Whirlpool of India Ltd Company History

The Company was incorporated on July 19, and obtained the certificate

of commencement of business on August 9th. The company is engaged in

the manufacture of refrigerators deep freezers, compressors, electric

grade laminations cash registers, and scooters.

It was formed in collaboration with Kelvinator International

Corporation, U.S.A. for the manufacture of refrigerators, compressors

and allied products.

50,000 shares issued without payment is cash to foreign collaborators

and 3,00,000 shares issued to the public (otherwise than through a

prospectus), promoters, directors etc.

1,40,000 Bonus shares issued in prop. 2:5.

3,90,000 Bonus shares issued in prop. 1:1.

The Company established a factory for the manufacture of electrical

grade stampings in collaboration with Thermal Refrigeration Ltd., U.K.

4,90,000 Rights shares issued at par in prop. 1:2.

A modern tool room was established for the manufacture of tools,

dies, jigs and fixtures.

Another factory was established for the manufacture of electro

mechanical cash registers in collaboration with Gross Cash Registers

Ltd., U.K. (now Chubb Cash Ltd.).

In August/September, 2,80,000 shares offered for public subscription

(prem. Rs 2.50 per shares).

Aravalli Svachalit Vahan Ltd., a sick unit at Alwar (a centrally

notified backward area in Rajasthan) was merged with the Company with

effect from 26th May, 1982.

Industrial licence/letter of intent were received for the manufacture

of 12,000 nos. per annum of mopeds. A separate factory was to be built

for the manufacture of mopeds having an engine capacity upto 100 cc in

collaboration with Agrati-Carelli Spa, Milano, Italy.

High court of Rajasthan at Jaipur approved the Scheme of Amalgamation

of Aravalli Svachalit Vahan Ltd. with the Company on 14th May, and High

Court of Delhi approved the same on 26th May.

As per the Scheme of Amalgamation, 25,000 No. of equity shares of Rs

10 each of the company were allotted to the shareholders of Aravali

Svachalit Vahan Ltd., in the proportion 1 equity share of the Company

to every 40 shares of Aravalli Svachalit Vahan Ltd.

Expo Machinery Ltd., and Kelbex International Ltd. are wholly owned

subsidiaries of the Company. Sanskrit Investment Pvt., Ltd., and

Episilon Investment Pvt Ltd. ceased to be subsidiaries of the Company.

Another letter of intent was received for increasing the production

capacity of refrigerators from 2,00,000 to 5,00,000 nos. per annum. A

letter of intent was also received for the manufacture of washing

machines.

The Government of India extended for a period of 5 years, the

Company's collaboration agreement with White Consolidated Industries

Inc., U.S.A. for manufacture of compressors.

17,75,000 Bonus equity shares issued in prop. 1:1.

The Company issued 3,00,000-15% non-convertible debenture of Rs 100

each to Unit Trust of India on private placement basis.

The Company entered into a collaboration agreement with White

Consolidated Industries Inc., U.S.A., for the manufacture of washing

machines. The Government of India extended for a period of 5 years,

the company's collaboration agreement with White Consolidated

Industries Inc., U.S.A. for manufacture of compressors.

The Company issued 4,00,000-15% secured non-convertible debentures of

Rs 100 each to UTI, LIC, GIC and its subsidiaries and ICICI on private

placement basis.

The Company introduced a 300 litre 2-door refrigerator for the lower

and middle class consumers. A single speed (VIP-1) and 3-speed, kick

start (VIP-3) mopeds were introduced along with two new models of cash

registers.

The Company's R&D introduced two new models viz., Avanti auto gear

and Avanti-3 gear mopeds.

The Company proposed to implement 15 washing machines and microwave

oven projects.

The Company introduced the new Zannusi model refrigeration and

undertook modernisation of the manufacturing operations in the

refrigeration division. New models of mopeds were introduced during

the year.

The Company undertook to set up a project for the manufacture of

super enamelled copper wire.

During August-September, the Company offered 5,63,380-12.5% secured

redeemable partly convertible debentures of Rs 180 each for cash at par

on rights basis in the proportion 9 deb.: 50 No. of equity shares

held, to the shareholders except White Consolidated Industries (Inc.)

USA (WCI) (All were taken up).

The Company also issued 28,170 debentures to the employees/workmen of

the Company under the Employees Stock Option Scheme (only 6,525

debentures taken up). The unsubscribed portion of 21,645 debentures

was allowed to lapse Rs 80 of the face value of each debenture was to

be automatically and compulsorily converted into one equity shares of

Rs 10 each at a premium of Rs 70 per share on the expiry of 6 months

from the date of allotment of debentures.

The non-convertible portion of Rs 100 of the face value of each

debentures was to be redeemed at par on the expiry of 7 years from the

date of allotment of debentures.

The Company also issued 79,400 No. of equity shares of Rs 10 each at

a premium of Rs 70 per share to WCI so as to maintain their equity

holding at 11.83%. Only 76,495 shares had to be allotted to W.C.I. as

employees quota of covertible debentures was not fully taken up.

5,69,905 No. of equity shares allotted (prem. Rs 70) on conversion of

12.5% debentures as on 21.4.1990 to maintain their shareholding at

11.83%. In May, 41,96,400 bonus shares issued in prop. 1:1.

The operations were adversely affected due to lock-out for 45 days at

Faridabad and Ballabgarh plants.

Two sizes of microwave ovens were introduced.

The Company again had to declare a lock-out from 3rd October, which

lasted for about 75 days at both Faridabad and Ballabgarh plants when

an amicable settlement was arrived at with labour.

With the introduction of a state-of-the-art 310 Ltr. single door

refrigerator in the sterling range and with its proposed introduction

of a 310 Ltr. 2-door refrigerator, the Company hoped to do better in

the near future.

The Company succeeded in indigenisation of micro wave ovens to a

great extent. Production of international quality hermetic grade dual

coated winding wire commenced during the year.

During October-November, the Company offered 22,19,876-15% Secured

partly convertible debenture of Rs 170 each on Rights basis in the

proportion 1 deb.: 5 equity shares held. All rights debenture were

taken up. Another 1,10,994-15% debentures were also offered to the

employees on an equitable basis (only 3,900 debentures were taken up).

Part-A of Rs 100 of the face value of each debenture was to be

automatically and compulsorily converted into 2 equity shares of Rs 10

each at a premium of Rs 40 per share at the end of 6 months from the

date of allotment of debentures.

Part-B of Rs 70 of the face value of each debenture was to be

redeemed in three instalments of Rs 25, Rs 25 and Rs 20 each at the end

of 6th, 7th and 8th years respectively from the date of allotment of

debentures.

41,96,400 bonus shares issued in prop. 1:2. 44,67,552 No. of equity

shares allotted (prem. of Rs 40) on convertion of 15% debentures.

5,96,975 No. of equity shares allotted to White Consolidated Industries

Inc. foreign collaborators.

The Company entered into a tie up with Whirlpool Corporation, USA,

whereby Whirlpool contracted to purchase from white consolidated

Industries Inc., USA, erstwhile collaborators, their entire holding of

20,86,796 No. of equity shares of the company.

Expo Machinery Ltd., a wholly owned subsidiary were merged with the

company. Pursuant to scheme of amalgamation, 75,00,000 No. of equity

shares of the Company were allotted to the shareholders of erstwhile

Whirlpool Washing Machines Ltd. (WWML) in the ratio of one equity share

of the Company for every four equity shares of erstwhile WWML.

The R&D developed a New Sterling Supreme 165 L refrigerator with

improved aesthetic and a new freezer frame door was introduced.

1,41,00,000 shares allotted (Prem. Rs 187.16 per share) to Whirlpool

Mauritius Ltd., to acquire 51% of share capital.

The Whirlpool brand was launched in November, along with a new 310

ltr. refrigerator.

Three variants of 165 L and a new 220 L Direct Cool Refrigerators

were launched. The Pondicherry Washer Unit indroduced a re-styled

version of a fully Automatic Washing machine and a 3.5Kg. Twin-tub

machine under the Whirlpool brand.

The Company undertook a major project for the manufacture of CFC Free

No. Frost Refrigerators at Ranjangaon near Pune.

The name of the company was changed from Kelvinator of India Ltd. to

the Whirlpool of India Ltd.

The Company proposed to dispose off the compressor unit, plastic

division and Automotive plant to generate cash for the working capital

needs of the Company.

WoI is a wholly owned subsidiary of the US major, Whirlpool

Corporation.

Whirlpool entered into a joint venture with TVS (washing machines of

the TVS group) in 1990.

The company has also introduced a 310 litre capacity refrigerator

under the wing of Whirlpool brand, and another model based on the

non-CFC refrigerant.

WoI has one of the largest distribution networks in India. Presently

it has about 40 branches and 5,500 dealers located all over the

country.

WoI has signed an MoU with Intrinsic Automation System Pvt. Ltd.

(IASPL) for the hiving off its electronic cash register (ECR) division.

Whirlpool introduced its second voluntary retirement scheme in two

years which 1,500 employees availed themselves of between March and

December 1996.

Whirlpool launched a joint venture consumer finance company with

Apple Industries, the latter taking a 60 per cent stake.

The company is currently setting up a greenfield no-frost

refrigerator manufacturing facility in Ranjangaon, near Pune.

Whirlpool of India Ltd (WIL), a white goods manufacturer and

marketer, has announced the launch of three of its new washing machine

models for the domestic market.

Pondicherry based Whirlpool of India Ltd (WIL) is a 56.3% subsidiary

of the US$ 8 billion Whirlpool Corporation USA.

Whirlpool Financial India Private Ltd (WFI), a subsidiary of

Whirlpool Corporation, US, is to merge with Whirlpool of India Ltd.

The company has launched a `Kaizen' initiative to ensure regular and

continuous improvement in all areas of its activity.

Whirlpool India Limited, has launched a range of state of the art

non-CFC frost free refrigerators said to be for the first in India.

Crisil has assigned a P1 rating to the Rs.20 crore commercial paper

(CP) programme of Whirlpool of India Ltd (WOIL). The rating favours

the impending merger of Whirlpool Financial India Pvt Ltd (WFIL) into

WOIL and continued support from the parent company.

Whirlpool of India, the 51 per cent subsidiary of Whirlpool

Corporation of the US.

A P1 rating has been assigned to Rs 70-crore commercial paper issue

of Whirlpool India Limited (WIL).

KIL entered into just a strategic alliance with Whirlpool with the

object of manufacturing and marketing state-of-the-art home appliance

and simultaneously discounting all unrelated and non-core product

lines.

In September 1998, Whirlpool Financial India Private Ltd (WFIPL),

another group company of WC and a wholly-owned subsidiary of Whirlpool

Financial Mauritius Ltd (WFML) was merged with WIL.

Kelvinator of India used to manufacture refrigerators under the brand

name of Kelvinator under a licensing agreement with Swedish white goods

giant AB Electrolux which owned the brand internationally.

The company is one of the largest manufacturers of chloroflouro

carbons in the country, and it has consistently generated free cash and

incremental returns on capital year on year.

Whirlpool of India Ltd had being granted foreign collaboration

approval for the manufacturing of refrigerators.

The Company will launch a new air-conditioner series for the Indian

Market.

Crisil has assigned a `P1+' rating to the Rs 100 crore commercial

paper programme of the Company.

The Company has launched `Whitemagic' Hotwash - the only top loading

washing machine with a heater.

Raj Jain will take over as the new managing director of the company.

Whirlpool of India chairman and managing director Garrick D'silva has

been promoted as regional vice-president, Whirlpool Asia.

The Company offered a Voluntary Retirement Scheme to the employees of

its Refrigerator Division.

The Company has launched its fully automatic top-loading washing

machine, Whitemagic Hotwash, in the Kerala market.

The Company offered a Voluntary Retirement Scheme to its employees

and spent Rs. 12.66 Crores.

The Company has introduced a range of direct cool and frost-free

refrigerators in the Kerala market.

Whirlpool and Godrej filed a law suite with MRTPC against LG Electronics India Ltd of misrepresenting its capacity and volumes.

Launches new eight refrigerators in both frost-free and direct cool models.

Receives ISO 9001:2000 certification for its Design and Manufacturing of Direct Cool Refrigeration.

Whirlpool India forges alliance with Faber Heatcraft Industries Ltd

Whirlpool on May 17 launched new refrigerators in the 'ice magic' frost-free range'

Whirlpool has announced the launch of single-door frost-control refrigerators in the Kerala market

Whirlpool announces new scheme for Onam season

Launches new range of refrigerators and washing machines to improve its market share on October 25, 2004.

Delist from the Delhi Stock Exchange Association Ltd with effect from October 13, 2004

Faber India enters into distribution tie-up with Whirlpool

Ajay Devgan and wife Kajol have been signed on by Whirlpool appliances for their new commercial targeted at family audiences the couple's first major ad campaign together

Whirlpool launches `Genius' a direct cool refrigerator of 180 litres and premium range of window air-conditioners on April 25, 2005

Whirlpool India bags 'AAA' rating

Whirlpool unveils new Iceberg refrigerators

Whirlpool of India Ltd has appointed Mr Mahesh Krishna as Director of the Company w.e.f. October 27, 2006, liable to retire by rotation, who shall hold the office until the next meeting of the Company and shall be eligible for re-election.

Whirlpool joining hands with retailers for easier credit facilities

Whirlpool of India launches its Jet Chef and Family Chef Collection of Microwaves

Whirlpool launches 4 New Brand shops in Chandigarh

Whirlpool redefines washing machines in India, launches the all new 'Whirlpool ACE washstation'

Whirlpool corporation kicks off 100th year anniversary celebration

Launches new brandshops in Amritsar and Jalandhar

Best Consumer Durables Company...Dun & Bradstreet Corporate Awards 2010

Readers Digest Trusted Brand Gold Award (2009-2010) for Refrigerators and Washing Machines

Whirlpool Pondicherry Washer Facility Gold Award in Economic Times Frost & Sullivan Manufacturing Excellence Award - 2011

India is an important global mkt: Whirlpool

Whirlpool launches a new range of domestic products

Whirlpool ACE Washing Machine received the Silver Medal in the prestigious international Edison Awards for being the best new product in the Lifestyle and Social Impact category.

ICWAI....National Award for Excellence in Cost Management - Silver

Trophy for Export Excellence in EPO Service for outstanding export performance

Whirlpool India launches new Masterpiece Direct Cool Refrigerator

Whirlpool India wins 2nd prize for best technical paper in 29th Indian Value Engineering conference.

WOIL named Readers Digest Trusted Brand Gold Award 2013 for Refrigerators and Washers.

Whirlpool of India opens Whirlpool Haute Kitchen - its first exclusive Built-in experience centre in Jaipur

Protton World Series Refrigerator Range wins prestigious Designomics 2014 award

Neo I Chill Refrigerator and 360° Bloomwash Washer receive prestigious India Design Mark 2014

Whirlpool of India opens Whirlpool Haute Kitchen - its first exclusive Built-in experience centre in Bangalore

Protton World Series Refrigerator Range wins prestigious Designomics 2015 award

Whirlpool India recognized as one of the best employers- Aon Hewitt Best Employer- India

Whirlpool of India unveils its new range of 'Air purified in india'.

Whirlpool of india introduces Neofresh- The new range of frost free regrigerators based on intellifresh technology.

Whirlpool of india donated water purified to celebrate worls water day.

Whirlpool of india introducing the advance range of dishwarshers from whirlpool.

Whirlpool enters into strategic joint venture with Elica.

Whirlpool India to acquire 49% stake in Elica PB.

Whirlpool of India has been actively contributing to the social and economic development of local communities neighbouring its manufacturing eco-system

Whirlpool of India is offering an exhaustive range of washing machines with 5-star energy ratings.

Whirlpool of India has been recognised as one of India’s Best Workplaces in the consumer durables sector for 2020.

Whirlpool of India company launches Intellifresh Pro, India's most advanced Bottom Mount Refrigerator powered by advanced Adaptive Intelligence Technology.

Whirlpool Recognized As Superbrand 2019 For Its Refrigerators And Washing Machines Category

Whirlpool Of India Launches W Series Range Of Premium Quattro (4 Door) Refrigerators

Whirlpool Introduces The New Intellifresh Pro Bottom Mount Refrigerator With 10-In-1 Convertible Modes & Powered By Advanced Ai Technology

Whirlpool Celebrates Everyday Moments Of Extraordinary Care.