NSE: VADILALIND | CMP: ₹5,352 | M-Cap: ₹3,848 Cr
Promoters still fighting, profits still rising — Vadilal is a business soap opera served in a cone. 🍧 But is the stock overfrozen or full of cream?
1. 🧐 At a Glance
Vadilal Industries is India’s #2 ice cream brand with a delicious 16% share in the ₹17,000 Cr organized ice cream market. Despite the Gandhi family feud, the business continues to post juicy double-digit profit growth and insane ROEs. It’s the rare FMCG play where small caps meet nostalgia, and exports quietly top ₹400 Cr.
2. 🎬 Introduction with Hook
Picture this:
A 117-year-old brand.
An ongoing family feud worthy of a Netflix series.
A stock that’s up 59% CAGR in 5 years.
And a product that turns Indians into kids every summer — ice cream.
If India had a Game of Thrones but with kulfi, cones and candy sticks, Vadilal would be House Gandhi. 🏰🍨
And yet, investors are licking their lips. Should they be?
3. 🍭 Business Model – WTF Do They Even Do?
Vadilal operates in two main segments:
🥶 Ice Creams (Domestic)
- Cones, Cups, Candies, Family Packs – household brand across India
- 1 lakh+ retail outlets, 1,000+ distributors, 200+ SKUs
- Competes with Amul, Mother Dairy, Havmor, Cream Bell, etc.
- Highest presence in North + West India
🥕 Processed Foods (Exports)
- Frozen Fruits & Vegetables, Pulp, RTE (Ready to Eat), RTS (Ready to Serve)
- Exported to over 50 countries (US, Canada, Australia, UAE etc.)
- Contribution: ~35% of revenue,
