Whirlpool India's Q4 FY26 Earnings: Revenue Up, Profit Down

Whirlpool of India's standalone revenue grew 7.4% to Rs 2,030 crore in the fourth quarter of fiscal year 2026. Despite this top-line growth, profitability suffered significantly. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) dropped 40.9% to Rs 100 crore, and Profit Before Tax (PBT) fell 36.4% to Rs 91 crore.

For the full fiscal year 2025-26, Whirlpool of India's revenue increased by 0.7% to Rs 7,474 crore. However, full-year EBITDA declined 16.7% to Rs 396 crore, and PBT decreased 16.6% to Rs 348 crore.

On a consolidated basis, which includes its subsidiary Elica, Whirlpool India's Q4 FY26 revenue was up 8.8% to Rs 2,181 crore. Consolidated EBITDA decreased by 33.7% to Rs 121 crore, and consolidated PBT fell 29.0% to Rs 110 crore. For the full fiscal year, consolidated revenue grew 1.4% to Rs 8,034 crore, while consolidated EBITDA and PBT saw declines of 12.6% and 11.9% respectively.

Key Financial Highlights:

• Q4 FY26 Standalone Revenue: Rs 2,030 crore (up 7.4% year-over-year)
• Q4 FY26 Standalone EBITDA: Rs 100 crore (down 40.9% year-over-year)
• Q4 FY26 Standalone PBT: Rs 91 crore (down 36.4% year-over-year)
• Full Year FY25-26 Standalone Revenue: Rs 7,474 crore (up 0.7% year-over-year)
• Full Year FY25-26 Standalone EBITDA: Rs 396 crore (down 16.7% year-over-year)
• Elica Revenue Growth in Q4 FY26: 30%

Market Share Gains Amid Profit Pressure

Despite the profit decline, Whirlpool of India made strides in market share during the fourth quarter. The company secured the second position in the Mar’26 T2 market and maintained its leadership in direct cool refrigerators. It also achieved the second spot in top-load and semi-automatic washing machine segments.

Factors Affecting Profitability

Management cited several factors impacting margins. Changes in energy efficiency norms for refrigerators and air conditioners, along with new incremental e-waste costs, contributed to the profit squeeze. Additionally, planned investments in the Aircon business led to higher working capital in the fourth quarter, which could affect short-term cash flow.

Future Focus

Whirlpool of India's leadership plans to focus on strategic imperatives such as brand building, product innovation, and supply chain resilience. The company noted double-digit volume growth in front-load washing machines and significant expansion in Aircon volumes, indicating areas of strong demand. Investors will be closely watching how the company navigates margin pressures and manages its working capital to translate future revenue growth into improved profitability.