Appointment of M/s. Walker Chandiok & Co. LLP, as the Statutory Auditors of the Company, subject to approval of the members.
KWIL · price
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The Board approved appointment of Walker Chandiok & Co. LLP as Statutory Auditors for a 5-year term (from 1st AGM 2026 to 6th AGM 2031), subject to shareholder approval. The company also reported its first audited financial results since incorporation on 10th January 2025, following the demerger of the ice cream business from Hindustan Unilever Limited effective 1st December 2025. For the period ended 31st March 2026, the company reported a net loss of Rs 3,688 million (approximately Rs 368.8 crore) on total income of Rs 22,456 million. The auditor issued an unmodified opinion. The company got listed on BSE and NSE on 16th February 2026, and Magnum Ice Cream HoldCo (Netherlands) now holds 61.91% as promoter after completing the open offer in May 2026.
The appointment of a Big 4 auditor and clean audit opinion signals financial governance readiness post-demerger. However, the substantial operating losses (Rs 3,116 million loss before tax before exceptional items) and significant exceptional items (Rs 1,139 million including labour code impact) indicate execution challenges as a newly independent entity.