Whirlpool India , a 100% debt free company is a part of Whirlpool Corporation, the world’s #1 manufacturer and marketer of major home appliances. Whirlpool Corporation is an American multinational manufacturer and marketer of home appliances, headquartered in Benton Charter Township, Michigan, United States. The Fortune 500 company Whirlpool Corporation has annual revenue of approximately $21 billion, 92,000 employees, and more than 70 manufacturing and technology research centers around the world.
Whirlpool of India is a 75% subsidiary of the Whirlpool Corporation. Whirlpool entered India in the late 1980s as part of its global expansion strategy. It forayed into the market under a joint venture with TVS group and established the first Whirlpool manufacturing facility in Pondicherry for washing machine category. In 1995 Whirlpool acquired Kelvinator India Limited and marked an entry into the refrigerator market as well. The same year the company also saw acquisition of major shares in TVS joint venture and later in 1996, Kelvinator and TVS acquisitions were merged to create, Whirlpool of India Limited. This expanded the company’s portfolio in the Indian subcontinent to washing machines, refrigerator, microwave ovens and air conditioners.
The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Gladiator GarageWorks, Inglis, Estate, Brastemp, Bauknecht, Ignis, Indesit, and Consul. Whirlpool Corporation is the world’s largest home appliance maker.
Whirlpool India has a strong distribution presence, with a network of over 4000 dealers across ~150 towns. It plans to increase its reach in tier-2, 3, and 4 towns, which should help drive volumes from new customers. It is working on improving its distributor incentive structure to ensure that trade margins are in-line (currently lower) with other peers.
Company has cash and equivalents of about 1060cr as of march 2019 which puts it as a great advantage . Apart from the company does not have any debt where as the reserves stand at 200Cr Rs.