BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Whirlpool of India Ltd.’s standalone revenue declined 9.5% YoY as the industry has been facing significant demand headwinds leading to a volume decline.
Whirlpool of India revenue has declined despite price increases of 10‐12% indicating even higher decline in volumes.
Entry level products saw higher impact as volumes in that segment have declined significantly more than the premium products in refrigerators; similar case with washing machines with semi‐automatic volumes declining more than fully automatic.
Our channel checks suggest the company has lost some market share in FY22. On the margin front, Whirlpool of India continues to see gross margin erosion of 442 basis points in FY22 as it is not able to pass on increased commodity prices in the current environment.
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