Whirlpool FY26 PAT Rs 295 Cr; Q4 Profit Declines

Whirlpool of India Limited has reported its audited financial results for the quarter and year ended March 31, 2026. The company delivered high single-digit revenue growth in Q4, though profitability faced significant pressure from regulatory headwinds and commodity inflation. The Board of Directors has recommended a final dividend of Rs 5 per equity share for the financial year 2025-26.

Q4 Financial Performance

Consolidated Revenue from Operations for the quarter stood at Rs 2,181 Cr, compared to Rs 2,005 Cr in the same period last year, reflecting a 9% year-on-year increase. Despite the topline growth, profitability metrics declined sharply. Consolidated EBITDA fell to Rs 121 Cr from Rs 183 Cr in the prior-year period, with the EBITDA margin contracting to 5.56% from 9.13% year-on-year. Profit Before Tax (PBT) dropped 29% to Rs 110 Cr, while net profit declined to Rs 81 Cr from Rs 119 Cr in the same quarter last year.

Metric	Q4 FY26	Q4 FY25
Revenue from Operations	Rs 2,181 Cr	Rs 2,005 Cr
EBITDA	Rs 121 Cr	Rs 183 Cr
EBITDA Margin	5.56%	9.13%
PBT (before exceptional item)	Rs 110 Cr	29% decrease YoY
Net Profit	Rs 81 Cr	Rs 119 Cr

The company noted that profitability in Q4 was impacted by regulatory headwinds, including incremental E-waste provisions and energy transition costs for air conditioners and refrigerators, exacerbated by war-led commodity inflation.

Annual Performance

For the full year ended March 31, 2026, Consolidated Revenue from Operations reached Rs 8,034 Cr, registering a 1.4% increase year-on-year. The first half of the fiscal year faced significant challenges, including a weak summer season and extraordinary competitive pricing, which led to a 3% revenue decline in H1. However, the second half saw a progressive recovery, delivering 6.6% revenue growth driven by market share gains in the washer and air-conditioning segments.

Consolidated EBITDA for the year was Rs 481 Cr, lower by 12.6% versus the previous year. Consolidated PBT before exceptional items was Rs 426 Cr, a 12% decrease, while Consolidated PAT was Rs 295 Cr after accounting for the full impact of new wage code regulations. The consolidated material margin declined by 50 basis points year-on-year due to cost headwinds.

Subsidiary Performance

Whirlpool's subsidiary, Elica PB India, continued its strong performance during the period. It reported 30% revenue growth and 50% PBT growth in Q4 FY26. For the full year, the subsidiary achieved 12% revenue growth and 15% PBT growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.57%	-5.22%	-20.37%	-17.90%	-38.61%	-64.32%

Whirlpool of India Limited has published a newspaper advertisement under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in Financial Express (All Editions) and Loksatta (Pune Edition), pertaining to its postal ballot notice seeking shareholder approval for the re-designation of Mr. Arvind Uppal (DIN: 00104992) from Non-Executive Independent Director to Non-Executive Non-Independent Director, with effect from 6th May, 2026. The postal ballot notice dated 13th May, 2026 has been dispatched in electronic form to members whose email addresses are registered with the Company's Registrar and Transfer Agent or Depository Participants as on the cut-off date of Friday, 10th May, 2026. The notice is available on the Company's website at www.whirlpoolindia.com , as well as on the websites of BSE Limited, National Stock Exchange of India Limited, and NSDL.

Background and Rationale for Re-designation

Mr. Arvind Uppal was appointed as an Independent Director of the Company with effect from 17th August, 2021, and has been on the Board since 2005. The explanatory statement notes that the Company is in a transitionary phase following the reduction of Whirlpool Corporation's shareholding through Whirlpool Mauritius Limited from a majority position, with Whirlpool Corporation currently holding 39.76% shareholding. In this context, the Company has constituted a Strategic Overview Committee to support the Board and management in addressing governance matters.

Given Mr. Uppal's extensive leadership experience of over 36 years and deep familiarity with the Whirlpool business and ecosystem, the Board noted that his envisaged role going forward includes closer involvement in matters requiring interaction with the single largest shareholder. Based on the recommendation of the Nomination and Remuneration Committee, the Board at its meeting held on 6th May, 2026, approved — subject to member approval — the re-designation of Mr. Uppal from Non-Executive Independent Director to Non-Executive Non-Independent Director, whose office shall be liable to retire by rotation.

Profile of Mr. Arvind Uppal

The following key details regarding Mr. Arvind Uppal are provided in the annexure to the postal ballot notice:

Parameter:	Details
Name:	Arvind Uppal
DIN:	00104992
Date of Birth / Age:	June 19, 1962 / 63 years
Date of First Appointment:	January 27, 2005
Qualification:	B.E. (IIT Delhi), MBA (Faculty of Management Studies, Delhi)
Experience:	Over 36 years in business development, sales & marketing, leadership, innovation and product development
Last Remuneration Drawn:	INR 33.83 Lakhs*
Shareholding in Company:	NIL
Board Meetings Attended (FY 2025-26):	10
Listed Companies Resigned (Past 3 Years):	NIL

*Remuneration as per last audited financial statements i.e. FY 2024-25, includes sitting fees and commission.

Mr. Uppal holds directorships in several other companies, including Gulf Oil Lubricants India Limited, Eureka Forbes Limited, Amber Enterprises Limited, IL JIN Electronics (India) Private Limited, Life Style International Private Limited, Tuscan Ventures Private Limited, One Degree Turn (OPC) Private Limited, and Tirex Transmission Private Limited.

E-Voting Details and Process

The Company has engaged National Securities Depositories Limited (NSDL) to provide the remote e-voting facility. The key timelines for the postal ballot are as follows:

Parameter:	Details
Postal Ballot Notice Date:	13th May, 2026
Cut-off Date:	Friday, 10th May, 2026
E-Voting Start:	Thursday, 14th May, 2026 at 09:00 AM (IST)
E-Voting End:	Friday, 12th June, 2026 at 05:00 PM (IST)
Scrutinizer:	M/s. Akash Gupta and Associates, Practicing Company Secretaries
E-Voting Platform:	NSDL ( www.evoting.nsdl.com )

Voting rights of members will be in proportion to their shareholding in the paid-up equity share capital of the Company as on the cut-off date. The resolution, if passed by the requisite majority, will be deemed to have been passed on 12th June, 2026. The scrutinizer's report and voting results will be announced within 2 working days from the conclusion of e-voting and will be made available on the Company's website, as well as on the websites of NSE, BSE, and NSDL.

Board Committees — Whirlpool of India Limited

As part of his role, Mr. Uppal is a member of the following Board committees at Whirlpool of India Limited:

Nomination and Remuneration Committee
Stakeholder Relationship Committee
Corporate Social Responsibility Committee
Risk Management Committee
Strategic Overview Committee

The postal ballot notice has been signed by Sweta Srivastava, Company Secretary & Compliance Officer (Membership No. ACS 27095). Members who have not updated their email address with the Company or RTA are requested to update their email address — those holding shares in dematerialised form may do so through their respective Depository Participants, while those holding shares in physical form may send duly filled Form ISR-1 to MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited), Embassy 247, 1st Floor, Plot No. C-101, LBS Marg, Vikhroli (West), Mumbai - 400 083.