Kwality Wall's to be demerged, listed this fiscal year: HUL CFO

The demerger process has received preliminary nod; a shareholders' meet is to be held on 12 August

- Suneera Tandon

Hindustan Unilever Ltd (HUL) is pushing ahead with the demerger and listing of its ₹1,800 crore ice cream business, Kwality Wall's (India) Ltd (KWIL), as part of a global separation move by parent Unilever PLC.

The process is slated to conclude by Q4FY26, and it will give Kwality Wall's India an independent identity, sharpen operational focus, and allow it to scale faster in the country's fast-growing but underpenetrated ice cream market, Ritesh Tiwari, chief financial officer at HUL, told Mint in an interview.

The standalone entity, with brands such as Kwality Wall's, Cornetto, and Magnum, will continue to grow in double digits over the coming years, he said.

Parent Unilever PLC had announced its demerger decision on 19 March 2024, citing that move will give Kwality Wall's India an independent identity and operational autonomy, in line with Unilever's view that ice cream operates under a distinct model with limited synergies with other segments.

Unilever said the move helps it focus on its four core business groups: beauty & well-being, personal care, home care, and nutrition. Ice cream has a very different operating model, the company had said. The global separation is expected to be completed in the fourth quarter of 2025.

In India, HUL announced its demerger plans for Kwality Wall's in January this year.