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, reported audited financials for the period ending March 31, 2026. The company posted total income of Rs 22,456 million but reported a loss before tax of Rs 4,255 million and total comprehensive loss of Rs 3,640 million. This is essentially a newly formed entity resulting from the demerger of Hindustan Unilever's Ice Cream business, which became effective December 1, 2025. Magnum Ice Cream Company HoldCo 1 Netherlands B.V. completed its acquisition of a 61.91% stake from Unilever Group in March 2026 following the company's stock exchange listing on February 16, 2026. The Board approved appointment of Walker Chandiok & Co. LLP as statutory auditors for a 5-year term subject to shareholder approval at the 1st AGM.
This is a routine new auditor appointment for a newly incorporated entity, not a change in auditors for an existing company. The significant story for investors is the change of control from Unilever to Magnum, the substantial operating losses in the first reported period, and the capital reserve debit balance from the demerger.