The shares of one of India’s leading manufacturers and marketers of major home appliances, came into focus in Friday’s trading session after SBI Mutual Fund sold 10 lakh shares.
Stock Performance
With a market capitalization of Rs 12,433.44 crore, Whirlpool of India Ltd fell 1 percent in Friday’s trading session to a low of Rs 974.25 per share compared to its previous closing price of Rs 987.75 per share. The stock retraced from its day’s high and was trading at Rs 980 which is 0.7 percent lower than the previous closing price.
What Happened
SBI Mutual Fund sold 10.5 lakh equity shares representing 0.8 percent of the paid-up share capital of Whirlpool of India. Prior to this sale, SBI Mutual Fund held 100 lakh shares or a ~7.95 percent stake. After the completion of the disposal, the fund now holds ~90 lakh shares, representing a 7.12 percent stake in the company.
Company Overview
Whirlpool of India Limited is engaged in the business of manufacturing and marketing a wide range of home appliances. These include washing machines, refrigerators, air conditioners, kitchen appliances, and both built-in and small appliances for domestic and international markets.
The company also offers product development and procurement services to Whirlpool Corporation in the United States and other group companies. Its brand portfolio includes Amana, Whirlpool, Consum, Maytag, Brastemp, and KitchenAid. Whirlpool of India owns and operates 3 manufacturing facilities in Faridabad, Pune, and Puducherry.
Financial Performance
In the latest quarter, Whirlpool of India Ltd reported a 11 percent YoY increase in its revenue from Rs 1,536 crore to Rs 1,705 crore. However, On a quarterly basis, there was a slight decrease from Rs 1,713 crore in Q2 FY25.
This was accompanied by an impressive 57 percent YoY increase in net profits from Rs 30 crore to Rs 45 crore. On a quarterly basis, the company saw a 17 percent decline in profits from Rs 54 crore in Q2 FY25.
Written by Shwetha Sairam
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