You are here » Home » Companies » Company Overview » Whirlpool of India Ltd

Whirlpool of India Ltd.

BSE: 500238 Sector: Consumer
NSE: WHIRLPOOL ISIN Code: INE716A01013
BSE 11:04 | 24 Jun 2196.65 9.55
(0.44%)
OPEN

2193.00

HIGH

2200.40

LOW

2185.00

NSE 10:54 | 24 Jun 2195.00 7.20
(0.33%)
OPEN

2207.85

HIGH

2207.85

LOW

2185.00

OPEN 2193.00
PREVIOUS CLOSE 2187.10
VOLUME 1207
52-Week high 2777.00
52-Week low 1983.20
P/E 83.62
Mkt Cap.(Rs cr) 27,869
Buy Price 2194.50
Buy Qty 1.00
Sell Price 2195.95
Sell Qty 19.00
OPEN 2193.00
CLOSE 2187.10
VOLUME 1207
52-Week high 2777.00
52-Week low 1983.20
P/E 83.62
Mkt Cap.(Rs cr) 27,869
Buy Price 2194.50
Buy Qty 1.00
Sell Price 2195.95
Sell Qty 19.00

Whirlpool of India Ltd. (WHIRLPOOL) - Director Report

Company director report

Your Directors have pleasure in presenting the 59th Annual Report on thebusiness and operations of the Company together with the audited accounts for thefinancial year ended 31st March 2020.

Financial Results

(INR in lacs)
Particulars

Standalone For the year ended

Consolidated For the year ended

31st March 31st March 31st March 31st March
2020 2019 2020 2019
Revenue from Operations 599252 539765 599252 539765
Other Income 12871 10470 12871 10470
Profit/loss before Depreciation Finance Costs Exceptional items and 80206 74687 80206 74687
Tax Expense
Less: Depreciation/ Amortization/ Impairment 12932 11131 12932 11131
Profit /loss before Finance Costs Exceptional items and Tax Expense 67274 63556 67274 63556
Less: Finance Costs 1985 909 1985 909
Profit /loss before Exceptional items and Tax Expense 65289 62647 65289 62647
Add/(less): Exceptional items - - - -
Profit before share of profit of Joint Venture and tax 65289 62647 65289 62647
Share of profit/(loss) of a Joint Venture - - 1390 269
Profit before tax 65289 62647 66679 62916
Less: Tax Expense (Current & Deferred) 17660 21942 17660 21942
Profit /loss for the year (1) 47629 40705 49019 40974
Total Comprehensive Income/loss (2) (237) (518) (238) (516)
Total (1+2) 47392 40187 48781 40458
Balance of profit /loss for earlier years 180242 146174 180513 146174
Less: Transfer to Debenture Redemption Reserve - - - -
Less: Transfer to Reserves - - - -
Less: Dividend paid on Equity Shares 6344 5076 6344 5076
Less: Dividend paid on Preference Shares - - - -
Less: Dividend Distribution Tax 1304 1043 1304 1043
Balance carried forward 219986 180242 221646 180513

Performance of the Company

The year 2019-20 was another year of improved operating performance & financialgrowth. The Company had a strong revenue growth driven by both internal and externalfactors. Strong macroeconomic indicators drove the overall durable industry growth. Inaddition our continuous focus on product leadership channel expansion and salesexecution helped us grow ahead of industry. The Company's performance has been veryencouraging with 11.02% increase in Revenue from operations and 4.2% increase in Profitbefore Tax vs. previous year. The Company significantly scaled up its investment in fixedassets. Cost management continued to be a high focus area for the Company.

Key Financial Ratios

Particular 31 March 2020 31 March 2019
Debtor Turnover ratio 22.3 21.8
Inventory Turnover ratio 3.5 4.0
Interest coverage ratio - -
Current Ratio 2.09 1.80
Debt Equity Ratio - -
Operating Profit margin 9.08 9.84
Net Profit Margin 7.95 7.54
Return on Net Worth 18.70 19.00

No significant changes were reported in the above key financial ratios from previousyear.

Dividend & Transfer to Reserves

Your Directors at its meeting held on 18th June 2020 as per the DividendDistribution Policy of the Company recommend the payment of a final dividend at the rateof INR 5 per share for the year ended 31st March 2020 (previous year INR 5/-per equity share) on 126871830 equity shares of INR 10/- each. During the financialyear there was no amount proposed to be transferred to the Reserves.

In view of the changes made under the Income-tax Act 1961 by the Finance Act 2020dividends paid or distributed by the Company shall be taxable in the hands of theShareholders and accordingly payment will be made after deduction of tax at source. Thedividend recommended is in line with the Company's Dividend Distribution Policy. TheDividend Distribution Policy of the Company is disclosed in the Corporate GovernanceReport and is also available at the website of the Company at https://www.whirlpoolindia.com/dam/images/discover-whirlpool/investors/dividend-distribution-policy-pdf/Dividend%20Distribution%20Policy.pdf.

Share Capital

The paid up capital of the Company as on 31st March 2020 was INR 12687.18lacs. During the year under review the Company did not issue any class or category ofshares employee stock options convertible securities and consequently there is no changein the capital structure since previous year.

Subsidiaries Joint Ventures or Associate Companies

The Company does not have any subsidiary during the period of reporting.

Joint Venture/Associate Company

During the year the Company held 49% shareholding of Elica PB India Private Limited(Elica India) consisting of 2368997 equity shares of INR 10 each. Elica India is in thebusiness of manufacturing and selling kitchen equipment such as kitchen hoods hobs builtin ovens refrigerators built in microwave ovens dishwashers barbecue fryers kitchensinks and waste disposers. The investment is aligned with the Company's strategy ofexpanding cooking and built-in business.

Business Performance of Joint Venture - Elica PB India Private Limited

The year 2019-20 was another year of improved operating performance & financialgrowth. The revenue from operations during the financial year 2019-20 increased by 15.6%over previous year.

Capacity Enhancement

During the year under review the Company enhanced its Refrigerator manufacturingcapacity at Pune plant by adding a new line and also increased the Refrigeratormanufacturing capacity at Faridabad plant. The said expansion will help the Company tomaintain and strengthen its product portfolio.