Kwality Wall’s reports revenue of US$48M in Q2 FY 2027

INDIA – Kwality Wall’s has reported revenue of US$48.17 million (₹4,530 million) in Q2 FY27, delivering Organic Sales Growth (OSG) of 42.2% and Organic Volume Growth (OVG) of 31.8%.

The company noted that the impulse portfolio sustained strong momentum, delivering high double-digit volume growth during the quarter. EBITDA before exceptional items stood at $2.89 million (₹272 million), representing a margin of 6.0%.

The relaunch of the in-home portfolio with a richer, creamier dairy-based recipe is driving strong consumer recruitment and volume-led growth, marking an important step in the Company’s portfolio transformation.

Gross margin improved to 46.4% (YoY improvement of 282 bps), driven by a favourable product mix, the Company’s productivity program and disciplined pricing, despite higher input costs associated with the transition of the in-home portfolio to dairy.

In the brands, Kwality Wall’s, Magnum, and Cornetto maintained strong growth momentum during the quarter.

The Magnum range continued to perform strongly, delivering sustained growth and reinforcing its position as a key premium brand within the portfolio.

The 2026 innovations (Magnum Caramel Pop, Cornetto Almond Crunch, and Kulfeez) continued to deliver strong growth in the quarter.

The impulse portfolio delivered high double-digit volume growth, while the relaunched in-home range grew at strong double digits, supported by consumer recruitment behind its richer, creamier dairy-based recipe.

Quick Commerce delivered high double-digit growth, Modern Trade recorded healthy growth on the back of strong availability, and General Trade benefited from expansion of the freezer cabinet network, improved outlet execution, and a sharper focus on productivity.

Gross margin improved despite the cost impact of the dairy transition, supported by favourable mix, cost productivity, and disciplined pricing.

The cost productivity programme remains firmly on track, delivering planned benefits and helping offset cost pressures while supporting continued investment in growth.

At the same time, the Company continued to invest behind brands, frontline capabilities, supply chain, and distribution infrastructure.

Business Outlook

Looking ahead, while the external environment remains uncertain, the fundamentals of the business remain strong.

The Company will focus on sustaining volume-led growth through brand investment, consumer-led innovation, new consumption occasions and wider availability across channels. 

In parallel, the Company will continue to drive cost discipline and productivity across the value chain. Investments in frontline capabilities, supply chain and strategic growth priorities are expected to support scale and strengthen operating leverage as the business grows.

To receive our email newsletters with the latest news and insights from Africa, the Middle East and around the world, SUBSCRIBE HERE