Analysts/Institutional Investor Meet/Con. Call Updates

August 12, 2026 The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Mumbai, Bandra Kurla Complex, Bandra East, Maharashtra - 400001 Mumbai, Maharashtra – 400051 Scrip Code: 500238 Symbol: WHIRLPOOL Dear Sir/Madam, Subject: Transcript of the Conference Call for Investors/ Analysts for Q1 FY 2026-27 This is further to our intimation letter dated July 30, 2026 wherein we had informed the schedule of the Conference Call, please find enclosed herewith a copy of the transcript of the Conference Call of the Company held on August 06, 2026. The same will also be uploaded on the Company’s website at https://corporate.whirlpool.in/financial-information/ Yours faithfully, For Whirlpool of India Limited Sweta Srivastava Company Secretary and Compliance Officer Plot No. 40, Sector 44, Gurugram, Haryana Encl: as above Whirlpool of India Limited Analyst Call August 06, 2026 M : M . N E – M D – ANAGEMENT R ARASIMHAN SWAR ANAGING IRECTOR W I L HIRLPOOL OF NDIA IMITED M . A J – C F O – R DITYA AIN HIEF INANCIAL FFICER W I L HIRLPOOL OF NDIA IMITED M . S S – C S – S WETA RIVASTAVA OMPANY ECRETARY W I L HIRLPOOL OF NDIA IMITED M : M . B K – A C L ODERATOR R HAVANI UMAWAT XIS APITAL IMITED Page 1 of 30 Whirlpool of India Limited August 06, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Analyst Call of Whirlpool of India Limited. We wish to inform you that all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Bhavani Kumawat from Axis Capital Limited. Thank you, and over to you, sir. Bhavani Kumawat: Thank you so much, Rayo. Good evening, everyone. On behalf of Axis Capital Limited, we welcome you all to Whirlpool of India Analyst Call for the first quarter FY27. From the management side, we have Mr. Narasimhan Eswar, Managing Director, Mr. Aditya Jain, Chief Financial Officer of the company, and Ms. Sweta Srivastava, Company Secretary joining the call. We thank Whirlpool of India to giving us the opportunity to host the call. And now, I would now like to hand over the floor to Ms. Sweta for his opening remarks, post which we'll open the floor for Q&A. Thank you, and over to you, ma'am. Sweta Srivastava: Thank you, Bhawani. Good evening, everyone. I would like to welcome you to the Q1 analyst call of financial year 2026-27 of Whirlpool of India Limited. Please note that the call is being recorded, and the audio call and transcripts will be available on the website of the company. Also, the presentation to be made by the Managing Director and Chief Financial Officer is available on the website of the company as well as the Stock Exchanges. Before we move forward, I would like to remind you of the cautionary statement that forms part of the presentation. During this call, certain forward-looking statements may be made. These forward-looking statements are based on certain expectations, assumptions, and other factors which may affect the business results. Please read the cautionary statement carefully, and the contents of this call should be interpreted accordingly. With that, I would now like to hand it over to Mr. Eswar. Narasimhan Eswar: Thank you, Sweta. Good afternoon, everyone. I'm Narasimhan Eswar, Managing Director of the company. I'd like to welcome you to this Analyst Call. Thanks very much to Axis Capital for making this happen. And thank you to all of you for taking out your time and joining us. Now, I'll start with the update. I will do the first two sections. If we go now to Slide 4 of the presentation deck, I will cover the business overview and the strategic imperatives, and Mr. Aditya Jain, Chief Financial Officer, will cover the financial performance. Could we go to the next Slide, please? So, if we go to Slide Number 6, the business overview. Let me start with the highlight of the quarter. Apologies for my voice, bit of cold flu. The first point really is that we've delivered a record revenue growth in this quarter. We've never done the revenue numbers we've done before in our history. Page 2 of 30 Whirlpool of India Limited August 06, 2026 We also delivered double-digit revenue growth. In terms of multi-brand outlet market share, which is where we compete with other people in offline, we continue to maintain our number two position in refrigerators and washers. So, we call it T2 in our internal language. Refrigerators and washers, we continue to maintain our number two position in volume market share in multi-brand outlets. We also continue to hold our number one position in direct cool refrigerators in multi-brand outlets for volume market share, and that has been the case for the last seven months. We have been able to complete our entire sell-in, sell-out, the phase phasing or that we had to do of the old refrigerators and the new refrigerators, that was completed this quarter, and that has also helped us in getting back some market shares, as I said last time. In front load washers, we had a triple-digit increase in market share, again, the same multi-brand outlet KPI, volume market share, and that business is doing very well for us. Same with air conditioners, where we delivered a 50-plus % revenue growth. Elica, we're very pleased to say, continues with a very strong performance. Revenue is up 26% and profits are up 22%. One thing in the quarter that did happen, partly expected, partly unexpected, was our margins were significantly impacted due to both the impacts of the war, basically in two areas: one is in anything that was influenced by crude oil, which obviously pricing went extremely high and continues to be quite high, and the second part of it was all the energy changes. Regulatory changes, which included energy changes and e-waste. Now, I'd already highlighted at the beginning of the year, calendar year, that energy changes would be a debilitating impact on this year's financials. Obviously, the war impact was on top of this, which we did not expect at the beginning of the financial year. And this, I presume, is true for the entire industry and probably the broader country as well. One critical thing is that in this business, the companies have not been able to recover the impact of the combined war and regulatory impact through pricing because of industry competitive dynamics, and that obviously impacts the numbers of margins. We have navigated the challenges on supply chain, which were extremely high in April, May, June, whether it was availability of LPG, or whether it was availability of oil-based products, whether it was availability of components and parts. There were a lot of challenges that happened because of this situation that we have in the Middle East. But we were able to, in fact, very proud to say, deliver record-breaking production numbers in our Faridabad plant, which makes all our, not all, most of our direct cool refrigerator business. And I just wanted to recognize the great work done by our team to do this in spite of some days not knowing whether you would have stocks for next day's production. So, we did not have any stoppage because of that, and we were able to deal with it. Lastly, I would say on net working capital as well, we lived up to our promise that we made. We have a net negative net working capital this quarter, and all the investments we made in the Page 3 of 30 Whirlpool of India Limited August 06, 2026 last quarter in air conditioners have been fully recovered, as you'll see later. Go to the next slide, please. Now, this is the standard slide that I always show you. On the top, basically, you have the quarters starting from October '24 now to April [Showing first 8,000 characters — download PDF for full document]