Hindustan Unilever (HUL) informed that it has incorporated a wholly owned subsidiary (WOS) in the name of 'Kwality Wall's (India)' on 10 January 2025.
Earlier on 25 November 2024, HULs board approved the demerger of its ice-cream business into an independent listed entity and incorporation of a wholly owned subsidiary for the proposal. The firm also proposed that the shareholders of HUL will receive shares in the new entity in proportion to their shareholding in HUL, subject to necessary approvals and procedures.The diversified FMCG company incorporated WOS, Kwality Walls (India) (KWIL) with an initial share capital of Rs 5 crore divided into 5 crore equity shares of face value Re. 1 each.
KWIL has been incorporated with the main object of engaging in manufacture, marketing, distribution and sale of ice creams, frozen desserts (both dairy and non-dairy), frozen snacks, frozen vegetables and frozen processed food of all kinds.
Hindustan Unilever is India's largest fast moving consumer goods company. The company reported 3.86% decline in standalone net profit to Rs 2,612 crore on 1.94% increase in revenue from operations to Rs 15,319 crore in Q2 FY25 over Q2 FY24.
The scrip declined 0.29% to Rs 2,434.75 on the BSE.
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