Kwality Wall's Restructures IP Royalty Agreement and Appoints New Internal Auditor

Kwality Wall's Restructures IP Royalty Agreement and Appoints New Internal Auditor​

Kwality Wall's (India) Limited announced several key operational changes following its Board Meeting held on June 29, 2026. The outcomes included a strategic review of an intellectual property agreement with Magnum IP Holdings B.V., the cessation of Mr. Rohit Jhunjhunwala as Senior Management Personnel, and the appointment of Ms. Dimple Lalwani as Internal Auditor for the financial year 2026-27.

Intellectual Property Agreement Restructuring​

The company agreed upon a revised structure for its three-year intellectual property agreement with Magnum IP Holdings B.V., which was established to grant KWIL license rights for product sales in India. This arrangement is part of management’s review following the demerger of the Ice Cream business and addresses evolving market dynamics.

A key component of the agreement is a royalty moratorium granted until March 31, 2027, intended to support planned investments and stabilization efforts post-demerger. The royalty structure moving forward is detailed below:


The agreement restricts KWIL's use of the licensed intellectual property exclusively within an Indian jurisdiction. The parties, Kwality Wall's and Magnum IP Holdings B.V., form part of The Magnum Ice Cream Company group. The Board determined that the proposed arrangement aligned with arm's length principles based on independent external assessment. This new IP Agreement supersedes prior arrangements related to the trademark and technology transition following the company’s demerger.

Executive and Auditor Appointments​

The Board meeting also addressed senior management changes and the appointment of an internal auditor for the upcoming fiscal year.

Mr. Rohit Jhunjhunwala ceased his role as Senior Management Personnel, effective July 1, 2026. This change was attributed to him assuming a new leadership role.

Ms. Dimple Lalwani has been appointed as the Internal Auditor of the Company for FY 2026-27, with her term starting on July 1, 2026. Ms. Lalwani is noted as a Senior Audit and Risk Consulting Manager possessing over 13 years of global experience in integrated audits and regulatory compliance. She holds certifications from the Institute of Internal Auditors and the Information Systems Audit and Control Association.

KWIL Stock Price Movement​

On Monday, shares of Kwality Wall's (India) Limited edged higher in the market, gaining 0.26% and closing at ₹34.90. The equity traded a total volume of 5.54 million shares during the session.