Whirlpool of India Ltd.

“Whirlpool India is a low-quality, slow-growing appliance distributor with a rented brand, collapsing returns on capital, and a disengaging parent that controls the IP while extracting royalties — the business has no durable competitive advantage, trades at 28-38x earnings with zero margin of safety, and faces a high probability of permanent capital impairment as the parent further reduces its stake or restructures the brand relationship; existing peers offer far superior growth, returns, and governance at similar or cheaper valuations.”