Whirlpool Of India Limited · NSE:WHIRLPOOL
Whirlpool Of India — Q3 FY2023-24 Earnings Presentation
28 slides from Whirlpool Of India's earnings presentation, Feb 2, 2024
Slide 1: Cover letter to stock exchanges: Earnings Conference Call presentation
February 02, 2024 The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Mumbai, Bandra Kurla Complex, Bandra East, Maharashtra - 400001 Mumbai, Maharashtra – 400051 Scri
Slide 2: Welcome to Earnings Conference Call of Whirlpool of India Limited
Welcome to Earnings Conference Call of Whirlpool of India Limited The Call will begin at 04:00 PM 1
Slide 3: Whirlpool of India Limited Corporate Presentation
Whirlpool of India Limited Corporate Presentation February 02, 2024 2
Slide 4: Cautionary Statement
Cautionary Statement This Presentation/Communication, except for the historical information, may contain statements, including the words or phrases such as 'expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should' and similar
Slide 5: Agenda
Agenda Topic I. Business Overview II. Strategic Imperatives III. Financial Performance 4
Slide 6: I. Business Overview
I. Business Overview 5
Slide 7: India: A Strategic Focus For Whirlpool
India: A Strategic Focus For Whirlpool ● India’s huge value creation opportunity is underpinned by future market GDP growth, low appliances penetration and a growing affluent demographic ● Whirlpool India has a track record of value creation ○ Pioneering role in the Indian durables industry and has
Slide 8: Track Record of Growth and Profitability; Actions In Place Reversing Recent Trends
Track Record of Growth and Profitability; Actions In Place Reversing Recent Trends Standalone Revenue from Operations (INR Cr) Revenue CAGR: ~12% until 19-20 Standalone Profit Before Tax (PBT) PBT CAGR: +20% until 19-20 Post FY 2019-2020 impacted by COVID shutdowns, intensifying competition, and reg
Slide 9: 2023-24 Standalone Revenue Growth & Gross Margins
2023-24 Standalone Revenue Growth & Gross Margins Revenue Growth YoY% FY 2023-24 - A Tale of Two Halves - H1 impacted by price adjustments and regulatory cost - Q3 driven by executional excellence, cost productivity and festival seasonality 9M FY 23-24 - YOY Gross margin improvement Gross Margin % P
Slide 10: Cooking: Strong Performance and Opportunity
Cooking: Strong Performance and Opportunity ELICA INDIA* BUSINESS Revenue Double Digit CAGR, Strong Margins Increased our ownership in Elica India from 49% to ~87% in 2021-22 2022-23 9M 23-24 2021. ** Strong capabilities in local manufacturing, innovation, Revenue Growth % 21% 22% 7% distribution &
Slide 11: II. Strategic Imperatives
II. Strategic Imperatives 10
Slide 12: Whirlpool Corporation – Committed to India
Whirlpool Corporation – Committed to India Whirlpool’s Commitment to India “We truly believe in the long-term trajectory of India. It is one of the strongest growth opportunities for the company. Whirlpool of India’s long term outlook for growth and margins are both in the high single digits, making
Slide 13: Our Strategic Imperatives
Our Strategic Imperatives… BUILD A GROW OUR WIN WITH INSPIRE WITH COMPETITIVE EXCELLENCE CONSUMER PRODUCT OUR BRANDS AND RESILIENT IN EXECUTION DIRECT LEADERSHIP SUPPLY CHAIN BUSINESS 12
Slide 14: Inspire With Our Brands: Our History
Inspire With Our Brands: Our History Introduced Pedestals and Auto Defrost; First 3-Door Platina Range Early Pioneers in Colours and Finishes India’s First VA Heater Whirlpool - A pioneer in India durables industry Detailed T&C available on Company’s website. 13
Slide 15: Inspire Trust: 4 Year Comprehensive Warranty on Semi Automatic Washers
Inspire Trust: 4 Year Comprehensive Warranty on Semi Automatic Washers 14
Slide 16: Product Leadership: Product Innovation Focused on Winning in Premium Segments
Product Leadership: Product Innovation Focused on Winning in Premium Segments Initiated Plans for Premiumization of the Portfolio in 2022 Single Door Refrigerator Top Load Fully Front Load ‘Appliance of the Year- Premium 5 Automatic Fully Automatic Refrigerator Category’* star at National Energy rei
Slide 17: Turbocharging Premiumization Through Elica India's Premium Product Ranges
Turbocharging Premiumization Through Elica India’s* Premium Product Ranges Recent Product Introductions Ismart Inverter kitchen hoods -Deep silence version -Power savings of up to 60% - -Baffle filter version Powerful suction with BLDC Motors -Heat auto-clean version -Flexi voltage operation -Vertic
Slide 18: Resilient Supply Chain: Driving Quality and Cost
Resilient Supply Chain: Driving Quality and Cost Pune Faridabad Puducherry Bronze in 2021 Bronze in 2022 Bronze in Oct 2023 Strong P4G program delivering cost take out across all lines of the P&L 17
Slide 19: Excellence in Execution and Creating a Customer-Centric Service Organization
Excellence in Execution and Creating a Customer- Centric Service Organization Aim: Win Every Day in Every Store with Every Consumer Strong NPS Improvement 100 Stronger visibility of premium lines and new ranges 50 Right pricing strategy specially on premium lines 0 Stronger sales & service execution
Slide 20: Building D2C Capabilities for the Future
Building D2C Capabilities for the Future Modern & scalable platform built with cutting- Strong D2C operations edge technologies backbone in place Delivering a differentiated online buying experience…creating loyalty & building trust 19
Slide 21: III. Financial Performance
III. Financial Performance 20
Slide 22: Q3 FY 2023-24 Standalone (Whirlpool Of India)
Q3 FY 2023-24 Standalone (Whirlpool Of India) TOP LINE GROWTH Revenue YoY change 1,398 Cr +19.2% ● Revenue from operations up by ~19% (including timing EBITDA* MOVEMENT of Diwali festival). Sequential improvement in growth YoY change with momentum across key categories: EBITDA* (% revenue) — Refrige
Slide 23: Improving T2 (Refrigerator & Washers) Market Share Trend
Improving T2 (Refrigerator & Washers) Market Share Trend *Market: Oct ’22 - Mar ’23: Apr '23 – Sep ’23: Oct ’23 - Dec ’23: Mid Single Digit Growth Flattish Growth Low Single Digit Growth Impacted by price index Execution step-up Additional REs# full impact challenges (Oct-Dec) + Frost-Free range New
Slide 24: Deliver Sustainable and Profitable Growth
Deliver Sustainable and Profitable Growth Inspire with Our Brands Product Leadership Resilient Supply Chain x Superior consumer insights to Best in class quality through WCM; Overdrive premiumization & drive best-in-class innovation Cost productivity programs (P4G) fill gaps in core categories to de
Slide 25: Questions
QUESTIONS 24
Slide 26: Thank you
Whirlpool Thank you
Slide 27: Appendix
Whirlpool 26
Slide 28: Q3 FY 2023-24 Consolidated (Whirlpool + Elica)
Q3 FY 2023-24 Consolidated (Whirlpool + Elica) TOPLINE GROWTH Revenue YoY change ● Revenue from operations up by ~18% (including timing of 1,536 Cr +17.9% Diwali festival). Sequential improvement in growth with momentum across key categories EBITDA MOVEMENT YoY change — Refrigerators (+ high double
Whirlpool of India — Q3 FY2023-24 Earnings Presentation on 6ix