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Wall's (India) LimitedMain BoardEquity2025-04-012026-03-312026-05-202026-05-16INRMillionsQuarterlyFourth quarterSingle segmentIce-cream2026-05-2014:35:002026-05-2015:50:00trueCash Flow IndirectDeclaration of unmodified opiniontruetrueNANAfalsetrue2025-12-12https://www.kwalitywallsindia.com/investors/corporate-governance/policies.htmlfalsefalseNo default during the period2026-01-012026-03-31AuditedStandalone48580000002000000486000000021740000001323000000-7830000005100000009100000038200000024180000006115000000-1255000000-177000000-14320000000-361000000-3610000000-10710000000000-107100000048000000-102300000023500000001-0.46-0.4600-0.46-0.460.82-0.71. The audited financial results for the quarter ended 31st March 2026 and for the period from 10th January 2025 to 31st March 2026 of Kwality Wall's (India) Limited (the 'Company') have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Companies Act, 2013 ('the Act') and other recognized accounting practices generally accepted in India. The aforesaid financial results are in compliance with Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 as amended ('the Listing Regulations') and have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on 20th May 2026. These financial results have been subjected to audit by statutory auditors, who have issued an unmodified opinion on the same. <BR> <BR> 2. The Hon’ble National Company Law Tribunal (Mumbai) Bench, vide its Order dated 30th October 2025 read with rectification order dated 6th November 2025, sanctioned the Scheme of Arrangement ("the Scheme") between Hindustan Unilever Limited (“HUL” / "Demerged Company") and the Company and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Act, for the demerger of Ice Cream Business Undertaking ("Demerged Undertaking") of HUL. The Scheme is effective from 1st December 2025, which is also the Appointed Date as defined in the Scheme. <BR> <BR> a. The Company has given the effect to the Scheme in accordance with the accounting treatment specified in the Scheme and per applicable accounting standard as under: <BR> Recorded the assets and liabilities at their respective carrying values as appearing in the books of HUL as at the effective date. The difference between fair value of equity shares amounting to Rs. 48,185 million and net assets is recognised as a debit balance in Capital Reserve. The pre-demerger share capital stands cancelled and transferred to Capital Reserve. <BR> <BR> b. Pursuant to the Scheme, the Board of Directors of the Company at its meeting held on 12th December 2025 allotted 2,349,591,262 Equity Shares of Re. 1/- each to the shareholders of HUL as on the Record Date, i.e. Friday, 5th December 2025, in the ratio of 1:1, i.e. 1 (one) fully paid-up equity share of KWIL having a face value Re. 1/- (Rupee One) for every 1 (one) fully paid-up equity share of face value Re. 1/- (Rupee One) held in HUL ("Share Entitlement Ratio") pursuant to the Scheme. The excess between the fair value of equity shares and face value is being recognised as Securities Premium. <BR> <BR> c. The debit balance in Capital Reserve is adjusted against the credit balance in Securities Premium as specified in the Scheme. <BR> <BR> d. Further the equity shares of the Company were listed on BSE Limited and National Stock Exchange of India Limited ("stock exchanges") on 16th February 2026. <BR> <BR> 3. The Company was incorporated on 10th January 2025 and pursuant to Section 2(41) of the Act, the first financial statements is for the period 10th January 2025 to 31st March 2026. Accordingly, these financial results are for the period 10th January 2025 to 31st March 2026. <BR> Further, in accordance with the accounting treatment prescribed under the Scheme, the figures for the period 10th January 2025 to 30th November 2025 have been restated from the date of incorporation of the Company. <BR> <BR> 4. The figures for the quarter ended 31st March 2026 are the balancing figures between audited figures in respect of the period from 10th January 2025 to 31st March 2026 and the unaudited published figures up to the period from 10th January 2025 to 31st Decemeber 2025 which were subjected to limited review by the statutory auditors. <BR> <BR> 5. Financial results for the period 10th January 2025 to 31st March 2025 have been certified by the management and not subjected to limited review or audit by statutory auditors of the Company. <BR> <BR> 6. The Magnum Ice Cream Company HoldCo 1 Netherlands B.V (“Magnum”), entered into a Share Purchase Agreement dated 25 June 2025 (“SPA”) with Unilever PLC and its group companies ('Unilever Group'), to acquire the entire shareholding of the Company held by the Unilever Group, representing 61.90% of the issued and paid-up share capital of the Company, comprising 1,454,412,858 shares. <BR> On 16th February 2026, the Company got listed on stock exchanges, and an open offer had been launched by Magnum to acquire up to 610,893,729 equity shares from the public shareholders, representing 26% of the paid-up equity shares. On 30th March, 2026, Magnum acquired the shares from Unilever Group in accordance with the SPA and other applicable laws. Pursuant to above, Magnum has acquired control over the Company and is classified as a “promoter” of the Company in accordance with Section 2 (69) of the Companies Act, 2013 and the Listing Regulations. <BR> The open offer was concluded on 7th May 2026 resulting in Magnum holding 61.91% of the paid-up equity share capital of the Company as at the date of approval of the financial results. <BR> <BR> 7. The Company has identified ‘Ice-cream' as its only primary reportable segment in accordance with the requirements of Ind AS 108, 'Operating Segments'. Accordingly, no separate segment information has been provided. <BR> <BR> 8. Exceptional items for the quarter ended 31st March 2026 includes establishment cost, impact of change in labour code and other costs. <BR> <BR> 9.Effective 21st November 2025, the Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. The Company has assessed the financial implications of these changes which has resulted in increase in gratuity liability arising out of past service cost by Rs. 89 million primarily arising due to change in the definition of "wages". Considering the materiality and non-recurring nature of this impact, the Company has presented such impact under "Exceptional Items" in the financial results for the period from 10th January 2025 to 31st March 2026. The Company continues to monitor the finalisation of central and state rules, as well as Government clarifications on aspects of Labour Codes, and will incorporate accounting treatments, if any, based on these developments. <BR> <BR> 10. The financial results until the period ended 31st December 2025 (including all quarters) were presented in Rs. crores. Effective 1st January 2026, the Company has presented the financial results in Rs. million. Consequently, the results for the comparative quarters / periods have also been presented in Rs. million. <BR> <BR> 11.Loss per share (basic and diluted) has been calculated considering equity shares issued pursuant to the Scheme from the date of incorporation of the Company.2025-04-012026-03-31AuditedStandalone2245300000030000002245600000078980000005651000000-151400000018550000002970000001723000000966200000025572000000-3116000000-1139000000-42550000000-567000000-5670000000-36880000000000-368800000048000000-3640000000235000000014372000000-1.57-1.5700-1.57-1.570.82-0.7Other Expenses2418000000Other Expenses966200000069760000004360000000600000005600000059000000115000000571000000483100000012935000000303300000001077000000140000000013000000116300000023930000000542600000000183610000002350000000437200000067220000006722000000000044310000004431000000206000000463700000050300000015700000050120000005169000000896000000656800000022400000021000000070020000001163900000018361000000Other Financial Assets57000000Non-current tax assets (net)2000000Right of use assets4831000000Other financial assets602000000Other current assets561000000Lease liabilities4422000000Other financial liabilities9000000Lease liabilities554000000Other financial liabilities342000000Other current liabilities224000000375000000-1641000000-9260000000-4740000000880000005400000000308700000001840000000172300000062400000079000000-9300000062000000000-300000021000000-100000000015100000003802000000-45300000000020000000-4550000000000000002139000000000000000000000000000-213900000000500000000000050300000007870000000800000002976000000273400000014000000001400000000140000000Remeasurements of the net defined benefit plans6400000064000000Remeasurements of the net defined benefit plans640000006400000016000000160000004800000048000000Kwality Wall's (India) Limited******Hindustan Unilever Limited******Erstwhile Fellow SubsidiaryAny other transactionPayment of processing charges200000000NA1260000000134500000Kwality Wall's (India) Limited******Hindustan Unilever Limited******Erstwhile Fellow SubsidiaryAny other transactionReciept of processing charges150000000NA1240000000141900000Kwality Wall's (India) Limited******Hindustan Unilever Limited******Erstwhile Fellow SubsidiaryAny other transactionExpenses for transitional service agreements50000000NA27000000028700000Kwality Wall's (India) Limited******Hindustan Unilever Limited******Erstwhile Fellow SubsidiaryAny other transactionReimbursments paid260000000NA1050000000113900000Kwality Wall's (India) Limited******Hindustan Unilever Limited******Erstwhile Fellow SubsidiaryAny other transactionReimbursments received50000000NA13000000015000000Kwality Wall's (India) Limited******Unilever Europe Business Center B.V.******Erstwhile Fellow SubsidiaryAny other transactionExpenses for transitional service agreements87870000NA69000000015400000Approval taken from Audit committee ~ 0.9 euro million (INR 87.87 Mn)Kwality Wall's (India) Limited******Unilever IP Holdings B.V.******Erstwhile Fellow SubsidiaryAny other transactionRoyalty - Trademark178960000NA17896000000Kwality Wall's (India) Limited******Unilever IP Holdings B.V.******Erstwhile Fellow SubsidiaryAny other transactionRoyalty - Technology76700000NA7670000000Kwality Wall's (India) Limited******Unilever Industries Private Limited******Erstwhile Fellow SubsidiaryAny other transactionReimbursments paid30000000NA20000000020000000Kwality Wall's (India) Limited******Unilever PLC******Erstwhile Holding CompanyAny other transactionShare based payments21000000NA21000000021000000Kwality Wall's (India) Limited******Kwality Wall's (India) Limited Employees' Superannuation Fund Trust******TrustAny other transactionContributions during the year (Employer's contribution only)0NA700000000These are employer pension contributions paid to Kwality Wall's (India) Limited Employees' Superannuation Fund Trust.Kwality Wall's (India) Limited******Ravindra Pisharody******Independent DirectorsAny other transactionDirector sitting fees0NA6000000100000Kwality Wall's (India) Limited******Shukla Wassan******Independent DirectorsAny other transactionDirector sitting fees0NA6000000100000Kwality Wall's (India) Limited******Madhavan Hariharan******Independent DirectorsAny other transactionDirector sitting fees0NA8000000200000Kwality Wall's (India) Limited******JV Raman******Independent DirectorsAny other transactionDirector sitting fees0NA8000000200000Kwality Wall's (India) Limited******Ravindra Pisharody******Independent DirectorsAny other transactionDirector Commission0NA7000000700000Kwality Wall's (India) Limited******Shukla Wassan******Independent DirectorsAny other transactionDirector Commission0NA7000000700000Kwality Wall's (India) Limited******Madhavan Hariharan******Independent DirectorsAny other transactionDirector Commission0NA7000000700000Kwality Wall's (India) Limited******JV Raman******Independent DirectorsAny other transactionDirector Commission0NA7000000700000Kwality Wall's (India) Limited******Magnum IP Holdings B.V.******Fellow SubsidiaryAny other transactionRoyalty assignment0NA00393800000In March 2026, Unilever assigned its rights, to outstanding receivable for the period 1st October 2025 to 31st March 2026 towards central services and royalty payable, to Magnum IP Holdings B.V.Kwality Wall's (India) Limited******Prashant Premrajka******Key Management PersonnelRemuneration0NA2330000000Kwality Wall's (India) Limited******Chitrank Goel******Key Management PersonnelRemuneration0NA1630000000Kwality Wall's (India) Limited******Anand Upadhyay******Key Management PersonnelRemuneration0NA90000000Kwality Wall's (India) Limited******Vidhi Sanghavi******Key Management PersonnelRemuneration0NA10000000Kwality Wall's (India) Limited******Hindustan Unilever Limited******Erstwhile Fellow SubsidiaryAny other transactionReceivable with respect to PLI0NA00580000000Receivable from Demerged Company. The Company had applied for and claimed benefits under Production Linked Incentive scheme of the Ministry of Food Processing Industries, Government of India (“MoFPI”) in respect of the Demerged Undertaking prior to the Demerger. As per the Scheme these balances are transferred to the Company.813860000AuditedtrueM/s. Walker Chandiok & Co. LLPtrue2028-05-31