Whirlpool of India Limited (WHIRLPOOL) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Whirlpool of India manufactures refrigerators, washing machines and air conditioners, and comes into this quarter on the back of record revenue but sharply compressed margins after war-led commodity costs and new e-waste and energy-regulation charges. The Q2 print will speak to whether double-digit revenue growth extended on a weak year-ago base, and whether April/May price increases narrowed the margin 'net under-recovery' the management flagged.

Whirlpool of India Limited Q2 Results Date and Time

Board meeting scheduled Monday, November 09, 2026, to approve un-audited standalone and consolidated results for Q2 and half-year ended September 30, 2026. The trading window remains closed from October 01, 2026 until 48 hours after results declaration, per the insider trading code.

Separately, the company's FY26 final dividend of Rs. 5.00 per share (total payout Rs. 63.44 Cr) was approved at the 65th AGM held September 9-10, 2026, with the record date fixed as Friday, August 28, 2026. This relates to FY 2025-26 and not the upcoming Q2 results.

What to expect from Whirlpool of India Limited's Q2 FY27 results

The Q2 print tests whether Whirlpool of India's double-digit revenue growth extended over the year's easiest base — standalone revenue of Rs. 1,502.15 Cr in Q2 FY26, which had declined 5.1% in JAS'25.

The cost line was set at war-premium levels through the quarter: Brent settled at $102.59/bbl on September 29, 2026 after a monthly gain of about 13% in September, the rupee touched 95.92/USD on September 15, and the incremental e-waste and Ref/Aircon energy-upcharge burden entered the quarter unresolved with the EPR certificate-price band still before the Delhi High Court.

On demand, white-goods industry volumes rose 12-15% YoY in the Onam-led first festive phase with value growth of 18-23%, while RAI's consumer-durables retail prints ran at about 4-7% YoY through July-September — so the mix of price versus volume in Whirlpool's own growth is a key test.

Management has declined to give FY27 margin guidance ('Any guidance I would absolutely not be able to give on margins') while pointing to profitability that 'will grow modestly', with Elica remaining the growth engine after Q1 FY27 revenue of +26% and PBT of +22%. The upcoming call is expected to cover the margin bridge, the volume-price split, any first-time quantification of the e-waste upcharge, and the promoter control-transaction overhang.

Key Things To Watch

Margin trajectory vs declined guidance: Management gave no FY27 margin guidance but flagged 2026-27 as a challenging year.

• Whether April/May price increases fully flowed through the July-September quarter as management projected, and whether the 'net under-recovery' narrows versus Q1 FY27's 4.6% standalone and 5.1% consolidated EBITDA margins (down 377 bps and 358 bps YoY)
• Any first-time quantification of the 'incremental E-waste + Ref/Aircon energy upgrade' upcharge previously deferred to the annual report
• Whether the long-run high single-digit operating-margin framing for the base business changes from the current open-ended guidance

Revenue growth and market share against a weak base: Q1 FY27 standalone revenue grew 11.4% and consolidated 12.1%, tracking above the high single-digit base case.

• Whether Q2 FY27 sustains double-digit growth against the weak base (Q2 FY26 standalone revenue fell 5.1% in JAS'25; base of Rs. 1,502.15 Cr)
• Whether the Q1 FY27 '++' combined refrigerator + washer MBO volume-share recovery holds, and whether top-load washer and no-frost refrigerator share declines reverse
• Timing of the 'double whammy' replacement-demand thesis from government stimulus and pent-up demand — management framed the window as 3-18 months

Elica growth trajectory: Elica delivered Q1 FY27 revenue growth of 26% and PBT growth of 22%.

• Whether the unanswered analyst question on 20%+ full-year Elica growth feasibility gets a response on the call
• Progress on the guidance to reinvest 'a couple of hundred basis points' of Elica margin into revenue growth over the next five to seven years while staying accretive to top line and bottom line

Regulatory costs: e-waste and energy ratings: The e-waste and energy-upcharge burden is the dominant regulatory overhang on margins.

• Update on e-waste resolution ('when and how it's going to get resolved') — the company has been accruing higher amounts for 18 months
• Energy-rating norms for refrigerators and ACs last changed January '26 and are next expected January '29, so no new norm change is due this quarter

Promoter control transaction and strategic execution: The promoter stake sale overhang and pending capitalization items frame the strategic discussion.

• Confirmation of capitalization of the Rs. 200 Cr premium-refrigerator CWIP (due 'next quarter' from the Q4 FY26 call, i.e., Q1 FY27) and the Luxuriem 4-door ramp from July in Pune
• Any quantification of the FY27 capex budget previously withheld (ongoing capex stated at around 100+ crore) and the AC own-plant vs 3PL decision