The approval marks a key step in aligning Hindustan Unilever’s operations with Unilever’s global plan to create a standalone ice cream entity.
Hindustan Unilever (HUL) has received approval from the National Company Law Tribunal (NCLT), Mumbai Bench, to demerge its ice cream business into Kwality Wall’s (India) Ltd (KWIL). The move will enable HUL to establish a focused, independent entity for its frozen desserts and ice cream portfolio.
Currently, the ice cream division contributes nearly 3% to HUL’s annual turnover, generating around ₹1,800 crore in revenue. As part of the approved scheme, flagship brands including Kwality Wall’s, Cornetto, Magnum, Feast, and Creamy Delight will be transferred to KWIL.
Under the demerger arrangement, HUL shareholders will receive one share of KWIL for every share held in HUL. Meanwhile, Unilever PLC’s global subsidiary, Magnum HoldCo, will hold approximately 61.9% stake in KWIL, with the remaining ownership distributed among existing HUL shareholders.
The restructuring aligns with Unilever’s global strategy to carve out its ice cream division into a standalone listed company, allowing for sharper business focus, operational agility, and targeted growth investments in the category.
The demerger process is expected to be completed by the end of FY 2025–26, paving the way for KWIL to operate as a dedicated entity within India’s fast-growing ice cream and frozen dessert segment.
