Whirlpool of India Ltd is a home appliance company that recorded a 20.55 percent decline in its net profit in the second quarter (Q2 FY26) as the low demand in the refrigerator business, coupled with stiff competition in pricing, affected the company business.

Whirlpool Corporation’s Indian subsidiary earned a profit of 413.3 million (around 4.7 million) during the quarter ending on September 30, 2025 as compared to 520.2 million during the same period of the previous year.

The outcomes indicate that the consumer durable market in India is still struggling with the issues of poor demand, notably due to the slowdown, the intense competition, and the pressure on prices, especially in the major product lines such as refrigerators.

Performance Overview on a Quarterly Basis

Based on the financial performance of the company

• Net profit: 413.3 million (20.55% decrease on previous year)

• Revenue: ₹16.47 billion (down 3.85% YoY)

• Quarter ended: September 30, 2025

This went down mainly because of the weak sales of refrigerators, as the customers were postponing discretionary spending due to increasing inflation rates and softening rural markets.

Aggressive discounts and promotions in the home appliance industry were also mentioned by the company as a factor that strained the margins and lowered profitability.

Key Segment Performance

1. Refrigerators:

The refrigerator product line, which is one of the pillar product lines of Whirlpool in India, experienced a significant slowdown caused by the slow pace of demand and competitive prices charged by its competitors.

The weakness under this category had a big influence on the overall performance of the company.

2. Washing machine and air conditioners:

The washing machine and the AC segment did not change significantly, but that was not enough to compensate for the loss of sales of the refrigerator.

3. Microwave Ovens and Kitchen Appliances:

Smaller home appliances continued to record steady growth, which was underpinned by urban consumers and e-commerce platforms, but took a lesser proportion of the total revenue.

Industry Background: The India Appliance Market has not been penetrated fully

Home appliances are a long-term growth opportunity in India, though they are weak in the short term.

Government of India (n.d.): According to the 2019-21 National Family Health Survey (NFHS):

• Indian households that possess a washing machine would be only 18 percent.

• There are households with less than 40 percent of those with refrigerators.

This information shows the enormous potential of the household appliances market in the country, particularly since the increasing disposable incomes, urbanization, and digital sources of financing keep its usage on the increase.

Price Pressure and Competitiveness

The home appliance industry in India has become so stiff with other competitors like LG, Samsung, Godrej Appliances, Voltas Beko, and Haier being aggressive in their promotions and discount offers.

Specifically, Whirlpool was hit in its performance due to:

• Refrigerator and washing machine price wars.

• Substantial expenditure on promotions in pre-festive sales.

• Stocks are contaminated as a result of the low demand in the rural areas.

Such cutthroat competition has ensured that old brands struggle to continue to make profits with their market share remaining constant.

Impact of Macroeconomic Factors and GST.

Analysts also suppose that the reduction in the Goods and Services Tax (GST) rate that will be undertaken by the Indian government on September 22, 2025, might help alleviate some of the pressure in the following quarters.

The new GST rates of selected appliances will:

• Reduced retail prices, boosting affordability.

• Increase the sales in the festive seasons especially Diwali and New Year offers.

• clearance of support inventory and enhanced cash flow among manufacturers.

This has led market analysts to predict a market recovery in Q3 FY26 due to the seasonal purchases and tax cuts.

Outlook of the Company: Festive quarter to recover

Industry observers and analysts are still skeptically optimistic that Whirlpool will have a bright future in the short run.

The company is likely to enjoy:

• Sale during festive seasons and the online discounts.

• Reduced costs of inputs because the costs of raw materials become stable.

• The improvement of consumer demand due to GST cuts.

Further, Whirlpool of India is allegedly pouring into product innovation, energy efficient, and optimization of its supply chain to recover the growth momentum in the coming quarters.

Expert Commentary

According to the market analysts, the performance during Q2 is a one-time soft performance and that the festive quarter (October- December) will be better.

The weak consumer sentiment and intense competition in the refrigerator markets weakened the sale of refrigerators. But due to GST reduction and the seasonal demand, the situation in the Q3 is positive, according to one market analyst in Mumbai that monitors consumer durables.

Conclusion

The fall in profit of Whirlpool of India in Q2 highlights the difficulty of the appliances industry in India such as retarded demand, price wars, and economic insecurity.

Nevertheless, GST relief, recovery in the festivals, and long-term growth potential of the household appliance industry put the company in a good position to recover in the second half of FY26.

With the ongoing modernization in India and increasing consumer spending, the medium- to long-term forecast of such a firm as Whirlpool is also good.

FAQs: Whirlpool of India Q2 Results.

Q1. What was the Q2 FY26 Whirlpool of India profit?

Its net profit stood at 413.3 million, which was reduced by 20.55 percent compared to the previous year, 520.2 million.

Q2. What is the cause of the decrease in profit with Whirlpool this quarter?

Margins were affected by weak demand for refrigerators, high price competition and promotion expenditure.

Q3. What percentage of revenue was decreased in Q2?

Revenue decreased by 3.85 percent in terms of year-on-year to 16.47 billion.

Q4. What is the prognosis of the forthcoming quarter?

It is projected that the demand will recover in the third quarter, aided by sales during the festive season and reduction of GST.

Q5. What is the size of the home appliance market potential in India?

In India, it is only 18 percent of households that have a washing machine, and under 40 percent have a refrigerator, which means that the growth potential is high.