Tag Archives: Whirlpool India

Whirlpool Reshapes Global Footprint: Reduces Stake in India, Halts Production in Argentina

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Whirlpool Corporation is recalibrating its international operations with two major moves in India and Argentina, signaling a shift in its global appliance strategy.

📉 Stake in Whirlpool India Drops to 40%

On November 27, Whirlpool Corporation announced it had reduced its ownership in Whirlpool of India Limited from 51% to approximately 40%. The change follows the sale of 14.26 million equity shares by its wholly owned subsidiary, Whirlpool Mauritius Limited, in an on-market transaction.

While Whirlpool retains a significant minority stake, the move suggests a strategic realignment in one of Asia’s fastest-growing appliance markets. Whirlpool India remains a key player in refrigeration, laundry, and kitchen appliances, with a strong retail and service network across the subcontinent.

🛑 Production Ceases at Argentina’s Pilar Laundry Plant

Just a day earlier, on November 26, Whirlpool Argentina announced it will cease manufacturing operations at its Pilar Laundry Plant. Opened in 2022 with a $52 million investment, the facility was designed to produce 300,000 high-capacity washing machines annually and aimed to become Argentina’s largest appliance exporter—primarily serving Latin American markets like Brazil.

Despite the shutdown, Whirlpool confirmed it will maintain its commercial and after-sales service operations in Argentina, ensuring continued availability of products, accessories, and spare parts. The company emphasized its long-standing presence in the country, where it has operated for over 35 years.

Whirlpool India shares plunge as parent plans to halve stake

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Whirlpool Corp said it would more than halve its stake in its Indian unit to about 20%, sending Whirlpool of India’s shares plunging an exchange-allowed maximum of 20% to a near ten-month low on Thursday.
The U.S.-listed home appliance maker, which currently has a 51% stake in the India unit, said it estimates net cash proceeds, opens new tab of $550 million to $600 million from the sale, which it expects to close by mid-to-late 2025.The company will remain Whirlpool of India’s largest shareholder, followed by a number of mutual funds with stakes of less than 10%.
Whirlpool Corp sold a 24% stake in the Indian unit for about $468 million last year and the latest sale comes as it aims to pay off a major chunk of its debt amid a major rejig of its global assets, including folding its European business into a new firm and selling its Middle Eastern and African businesses

Whirlpool India acquires 10% of Elica’s local subsidiary

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Elica announces, in a note, that it has signed an agreement that provides for “the sale to Whirlpool of India Limited” of 4.78% of the share capital of the Indian subsidiary Elica Pb Whirlpool Kitchen Appliances Private Limited (‘Elica Pb India’) together with the other Indian minority shareholders who are selling a further 4.78% stake. The agreement for the sale, the note states, was reached for approximately 8.2 million euros. “Upon completion of the transaction, Whirlpool of India Limited will hold approximately 96.81% of Elica PB India” while Elica SpA and the group of other Indian minority shareholders will remain shareholders of the Indian company with a stake of approximately 1.59% each. At the same time as the purchase of the stake, Elica Pb India will sign new licensing agreements for the use of the Elica brand in Indian territory.

Whirlpool India

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Whirlpool of India led the domestic appliance market in India with net sales of about 62 billion Indian rupees as of December 2022. It was closely followed by Crompton Greaves and Electronics Mart India at 58 and 54.5 billion rupees respectively. Both Crompton Greaves and Electronics Mart India are Indian companies.

Whirlpool of India

Whirlpool of India Limited is one of the leading manufacturers of major home appliances in India, headquartered in Gurugram. It is a subsidiary of the Whirlpool Corporation from USA. It has three manufacturing facilities in India, located in Faridabad, Pondicherry, and Pune. It primarily manufactures and sells refrigerators, washing machines, air conditioners, microwave, and other small appliances. Its main competitors in the major appliances segment are Korean electronics companies, Samsung, and LG. In the small appliances segment, it also faces competition from Indian manufacturers.

Refrigerator market in India

In 2022, LG was the leader in the Indian refrigerator market with more than 30 percent of the market share. Whirlpool ranked the third following Samsung. It was estimated that the market size of refrigerators was around 9.7 billion U.S. dollars during the same year. The prospect of this segment is of great potential in India, especially considering the increasingly hot summers due to global climate change

Whirlpool wants to sell 24% of the subsidiary listed in Bombay

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The parent company intends to move from 75 to 51% of Whirlpool of India which is suffering from competition from LG and other brands in the Indian market Whirlpool corporation has announced its intention to reduce its stake in Whirlpool of India, the publicly listed subsidiary created for the Indian market, from 75 to 51%. It is not yet known whether Whirlpool intends to place the shares on the stock exchange (where the stock fell 8% on the announcement) or sell them to one or more over-the-counter operators. The objective of the operation which will take place next year is to reduce Whirlpool’s overall debt and its capital base (a strategy which also explains the sale of Whirlpool EMEA to Arçelik ). The operation will start in 2024 because by the end of 2023 Whirlpool of India will have to repay a loan of 500 million to the parent company.
Despite the excellent performance of the Indian economy, Whirlpool of India (which recently purchased Elica’s assets in India) is suffering from intensified competition especially from LG and in the last quarter recorded a 23% drop in profits.

Whirlpool India

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Whirlpool of India Ltd reported a 10.6% drop in first-quarter profit on Monday, impacted by softer demand.
consolidated net profit for the three months ended June 30 fell to 748.8 million rupees ($9.05 million) from 837.3 million rupees a year earlier.

Revenue fell 2% to 20.39 billion rupees, hurting the company’s operating profit metrics.

Whirlpool India launched Microwave range with an in-built Air Fryer

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Whirlpool India today announced the launch of the all-new 29L Magicook Pro line of Convection Microwave Ovens with an integrated Air Fryer. The new lineup offers oil-free cooking, sanitization function and more. Additionally, the new Whirlpool microwave ovens offer a pre-programmed menu of over 300 foreign foods. All these features are said to enhance the consumer’s lifestyle without sacrificing their health and well-being.

The 29L Magicook Pro line of Convection Microwave Ovens comes in three variants with a price starting at Rs 18,900.

With unique in-built features like the air fryer to assure oil-free cooking, sanitization function that keeps bacteria at bay, and immunity booster menu for nutritious and delightful meals, the new range with its superior technology delivers an experience that will alter the way people cook. These high capacity microwave ovens were created with a strong customer insight based on shifting consumer attitudes and behaviours toward healthy living.Â