Jefferies retains hold on Whirlpool of India, revises target price to Rs 1970
Hold Whirlpool of India Ltd. at a price target of Rs 1970.0 .
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 1393.46 crore, down -29.42% from last quarter sales of Rs 1974.20 crore and up 17.94 % from last year same quarter sales of Rs 1181.50 crore. The company has reported net profit after tax of Rs 124.83 crore in the latest quarter.
The brokerage said it likes Whirlpool's strong positioning, business levers and balance-sheet, it remains circumspect about underlying industry risks such as rising competition (new entrants, expansion by incumbents), weak demand and tight liquidity. Volatility in key commodities and rupee are monitorables, said Jefferies.