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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Kwality Walls (India) Limited, incorporated in January 2025 following the demerger of Hindustan Unilever's Ice Cream Business, reported audited financial results for the period 10th January 2025 to 31st March 2026. The company posted a total income of Rs 22,456 million but reported a net loss of Rs 3,688 million for this period. Magnum Ice Cream Company HoldCo (Netherlands) has acquired 61.91% stake and become the promoter after the open offer concluded on 7th May 2026. The Board approved appointment of Walker Chandiok & Co. LLP as Statutory Auditors for a 5-year term (from 1st AGM 2026 until 6th AGM 2031), subject to member approval.
The appointment of a Big 6 audit firm like Walker Chandiok signals strong governance as the newly listed company establishes its audit framework. However, the substantial net loss of Rs 3,688 million and negative cash flow from operations may concern investors in the near term despite the strategic demerger and new promoter control.