In January 2025, Whirlpool Corporation announced plans to reduce its stake in its Indian subsidiary, Whirlpool of India Ltd, to approximately 20% by mid- to late 2025, triggering a notable slump in the company’s shares.
Earlier, in February 2024, Whirlpool Corporation had already sold 24% of its stake in Whirlpool India through a block deal, raising around $468 million. Despite the planned sell-down, Whirlpool Corporation is expected to remain the largest shareholder of the Indian arm, which it currently holds at 51%, as per the company’s earnings release shared on stock exchanges.
James Peters, Executive Vice President and President of Whirlpool Asia, stated in January 2025:
“As part of our fourth-quarter earnings release, we plan to reduce our ownership in Whirlpool India to around 20% by mid- to late 2025, through one or more market sales.”
Q2 FY26 Financial Performance
Whirlpool of India reported a 21.9% decline in consolidated net profit, posting ₹41.80 crore for the September quarter of FY26, compared to ₹53.53 crore in the same period last year.
Revenue from operations fell 3.83% to ₹1,647.27 crore, down from ₹1,712.99 crore in Q2 FY25. Total expenses also declined slightly by 2.33%, amounting to ₹1,649.51 crore. Including other income, total income for the quarter stood at ₹1,697.10 crore, marking a 3.7% decrease year-on-year.
The reduction in profit and revenue highlights the ongoing challenges faced by the consumer durables maker amid market adjustments and stake restructuring by its parent company, Whirlpool Corporation.