Buy Whirlpool of India, target price Rs 3020: Motilal Oswal

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Buy Whirlpool of India, target price Rs 3020:  Motilal Oswal


Motilal Oswal has buy call on with a target price of Rs 3020. The current market price of Whirlpool of India Ltd. is Rs 2464.9.

Whirlpool of India Ltd., incorporated in the year 1960, is a Large Cap company (having a market cap of Rs 31264.39 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 1493.98 Crore, down 6.60 % from last quarter Sales of Rs 1599.47 Crore and up 17.52 % from last year same quarter Sales of Rs 1271.24 Crore Company reported net profit after tax of Rs 64.37 Crore in latest quarter.

Investment Rationale
The brokerage likes Whirlpool as a strong franchise in the Indian Consumer Durables market. Though the competitive intensity remains high with the entry of domestic players like Lloyd and Voltbek, it expects the management to be aggressive in defending its market share. The company has an advantage given the work carried out on the distribution side over the past 4-5 years towards penetrating Tier II/III/IV towns and in rural India


Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of Dec 30, 2020, while FIIs held 3.4 per cent, DIIs 11.3 per cent and public and others 10.4 per cent.





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