Whirlpool Mauritius, which controls the stake in the Indian unit, sold 14.25 million shares on Thursday at an average price of Rs 1,044.97 each
In a move to reduce its ownership in the Indian unit, American appliance manufacturer Whirlpool Corporation has offloaded 11.2 per cent stake in Whirlpool of India through bulk deals. Media reports noted that the company is working towards reducing its shareholding from 51 per cent to around 20 per cent.
Whirlpool Mauritius, which controls the stake in the Indian unit, has sold 14.25 million shares on Thursday at an average price of Rs 1,044.97 each. The reports added that the proceeds will be about Rs 1,490 crore.
The reports mentioned that mutual funds like Kotak Mahindra, HDFC and Franklin Templeton were among the buyers. ICICI Prudential Life Insurance, East Bridge Capital Master Fund also bought the stake. Post this, the parent entity will have less than 40 per cent stake in the Indian unit.
Whirlpool of India reported a 21.9 per cent year-on-year drop in consolidated net profit to Rs 42 crore for the quarter ended September 2025, as subdued refrigerator demand and higher ewaste provisions weighed on performance. The company had posted a net profit of Rs 53.5 crore in the same quarter last year.
Revenue from operations declined 3.8 per cent to Rs 1,647 crore from Rs 1,713 crore a year earlier, primarily due to sluggish refrigerator industry growth and competitive pricing pressures. Despite the profit decline, Whirlpool said its “Productivity for Growth” (P4G) programme helped improve gross margins by 50 basis points through cost efficiencies and productivity initiatives. The company said it continues to focus on premiumisation and executional excellence amid a weak macroeconomic backdrop ahead of the GST 2.0 rollout.
