Ice Cream

Nuvama Institutional Equities believes HUL's ice cream business, given its lower margins and smaller scale, will likely be valued at a lower multiple than the core franchise.

FMCG major HUL has received shareholders' nod to demerge its ice cream business, which owns brands like Kwality Wall's, Cornetto and Magnum, into an independent listed entity. With this, Hindustan Unilever Ltd (HUL) has taken one step closer to its goal to demerge its ice cream business. The majority of its shareholders have voted in favour of the resolution over the "Scheme of Arrangement between Hindustan Unilever Limited, Kwality Wall's", the FMCG major said while sharing the scrutiniser's report. "The Resolution for approval of the Scheme of Arrangement amongst HUL, Kwality Wall's (India) Ltd and their respective shareholders, as set out in the Notice dated 7th July 2025, has been passed by the Members by requisite majority, pursuant to Section 230(6) of the Companies Act, 2013, through remote e-voting and e-voting at the Meeting," it said. HUL has called for a meeting of its shareholders as per the directions of the National Company Law Tribunal (NCLT). According to the repor

Magnum Ice Cream Company will acquire a 61.9 per cent stake in Kwality Wall's India post demerger from HUL, with an open offer to follow and existing licensing retained

The causes behind the rally are a window into the interconnected world of commodities, where seemingly unrelated factors collide

Frozen treats aren't just a dessert - they are a cooling ritual especially during the blistering heat of Indian summers from April through June

This agreement is between the family members, and the company is not a party to the agreement

The Indian ice cream market has grown four-fold in the last decade and is expected to reach Rs 45,000 crore in the next three years, according to data from the Indian Ice Cream Manufacturing Association (IICMA). Though seasonal in nature, it has witnessed huge growth helped by tailwinds such as rise in disposable incomes, changing consumer preferences, and expanding distribution channels. "India has seen a fourfold increase in ice cream consumption over the past ten years. In fact, this sector is projected to reach Rs 45,000 crore in the next 3 years and more than Rs 90,000 crore in the next 8 years," said the IICMA statement. Moreover, factors such as stability of prices for essential ingredients, such as milk solids and packaging materials, have enabled the ice cream manufacturers to maintain competitive pricing and enhance profitability. "Consumers are increasingly attracted to premium, health-oriented, and innovative flavours, leading brands to launch plant-based, low-sugar, an

Start-up NOTO Ice Cream on Thursday said it has raised Rs 15 crore in its latest funding round, led by Inflection Point Ventures (IPV), with participation from JITO and Lets Venture. The funds will be utilised for expanding into Tier-I and Tier-II cities, launching innovative flavours and formats for the summer, supporting marketing on food-tech aggregators and quick-commerce platforms, upgrading infrastructure, and boosting brand awareness through experiences, the company said in a statement. The brand, also backed by renowned personalities such as John Abraham, Rannvijay Singha, and Kunal Bahl, is currently operational in cities, including Mumbai, Delhi, Bangalore, Hyderabad, Chennai, and Pune. It is expanding into new markets such as Ahmedabad, Kolkata, and Lucknow. NOTO Ice Cream Co-Founder & CEO, Varun Sheth said," This funding fuels our expansion into Tier I and Tier II cities..." Inflection Point Ventures Co-Founder, Vinay Bansal said health-conscious consumers often ...

Board of directors approve demerger of its ice cream business

Milk and milk products were the biggest contributors to the company's revenue, with a share of 72.47 per cent

For the purpose of the proposed demerger, the board has also approved the incorporation of a wholly owned subsidiary

A new blend: Portfolio churn will help it strengthen core offerings in demand spaces

Softy ice cream mix in vanilla flavour is not a dairy product and will attract 18 per cent GST, Rajasthan bench of Authority of Advance Ruling has said. VRB Consumer Products Pvt Ltd had approached the AAR on the taxability of vanilla mix in powder form which will have 61.2 per cent sugar, 34 per cent milk solids (skimmed milk powder) and 4.8 per cent of other ingredients, including flavouring substances and salt. The Authority of Advance Ruling (AAR) observed that each ingredient has a specific role to make the soft serve smooth and creamy in texture. Further, it is also conclusive that not only that contents of the product, but also the processing done in the soft serve machine also play a vital role in giving smooth and creamy texture characteristic of soft serves. As per GST law, food preparations subjected to further processing for human consumption attract 18 per cent tax. Also preparations consisting of milk powder, sugar and any other added ingredients, powder for table crea

Dubbed the 'father of Tiramisu', Roberto 'Loli' Linguanotto, took his last breath on Sunday in Italy after battling an unspecified, long-time illness

A woman here has claimed she has found a centipede inside an ice-cream tub she ordered through an instant delivery app, said food safety officials, who have launched a probe into the matter. In a post on X on June 15, the woman, who identified herself as Deepa Devi, shared a picture showing the insect inside the ice-cream tub. "Finding an insect inside my Amul India ice cream was truly alarming. Quality control and food safety should never be compromised. FSSAI Publication have to take some legal action on such kind of incidents that are increasing in numbers day by day (sic)," she posted. The Noida food safety department has collected samples of the brand's ice-cream from the store of instant delivery company Blinkit's for testing, the officials said. "Sample has been taken and sent to the laboratory for testing. We are under process of registering the matter with regard violation of provisions of the Food Safety Act, 2006," Chief Food Safety Officer Akshay Goyal told PTI. He sa

Enjoying a cone of ice cream turned out to be a bitter experience for a Mumbai-based man as he was appalled to find a piece of flesh, apparently a severed human thumb, in the frozen dessert that he ordered online, police said on Thursday. The incident occurred on Wednesday afternoon, following which the man lodged a complaint with the police, they said. The complainant, Brendon Ferrao (26), is a doctor with an MBBS degree and is a resident of Malad area in the metropolis. "In his complaint, he said that he ordered a butterscotch ice-cream cone from Yummo company through an e-Commerce app. While consuming the ice cream after lunch, he found a piece of flesh with a nail in it," a police official said. The man, who is pursuing his post-graduate studies, then took up the matter with the ice cream company by complaining about it on its Instagram page. But since there was no proper response from the firm, the complainant put the piece of flesh in an ice bag and approached went to the ...

The customer sought Rs 10,000 as compensation and an additional Rs 7,500 in litigation expenses from Swiggy for its failure to deliver the ice cream and subsequent refusal of a refund

The stakes are high for Unilever. Once a focal point of growth with labels such as Magnum and Cornetto, the Anglo-Dutch company's ice cream unit has underperformed for the past five quarters

Hindustan Unilever on Tuesday said it is evaluating various options for the future of the ice cream business, following its parent Unilever's announcement of a strategic intent to separate the vertical globally. London-based Unilever announced that it intends to transform itself into a simpler, more focused and higher-performing company by separating the ice cream business, a move expected to result in a loss of 7,500 jobs. When asked about the possible impact of the move on the Indian business, the Indian subsidiary (HUL) of Unilever said it is evaluating various options. "As far as the Indian ice cream business is concerned, we are evaluating the various options in light of this announcement. We will discuss this with the HUL Board and Unilever management in the coming months. Once the approach is finalised, we will communicate further," said a HUL spokesperson in response to a query over the impact of Unilever's decision on the Indian business. Ice creams contributed 3 per cent

Court held crackle is not intended for direct consumption by users but as an industrial input