Is Whirlpool India overvalued or undervalued?

As of 19 September 2025, Whirlpool India's valuation grade has moved from attractive to fair. The company is currently fairly valued, with a PE ratio of 47.93, a Price to Book Value of 4.32, and an EV to EBITDA of 26.44. In comparison to its peers, Eureka Forbes has a higher PE ratio of 66.96, while IFB Industries is more attractively valued with a PE of 60.57, indicating that Whirlpool's valuation is in line with the industry but not particularly compelling.
Despite the fair valuation, Whirlpool India has faced significant stock underperformance, with a year-to-date return of -26.18% compared to the Sensex's 5.74%. This trend highlights a potential disconnect between market sentiment and the company's fundamental valuation metrics. Overall, while Whirlpool India is fairly valued based on its ratios and peer comparisons, the recent stock performance suggests a cautious outlook moving forward.