KRChoksey's research report on Whirlpool of India
Whirlpool of India Ltd (WOIL) posted its Q1FY18 results. Net revenue for Q1FY18 was at INR 16,178.8 Mn which grew by 15.0% YoY and 45.2% QoQ. The revenue was in line with our estimates due to seasonality of cooling products and GST implementation enabled the company to sell of the inventories. EBIDTA for Q1FY18 stood at INR 2,107.6 Mn with margins of 13.0% which was an increase of 184.7 bps QoQ and decrease of 50.4 bps YoY due to higher raw material and employee cost. However the company ran out of inventory due to GST and there was sharp reduction in inventory by 162% QoQ. PAT for Q1FY18 stood at INR 1,327.2 Mn and PAT margin was at 8.2% which saw a decline of 46.9 bps YoY and an increase of 152.8 bps QoQ.
Outlook
we expect the Revenue and PAT to grow at CAGR of 13.9% and 23.2% respectively between FY15 and FY19E. We have a “BUY” rating on the stock with Target Price of INR 1,390 representing an upside of.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
