After years of internal conflict, the Gandhi family has united all promoter entities into one listed company, paving the way for professional management of Vadilal Industries Ltd.
Famous for its iconic ice creams and 100-year legacy, Vadilal has long illustrated the challenges family-run businesses face. Its growth was hindered by multiple promoter-owned companies and overlapping interests that created internal complications.
That changed in March 2025 when all three branches of the Gandhi family signed a Memorandum of Family Arrangement, resolving disputes and consolidating ownership. Vadilal International, Vadilal Chemical Products, and Vadilal Financial Consultants will now merge into Vadilal Industries Ltd, bringing the brand and all intellectual property directly under the listed entity.
“This isn’t just a restructuring on paper,” said Kalpit Gandhi. “We are separating ownership from management. The seven-member board of directors will include Janmejay, Devanshu and Rajesh from the Gandhi family. The four independent directors will be Shalini Raghavan, former Group CMO of Nykaa; Shivakumar Dega, seasoned executive from PepsiCo, Nokia and Philips; Nagarajan Sivaramakrishnan, former CEO of Mother Dairy and Financial Strategist Gaurav Marathe.
The move also ends royalty payments, giving the company full control over the Vadilal brand. Promoters believe this will simplify the business, improve transparency and attract investor trust.
What makes this shift significant is the family’s decision to step back from operational control-anunusual move in Indian family enterprises.
“We want Vadilal to outgrow us,” said Aakanksha Gandhi. “For it to last another hundred years, it has to be more than a family-run business.” Janmejay Gandhi added, “We’ll remain as custodians, but the day-to-day will now be in the hands of professionals.”