivered strong performance with 26% revenue growth and 22% profit growth.

• Margins were pressured by war-related costs, regulatory changes, and cost inflation, but working capital improved significantly.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, with no material misstatements identified by auditors.

Financial highlights

• Standalone revenue grew 11.4% year-over-year to INR 2,582 crores (₹258,242 lakhs); consolidated revenue reached INR 2,727 crores (₹272,675 lakhs), up 12.1% year-over-year.

• Standalone EBITDA margin declined to 4.6% (₹120 Cr), and PBT margin to 4.6% (₹120 Cr); consolidated EBITDA margin at 5.1% (₹139 Cr), and PBT margin at 5.1% (₹139 Cr).

• Gross margin declined from 30.6% to 27.5% year-over-year; PBT margin fell from 7.8% to 4.6%.

• Standalone net profit for Q1 FY27 was ₹8,916 lakhs; consolidated net profit was ₹10,288 lakhs.

• Basic and diluted EPS for Q1 FY27 stood at ₹7.03 (standalone) and ₹8.11 (consolidated).

Outlook and guidance

• Management expects continued revenue growth and market share gains but highlights significant uncertainty due to external factors, including war-related cost pressures and regulatory impacts.

• Margin recovery depends on resolution of war-related cost pressures, regulatory impacts, and e-waste cost normalization.

• The company continues to monitor regulatory changes, particularly regarding new Labour Codes, and will account for any resulting impact as rules are finalized.

• Next quarter expected to remain challenging due to seasonality and persistent high input costs.

• Strategic imperatives include brand inspiration, product leadership, and execution excellence.