Hindustan Unilever’s ice cream arm Kwality Wall’s shares to list on NSE, BSE on February 16

In a regulatory filing on Thursday, HUL stated that it received approval from both exchanges on February 12 for the listing and trading of 2,34,95,91,262 equity shares of ₹1 each of Kwality Walls.

The stock of HUL started trading ex-ice cream business on December 5, 2025. With an entitlement ratio of 1:1, shareholders received one fully paid-up equity share of Kwality Wall’s for every one share of HUL they owned.

The NCLT had approved the FMCG major’s ice-cream business demerger scheme on November 6, 2025, while the agreement came into effect on December 1.

On November 6, the NCLT approved Hindustan Unilever’s (HUL) scheme to demerge its ice-cream business, Kwality Wall’s, into a separate entity, with the agreement coming into effect on December 1.

The ice cream business contributed ₹1,800 crore to HUL’s total revenue and formed 3% of its total yearly turnover.

With the debut on Monday, India will have its first standalone listed ice-cream company, named Kwality Wall’s (India) Ltd (KWIL), and will house brands such as Cornetto, Magnum, and Kwality Wall’s.

HUL Q3 results

The FMCG player posted a 121.41% year-on-year (YoY) growth in its consolidated profit after tax (PAT) to ₹6,607 crore in the December quarter of FY26, compared to ₹2,984 crore in the year-ago period.

The company posted an exceptional item (loss) of ₹576 crore in the quarter under review due to the implementation of the new labour codes.

Its revenue from operations stood at ₹16,580 crore during the quarter under review, marking a 5% YoY surge from ₹15,788 crore in the third quarter of FY25.

HUL’s revenue from the sale of products advanced 5.71% YoY to ₹16,197 crore for Q3FY26, as against ₹15,322 crore in the same quarter a year ago.

At an operational level, its EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose 2% to ₹3,640 crore for the reporting quarter, in comparison to ₹3,570 crore in Q3 FY25.

Its EBITDA margin stood at 23% versus 23.2% YoY.

HUL has a total market capitalisation of ₹5.42 lakh crore, as of February 15, 2026, according to data on the NSE.