Whirlpool's Q1 Shows Strong Revenue Growth But Profit Pressures Persist
Revenue jumped 11.4% year-on-year, but profit fell sharply as net margins compressed by 230 basis points.
Whirlpool of India's Q1 FY27 revenue grew to ₹2,582 crore, yet profit declined 34% YoY. Margins remain under pressure despite a strong sequential recovery.
Whirlpool of India delivered a quarter of contrasting fortunes. While revenue grew healthily, profit took a significant hit, highlighting ongoing margin pressures in the consumer durables sector. The company's top-line momentum is clear, but converting sales into bottom-line earnings remains a challenge.
The first quarter of FY27 saw revenue rise to ₹2,582.42 crore, an 11.4% increase compared to the same period last year. Sequentially, the growth was even stronger at 27.2%, bouncing back from a softer Q4. However, profit after tax fell sharply by 34% year-on-year to ₹89.16 crore, despite a solid 33.8% improvement over the previous quarter. This divergence between revenue and profit growth squeezed the net profit margin down to 3.5%, a 230 basis-point drop from the 5.8% margin seen in Q1 FY26.
The recent quarterly trajectory shows a clear recovery from a low point in Q3 FY26, but profitability remains well below last year's levels.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin (%)
| Metric | CurrentQ1 FY27 | PreviousQ4 FY26 | Same quarter LYQ1 FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | 2,582.42YoY +11% | 2,030.05 | 2,317.47 |
| Profit (₹ Cr) | 89.16YoY -34% | 66.62 | 135.07 |
| Net Profit Margin (%) | 3.5YoY -40% | 3.3 | 5.8 |
Key Points
- The company maintains a strong, debt-free balance sheet with a debt-to-equity ratio of 0.
- Trailing twelve-month (TTM) profit stands at ₹196.32 crore on revenue of ₹7,738.75 crore, resulting in a TTM net profit margin of 2.5%.
- The stock has faced significant headwinds, with a one-year return of -37.4% and a three-year CAGR of -17.2%, closing at ₹830.45 on the results date.
Despite the robust sales growth, Whirlpool's valuation at a P/E of 35.0 trades at a 33.7% discount to the industry average, reflecting market concerns over sustained profitability. The coming quarters will be crucial for the company to demonstrate it can defend its margins while maintaining its sales momentum.
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· WHIRLPOOL
(BSE)
ISIN: INE716A01013
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