Kwality Wall's shares fall 3% on ₹178cr loss
Business
Kwality Wall's shares slipped nearly 3% to ₹25.54 on Monday after the company posted a hefty ₹178 crore loss for the December quarter, despite earning ₹223 crore in revenue.
Magnum's open offer at ₹21.33 per share weighs on stock
The drop came after Magnum Ice Cream Company announced an open offer to buy a 26% stake at ₹21.33 per share, lower than today's price.
This follows Magnum's earlier move to take control from Unilever, shaking up who calls the shots at Kwality Wall's.
One-time charges and tough market conditions hit bottom line
Heavy one-time charges like brand write-downs and setup costs pushed losses higher, even though flagship brands Magnum and Cornetto saw some volume growth.
Sales overall dropped as tough weather and GST changes hit demand.
Company to focus on core brands, relaunch in-home range
The company is doubling down on its core brands and plans to relaunch its in-home range in 2026.