WHIRLPOOL OF INDIA
 
  

 
 

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SHARETIPSINFO >> Research Reports >> Whirlpool Research report (07-10-2008)

 

FINANCIAL :

 

31-Mar-08

31-Mar-07

31-Mar-06

31-Mar-05

TOTAL INCOME

18084.4

14967.8

12741.9

10331.4

EXPENDITURE

-17212.7

-14333.4

-12596.2

-10632.3

OPERATING PROFIT

871.7

634.4

145.7

-300.9

DEPRECIATION

-373.5

-344.2

-365.5

-321.7

PBIT

498.2

290.2

-219.8

-622.6

INTEREST

-209.9

-163.4

-179.9

-249.7

PBT

288.3

126.8

-399.7

-872.3

TAX

-35.1

-3.2

152.4

-4.1

PAT

253.2

123.6

-247.3

-876.4

EPS

1.9957149

0.9742115

-1.949211

-6.907759

            RATIOS

31-Mar-08

31-Mar-07

31-Mar-06

31-Mar-05

NPM

1.40010175

0.8257727

-1.940841

-8.482877

OPM

4.82017651

4.2384318

1.1434715

-2.91248

INTEREST COVERAGE

2.3735112

1.7760098

-1.225195

-2.493392

 

RATIOS
CHANGE IN TOTAL SALES
CHANGE IN OPERATING PROFIT
CHANGE IN NET PROFIT

 

            

HOW THE TURNAROUND ORCHISTERATED:


Whirlpool India was caught unaware by the changing scenario in the cosumer durable market.The company which used to sell about 1million appliances to Indian homes lost its market share to Korean chaebols.By 2004 end Korean companies got hold of the market and became the leaders in the consumer durable market.
Arvind Uppal took over as managing director of the company during the crisis period.Now he heads Asia – pacific .It was under his stewardship that the company stood firm during the crisis and some bold decisions were taken to turn around the company.
In 2005 company launched ‘GENIUS’ the focus shifted to the core strenght-entry level, ’direct cool’ refrigerator that accounts for 70 % of the market.”This helped whirlpool tide over the crisis” says Shantanu Das Gupta Vice President marketing.
“Whirlpool kept its focus on innovation ,but not on big ticket ,technology.It is more to do with evolution-something that women,whirlpool target cosumers,unlike men,who tends to go in for revolution,gigabyte kind of changes that so marks the electronic and software space,” says Uppal.
Company roped in Hari nair as Director of Whirlpool Asia`s Global Consumer Design studio.It was his idea which led to the introduction of 180 litre refrigerator,in wider range of colours that offered a non refrigerated onion and potato rack under the fridge,a lipstick holder.He found that women storing lipstick in their refrigerators as they tend to melt in the heat.
After the success of refrigerator , the company has expanded into washing machine,launched air conditioners and microwave ovens.Now ,it is foraying into premium built appliances –imported from from Europe for modular kitchen.
Uppal has set target to double its turnover and achieve four times the profitability.

CONCLUSION:

Whirlpool is good turnaround story.There is signifiacant scope for price appreciation from current level.During these stock market meltdown price of the company has not fallen below Rs40.We feel company has strong fundamental.One can invest in the stock with view of medium to long term perspective.

 

Whirlpool Report Page 1

Whirlpool Report Page 2

Whirlpool Report Page 3

 

 


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