BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Whirlpool Of India Ltd.'s standalone revenue came in below ours and consensus estimates with, revenue declining 7.4% YoY. This decline is on back of ~12% price increase on YoY basis indicating higher volume decline for the company.
Entry level products have been witnessing demand slowdown in high inflationary environment. Our channel checks suggest Whirlpool of India is losing out on market share in hyper competitive market as other players have been pricing their products aggressively in quest to gain market share.
On the margin front, Whirlpool of India continues to see gross margin erosion of 350 basis points YoY, while on sequential basis it has improved 124 bps on lower commodity prices.
Gross margins are still way below their historical averages.
Although it has devised strategy of regaining its lost market share and further building on it in ensuing quarters, we feel market share gains will be a difficult and long drawn process in current hyper competitive scenario.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
