 "Whirlpool")
Whirlpool shares hit 52-week high: Shares of appliance maker Whirlpool soared as much 1.88 per cent to hit a fresh 52-week high of Rs 1,827.50 per share on Thursday.
The uptick in stock price came after the Whirlpool of India and Hindustan Unilever Ltd announced a new marketing alliance for Surf Excel, the laundry brand of the FMCG player.
“The two trusted brands in the home care industry have collaborated to deliver superior cleaning performance and convenience to households. The integration of innovative technologies from both brands will help in delivering superior fabric care, improving the daily laundry process, and resulting in an enhanced customer experience,” Whirlpool said in a statement.
"Washing machine penetration in India is still in its nascent stages and a significant number of consumers are first-time buyers. Our partnership is an opportunity to leverage our combined strengths - the coming together of superior mechanical action, thermal action and chemical action to deliver expertise in the removal of stubborn stains,” said Kumar Gaurav Singh, vice president of marketing at Whirlpool of India.
In a fresh campaign, the collaboration showcases the advanced technology of Whirlpool Top Load Washing Machines alongside the effective cleaning prowess of Surf Excel Matic Liquid Detergent, offering consumers a streamlined and efficient cleaning experience.
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“Our partnership is not just about increasing the penetration of liquid detergents, but also about providing an enhanced laundry experience and educating consumers on the benefits of our combined offering. By bringing together advanced technologies, we aim to offer a superior solution for fabric care needs while also raising awareness about the importance of proper laundry practices. Our goal is to provide convenience and innovation to households across India, making laundry routines easier and more effective than ever before,” said Srinandan Sundaram, executive director, home care at Unilever.
FInancial performance
Whirlpool reported a 24.7 per cent surge in consolidated net profit to Rs 79.5 crore in the March quarter (Q4FY24), as opposed to Rs 63.7 crore in the corresponding period of the previous fiscal year (Q4FY23).
Whirlpool reported a 24.7 per cent surge in consolidated net profit to Rs 79.5 crore in the March quarter (Q4FY24), as opposed to Rs 63.7 crore in the corresponding period of the previous fiscal year (Q4FY23).
Whirlpool's revenue from operations rose 3.7 per cent to Rs 1,734 crore, compared to Rs 1,672.7 crore in the same period last year.
Total expenses for Whirlpool of India in the March quarter increased 2.1 per cent to Rs 1,660.4 crore, while total income climbed 5.2 per cent to Rs 1,793.52 crore.
For the full fiscal year 2024, Whirlpool of India's consolidated net profit remained flat at Rs 224.30 crore, compared to Rs 224.01 crore in the previous year. Revenue from operations for FY24 stood at Rs 6,829.8 crore, up by 2.43 per cent.
Whirlpool of India board recommended a final dividend of Rs 5 per equity share with a face value of Rs 10 for FY24.
At 10:00 AM, shares of Whirlpool werre trading 1.47 per cent higher at Rs 1,820 per share. By comparison, BSE Sensex was trading 0.30 per cent higher at 76,838.71 levels.
