Below is a structured extraction and summary of the relevant and actionable financial information from the Whirlpool of India Limited results filing dated November 4, 2025:
1. Auditor’s Note
- Standalone and Consolidated Financial Results for the quarter and six months ended September 30, 2025, have been reviewed by S.R. Batliboi & Co. LLP.
- The review was conducted under applicable Indian auditing standards (SRE 2410).
- No qualifications, concerns, or issues were raised by the auditors.
- The auditor’s reports conclude that the financial statements comply with Indian Accounting Standards (Ind AS) and SEBI Listing Regulations.
- Conclusion: Clean review reports with no material misstatements or qualifications.
2. Financial Performance
Periods Covered:
- Latest quarter: Q2 FY26 (July-Sept 2025) — ended 30 Sept 2025
- Immediately preceding quarter: Q1 FY26 (Apr-June 2025) — ended 30 June 2025
- Same quarter previous year: Q2 FY25 (July-Sept 2024) — ended 30 Sept 2024
- Half year ended 30 Sept 2025 (H1 FY26)
- Half year ended 30 Sept 2024 (H1 FY25)
- Full financial year ended 31 March 2025 (FY25)
Key Financials (INR in lacs)
| Metric | Standalone Q2 FY26 | Standalone Q1 FY26 | Standalone Q2 FY25 | Standalone H1 FY26 | Standalone H1 FY25 | Standalone FY25 |
|---|---|---|---|---|---|---|
| Revenue from operations | 150,215 | 231,747 | 158,208 | 381,962 | 396,578 | 742,080 |
| Other income | 4,519 | 4,897 | 4,535 | 9,416 | 9,270 | 17,336 |
| Total income | 154,734 | 236,644 | 162,743 | 391,378 | 405,848 | 759,416 |
| Total expenses | 151,952 | 218,487 | 157,005 | 370,439 | 382,025 | 717,654 |
| Profit before exceptional items & tax | 2,782 | 18,157 | 5,738 | 20,939 | 23,823 | 41,762 |
| Exceptional item (insurance claim) | 0 | 991 | 0 | 0 | 0 | 700 |
| Profit before tax | 3,773 | 18,157 | 5,738 | 21,930 | 23,823 | 42,462 |
| Income tax expense | 1,064 | 4,650 | 1,568 | 5,714 | 6,250 | 11,125 |
| Net profit | 2,709 | 13,507 | 4,170 | 16,216 | 17,573 | 31,337 |
| Other comprehensive income (net of tax) | (61) | 58 | 114 | (3) | 299 | 147 |
| Total comprehensive income | 2,648 | 13,565 | 4,284 | 16,213 | 17,872 | 31,484 |
| EPS (Basic & Diluted, INR) | 2.14 (not annualised) | 10.65 (not annualised) | 3.29 (not annualised) | 12.78 (not annualised) | 13.85 (not annualised) | 24.70 (annualised) |
| Metric | Consolidated Q2 FY26 | Consolidated Q1 FY26 | Consolidated Q2 FY25 | Consolidated H1 FY26 | Consolidated H1 FY25 | Consolidated FY25 |
|---|---|---|---|---|---|---|
| Revenue from operations | 164,727 | 243,232 | 171,299 | 407,959 | 420,985 | 791,937 |
| Other income | 4,983 | 5,407 | 4,933 | 10,390 | 10,068 | 19,079 |
| Total income | 169,710 | 248,639 | 176,232 | 418,349 | 431,053 | 811,016 |
| Total expenses | 164,951 | 228,995 | 168,895 | 393,946 | 404,125 | 762,704 |
| Profit before exceptional items & tax | 4,759 | 19,644 | 7,337 | 24,403 | 26,928 | 48,312 |
| Exceptional item (insurance claim) | 991 | 0 | 0 | 991 | 0 | 700 |
| Profit before tax | 5,750 | 19,644 | 7,337 | 25,394 | 26,928 | 49,012 |
| Income tax expense | 1,570 | 5,036 | 1,984 | 6,606 | 7,050 | 12,734 |
| Net profit | 4,180 | 14,608 | 5,353 | 18,788 | 19,878 | 36,278 |
| Other comprehensive income (net of tax) | (59) | 55 | 115 | (4) | 305 | 140 |
| Total comprehensive income | 4,121 | 14,663 | 5,468 | 18,784 | 20,183 | 36,418 |
| EPS (Basic & Diluted, INR) | 3.26 (not annualised) | 11.49 (not annualised) | 4.10 (not annualised) | 14.74 (not annualised) | 15.44 (not annualised) | 28.30 (annualised) |
Margins (Standalone)
-
Q2 FY26 EBITDA margin (approximate):
EBITDA = Profit before exceptional items + Depreciation + Finance costs
= 2,782 + 4,581 + 736 = 8,099 lacs
Margin = 8,099 / 150,215 = ~5.39% (on revenue from operations) -
Q2 FY25 EBITDA margin (approximate):
= 5,738 + 4,596 + 1,040 = 11,374 lacs
Margin = 11,374 / 158,208 = ~7.19% -
Indicates a decline in EBITDA margin QoQ and YoY.
3. Detailed Notes / Management Commentary
-
Exceptional item:
INR 991 lacs recognized in Q2 FY26 (both standalone and consolidated) as the final tranche of an insurance claim related to a fire loss at the Delhi warehouse on March 25, 2024. Earlier tranche of INR 700 lacs was received in March 2025 quarter. -
Accounting policies:
No changes or material adjustments reported. -
Segment:
Company operates predominantly in a single reportable segment - Home Appliances. -
Earnings per share:
EPS for interim periods is not annualised. -
Certificate:
MD and CFO have certified the results as per SEBI regulations.
4. Segment Information
- Only one reportable segment: Home Appliances.
- No further breakdown by product or geography provided.
5. Capex, Projects, and Corporate Activity
-
Capital expenditure:
- Standalone Capex for H1 FY26: INR 9,514 lacs (net of advances)
- Consolidated Capex for H1 FY26: INR 9,925 lacs (net of advances)
- Capex increased compared to H1 FY25 (Standalone: 4,498 lacs; Consolidated: 4,768 lacs)
-
Acquisitions:
- No new acquisitions in the current period.
- Previous acquisition of additional interest in subsidiary reflected in FY24 cash flows (INR 16,663 lacs).
-
Impairments / Writedowns:
- None reported.
-
Restructuring / Cost-cutting:
- No specific mention.
6. Standalone vs Consolidated
- Both standalone and consolidated results are provided and reviewed.
- Consolidated includes subsidiary: Elica PB Whirlpool Kitchen Appliances Private Limited.
- Consolidated results show higher revenue, profit, and equity due to subsidiary inclusion.
- Goodwill of INR 74,780 lacs on consolidated balance sheet related to subsidiary.
7. Balance Sheet Highlights (As at 30 Sept 2025)
| Particulars | Standalone (INR lacs) | Consolidated (INR lacs) |
|---|---|---|
| Total Assets | 580,369 | 652,990 |
| Non-current assets | 191,496 | 214,297 |
| Current assets | 388,873 | 438,693 |
| Equity | 359,271 | 412,026 |
| Non-controlling interest | - | 4,143 |
| Total liabilities | 221,098 | 240,964 |
| Lease liabilities (Non-current + Current) | 25,200 | 26,096 |
| Trade payables (current) | 116,902 | 121,869 |
| Provisions (current + non-current) | 46,222 | 49,658 |
8. Cash Flow Summary (6 months ended 30 Sept 2025)
| Particulars | Standalone (INR lacs) | Consolidated (INR lacs) |
|---|---|---|
| Net cash from operating activities | 15,508 | 16,446 |
| Net cash used in investing activities | (3,167) | (2,757) |
| Net cash used in financing activities | (10,567) | (10,882) |
| Net increase in cash & cash equivalents | 1,774 | 2,807 |
| Cash & cash equivalents at period end | 229,297 | 260,260 |
- Significant cash inflow from operations.
- Capex spending reflected in investing cash outflows.
- Financing cash outflows mainly due to lease liabilities repayment and dividend payments.
Summary for Investment Analysis Team
| Aspect | Key Points |
|---|---|
| Auditor’s Note | Clean review reports with no qualifications or concerns. |
| Financial Performance | - Q2 FY26 standalone revenue down QoQ and YoY; consolidated revenue follows similar trend. |
| - Net profit declined sharply in Q2 FY26 standalone (2,709 lacs) vs Q1 FY26 (13,507 lacs). | |
| - Exceptional insurance claim of 991 lacs recognized in Q2 FY26. | |
| - EPS (Standalone) Q2 FY26: INR 2.14 (not annualised), Consolidated: INR 3.26 (not annualised). | |
| Margins | EBITDA margin declined QoQ and YoY, indicating margin pressure. |
| Segment | Single segment: Home Appliances. |
| Capex & Projects | Increased capex in H1 FY26 vs H1 FY25 (~9,500 lacs standalone). No new acquisitions. |
| Balance Sheet | Strong cash position (~229,000 lacs standalone), moderate lease liabilities, and stable equity. |
| Cash Flow | Healthy operating cash flow; capex and financing outflows as expected. |
| Standalone vs Consolidated | Consolidated includes subsidiary with goodwill of ~74,780 lacs; consolidated results stronger. |
No material changes in accounting policies or other caveats noted.
This structured summary can be used directly for investment decision-making and further financial analysis.