Kwality Walls
Kwality Walls
FMCGKey Fundamentals
MicrocapDairy ProductsFMCGTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
2- Stock is trading at 15.0 times its book value
- Company has low interest coverage ratio.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 44d agoKwality 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.
- 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
- 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 42d ago- 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
| Particulars | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Sales | 757 | 322 | 223 | 486 | 878 |
| Expenses | 680 | 378 | 288 | 564 | 775 |
| Operating Profit | 78 | -56 | -64 | -78 | 103 |
| OPM % | 10% | -17% | -29% | -16% | 12% |
| Other Income | 0 | -2 | -94 | -18 | 15 |
| Interest | 5 | 5 | 7 | 9 | 10 |
| Depreciation | 35 | 36 | 38 | 38 | 40 |
| PBT | 38 | -99 | -203 | -143 | 68 |
| Tax % | 0% | 1% | -12% | -25% | 25% |
| Net Profit | 38 | -100 | -178 | -107 | 51 |
| EPS in Rs | 7.52 | -20.03 | -0.76 | -0.46 | 0.22 |
Profit & Loss
| Particulars | Mar 2025 3m | TTM |
|---|---|---|
| Sales | 0 | 1,909 |
| Expenses | 0 | 2,005 |
| Operating Profit | 0 | -96 |
| OPM % | — | -5% |
| Other Income | 0 | -99 |
| Interest | 0 | 32 |
| Depreciation | 0 | 152 |
| PBT | 0 | -378 |
| Tax % | 0% | — |
| Net Profit | 0 | -335 |
| EPS in Rs | -0.01 | -21.03 |
| Div. Payout % | 0% | — |
Balance Sheet
| Particulars | Mar 2025 |
|---|---|
| Equity Capital | 5 |
| Reserves | 0 |
| Borrowings | 0 |
| Other Liabilities | 0 |
| Total Liabilities | 5 |
| Fixed Assets | 0 |
| CWIP | 0 |
| Investments | 0 |
| Other Assets | 5 |
| Total Assets | 5 |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Kwality Walls insights
8 extracted metrics + investor summaries across FY25–FY25.
Documents
Frequently Asked Questions about Kwality Walls
What does Kwality Walls India Ltd do?
Where is Kwality Walls India Ltd (KWIL) listed?
Which sector does Kwality Walls India Ltd belong to?
What is the market capitalisation of Kwality Walls India Ltd?
What is the PE ratio of Kwality Walls India Ltd?
What is the 52-week high and low of Kwality Walls India Ltd?
What is the Return on Equity (ROE) of Kwality Walls India Ltd?
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]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/KWIL.md for Kwality Walls India Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.