Whirlpool of India earnings calls.

Whirlpool India delivered a strong Q3 FY25 with 12% standalone revenue growthCurrent reported value: 12% standalone revenue growth. No comparable prior figure is available in the source record. driven by triple-digit volume market share gains across refrigerators and washing machines—sustained for three consecutive quarters. The company achieved 65% PBT growthCurrent reported value: 65% PBT growth. No comparable prior figure is available in the source record. YoY on standalone basis, with gross margins expanding 220+ basis pointsCurrent reported value: 220+ basis points. No comparable prior figure is available in the source record. year-over-year for the April-December period. Management emphasized the turnaround narrative: 15 months of continuous revenue growth and 100% PBT growth for 9M FY25. However, analysts raised concerns about staff cost efficiency versus peersCurrent staff cost efficiency versus peers. Reported change: +3 consecutive quarters. (6.5-8% of revenue typical for durables) and the timeline to reach high single-digit EBITDA marginsCurrent high single-digit EBITDA margins. Reported change: +3 consecutive quarters.—currently around 3.5% adjusted—given ongoing investments in retail execution. The parent company's announced sell-down from 51% to 20% ownership dominated Q&A, with analysts questioning management autonomy, royalty fee trajectory, and long-term commitment. Key risks include potential royalty increases, competitive retaliation post-factory strike resolution, and execution distraction from ownership transition.