(HUL) has fixed December 5, 2025, as the record date for the demerger of its ice-cream division, which will be carved out into a separate entity named Kwality Walls India Ltd (KWIL). Under the approved structure, shareholders will receive one KWIL share for every HUL share held, ensuring mirror-image ownership in the new company. Advertisement

The ice-cream business accounts for roughly 3 per cent of HUL's total revenue, with historical EBIT margins in the 5–9 per cent range. According to Nuvama Institutional Equities, margins in recent quarters dropped to mid-single digits due to adverse weather conditions.

The brokerage noted that HUL currently trades at approximately 9x EV/Sales, while the demerged ice-cream unit may command a lower valuation multiple because of its smaller scale and

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