Whirlpool of India Limited has reported a decline in its financial performance for the second quarter of the fiscal year 2025-26. The company, a leading manufacturer of home appliances, faced challenges across key financial metrics, as revealed in its latest quarterly results.

Revenue and Profit Decline

The company's revenue from operations decreased to ₹16.50 billion in Q2 FY2025-26, down from ₹17.13 billion in the same period last year, marking a 3.7% year-over-year decline. This reduction in top-line performance indicates potential headwinds in the consumer appliance market or increased competition.

Net profit for the quarter stood at ₹413 million, a significant drop from ₹520 million reported in the corresponding quarter of the previous year, representing a 20.6% decrease. This decline in profitability could be attributed to various factors, including increased operational costs or market pressures.

EBITDA and Margin Compression

Whirlpool of India experienced a substantial decline in its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). The EBITDA for Q2 FY2025-26 was reported at ₹578 million, down from ₹870 million in the same quarter last year, showing a 33.6% decrease.

The EBITDA margin also saw compression, falling to 3.51% from 5.08% year-over-year. This margin contraction suggests that the company faced challenges in maintaining its operational efficiency during the quarter.

Financial Performance Overview

To provide a clearer picture of Whirlpool of India's Q2 FY2025-26 performance, here's a tabular representation of the key financial metrics:

The decline across all major financial indicators suggests that Whirlpool of India faced a challenging quarter. The company may need to address these headwinds through strategic initiatives to improve its performance in the coming quarters.

Investors and market analysts will likely be closely watching Whirlpool of India's future performance and any measures the company might take to reverse this downward trend. The management's commentary on these results and their outlook for the rest of the fiscal year will be crucial for stakeholders to understand the company's path forward.

As the home appliance market continues to evolve, Whirlpool of India's ability to adapt to changing consumer preferences and market dynamics will be key to its future growth and profitability.

Whirlpool of India Limited has announced a significant corporate action, seeking shareholder approval to amend its Articles of Association (AoA) through a postal ballot. The proposed changes aim to delete Articles 4, 4A, and 108A, reflecting a potential shift in the company's ownership structure and operational agreements.

Key Highlights of the Proposed Changes

• Deletion of Articles: The company proposes to remove Articles 4, 4A, and 108A from its AoA.
• Voting Period: Shareholders can cast their votes electronically from October 30, 2025 (9:00 AM IST) to November 28, 2025 (5:00 PM IST).
• New Licensing Agreements: The company has executed new Brand Licence and Technology Licence Agreements with Whirlpool Corporation and its affiliates.

Rationale Behind the Amendments

The proposed deletions are strategically aligned with anticipated changes in Whirlpool's shareholding structure and aim to ensure business continuity. Currently, Whirlpool Corporation indirectly holds approximately 51.00% of Whirlpool India's equity through its subsidiary, Whirlpool Mauritius Limited.

Articles to be Deleted

1. Article 4: Pertains to Financial and Technical Collaboration Agreements with Whirlpool Corporation.
2. Article 4A: Concerns the use of the "Whirlpool" trade name and conditions for its withdrawal.
3. Article 108A: Relates to the appointment of nominee directors by ICICI Bank, now redundant due to repayment of borrowings.

New Licensing Arrangements

On October 16, 2025, Whirlpool India's Board approved and executed:

• A Brand Licence Agreement with Whirlpool Properties Inc.
• A Technology Licence Agreement with Whirlpool Corporation

These new agreements are designed to:

• Govern future licensing arrangements
• Facilitate a seamless transition amid anticipated shareholding changes
• Support the company's sustained growth and innovation
• Ensure continued strategic and operational support from Whirlpool Corporation

Shareholder Approval Process

• Voting Method: Electronic voting only
• Cut-off Date: October 24, 2025 (for determining voting rights)
• Resolution Type: Special Resolution

Impact on Shareholders

The proposed amendments suggest a potential change in Whirlpool Corporation's majority stake in the Indian subsidiary. However, the new licensing agreements aim to maintain business continuity and support from the parent company, regardless of potential ownership changes.

Shareholders are advised to carefully review the full postal ballot notice and explanatory statement before casting their votes. The results of the postal ballot will be announced within two working days from the conclusion of the e-voting period.

Upcoming Financial Results

In a separate announcement, Whirlpool India has scheduled a Board meeting for November 4, 2025, to consider and approve the unaudited financial results for Q2 FY2026. The trading window for company securities will remain closed until 48 hours after the declaration of these results.

Investors and stakeholders should monitor these developments closely, as they may have significant implications for the company's future operations and governance structure.