Kwality Wall's (India) Limited has announced its audited financial results for the quarter and period ended March 31, 2026. The Board of Directors, at its meeting held on May 20, 2026, approved the results, which were subjected to an audit by M/s. Walker Chandiok & Co. LLP, who issued an unmodified opinion. Additionally, the Board appointed the firm as Statutory Auditors for a five-year term, subject to shareholder approval.

Financial Performance

The company reported a total income of Rs. 4,860 million for the quarter ended March 31, 2026, compared to Rs. 4,400 million in the same quarter of the previous year, reflecting year-on-year revenue growth. On a sequential basis, total income rose from Rs. 2,233 million in the quarter ended December 31, 2025. For the full period from January 10, 2025, to March 31, 2026, total income stood at Rs. 22,456 million. Despite the revenue growth, the company continued to report a net loss for the quarter, though the loss narrowed compared to the prior year's Rs. 200 million loss figure on a like-for-like basis.

Operational Highlights and Expenses

Total expenses for the quarter rose to Rs. 6,115 million. Key cost drivers included the cost of materials consumed at Rs. 2,174 million and purchases of stock-in-trade at Rs. 1,323 million. Other expenses accounted for Rs. 2,418 million. The company also reported exceptional items amounting to Rs. 177 million for the quarter, attributed to establishment costs and the impact of changes in labour codes.

Corporate Actions

During the quarter, The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. acquired control of the company, becoming the promoter. Consequently, the equity shares of Kwality Wall's (India) Limited were listed on BSE Limited and National Stock Exchange of India Limited on February 16, 2026. The Board also finalized the appointment of M/s. Walker Chandiok & Co. LLP as statutory auditors, effective from the conclusion of the first Annual General Meeting in 2026 until the conclusion of the sixth AGM in 2031.

Kwality Wall's (India) Limited announced on May 15, 2026, the successful passage of all eight resolutions submitted to its members through a postal ballot process conducted entirely via remote e-voting. The results were disclosed in accordance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had 1149814 total members on record as of the cut-off date.

Postal Ballot Process Overview

The Postal Ballot Notice was dated April 15, 2026, and the remote e-voting window opened on April 16, 2026 at 09:00 A.M. (IST), closing on May 15, 2026 at 05:00 P.M. (IST). Voting was facilitated through the e-voting platform of KFin Technologies Limited. The process was scrutinized by Nitesh Latwal (ACS No.: A32109, CP No.: 16276), Partner of M/s PI & Associates, Practicing Company Secretaries (FRN: P2014UP035400), who was appointed by the Board of Directors on April 13, 2026. The scrutinizer submitted his report on May 15, 2026, confirming that all resolutions were passed with the requisite majority.

The following key details governed the postal ballot process:

Resolutions Passed

All eight resolutions — six Special Resolutions and two Ordinary Resolutions — were passed with requisite majority. The resolutions covered the following:

• Resolution 1 (Special): Appointment of Mr. Chitrank Goel (DIN: 11388422) as Executive Director designated as Deputy Managing Director
• Resolution 2 (Special): Appointment of Mr. Prashant Premrajka (DIN: 11065666) as Executive Director & Chief Financial Officer
• Resolution 3 (Special): Appointment of Mr. Madhavan Hariharan (DIN: 07217072) as Non-Executive Independent Director
• Resolution 4 (Special): Appointment of Mr. Ravindra Pisharody (DIN: 01875848) as Non-Executive Independent Director
• Resolution 5 (Special): Appointment of Ms. Shukla Wassan (DIN: 02770898) as Non-Executive Independent Director
• Resolution 6 (Special): Appointment of Mr. Jayaraman Vaidyaraman ("JV Raman") (DIN: 08760114) as Non-Executive Independent Director
• Resolution 7 (Ordinary): Approval of remuneration payable to Non-Executive Independent Directors
• Resolution 8 (Ordinary): Appointment of M/s. S.N. Ananthasubramanian & Co., Company Secretaries (ICSI Unique Code: P1991MH040400) as Secretarial Auditors

Voting Results Summary

The table below presents the consolidated voting outcome for all eight resolutions, including total votes polled, votes in favour, votes against, and the overall result.

Promoter and Institutional Participation

For all resolutions, the Promoter and Promoter Group cast 1454412858 votes entirely in favour, representing 100.0000% of their holdings. Public Institutional shareholders, holding 407676409 shares, polled 325011935 votes, representing 79.7230% of their outstanding shares. Notably, for Resolutions 7 and 8, Public Institutional shareholders voted 100.0000% in favour with zero votes against. For Resolutions 1 and 2, institutional votes against were comparatively higher at 11.7955%, while for Resolutions 3 through 6, institutional opposition remained below 0.36%. Public Non-Institutional shareholders participated at approximately 2.84% of their outstanding shares across most resolutions.

Scrutinizer's Certification

The scrutinizer, Nitesh Latwal, confirmed that the postal ballot process was conducted in compliance with Section 108 and 110 of the Companies Act, 2013, read with Rule 20 & 22 of the Companies (Management and Administration) Rules, 2014, and in accordance with MCA Circular No. 03/2025 dated September 22, 2025, and SEBI (LODR) Regulations, 2015. All resolutions are deemed passed on May 15, 2026, the last date of remote e-voting. The announcement was signed by Anand Upadhyay, Company Secretary & Compliance Officer (Membership No: A23622) of Kwality Wall's (India) Limited.