1960
- The Company was incorporated on July 19, and obtained the certificate of commencement of business on August 9th. The company is engaged in the manufacture of refrigerators deep freezers, compressors, electric grade laminations cash registers, and scooters.
- It was formed in collaboration with Kelvinator International Corporation, U.S.A. for the manufacture of refrigerators, compressors and allied products.
- 50,000 shares issued without payment is cash to foreign collaborators and 3,00,000 shares issued to the public (otherwise than through a prospectus), promoters, directors etc.
1971
- 1,40,000 Bonus shares issued in prop. 2:5.
1973
- 3,90,000 Bonus shares issued in prop. 1:1.
1974
- The Company established a factory for the manufacture of electrical grade stampings in collaboration with Thermal Refrigeration Ltd., U.K.
- The Company was incorporated on July 19, and obtained the certificate of commencement of business on August 9th. The company is engaged in the manufacture of refrigerators deep freezers, compressors, electric grade laminations cash registers, and scooters.
- It was formed in collaboration with Kelvinator International Corporation, U.S.A. for the manufacture of refrigerators, compressors and allied products.
- 50,000 shares issued without payment is cash to foreign collaborators and 3,00,000 shares issued to the public (otherwise than through a prospectus), promoters, directors etc.
1971
- 1,40,000 Bonus shares issued in prop. 2:5.
1973
- 3,90,000 Bonus shares issued in prop. 1:1.
1974
- The Company established a factory for the manufacture of electrical grade stampings in collaboration with Thermal Refrigeration Ltd., U.K.
- 4,90,000 Rights shares issued at par in prop. 1:2.
1975
- A modern tool room was established for the manufacture of tools, dies, jigs and fixtures.
1976
- Another factory was established for the manufacture of electro mechanical cash registers in collaboration with Gross Cash Registers Ltd., U.K. (now Chubb Cash Ltd.).
1980
- In August/September, 2,80,000 shares offered for public subscription (prem. Rs 2.50 per shares).
1982
- Aravalli Svachalit Vahan Ltd., a sick unit at Alwar (a centrally notified backward area in Rajasthan) was merged with the Company with effect from 26th May, 1982.
- Industrial licence/letter of intent were received for the manufacture of 12,000 nos. per annum of mopeds. A separate factory was to be built for the manufacture of mopeds having an engine capacity upto 100 cc in collaboration with Agrati-Carelli Spa, Milano, Italy.
- High court of Rajasthan at Jaipur approved the Scheme of Amalgamation of Aravalli Svachalit Vahan Ltd. with the Company on 14th May, and High Court of Delhi approved the same on 26th May.
- As per the Scheme of Amalgamation, 25,000 No. of equity shares of Rs 10 each of the company were allotted to the shareholders of Aravali Svachalit Vahan Ltd., in the proportion 1 equity share of the Company to every 40 shares of Aravalli Svachalit Vahan Ltd.
- Expo Machinery Ltd., and Kelbex International Ltd. are wholly owned subsidiaries of the Company. Sanskrit Investment Pvt., Ltd., and Episilon Investment Pvt Ltd. ceased to be subsidiaries of the Company.
1983
- Another letter of intent was received for increasing the production capacity of refrigerators from 2,00,000 to 5,00,000 nos. per annum.
A letter of intent was also received for the manufacture of washing machines.
- The Government of India extended for a period of 5 years, the Company's collaboration agreement with White Consolidated Industries Inc., U.S.A. for manufacture of compressors.
- 17,75,000 Bonus equity shares issued in prop. 1:1.
1984
- The Company issued 3,00,000-15% non-convertible debenture of Rs 100 each to Unit Trust of India on private placement basis.
1985
- The Company entered into a collaboration agreement with White Consolidated Industries Inc., U.S.A., for the manufacture of washing machines. The Government of India extended for a period of 5 years, the company's collaboration agreement with White Consolidated Industries Inc., U.S.A. for manufacture of compressors.
- The Company issued 4,00,000-15% secured non-convertible debentures of Rs 100 each to UTI, LIC, GIC and its subsidiaries and ICICI on private placement basis.
1986
- The Company introduced a 300 litre 2-door refrigerator for the lower and middle class consumers. A single speed (VIP-1) and 3-speed, kick start (VIP-3) mopeds were introduced along with two new models of cash registers.
- The Company's R&D introduced two new models viz., Avanti auto gear and Avanti-3 gear mopeds.
1987
- The Company proposed to implement 15 washing machines and microwave oven projects.
1989
- The Company introduced the new Zannusi model refrigeration and undertook modernisation of the manufacturing operations in the refrigeration division. New models of mopeds were introduced during the year.
- The Company undertook to set up a project for the manufacture of super enamelled copper wire.
- During August-September, the Company offered 5,63,380-12.5% secured redeemable partly convertible debentures of Rs 180 each for cash at par on rights basis in the proportion 9 deb.: 50 No. of equity shares held, to the shareholders except White Consolidated Industries (Inc.) USA (WCI) (All were taken up).
- The Company also issued 28,170 debentures to the employees/workmen of the Company under the Employees Stock Option Scheme (only 6,525 debentures taken up). The unsubscribed portion of 21,645 debentures was allowed to lapse Rs 80 of the face value of each debenture was to be automatically and compulsorily converted into one equity shares of Rs 10 each at a premium of Rs 70 per share on the expiry of 6 months from the date of allotment of debentures.
- The non-convertible portion of Rs 100 of the face value of each debentures was to be redeemed at par on the expiry of 7 years from the date of allotment of debentures.
- The Company also issued 79,400 No. of equity shares of Rs 10 each at a premium of Rs 70 per share to WCI so as to maintain their equity holding at 11.83%. Only 76,495 shares had to be allotted to W.C.I. as employees quota of covertible debentures was not fully taken up.
- 5,69,905 No. of equity shares allotted (prem. Rs 70) on conversion of 12.5% debentures as on 21.4.1990 to maintain their shareholding at 11.83%. In May, 41,96,400 bonus shares issued in prop. 1:1.
1990
- The operations were adversely affected due to lock-out for 45 days at Faridabad and Ballabgarh plants.
1975
- A modern tool room was established for the manufacture of tools, dies, jigs and fixtures.
1976
- Another factory was established for the manufacture of electro mechanical cash registers in collaboration with Gross Cash Registers Ltd., U.K. (now Chubb Cash Ltd.).
1980
- In August/September, 2,80,000 shares offered for public subscription (prem. Rs 2.50 per shares).
1982
- Aravalli Svachalit Vahan Ltd., a sick unit at Alwar (a centrally notified backward area in Rajasthan) was merged with the Company with effect from 26th May, 1982.
- Industrial licence/letter of intent were received for the manufacture of 12,000 nos. per annum of mopeds. A separate factory was to be built for the manufacture of mopeds having an engine capacity upto 100 cc in collaboration with Agrati-Carelli Spa, Milano, Italy.
- High court of Rajasthan at Jaipur approved the Scheme of Amalgamation of Aravalli Svachalit Vahan Ltd. with the Company on 14th May, and High Court of Delhi approved the same on 26th May.
- As per the Scheme of Amalgamation, 25,000 No. of equity shares of Rs 10 each of the company were allotted to the shareholders of Aravali Svachalit Vahan Ltd., in the proportion 1 equity share of the Company to every 40 shares of Aravalli Svachalit Vahan Ltd.
- Expo Machinery Ltd., and Kelbex International Ltd. are wholly owned subsidiaries of the Company. Sanskrit Investment Pvt., Ltd., and Episilon Investment Pvt Ltd. ceased to be subsidiaries of the Company.
1983
- Another letter of intent was received for increasing the production capacity of refrigerators from 2,00,000 to 5,00,000 nos. per annum.
A letter of intent was also received for the manufacture of washing machines.
- The Government of India extended for a period of 5 years, the Company's collaboration agreement with White Consolidated Industries Inc., U.S.A. for manufacture of compressors.
- 17,75,000 Bonus equity shares issued in prop. 1:1.
1984
- The Company issued 3,00,000-15% non-convertible debenture of Rs 100 each to Unit Trust of India on private placement basis.
1985
- The Company entered into a collaboration agreement with White Consolidated Industries Inc., U.S.A., for the manufacture of washing machines. The Government of India extended for a period of 5 years, the company's collaboration agreement with White Consolidated Industries Inc., U.S.A. for manufacture of compressors.
- The Company issued 4,00,000-15% secured non-convertible debentures of Rs 100 each to UTI, LIC, GIC and its subsidiaries and ICICI on private placement basis.
1986
- The Company introduced a 300 litre 2-door refrigerator for the lower and middle class consumers. A single speed (VIP-1) and 3-speed, kick start (VIP-3) mopeds were introduced along with two new models of cash registers.
- The Company's R&D introduced two new models viz., Avanti auto gear and Avanti-3 gear mopeds.
1987
- The Company proposed to implement 15 washing machines and microwave oven projects.
1989
- The Company introduced the new Zannusi model refrigeration and undertook modernisation of the manufacturing operations in the refrigeration division. New models of mopeds were introduced during the year.
- The Company undertook to set up a project for the manufacture of super enamelled copper wire.
- During August-September, the Company offered 5,63,380-12.5% secured redeemable partly convertible debentures of Rs 180 each for cash at par on rights basis in the proportion 9 deb.: 50 No. of equity shares held, to the shareholders except White Consolidated Industries (Inc.) USA (WCI) (All were taken up).
- The Company also issued 28,170 debentures to the employees/workmen of the Company under the Employees Stock Option Scheme (only 6,525 debentures taken up). The unsubscribed portion of 21,645 debentures was allowed to lapse Rs 80 of the face value of each debenture was to be automatically and compulsorily converted into one equity shares of Rs 10 each at a premium of Rs 70 per share on the expiry of 6 months from the date of allotment of debentures.
- The non-convertible portion of Rs 100 of the face value of each debentures was to be redeemed at par on the expiry of 7 years from the date of allotment of debentures.
- The Company also issued 79,400 No. of equity shares of Rs 10 each at a premium of Rs 70 per share to WCI so as to maintain their equity holding at 11.83%. Only 76,495 shares had to be allotted to W.C.I. as employees quota of covertible debentures was not fully taken up.
- 5,69,905 No. of equity shares allotted (prem. Rs 70) on conversion of 12.5% debentures as on 21.4.1990 to maintain their shareholding at 11.83%. In May, 41,96,400 bonus shares issued in prop. 1:1.
1990
- The operations were adversely affected due to lock-out for 45 days at Faridabad and Ballabgarh plants.
- Two sizes of microwave ovens were introduced.
1991
- The Company again had to declare a lock-out from 3rd October, which lasted for about 75 days at both Faridabad and Ballabgarh plants when an amicable settlement was arrived at with labour.
- With the introduction of a state-of-the-art 310 Ltr. single door refrigerator in the sterling range and with its proposed introduction of a 310 Ltr. 2-door refrigerator, the Company hoped to do better in the near future.
- The Company succeeded in indigenisation of micro wave ovens to a great extent. Production of international quality hermetic grade dual coated winding wire commenced during the year.
1992
- During October-November, the Company offered 22,19,876-15% Secured partly convertible debenture of Rs 170 each on Rights basis in the proportion 1 deb.: 5 equity shares held. All rights debenture were taken up. Another 1,10,994-15% debentures were also offered to the employees on an equitable basis (only 3,900 debentures were taken up).
- Part-A of Rs 100 of the face value of each debenture was to be automatically and compulsorily converted into 2 equity shares of Rs 10 each at a premium of Rs 40 per share at the end of 6 months from the date of allotment of debentures.
- Part-B of Rs 70 of the face value of each debenture was to be redeemed in three instalments of Rs 25, Rs 25 and Rs 20 each at the end of 6th, 7th and 8th years respectively from the date of allotment of debentures.
- 41,96,400 bonus shares issued in prop. 1:2. 44,67,552 No. of equity shares allotted (prem. of Rs 40) on convertion of 15% debentures. 5,96,975 No. of equity shares allotted to White Consolidated Industries Inc. foreign collaborators.
1993
- The Company entered into a tie up with Whirlpool Corporation, USA, whereby Whirlpool contracted to purchase from white consolidated Industries Inc., USA, erstwhile collaborators, their entire holding of 20,86,796 No. of equity shares of the company.
- Expo Machinery Ltd., a wholly owned subsidiary were merged with the company. Pursuant to scheme of amalgamation, 75,00,000 No. of equity shares of the Company were allotted to the shareholders of erstwhile Whirlpool Washing Machines Ltd. (WWML) in the ratio of one equity share of the Company for every four equity shares of erstwhile WWML.
1994
- The R&D developed a New Sterling Supreme 165 L refrigerator with improved aesthetic and a new freezer frame door was introduced.
1991
- The Company again had to declare a lock-out from 3rd October, which lasted for about 75 days at both Faridabad and Ballabgarh plants when an amicable settlement was arrived at with labour.
- With the introduction of a state-of-the-art 310 Ltr. single door refrigerator in the sterling range and with its proposed introduction of a 310 Ltr. 2-door refrigerator, the Company hoped to do better in the near future.
- The Company succeeded in indigenisation of micro wave ovens to a great extent. Production of international quality hermetic grade dual coated winding wire commenced during the year.
1992
- During October-November, the Company offered 22,19,876-15% Secured partly convertible debenture of Rs 170 each on Rights basis in the proportion 1 deb.: 5 equity shares held. All rights debenture were taken up. Another 1,10,994-15% debentures were also offered to the employees on an equitable basis (only 3,900 debentures were taken up).
- Part-A of Rs 100 of the face value of each debenture was to be automatically and compulsorily converted into 2 equity shares of Rs 10 each at a premium of Rs 40 per share at the end of 6 months from the date of allotment of debentures.
- Part-B of Rs 70 of the face value of each debenture was to be redeemed in three instalments of Rs 25, Rs 25 and Rs 20 each at the end of 6th, 7th and 8th years respectively from the date of allotment of debentures.
- 41,96,400 bonus shares issued in prop. 1:2. 44,67,552 No. of equity shares allotted (prem. of Rs 40) on convertion of 15% debentures. 5,96,975 No. of equity shares allotted to White Consolidated Industries Inc. foreign collaborators.
1993
- The Company entered into a tie up with Whirlpool Corporation, USA, whereby Whirlpool contracted to purchase from white consolidated Industries Inc., USA, erstwhile collaborators, their entire holding of 20,86,796 No. of equity shares of the company.
- Expo Machinery Ltd., a wholly owned subsidiary were merged with the company. Pursuant to scheme of amalgamation, 75,00,000 No. of equity shares of the Company were allotted to the shareholders of erstwhile Whirlpool Washing Machines Ltd. (WWML) in the ratio of one equity share of the Company for every four equity shares of erstwhile WWML.
1994
- The R&D developed a New Sterling Supreme 165 L refrigerator with improved aesthetic and a new freezer frame door was introduced.
- 1,41,00,000 shares allotted (Prem. Rs 187.16 per share) to Whirlpool Mauritius Ltd., to acquire 51% of share capital.
1995
- The Whirlpool brand was launched in November, along with a new 310 ltr. refrigerator.
1996
- Three variants of 165 L and a new 220 L Direct Cool Refrigerators were launched. The Pondicherry Washer Unit indroduced a re-styled version of a fully Automatic Washing machine and a 3.5Kg. Twin-tub machine under the Whirlpool brand.
- The Company undertook a major project for the manufacture of CFC Free No. Frost Refrigerators at Ranjangaon near Pune.
- The name of the company was changed from Kelvinator of India Ltd. to the Whirlpool of India Ltd.
- The Company proposed to dispose off the compressor unit, plastic division and Automotive plant to generate cash for the working capital needs of the Company.
1997
- WoI is a wholly owned subsidiary of the US major, Whirlpool Corporation.
- Whirlpool entered into a joint venture with TVS (washing machines of the TVS group) in 1990.
- The company has also introduced a 310 litre capacity refrigerator under the wing of Whirlpool brand, and another model based on the non-CFC refrigerant.
- WoI has one of the largest distribution networks in India. Presently it has about 40 branches and 5,500 dealers located all over the country.
- WoI has signed an MoU with Intrinsic Automation System Pvt. Ltd. (IASPL) for the hiving off its electronic cash register (ECR) division.
- Whirlpool introduced its second voluntary retirement scheme in two years which 1,500 employees availed themselves of between March and December 1996.
- Whirlpool launched a joint venture consumer finance company with Apple Industries, the latter taking a 60 per cent stake.
- The company is currently setting up a greenfield no-frost refrigerator manufacturing facility in Ranjangaon, near Pune.
- Whirlpool of India Ltd (WIL), a white goods manufacturer and marketer, has announced the launch of three of its new washing machine models for the domestic market.
- Pondicherry based Whirlpool of India Ltd (WIL) is a 56.3% subsidiary of the US$ 8 billion Whirlpool Corporation USA.
1998
- Whirlpool Financial India Private Ltd (WFI), a subsidiary of Whirlpool Corporation, US, is to merge with Whirlpool of India Ltd.
- The company has launched a `Kaizen' initiative to ensure regular and continuous improvement in all areas of its activity.
- Whirlpool India Limited, has launched a range of state of the art non-CFC frost free refrigerators said to be for the first in India.
- Crisil has assigned a P1 rating to the Rs.20 crore commercial paper (CP) programme of Whirlpool of India Ltd (WOIL). The rating favours the impending merger of Whirlpool Financial India Pvt Ltd (WFIL) into WOIL and continued support from the parent company.
- Whirlpool of India, the 51 per cent subsidiary of Whirlpool Corporation of the US.
- A P1 rating has been assigned to Rs 70-crore commercial paper issue of Whirlpool India Limited (WIL).
1999
- KIL entered into just a strategic alliance with Whirlpool with the object of manufacturing and marketing state-of-the-art home appliance and simultaneously discounting all unrelated and non-core product lines.
- In September 1998, Whirlpool Financial India Private Ltd (WFIPL), another group company of WC and a wholly-owned subsidiary of Whirlpool Financial Mauritius Ltd (WFML) was merged with WIL.
- Kelvinator of India used to manufacture refrigerators under the brand name of Kelvinator under a licensing agreement with Swedish white goods giant AB Electrolux which owned the brand internationally.
- The company is one of the largest manufacturers of chloroflouro carbons in the country, and it has consistently generated free cash and incremental returns on capital year on year.
2000
- Whirlpool of India Ltd had being granted foreign collaboration approval for the manufacturing of refrigerators.
- The Company will launch a new air-conditioner series for the Indian Market.
- Crisil has assigned a `P1+' rating to the Rs 100 crore commercial paper programme of the Company.
- The Company has launched `Whitemagic' Hotwash - the only top loading washing machine with a heater.
- Raj Jain will take over as the new managing director of the company.
- Whirlpool of India chairman and managing director Garrick D'silva has been promoted as regional vice-president, Whirlpool Asia.
- The Company offered a Voluntary Retirement Scheme to the employees of its Refrigerator Division.
- The Company has launched its fully automatic top-loading washing machine, Whitemagic Hotwash, in the Kerala market.
2001
- The Company offered a Voluntary Retirement Scheme to its employees and spent Rs. 12.66 Crores.
- The Company has introduced a range of direct cool and frost-free refrigerators in the Kerala market.
2002
-Whirlpool and Godrej filed a law suite with MRTPC against LG Electronics India Ltd of misrepresenting its capacity and volumes.
-Launches new eight refrigerators in both frost-free and direct cool models.
2003
-Receives ISO 9001:2000 certification for its Design and Manufacturing of Direct Cool Refrigeration.
2004
-Whirlpool India forges alliance with Faber Heatcraft Industries Ltd
-Whirlpool on May 17 launched new refrigerators in the 'ice magic' frost-free range'
-Whirlpool has announced the launch of single-door frost-control refrigerators in the Kerala market
-Whirlpool announces new scheme for Onam season
-Launches new range of refrigerators and washing machines to improve its market share on October 25, 2004.
-Delist from the Delhi Stock Exchange Association Ltd with effect from October 13, 2004
-Faber India enters into distribution tie-up with Whirlpool
2005
-Ajay Devgan and wife Kajol have been signed on by Whirlpool appliances for their new commercial targeted at family audiences the couple's first major ad campaign together
-Whirlpool launches `Genius' a direct cool refrigerator of 180 litres and premium range of window air-conditioners on April 25, 2005
-Whirlpool India bags 'AAA' rating
-Whirlpool unveils new Iceberg refrigerators
2006
-Whirlpool of India Ltd has appointed Mr Mahesh Krishna as Director of the Company w.e.f. October 27, 2006, liable to retire by rotation, who shall hold the office until the next meeting of the Company and shall be eligible for re-election.
2007
-Whirlpool joining hands with retailers for easier credit facilities
2010
-Whirlpool of India launches its Jet Chef and Family Chef Collection of Microwaves
-Whirlpool launches 4 New Brand shops in Chandigarh
-Whirlpool redefines washing machines in India, launches the all new 'Whirlpool ACE washstation'
-Whirlpool corporation kicks off 100th year anniversary celebration
-Launches new brandshops in Amritsar and Jalandhar
-Best Consumer Durables Company...Dun & Bradstreet Corporate Awards
1995
- The Whirlpool brand was launched in November, along with a new 310 ltr. refrigerator.
1996
- Three variants of 165 L and a new 220 L Direct Cool Refrigerators were launched. The Pondicherry Washer Unit indroduced a re-styled version of a fully Automatic Washing machine and a 3.5Kg. Twin-tub machine under the Whirlpool brand.
- The Company undertook a major project for the manufacture of CFC Free No. Frost Refrigerators at Ranjangaon near Pune.
- The name of the company was changed from Kelvinator of India Ltd. to the Whirlpool of India Ltd.
- The Company proposed to dispose off the compressor unit, plastic division and Automotive plant to generate cash for the working capital needs of the Company.
1997
- WoI is a wholly owned subsidiary of the US major, Whirlpool Corporation.
- Whirlpool entered into a joint venture with TVS (washing machines of the TVS group) in 1990.
- The company has also introduced a 310 litre capacity refrigerator under the wing of Whirlpool brand, and another model based on the non-CFC refrigerant.
- WoI has one of the largest distribution networks in India. Presently it has about 40 branches and 5,500 dealers located all over the country.
- WoI has signed an MoU with Intrinsic Automation System Pvt. Ltd. (IASPL) for the hiving off its electronic cash register (ECR) division.
- Whirlpool introduced its second voluntary retirement scheme in two years which 1,500 employees availed themselves of between March and December 1996.
- Whirlpool launched a joint venture consumer finance company with Apple Industries, the latter taking a 60 per cent stake.
- The company is currently setting up a greenfield no-frost refrigerator manufacturing facility in Ranjangaon, near Pune.
- Whirlpool of India Ltd (WIL), a white goods manufacturer and marketer, has announced the launch of three of its new washing machine models for the domestic market.
- Pondicherry based Whirlpool of India Ltd (WIL) is a 56.3% subsidiary of the US$ 8 billion Whirlpool Corporation USA.
1998
- Whirlpool Financial India Private Ltd (WFI), a subsidiary of Whirlpool Corporation, US, is to merge with Whirlpool of India Ltd.
- The company has launched a `Kaizen' initiative to ensure regular and continuous improvement in all areas of its activity.
- Whirlpool India Limited, has launched a range of state of the art non-CFC frost free refrigerators said to be for the first in India.
- Crisil has assigned a P1 rating to the Rs.20 crore commercial paper (CP) programme of Whirlpool of India Ltd (WOIL). The rating favours the impending merger of Whirlpool Financial India Pvt Ltd (WFIL) into WOIL and continued support from the parent company.
- Whirlpool of India, the 51 per cent subsidiary of Whirlpool Corporation of the US.
- A P1 rating has been assigned to Rs 70-crore commercial paper issue of Whirlpool India Limited (WIL).
1999
- KIL entered into just a strategic alliance with Whirlpool with the object of manufacturing and marketing state-of-the-art home appliance and simultaneously discounting all unrelated and non-core product lines.
- In September 1998, Whirlpool Financial India Private Ltd (WFIPL), another group company of WC and a wholly-owned subsidiary of Whirlpool Financial Mauritius Ltd (WFML) was merged with WIL.
- Kelvinator of India used to manufacture refrigerators under the brand name of Kelvinator under a licensing agreement with Swedish white goods giant AB Electrolux which owned the brand internationally.
- The company is one of the largest manufacturers of chloroflouro carbons in the country, and it has consistently generated free cash and incremental returns on capital year on year.
2000
- Whirlpool of India Ltd had being granted foreign collaboration approval for the manufacturing of refrigerators.
- The Company will launch a new air-conditioner series for the Indian Market.
- Crisil has assigned a `P1+' rating to the Rs 100 crore commercial paper programme of the Company.
- The Company has launched `Whitemagic' Hotwash - the only top loading washing machine with a heater.
- Raj Jain will take over as the new managing director of the company.
- Whirlpool of India chairman and managing director Garrick D'silva has been promoted as regional vice-president, Whirlpool Asia.
- The Company offered a Voluntary Retirement Scheme to the employees of its Refrigerator Division.
- The Company has launched its fully automatic top-loading washing machine, Whitemagic Hotwash, in the Kerala market.
2001
- The Company offered a Voluntary Retirement Scheme to its employees and spent Rs. 12.66 Crores.
- The Company has introduced a range of direct cool and frost-free refrigerators in the Kerala market.
2002
-Whirlpool and Godrej filed a law suite with MRTPC against LG Electronics India Ltd of misrepresenting its capacity and volumes.
-Launches new eight refrigerators in both frost-free and direct cool models.
2003
-Receives ISO 9001:2000 certification for its Design and Manufacturing of Direct Cool Refrigeration.
2004
-Whirlpool India forges alliance with Faber Heatcraft Industries Ltd
-Whirlpool on May 17 launched new refrigerators in the 'ice magic' frost-free range'
-Whirlpool has announced the launch of single-door frost-control refrigerators in the Kerala market
-Whirlpool announces new scheme for Onam season
-Launches new range of refrigerators and washing machines to improve its market share on October 25, 2004.
-Delist from the Delhi Stock Exchange Association Ltd with effect from October 13, 2004
-Faber India enters into distribution tie-up with Whirlpool
2005
-Ajay Devgan and wife Kajol have been signed on by Whirlpool appliances for their new commercial targeted at family audiences the couple's first major ad campaign together
-Whirlpool launches `Genius' a direct cool refrigerator of 180 litres and premium range of window air-conditioners on April 25, 2005
-Whirlpool India bags 'AAA' rating
-Whirlpool unveils new Iceberg refrigerators
2006
-Whirlpool of India Ltd has appointed Mr Mahesh Krishna as Director of the Company w.e.f. October 27, 2006, liable to retire by rotation, who shall hold the office until the next meeting of the Company and shall be eligible for re-election.
2007
-Whirlpool joining hands with retailers for easier credit facilities
2010
-Whirlpool of India launches its Jet Chef and Family Chef Collection of Microwaves
-Whirlpool launches 4 New Brand shops in Chandigarh
-Whirlpool redefines washing machines in India, launches the all new 'Whirlpool ACE washstation'
-Whirlpool corporation kicks off 100th year anniversary celebration
-Launches new brandshops in Amritsar and Jalandhar
-Best Consumer Durables Company...Dun & Bradstreet Corporate Awards
2010
-Readers Digest Trusted Brand Gold Award (2009-2010) for Refrigerators and Washing Machines
2011
-Whirlpool Pondicherry Washer Facility Gold Award in Economic Times Frost & Sullivan Manufacturing Excellence Award - 2011
-India is an important global mkt: Whirlpool
2012
-Whirlpool launches a new range of domestic products
-Whirlpool ACE Washing Machine received the Silver Medal in the prestigious international Edison Awards for being the best new product in the Lifestyle and Social Impact category.
-ICWAI....National Award for Excellence in Cost Management - Silver
-Trophy for Export Excellence in EPO Service for outstanding export performance
-Readers Digest Trusted Brand Gold Award (2009-2010) for Refrigerators and Washing Machines
2011
-Whirlpool Pondicherry Washer Facility Gold Award in Economic Times Frost & Sullivan Manufacturing Excellence Award - 2011
-India is an important global mkt: Whirlpool
2012
-Whirlpool launches a new range of domestic products
-Whirlpool ACE Washing Machine received the Silver Medal in the prestigious international Edison Awards for being the best new product in the Lifestyle and Social Impact category.
-ICWAI....National Award for Excellence in Cost Management - Silver
-Trophy for Export Excellence in EPO Service for outstanding export performance
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Company Background - Whirlpool of India.
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Industry Name
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Domestic
Appliances - Others
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House Name
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MNC
Associate
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Collaborative Country Name
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N.A.
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Joint Sector Name
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N.A.
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Year Of Incorporation
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1960
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Year Of Commercial Production
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N.A.
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Regd. Office
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Address
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Plot
No. A-4, MIDC,, Ranjangaon,
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District
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Pune
District
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State
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Maharashtra
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Pin Code
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412220
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Tel. No.
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02138-660100
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Fax No.
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02138-232376
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Auditors
S R Batliboi & Co. |
Company Status
N.A. |
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Registrars
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Name Link Intime India Pvt.
Ltd.
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Address 44, Community Center,
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Tel. No. : 011-41410592, 41410593,
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NEW DELHI: Microsec Capital has given a 'BUY' call on Whirlpool of India Ltd with a 12-month target price of Rs 208, which represents an upside of nearly 20 per cent from Thursday's closing price of Rs 174.20.
Whirlpool of India is a subsidiary of the world's largest consumer durables company Whirlpool Corporation, USA. The parent company is headquartered at Michigan, USA, having presence over 170 countries and manufacturing operations in 13 countries with 11 major brand names such as Whirlpool, KitchenAid, Roper, Estate, Bauknecht, Laden and Ignis.
Diversified business model, focus on innovation and productivity improvement coupled with control on operational efficiencies, and factors like rural demand, increase in disposable income and rapid urbanization driving demand for home appliances bode well for Whirlpool India.
Microsec Capital lists out five reasons why the stock is a long-term buy:
Diversification of products in a single segment:
The company has diversified into a variety of products under a single segment named 'home appliances' like refrigerators, washing machines, air conditioners, microwave ovens and other built in appliances.
It derives 59-60 per cent of revenue from refrigerators, 20-22 per cent from washing machines, 10-11 per cent from air conditioners, 3 per cent from microwave ovens, 5 per cent from consumer services and 2 per cent from others.
Recently, the company launched new, innovative and intuitive products in 70% of its portfolio which would be valued for performance, design and differentiated features.
Focus on innovation and productivity improvement:
Whirlpool India, which has a share of 20 per cent in the Indian home appliances market pegged at around Rs 35,000 crore or 15 million appliances, expects to improve market share by continuous launching of new products and re-engineering product design and components.
The company's raw material cost, which accounts for 55-60 per cent of the total cost, is focusing on improving cost efficiencies in the wake of demand. Also, the company which imports 27-30 per cent of raw materials is now increasing domestic sourcing to save itself from rupee depreciation.
Microsec believes that these measures like delivering higher rate of productivity along with cost control is expected to help the company realize better margins.
Rural demand, increase in disposable income and rapid urbanization:
Rural demand, increase in disposable income and rapid urbanization have always been the major factors for driving demand of home appliances. With penetration of refrigerators and washing machines low in rural areas, the company is ready to tap the opportunity.
In the rural market, the company is focusing on basic products and in urban market it is focusing on launching new products in the premium and super premium range.
Debt-free company; increasing free cash flows:
Microsec believes that Whirlpool India can leverage on its debt-free status to improve net profit margins in the coming years also. The company generates healthy cash flows. Its cash balance has gone up from INR86cr in FY12 to Rs 155cr in FY13. Hence, healthy cash flows leave much scope for the company to consider dividend payments going ahead.
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