Whirlpool of India down after analysts flag competitive pressure

Whirlpool of India

06/11/2023 09:05

** Shares of Whirlpool of India  WHIR.NS  fall as much as
3.3% to 1,565 rupees
    ** Co's Q2 topline declined due to price discounts taken in
order to aid competitiveness - Nirmal Bang
    ** Adds, heightened competitive intensity to affect WHIR
primarily because new players such as Volt Beko and Lloyd are
gaining market share for similar products
    ** FY16-20 EBITDA margin level of 11%-12.4% unlikely to be
restored and 7%-9% could be a new normal range - Centrum 
    ** While gross margins aided by correction in input prices,
benefit is partly offset by higher ad-spends - ICICI Securities
    ** Co's Q2 profit fell 23.7% YoY; revenue fell 5%
    ** Mean rating of 12 analysts is "hold"; median PT is 1,430
rupees - LSEG data
    ** Stock last down 2.7%, trimming YTD gain to 5.2%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))