Kwality

India's per-capita ice cream consumption stands at approximately 1 to 1.6 litres per year, well below global averages of 2.5 to more than 15 litres in Western markets.

The royalty waiver under a new intellectual property agreement is aimed at supporting Kwality Walls India's investments and stabilisation efforts following the demerger

Management said there remains potential upside to the guidance, depending on the pace of approvals, registrations, and commercialisation across key international markets

Magnum Ice Cream Netherlands has completed the acquisition of a 61.9 per cent majority stake in Kwality Wall's (India) Ltd (KWIL), resulting in a change in the promoter classification. "On 30th March, 2026, the Incoming Promoter acquired the Sale Shares from the Outgoing Promoters in accordance with the SPA and other applicable laws," KWIL said in a regulatory filing. Pursuant to this transaction, the Incoming Promoter has acquired control over the company and is classified as a "promoter" of the company in accordance with the Listing Regulations, it added. Meanwhile, the outgoing promoters have been reclassified from the "promoter" category to the public category. This acquisition is done as per the Share Purchase Agreement (SPA) executed on June 25, 2025, which includes The Magnum Ice Cream Company Netherlands BV and Unilever PLC, among others. The "incoming Promoter (Magnum) agreed to acquire an aggregate of 145.44 crore equity shares of KWIL" representing 61.9 per cent of the

Kwality Wall's shares listed at a sharp discount on NSE and BSE, falling up to 30% from discovered price. Analysts flag margin pressure, seasonality risks, and valuation concerns

The company holds the number two spot in the ice cream market in India behind Amul and holds a 10 per cent market share in the category

On the National Stock Exchange (NSE), the stock listed at ₹29.8 per share, marking a discount of ₹10.4 or 25.8 per cent

The fast-moving consumer goods major HUL had set December 5, 2025, as the record date for the spin-off of its ice cream business (Kwality Wall's)

As per the registered agreement dated November 27, 2025, the company will pay a starting monthly rent of ₹89.5 lakh, supported by a security deposit of ₹2.6 cr

The brokerage's constructive view is backed by the recent goods and services tax (GST) cut on ice cream, a strong cold-chain and distribution network, and a premium brand portfolio

It has access to introduce Ben & Jerry's, Viennetta and Yasso brands in India

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.

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 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

The Enforcement Directorate on Friday said it seized Rs 1.3 crore in cash and "evidence" related to shell companies after it searched the former promoters of dairy major Kwality Ltd. as part of a Rs 1,400 crore alleged bank fraud linked money laundering case. Luxury cars and demat accounts valued at about Rs 6.5 crore have also been frozen under the provisions of the Prevention of Money Laundering Act (PMLA), it said in a statement. The federal agency raided 15 locations in Delhi-NCR on November 27 in the case covering the premises of promoters and directors of the erstwhile company like Sanjay Dhingra and Siddhant Gupta apart from some "shell" (paper) companies related to them. Kwality Ltd. has been liquidated and is now with new owners. The ED case stems from a September 2020 CBI FIR filed against the said promoters and Kwality Limited, which was engaged in the processing and trading of milk, ice creams and other dairy products. The CBI FIR alleged that the said erstwhile compan

Don't like chocolate? Not a fan of vanilla? Maybe you're into fruit-flavoured ones? No matter what you like, there is a taste for everyone.

Debt-ridden dairy firm Kwality on Thursday reported narrowing of its consolidated net loss to Rs 14.52 crore for the September 2020 quarter.

The CBI has registered the case against Kwality and its directors Sanjay Dhingra, Siddhant Gupta, Arun Srivastava, besides other unidentified persons

On November 2, the CoC had rejected Haldiram Snacks' Rs 142 crore resolution plan

Kwality has a total debt of around Rs 1,900 crore, which means that lenders would have to take a significant haircut