Whirlpool India posted a much better set of earnings in the first quarter of the current fiscal than expected, posting strong growth versus street estimates of a decline.
In an interview to CNBC-TV18, Sunil D'Souza, Managing Director of Whirlpool India, spoke about the results and his outlook for the company.
Whirlpool registered volume growth of 16 percent in the first quarter, said D'Souza. He added that there was softness in the month of June due to goods and services tax (GST) uncertainty.
D'Souza further said that volume momentum rebounded since GST implementation. He said that the refrigerators and washing machine segments saw good growth.
According to him, consumer off-take continues to be strong in July. Whirlpool declared its maiden dividend in March quarter.
We will need capex going forward for capacity expansion, said D'Souza.
"We do not rule out acquisitions. We evaluate whatever is there in the market to make sure that if we do anything it is providing incremental value," he said.
He said that change in product mix and change in commodity cost led to a margin blip.
D'Souza is fairly confident about margins going forward.
Watch accompanying video for more details.
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