Whirlpool of India shares rally 19%, hit 52-week high today. Here's why

Appliances manufacturer Whirlpool of India Ltd saw its shares rallying 19 per cent in Thursday's trade after a Reuters report suggested German engineering group Robert Bosch is weighing a bid for US-based parent Whirlpool Corporation.

Bosch has been talking to potential advisers about the possibility of making an offer for Whirlpool, which has a market capitalisation of about $4.8 billion, one of the sources told Reuters. Besides, Bosch has been talking to potential advisers about the possibility of making an offer for Whirlpool, which has a market capitalisation of about $4.8 billion, sources told Reuters.

Following the development, shares of Whirlpool of India climbed 19.22 per cent to hit a 52-week high of Rs 2,190.05 on BSE. Whirlpool Mauritius held 51 per cent stake in Whirlpool of India as of March 31.

As far as the India arm is concerned, Whirlpool of India's Q4FY24 performance was decent, as it surpassed operating profit expectations and reported revenue that was largely in line with Street expectations.

Revenue for the March quarter grew 4 per cent YoY with Ebidta margin improving 200 basis points to 8.3 per cent, led by 400 bps increase in gross margin during the quarter. PAT adjusted for an exceptional loss surged 54 per cent, driven by an improved operating performance.

Nuvama expects Whirlpool to report 11 per cent revenue CAGR and 25 per cent operating profits CAGR over FY24-27E.