B of A Securities analyst Rafe Jadrosich has lowered the price target for Whirlpool to $36 from $43 while maintaining an Underperform rating. The adjustment reflects a revised outlook on the stock's performance.

Rating and Target Details

The research note from B of A Securities underscores a cautious stance on Whirlpool. The new price target of $36 represents a decrease from the previous target of $43.

The firm's decision to maintain the Underperform rating suggests that the stock may continue to face headwinds in the near term.

Whirlpool of India reported a consolidated net profit of ₹29,530 lacs for the financial year ended March 31, 2026. The company's board has recommended a final dividend of ₹5 per equity share of ₹10 each, aggregating to ₹6,344 lacs, subject to shareholder approval at the upcoming Annual General Meeting.

The standalone net profit for the year stood at ₹24,223 lacs, while consolidated revenue from operations rose to ₹803,420 lacs. For the quarter ended March 31, 2026, the company posted a consolidated net profit of ₹8,050 lacs on revenue of ₹218,077 lacs. The results were reviewed by the Audit Committee and approved by the Board in their meeting held on May 20, 2026.

Financial Performance

The company's financial results for the quarter and year ended March 31, 2026, are detailed below:

Operational Highlights

During the quarter ended March 31, 2026, whirlpool acquired an additional 3.18% shareholding in its subsidiary, Elica PB Whirlpool Kitchen Appliances Private Limited, for a consideration of ₹5,856 lacs. This acquisition increased the company's total shareholding in the subsidiary to 100%. The consolidated financial results include the performance of this subsidiary.

The company recorded an exceptional item of ₹991 lacs in both standalone and consolidated results, representing the final tranche of an insurance claim received against a fire loss at a Delhi warehouse in March 2024. Additionally, the Group accrued an incremental impact of ₹3,884 lacs (₹3,341 lacs standalone) related to the implementation of new Labour Codes effective November 21, 2025, disclosed as an exceptional item in the unaudited results for the quarter ended December 31, 2025.

Corporate Governance

The statutory auditors, S.R. Batliboi & Co. LLP, issued an audit report on the standalone and consolidated financial results pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report confirms that the results give a true and fair view of the company's financial performance. The statement of assets and liabilities and cash flows for the year ended March 31, 2026, have also been disclosed.