Kwality Wall’s (India) has taken a decisive step toward its long-anticipated separation from Hindustan Unilever (HUL), formally unveiling the Board of Directors that will guide the company into its new life as an independent, publicly listed ice-cream powerhouse. The announcement, communicated to HUL on 23 November 2025, is part of the ongoing Scheme of Arrangement under Sections 230–232 of the Companies Act, 2013, through which HUL’s ice-cream business will be transferred into the newly formed KWIL.
This disclosure marks a significant milestone in the transition, signalling that Kwality Wall’s is organisationally ready to operate as a standalone entity. The newly constituted board brings together a combination of global FMCG experience, financial leadership, operational depth, and strong governance credentials. The board comprises:
Prashant Premrajka – Executive Director & CFO
Chitrank Goel – Deputy Managing Director
Ritesh Tiwari – Non-Executive Director
Ravi Pisharody – Independent Director
J. V. Raman – Independent Director
Mahadevan Hariharan – Independent Director
Shukla Wassan – Independent Director
Collectively, the board represents a balance of strategic vision and operational experience, crucial as the company prepares to scale independently in a high-growth category.
Alongside the board announcement, KWIL has also shared an extensive investor presentation detailing its business model, competitive positioning, and long-term ambitions. The document reinforces Kwality Wall’s status as India’s second-largest ice-cream brand by retail value, backed by more than 70 years of heritage and the technological and brand strength of Unilever’s global ice-cream legacy. As the Indian ice-cream market, currently valued at US$2.6 billion, moves toward a projected US$4.4 billion by 2030, KWIL sees a strong opportunity to deepen its presence through premiumisation, rapid cabinet expansion, innovations aligned to snacking-friendly price points, and growth in new consumption occasions through quick commerce.
The company outlines a shift from a broad FMCG model to a specialised, frontline-first cold-chain organisation designed for agility and seasonality. Its future roadmap focuses on margin expansion through procurement productivity, a more premium product mix, regionalised manufacturing, digital route-to-market capabilities, and efficient capital allocation for cabinet and capacity growth. While the presentation acknowledges temporary margin pressures arising from cocoa inflation, GST transitions, supply-chain investments, and the cost of establishing a standalone entity, KWIL maintains that its medium-term strategy aims for EBITDA expansion, improved free cash flow, and organic growth outpacing the broader market.
For HUL, the disclosure fulfils regulatory obligations under SEBI Listing Regulations and the observation letters issued by BSE and NSE. For Kwality Wall’s, it signals the beginning of a new identity, independent, ambitious, and ready to shape its own future while continuing to leverage global brand access through licensing arrangements.
As the company moves closer to its listing and post-demerger life, the newly announced board and redefined strategic focus mark the dawn of a significant new chapter, one where Kwality Wall’s evolves from a legacy brand within a conglomerate to a standalone leader in India’s rapidly modernising snacking and ice-cream landscape.
