Vadilal Industries Ltd. is a prominent Indian multinational company renowned for its extensive range of ice cream and frozen food products. Established in 1907 by Vadilal Gandhi in Ahmedabad, the company began its journey as a soda company. The founder pioneered ice cream production using the traditional "kothi method." His son, Ranchod Lal Gandhi, further developed the business, expanding operations with a hand-cranked machine and opening a small retail outlet in 1926.
The company is actively involved in the manufacturing of ice cream, frozen desserts, juices, and candies. Additionally, it engages in processing and exporting processed food products, including frozen fruits and vegetables, canned fruit pulp, ready-to-eat, and ready-to-serve products. Vadilal also offers flavored milk under the "Power Sip" brand, along with other dairy products like paneer and ghee.
Vadilal Industries is recognized as India's second-largest ice cream brand, holding a significant 16% market share in the organized Indian ice cream market. It stands as the leading player in the Cones, Cups, and Candy categories. The brand has been consistently lauded for its quality and innovation, receiving numerous accolades, including being recognized as the "Most Trusted Ice Cream Brand" and winning a total of 27 awards between 1996 and 2000 at the Great Indian Ice Cream Contest.
The company boasts an extensive product portfolio with over 150 ice cream flavors, available in more than 250 pack sizes and formats. Their offerings encompass ice cream cones, candies, bars, ice-lollies, cups, family packs, and economy packs, catering to diverse consumer preferences. Notably, all their products are vegetarian and egg-free.
The brand's evolution began in 1907 with the introduction of its first ice cream using the traditional kothi method and a hand-cranked machine. In 1926, Vadilal established its dedicated ice cream parlours and introduced home delivery services. The brand played a role in popularizing the cassata in India starting in 1950. A significant expansion occurred in 1985, followed by the introduction of India's first automated ice cream candy line machinery.
In 1989, Vadilal Industries became a public company by launching its Initial Public Offering (IPO). This was complemented by the establishment of its first ice cream plant in Bareilly, Uttar Pradesh, in 1993. By 1995, the company ventured into international markets, exporting its sub-brands to over 26 countries.
During the 1990s, Vadilal strategically diversified into the processed foods industry, encompassing frozen vegetables, ready-to-eat snacks, curries, and breads for both domestic and export markets. In 2013, the company achieved a significant milestone by receiving certification for meeting global food safety standards from Bureau Veritas.
Vadilal Industries operates two dedicated ice cream production facilities: one located at Pundhra in the Gandhinagar district of Gujarat, and the other in Bareilly, Uttar Pradesh. These state-of-the-art facilities enable the company to efficiently produce its wide array of ice cream, flavored milk, frozen desserts, and processed food products. Beyond its domestic operations, Vadilal actively exports its products to numerous countries worldwide.
In 2012, the company enhanced its manufacturing capabilities by introducing an extrusion machine and a cone-making machine. To further elevate the customer experience and maintain its edge in product quality, Vadilal invested in two new advanced technologies: an extrusion machine and India's fastest cone-making machine.
Based on the latest financial results for FY25 and Q4 FY25:
- FY25 Financial Highlights:
- Net profit of ₹113.88 Cr (standalone) and ₹150.33 Cr (consolidated).
- Sales increased by 10.02% to ₹1,238.08 crore for the year ended March 2025, compared to ₹1,125.33 crore in the previous year.
- Net profit saw a 3.00% rise to ₹150.33 crore for the year ended March 2025, from ₹145.95 crore in the previous year.
- A dividend of ₹21 per share has been recommended.
- Q4 FY25 Performance:
- Net profit decreased by 20.41% year-on-year to ₹22 Cr in the quarter ended March 2025.
- Sales increased by 9.15% to ₹274.47 crore in the quarter ended March 2025, compared to ₹251.45 crore in the previous quarter.
- On a quarterly growth basis, Vadilal Industries Ltd. has experienced an 84.41% surge in its net profits over the last three months.
As of the latest available data, the market capitalization of Vadilal Industries stands at ₹4,217.29 Cr. This valuation reflects significant growth and investor confidence in the company's strong market position and future growth prospects.
The year 2025 has marked a period of significant restructuring and leadership evolution for Vadilal Industries. The company's board has undergone a substantial reshuffle. Key transitions include the resignations of Kalpit R. Gandhi as Chief Financial Officer and as a non-executive non-independent director. Rajesh R. Gandhi and Devanshu L. Gandhi have also stepped down as Managing Directors.
In a strategic move to enhance corporate governance, professionalize leadership, and secure the long-term ownership of the iconic Vadilal brand, Mr. Shivakumar Dega was appointed as the Chairman of Vadilal Industries for a term of 5 years, effective June 12, 2025. As part of this restructuring, Vadilal Industries is transitioning towards independent professional management to ensure greater transparency and operational efficiency.
Vadilal has consistently focused on product innovation to meet evolving consumer demands. In 2011, the brand launched a new range of ice creams, including "Flingo" cones and "Badabite" bars, alongside a premium line of ice cream tubs named "Gourmet Premium Ice Creams." In 2021, they further expanded their premium offerings with the "Gourmet Natural Tub" line, which celebrates traditional Indian dessert flavors such as gulab jamun, falooda, and kesar rasmalai.
In 2017, Vadilal unveiled a new logo, accompanied by the catchy tagline, "Dil Bole Waah Waah Waah." In 2021, the company launched "Vadilal Now For Ever" cafe in Ahmedabad, Gujarat, offering a unique consumer experience.
The promoter holding in Vadilal Industries Ltd. has remained stable, standing at 64.73% as of March 2025, consistent with the 64.73% reported in June 2024. This steady promoter stake signifies strong management confidence in the company's future trajectory and commitment to its growth.
Vadilal Industries Ltd. stands as one of India's most trusted ice cream brands with over a century of experience in delighting consumers. The company's robust market position, diverse product portfolio, strong manufacturing infrastructure, and recent strategic corporate governance enhancements position it favorably for continued growth within India's expanding ice cream and frozen food market.
