Kwality Wall’s India Eyes Expansion After HUL Demerger, Bets on Quick Commerce Tailwinds

Kwality Wall’s India (KWIL), the company behind popular ice cream brands like Magnum and Cornetto, is preparing for a bigger push in India’s fast-growing ice cream market. The company believes there is still significant room to grow consumption beyond an occasional dessert and turn ice cream into an everyday snacking product.

The expansion plan comes soon after KWIL was demerged from Hindustan Unilever (HUL) and listed on Indian stock exchanges.

Strong Tailwinds for Ice Cream Consumption

Ice cream demand in India is seeing a steady boost due to several structural changes. One major driver is the rise of quick commerce, which has made it easier for customers to order ice cream instantly without worrying about it melting during long delivery times.

At the same time, refrigerator penetration in Indian homes is improving, allowing families to store ice creams more regularly. Another important factor is increasing electrification, which is helping smaller kirana stores install freezers and expand access in more neighbourhoods and towns.

Together, these trends are strengthening the ice cream market and creating space for faster category growth.

Post-Demerger Focus And New Ownership Structure

KWIL’s demerger from HUL has given the company a separate identity and a sharper focus on its ice cream business. The listing marked a major shift for the brand, which has been part of India’s consumer landscape for decades.

However, KWIL’s stock debut on the BSE was weak. It listed at ₹29.90, nearly 22% below its adjusted price of ₹38. The stock later settled at ₹29.51, continuing to trade at a discount.

As part of the demerger arrangement, The Magnum Ice Cream Company (based in the Netherlands) is set to acquire a 61.9% stake in KWIL from Unilever. It has also announced an open offer to purchase an additional 26% stake. If completed, this would make it the single largest shareholder and the new parent company of KWIL.

Rising Competition In Premium And Health Segments

KWIL’s quick commerce strategy may help it reach premium households more effectively, but it also places the company in a competitive space. New-age brands such as Go Zero and Noto are gaining attention by offering healthier and low-calorie ice cream options.

This shift suggests that growth in the market may increasingly come from innovation, premiumisation, and better-for-you variants.

Read more: IPO Alert: Shree Ram Twistex to Open for Subscription on February 23.

Conclusion

Kwality Wall’s India is entering a new phase after its demerger and listing, with a clear plan to expand its reach and benefit from strong market tailwinds. While the stock debut was muted, the company’s future performance will likely depend on how well it scales distribution, leverages quick commerce, and competes in the evolving premium and health-focused ice cream space.

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