K
Kwality Walls India Ltd
KWIL NSE
Kwality Walls India Ltd
FMCGNSE: KWIL BSE: 544622 Dairy Products
Key Fundamentals
MicrocapDairy ProductsFMCGMarket Cap
₹8,188 Cr
Volatility
Moderate
P/E Ratio
-27.6
EBITDA
₹-2.40 Cr
Return on Equity
-64.76%
Debt to Equity
0
Book Value
₹2.86
52W High
₹39.45
52W Low
₹22.24
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Kwality Walls India Ltd insights
8 extracted metrics + investor summaries across FY25–FY25.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
2- Stock is trading at 12.2 times its book value
- Company has low interest coverage ratio.
Growth Rate
Revenue Growth
-
Net Income Growth
-
Cash Flow Change
94.42% ↗
ROE
-1.00% ↘
ROCE
-
EBITDA Margin (Avg.)
-
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 9d agoAI opinion · based on fundamentals
Risk high
Kwality Walls India Ltd (KWIL) is a recently demerged pure-play ice cream entity from Hindustan Unilever, now majority-owned (61.9%) by The Magnum Ice Cream Company. The company reported FY26 annual sales of approximately ₹2,245 Cr but posted a net loss of ₹368.8 Cr (EPS of -₹1.57), trading at a P/E of -24x and P/B of 10.57x with a market cap of ~₹7,157 Cr.
Bull Case 7
- Pure-play exposure to India's ice cream market, which is one of the world's fastest-growing, with KWIL holding ~9% retail value share as the second-largest player
- Backed by The Magnum Ice Cream Company (TMICC) which acquired a 61.9% controlling stake, bringing global ice cream expertise and brand portfolio including Magnum, Cornetto, and Feast
- FY26 annual revenue of ₹2,245 Cr demonstrates meaningful scale in the organized ice cream segment
- Q4 FY26 sequential revenue recovery to ₹485.7 Cr from ₹223.4 Cr in Q3 FY26, a 117% QoQ improvement reflecting seasonal strength and operational stabilization
- Post-demerger strategic independence allows focused capital allocation, deeper distribution, and sharper pricing strategies specific to ice cream
- Industry P/E of 48.1x for FMCG sector suggests significant re-rating potential if company achieves profitability turnaround
- India's per-capita ice cream consumption remains well below global averages, indicating a long runway for volume growth in the organized segment
Bear Case 8
- Net loss of ₹368.8 Cr in FY26 with negative operating profit of -₹109.9 Cr, indicating the business is currently unprofitable at the operating level
- Stock trades at 10.57x book value despite negative earnings, implying valuation is entirely dependent on future turnaround with no current earnings support
- Net losses widened progressively through FY26 — Q1: -₹19.9 Cr, Q2: -₹100.2 Cr, Q3: -₹178.4 Cr — showing deteriorating trend before Q4
- Low interest coverage ratio with interest expenses of ₹29.7 Cr against negative operating profit, raising debt servicing concerns with debt-to-equity at 0.81x
- Zero dividend yield with no near-term prospect of payouts given accumulated losses
- 9M FY26 cumulative net loss of ₹261.3 Cr and exceptional items of ₹113.8 Cr indicate significant restructuring and transition costs post-demerger
- Competitive pressure from Amul (19% market share vs KWIL's 9%) and other regional dairy players who have cost advantages in milk procurement
- ROE of -1% (last year) and ROCE of 0% indicate capital is currently being destroyed rather than generating returns for shareholders
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 7d ago Positives 1
- New R&D centre in Bengaluru Jul 06
Magnum Ice Cream Company opened a 13,000 sq ft Research, Design & Innovation Centre in Bengaluru to accelerate product innovation for Kwality Wall's and Magnum brands.
TL;DR: KWIL benefits from parent company investment in a dedicated 13,000 sq ft R&D facility in Bengaluru, signaling commitment to product innovation and premiumization. No headwinds surfaced in the current news cycle. The R&D push could strengthen the product pipeline over the medium term, but tangible revenue impact remains to be seen.
Quarterly Results
| Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|
| Sales | 322 | 223 | 486 |
| Expenses | 378 | 288 | 564 |
| Operating Profit | -56 | -64 | -78 |
| OPM % | -18% | -29% | -16% |
| Other Income | -2 | -94 | -18 |
| Interest | 5 | 7 | 9 |
| Depreciation | 36 | 38 | 38 |
| PBT | -99 | -203 | -143 |
| Tax % | 1% | -12% | -25% |
| Net Profit | -100 | -178 | -107 |
| EPS in Rs | -20.03 | -0.76 | -0.46 |
Profit & Loss
| Mar 2025 3m | |
|---|---|
| Sales | 0 |
| Expenses | 0.05 |
| Operating Profit | -0.05 |
| Other Income | 0 |
| Interest | 0 |
| Depreciation | 0 |
| PBT | -0.05 |
| Tax % | 0% |
| Net Profit | -0.05 |
| EPS in Rs | -0.01 |
| Div. Payout % | 0% |
Balance Sheet
| Mar 2025 | Sep 2025 | |
|---|---|---|
| Equity Capital | 5 | 5 |
| Reserves | -0.05 | -2 |
| Borrowings | 0 | 0 |
| Other Liabilities | 0.05 | 2.41 |
| Total Liabilities | 5 | 5.41 |
| Fixed Assets | 0 | 0 |
| CWIP | 0 | 0 |
| Investments | 0 | 0 |
| Other Assets | 5 | 5.41 |
| Total Assets | 5 | 5.41 |
Documents
1
Clarification sought from Kwality Walls (India) Ltd
5 Jun - Exchange has sought clarification from Kwality Walls (India) Ltd on June 5, 2026 with reference to significant movement in price, in order to ensure that … 5 Jun - Exchange has sought clarification from Kwality Walls (India) Ltd on June 5, 2026 with reference to significant movement in price, in order to ensure that …
2
Response To Iias And SES Voting Recommendations - Kwality Walls (India) Limited (Postal Ballot Dated 15Th April 2026
12h - Responds to IiAS and SES on postal ballot appointments of Deputy MD and Executive Director/CFO. 12h - Responds to IiAS and SES on postal ballot appointments of Deputy MD and Executive Director/CFO.
3
Updates on Open Offer
22 Apr - Magnum Ice Cream completed 61.90% acquisition on Mar 30, 2026; open offer for 26% at ₹21.33/share. 22 Apr - Magnum Ice Cream completed 61.90% acquisition on Mar 30, 2026; open offer for 26% at ₹21.33/share.
4
Open Offer Opening Advertisement And Corrigendum
22 Apr - Magnum Ice Cream opens offer for 61.09 crore shares at ₹21.33 after acquiring 61.90% stake on March 30, 2026. 22 Apr - Magnum Ice Cream opens offer for 61.09 crore shares at ₹21.33 after acquiring 61.90% stake on March 30, 2026.
Frequently Asked Questions about Kwality Walls India Ltd
What does Kwality Walls India Ltd do?
Kwality Wall’s (India) Limited (KWIL) is an ice cream and frozen dessert company, offering brands including Kwality Wall’s, Magnum, and Cornetto, etc.[1]
It operates nationally with presence in 400+ cities and reaching to more than 200,000
outlets and 15,000 plus push carts.[2]
Where is Kwality Walls India Ltd (KWIL) listed?
Kwality Walls India Ltd is listed on the Indian stock exchanges. It is listed on NSE: KWIL and BSE: 544622. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Kwality Walls India Ltd belong to?
Kwality Walls India Ltd operates in the FMCG sector within the Dairy Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Kwality Walls India Ltd?
Kwality Walls India Ltd has a market capitalisation of approximately ₹8188.33 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Kwality Walls India Ltd?
The Price-to-Earnings (PE) ratio of Kwality Walls India Ltd is -27.60. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Kwality Walls India Ltd?
Over the past 52 weeks, Kwality Walls India Ltd has traded between a low of ₹22.24 and a high of ₹39.45. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Kwality Walls India Ltd?
Kwality Walls India Ltd has a Return on Equity (ROE) of -64.76%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Kwality Walls India Ltd on Tapetide?
On Tapetide, you can view Kwality Walls India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Kwality Wall’s (India) Limited (KWIL) is an ice cream and frozen dessert company, offering brands including Kwality Wall’s, Magnum, and Cornetto, etc.[1] It operates nationally with presence in 400+ cities and reaching to more than 200,000 outlets and 15,000 plus push carts.[2]