Whirlpool of India | Business Upturn

Whirlpool of India addresses concerns over Anil Berera’s re-designation as independent director

Business Desk — Tue, 24 Mar 2026 06:19:22 +0000

Whirlpool of India Limited has issued clarifications in response to recommendations made by proxy advisory firms regarding the re-designation of Mr. Anil Berera as a Non-Executive Independent Director. The company addressed concerns raised by Institutional Investor Advisory Services India Limited (IiAS) and Stakeholders Empowerment Services (SES) about the governance implications of the proposed resolution.

Mr. Anil Berera has been associated with Whirlpool of India since November 2011, having served as an Executive Director until December 2019. Post his executive role, he was re-designated as a Non-Executive Non-Independent Director from January 2020. Whirlpool highlighted Mr. Berera’s extensive experience within the Whirlpool group, including roles as Chief Financial Officer and Vice President (Asia) of Whirlpool Corporation.

Whirlpool emphasised that the re-designation of Mr. Berera complies with all statutory and regulatory provisions under the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company clarified that the concerns raised by IiAS stem from internal governance criteria rather than legal or regulatory restrictions.

The company also addressed the assumption of a mandatory cooling-off period before appointing a director as independent. Whirlpool stated that Mr. Berera ceased his executive role in December 2019 and has not held any key managerial position since then, making him eligible for the independent role under the current statutory framework.

Furthermore, Whirlpool clarified that Mr. Berera’s appointment as an Independent Director is his first, and the tenure limits prescribed by the Act apply only upon his appointment as an Independent Director. Thus, the tenure limits would commence from the effective date of his proposed appointment, 1 March 2026.

The company assured that its board composition complies with Regulation 17(1) of the SEBI Listing Regulations, with five Independent Directors currently serving, exceeding the minimum requirement. Whirlpool’s Nomination and Remuneration Committee has endorsed Mr. Berera’s appointment, recognising his expertise in financial management and corporate governance.

Whirlpool of India has requested the proxy advisory firms to reconsider their recommendations in light of these clarifications and the compliance of Mr. Berera’s appointment with applicable legal frameworks.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Whirlpool of India unveils ESOP 2026 for 2% of paid-up capital

Yash Agarwal — Mon, 23 Mar 2026 04:33:00 +0000

Whirlpool of India has announced the introduction of its Employee Stock Option Plan 2026 (ESOP 2026), which aims to grant options up to 2% of the company’s paid-up capital as of 31st March 2025. The plan was approved during a board meeting held on 23rd March 2026.

The ESOP 2026 is designed in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The plan will be implemented in one or more tranches, subject to the approval of the company’s members.

The company plans to seek approval for the ESOP 2026 through a postal ballot, adhering to the Companies Act, 2013, along with the relevant rules and regulations. The exercise price for the options will not be less than the face value of the shares and will not exceed the fair market value on the grant date.

The ESOP 2026 will be administered through an employees’ welfare trust, known as the ESOP Trust. This trust will handle the acquisition of shares and distribute them to eligible employees upon completion of the vesting period and exercise of the options.

The nomination and remuneration committee (NRC) will oversee the administration of the ESOP 2026, including setting the terms and conditions under which the options can be exercised. Eligible employees will have a maximum of one year from the vesting date to exercise their options.

The board meeting where this decision was made commenced at 09:20 AM and concluded at 09:32 AM on the same day.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Whirlpool of India acquires full ownership of Elica India with 3.18% share purchase

Business Desk — Tue, 10 Mar 2026 14:16:07 +0000

Whirlpool of India has completed the acquisition of an additional 3.18% equity stake in Elica PB Whirlpool Kitchen Appliances Private Limited, also known as Elica India. This purchase increases Whirlpool’s total shareholding in Elica India to 100%, giving it full ownership of the company.

This latest acquisition follows a previous intimation made by Whirlpool on 6 February 2026, regarding its intent to acquire additional shares in Elica India. The completion of this transaction marks a significant step for Whirlpool in consolidating its presence in the kitchen appliances sector in India.

Whirlpool of India is a leading manufacturer and marketer of home appliances in the country, and this acquisition is expected to enhance its product offerings and market reach.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Q1 Results Today, July 26: Kotak Mahindra Bank, IDFC First Bank, Whirlpool of India, ZEN Technologies and more to announce earnings

Aman Shukla — Sat, 26 Jul 2025 04:05:15 +0000

At least 37 companies are set to announce their Q1 FY26 earnings today, Saturday, July 26, 2025. Among the key names to watch are Kotak Mahindra Bank, IDFC First Bank, Whirlpool of India, and ZEN Technologies — all expected to provide market-moving updates.

These quarterly financial results come at a crucial time for the Indian markets, with investors keeping a close eye on performance across banking, consumer durables, and tech-focused sectors.

Apart from the major players, several mid-cap and small-cap firms are also scheduled to release their Q1 earnings, which include Balkrishna Industries, Affle 3I, Rainbow Children’s Medicare, and Jain Irrigation Systems.

Here is the complete list of companies declaring their results today, July 26:

3P Land Holdings Ltd
Adarsh Plant Protect Ltd
Affle 3I Ltd
Archidply Industries Ltd
AYM Syntex Ltd
Balkrishna Industries Ltd
Chembond Chemicals Ltd
Chambal Breweries & Distilleries Ltd
CIL Securities Ltd
Coral Newsprints Ltd
Creative Castings Ltd
Dolphin Medical Services Ltd
Gagan Gases Ltd
Howard Hotels Ltd
IDFC First Bank Ltd
Jagsonpal Pharmaceuticals Ltd
Jayant Agro Organics Ltd
Jain Irrigation Systems Ltd_DVR
Jain Irrigation Systems Ltd
Kotak Mahindra Bank Ltd
Lodha Developers Ltd
Medinova Diagnostic Services Ltd
Moneyboxx Finance Ltd
Premier Energies Ltd
Rainbow Children’s Medicare Ltd
Ras Resorts & Apart Hotels Ltd
Regency Fincorp Ltd
Relic Technologies Ltd
Rishab Special Yarns Ltd
SBFC Finance Ltd
SKP Securities Ltd
SMC Global Securities Ltd
Stratmont Industries Ltd
TCC Concept Ltd
Vandan Foods Ltd
Whirlpool of India Ltd
ZEN Technologies Ltd

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

Whirlpool of India shares drop 40% in past one month; Check details

Aman Shukla — Sat, 15 Feb 2025 06:45:05 +0000

Whirlpool of India, a leading home appliance manufacturer, has seen a significant decline in its share price over the past month. The stock has plummeted by nearly 40%, raising concerns among investors.

As of February 14, 2025, Whirlpool of India shares closed at ₹1,002.50, marking a sharp decline from its 52-week high of ₹2,449.70. The stock opened at ₹1,034.45 on the same day, reaching a high of ₹1,034.45 and a low of ₹987.05.

30-Day Share Price Trend

Here’s a detailed look at the share price movement ( as per Investing) over the last 30 days:

Date	Price	Open	High	Low	Change %
Feb 14, 2025	1,002.40	1,034.45	1,034.45	987.05	-1.98%
Feb 13, 2025	1,022.65	999.05	1,048.65	997.00	+2.28%
Feb 12, 2025	999.85	1,034.45	1,034.45	995.70	-3.35%
Feb 11, 2025	1,034.50	1,064.20	1,068.85	1,027.00	-2.72%
Feb 10, 2025	1,063.40	1,108.35	1,121.95	1,055.10	-4.05%
Feb 07, 2025	1,108.30	1,108.40	1,118.00	1,084.85	+0.44%
Feb 06, 2025	1,103.45	1,136.30	1,136.30	1,100.00	-2.30%
Feb 05, 2025	1,129.45	1,165.00	1,166.70	1,110.00	-1.78%
Feb 04, 2025	1,149.95	1,190.15	1,219.70	1,145.00	-2.67%
Feb 03, 2025	1,181.50	1,170.00	1,224.00	1,121.15	+0.44%
Feb 01, 2025	1,176.35	1,174.00	1,212.40	1,143.15	+3.21%
Jan 31, 2025	1,139.80	1,075.00	1,217.00	1,075.00	-9.60%
Jan 30, 2025	1,260.80	1,260.80	1,260.80	1,260.80	-20.00%
Jan 29, 2025	1,575.95	1,577.25	1,611.70	1,566.65	-0.08%
Jan 28, 2025	1,577.25	1,599.00	1,606.85	1,536.65	-1.90%
Jan 27, 2025	1,607.85	1,603.20	1,612.85	1,550.50	-0.81%
Jan 24, 2025	1,621.00	1,609.95	1,648.70	1,600.95	+0.82%
Jan 23, 2025	1,607.75	1,567.00	1,629.90	1,557.05	+2.17%
Jan 22, 2025	1,573.55	1,605.10	1,609.00	1,566.60	-1.90%
Jan 21, 2025	1,604.00	1,654.45	1,663.15	1,589.00	-3.05%
Jan 20, 2025	1,654.45	1,683.80	1,691.05	1,645.35	-1.74%
Jan 17, 2025	1,683.80	1,674.60	1,715.00	1,654.15	+0.29%
Jan 16, 2025	1,678.95	1,684.25	1,730.00	1,666.20	-0.31%
Jan 15, 2025	1,684.25	1,687.00	1,719.95	1,665.10	+0.03%

Whirlpool of India Q3 results

Whirlpool of India reported a strong financial performance for the Q3, with a 57.1% jump in net profit to ₹44 crore, compared to ₹28 crore in the same period last year. The company’s revenue grew by 11%, reaching ₹1,705 crore, up from ₹1,536 crore in the previous year.

The EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) also saw a healthy rise of 10.3%, climbing to ₹69.2 crore from ₹62.7 crore. Despite this growth, EBITDA margins remained stable at 4.1%.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Whirlpool of India shares surge over 2% as company announces partnership with PG Electroplast for contract manufacturing

Aditya Bhagchandani — Tue, 24 Dec 2024 03:59:52 +0000

Shares of Whirlpool of India Limited rose by 2.25% to ₹1,892.95 as of 9:27 am on December 24, reflecting investor optimism following the announcement of a strategic agreement with PG Electroplast Limited (PGEL). This partnership will involve contract manufacturing of select Whirlpool-branded semi-automatic washing machines at PGEL’s Roorkee facility, further extending their existing relationship, under which PGEL also supplies air conditioners to Whirlpool.

Key details of the partnership:

Local Manufacturing Boost: This initiative aligns with the government’s ‘Make in India’ drive, emphasizing local production and affordability.
Scope for Future Growth: The companies are exploring deeper collaboration opportunities to strengthen their relationship further.

Management’s perspective:

Narasimhan Eswar, MD of Whirlpool India, highlighted the integration of Whirlpool’s cutting-edge design with PGEL’s robust manufacturing capabilities to offer affordable and high-quality appliances.
Vikas Gupta, MD (Operations) of PG Electroplast, expressed enthusiasm for the partnership, aiming to deliver exceptional value to Indian consumers.

Stock Performance:

1-day performance: Shares gained 2.25%, trading at ₹1,892.95.
1-month performance: The stock has risen by 9.58%.
Year-to-date gain: 37.84%.

About the companies:

Whirlpool of India: A leading home appliance manufacturer with operations in Faridabad, Puducherry, and Pune.
PG Electroplast: A key EMS and contract manufacturing player specializing in plastic injection molding and OEM/ODM solutions.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Whirlpool of India shares decline nearly 5% following Q2 results

Aditya Bhagchandani — Mon, 11 Nov 2024 04:16:18 +0000

Shares of Whirlpool of India Ltd. fell by 4.44% to ₹1,971.25 on the NSE as of 9:44 am on November 8, following the release of its Q2 FY25 results. The company reported a 25.4% year-on-year (YoY) decrease in net profit to ₹287 crore for the quarter ending September 30, 2024, down from ₹384.7 crore in the same quarter last year.

Key Financial Highlights for Q2 FY25:

Revenue from Operations: ₹1,582 crore, up 13% YoY from ₹1,400 crore in Q2 FY24.
EBITDA: Increased by 31% to ₹68.4 crore, compared to ₹52.2 crore in the previous year.
EBITDA Margin: Stood at 4.3%, up from 3.7% in Q2 FY24.

The company also announced an expansion of its refrigerator manufacturing capacity at its Pune facility, currently producing 54 lakh units annually at 63% utilization. Whirlpool plans to add 3 lakh units of capacity per year, with the expansion expected to be completed by July 2026 at a cost of ₹270 crore, funded through internal accruals. This move is aimed at meeting future demand in the refrigerator segment.

Whirlpool India shares decline over 3% amid large block deal worth Rs 4,039 crore

Markets Desk — Tue, 20 Feb 2024 04:25:22 +0000

Shares of Whirlpool India slip over 3% in trade on the back of a large block deal of 24.9% equity or 3.2 crore shares worth Rs 4,039 crore took place in the morning trade. Reports suggested that parent company (Whirlpool Mauritius) was expected to sell nearly 24% equity via the block deal today. This comes in 2 months after the management of the company had indicated about their plans to offload the stake to reduce debt further.

To be precise, on November 30, 2023, Whirlpool Corp said it would sell up to 24% of its ownership interest in Whirlpool of India to reduce debt levels. Whirlpool Corp said that the parent intends to retain a majority interest in Whirlpool of India following the completion of the planned stake sale. “The company expects to use transaction proceeds to reduce debt levels, which will enhance balance sheet flexibility. Proceeds expected to be used for debt repayment are incremental to the $500 million term loan repayment that the company previously disclosed it expects to pay in the fourth quarter of 2023,” the company disclosed.

Whirlpool India shares today made an intraday low of Rs 1,268 against its previous close of Rs 1,331 on the NSE. As of 9:50 AM, shares of Whirlpool India were down 3.09% at Rs 1,290 on the NSE.

Whirlpool India holds 87% stake in Elica PB with a recent investment of $57 million

Cheryll Jain — Tue, 28 Sep 2021 08:33:05 +0000

Consumer durables maker Whirlpool India Limited announced that it has entered into a share purchase agreement with Elica S.p.A, an Italian manufacturing company, to acquire an additional 38 per cent stake in its Indian venture Elica PB India for $57 million. Prior to this, Whirlpool of India had acquired a 49% equity interest in Elica PB India in 2018.

The transaction which is set to conclude by the end of September will bring Whirlpool’s total equity ownership in Elica PB India to 87 per cent. After the completion of the deal, Elica PB India will become a majority-owned subsidiary of Whirlpool India, a statement released by Whirlpool of India said.

Expressing his delight over the new development, the Managing Director of Whirlpool of India Vishal Bhola said, “We are very excited about this transaction and it is aligned with our ambition to accelerate profitable growth in India.”

“Cooking and built-in appliances are under-penetrated categories and the demand has now accelerated with consumers picking up cooking as a passion and investing more in their kitchens,” he further noted on acquiring Elica PB India, which manufactures kitchen equipment and appliances.

“Our consumers have always been at the heart of our business and now with both Elica and Whirlpool brands, we are in an even better position to improve life at home for them,” Bhola said. Whirlpool of India is targeting to use this newfound opportunity to advance further into the kitchen appliance market in the country.

The regulatory statement, which was submitted to the exchanges also noted Elica PB India’s stance on the acquisition. “Over the last decade, Elica PB India has built a very strong product portfolio and distribution network in India, which it has been harnessing for the last three years to build both the Elica and Whirlpool brands in the cooking category,” Pralhad Bhutada, chief executive officer and director of Elica PB India said, asserting that this acquisition will be beneficial for both the companies moving ahead.