Whirlpool surges over 6% intraday as Q4 results beat expectations; ends 2% up

MUMBAI: Shares of Whirlpool of India ended the day at Rs 751.65; up 2.35%. The stock rallied over 6% in intraday trades as Q4 results beat Street expectations.

Net profit surged to Rs 55.27 crore, up 55.47 per cent, as against a net profit of Rs 35.55 crore in the corresponding quarter last fiscal year.

Net sales for the period increased to Rs 748.18 crore, up 17.51 per cent, as compared to Rs 636.68 crore in year ago period. EBIDTA increased to Rs 82.7 crore as compared to Rs 59.4 crore.

Recently, CRISIL revised its rating outlook on the long-term bank facility of Whirlpool of India to 'Positive' from 'Stable', while reaffirming the rating at 'CRISIL AA-'; the rating on the company's short-term debt has been reaffirmed at 'CRISIL A1+'.

The outlook revision reflects CRISIL's belief that expected pick-up in demand and lower raw material prices could lead to sustenance of WOIL's improved operating profitability over the medium term.

“WOIL has a robust financial risk profile, marked by a healthy capital structure and strong debt protection metrics. The company continues to be debt-free as on March 31, 2015, and had a healthy cash and bank balance of Rs.5.4 billion as on March 31, 2015. It has no major capex plans over the medium term,” CRISIL report said.