Whirlpool of India hits the floor after parent firm plans to cut 20% stake

Whirlpool of India hit the lower circuit of 20% at Rs 1262.15 after the company's parent, Whirlpool Corporation, announced its intention to sell 20% stake in the company by mid to late 2025 by way of one or more market sales.

Whirlpool Corporation, which currently holds 51% ownership interest in whirlpool India, expects to remain largest shareholder following the completion of stake sale.

As a part of its fourth quarter release, Whirlpool Corporation said that Whirlpool India will remain a relevant part of its portfolio, and continues to believe in the companys strong long-term growth trajectory. The stake sale is intended to provide whirlpool India with increased autonomy to adjust to ever-evolving industry conditions, enabling Whirlpool India to focus on accelerated growth and utilizing its well-funded business to invest further in the business. Sustained brand license and technology agreements, as well as transition commitments, will continue to support business operations and the long-term growth of Whirlpool as one of the most trusted brands in India. It believes these actions will deliver value to Whirlpool India's shareholders.

Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets.

The company reported 42.21% jump in consolidated net profit to Rs 52.02 crore on 12.58% rise in revenue from operations to Rs 1,712.99 crore in Q2 FY25 over Q2 FY24.

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