With a record quarter in Whirlpool, the company did pretty well by the end of March 2016. Whirlpool has posted 11 percent top line, 36 percent operating profit growth and 23percent gain after tax growth.
Here’s what Sunil A D’ Souza reveals about the success of the company in the first innings of the year.
What led the company to top line and the bottom line performance?
Sunil revealed that they have been focusing on driving innovation, strengthening their products and keeping customers’ interest at the top. Strengthening their market policies keeping a focus on manufacturing and cost efficiencies what led to the growth of top and the bottom line.
What role does competition play in a company’s success and failure?
Speaking about the competition, Sunil said that India is a market poised for growth and being the world’s leading Appliance Company, they see India as an opportunity for growth. While the competition seems to intensify due to increase in the demand, Whirlpool manages to carve out their niche in this competitive scenario.
The company focuses on the assuring that they’ve got the consumer at the core and that they’re providing the features and advantages that add value to the customer.
What market share is the company cherishing presently?
Targeting double digit volume growth and share growth has greatly helped Whirlpool in achieving success all these years. While the company has gained some shares, they still believe there is a huge opportunity for them in the coming years.
What type of growth does the company expect due to the upcoming Monsoons and Seventh Pay commission in India?
Sunil says that last few years have been sluggish for the industry in the country and the industry has experienced a tough time as such. However, the last two quarters (December and March) gave a sigh of relief for the industry and companies saw some growth. The two primary reasons for this sudden growth are: macros holding out, and course heating rising up.
Though the company has earned a good profit in the urban areas due to increasing heat, rural demand is still under pressure. Further, expectations are high from the upcoming -government policies and budget. If these pick on well growth in at 7.5-8 percent, this would be good for the industry. However, Whirlpool is focusing on innovations and expanding its portfolio.
Sunil further adds that in their present portfolio, the company is looking at expansion on both mass to drive scale and premium to drive profitability and image. A combination of both these factors can help them deliver double digit volume with a good bottom line growth and shared growth.
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