Dreamfolks Services Limited has informed the Exchange regarding Notice of Postal Ballot seeking approval of Members by way of special resolution w.r.t. Reappointment of Mr. Balaji Srinivasan as Executive Director and Chief Technology Officer of the Company and to approve remuneration payable to him
DREAMFOLKS · price
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Dreamfolks Services is seeking shareholder approval via postal ballot to reappoint Mr. Balaji Srinivasan as Executive Director and Chief Technology Officer for a fresh five-year term from September 2, 2026 to September 1, 2031. He has been with the company since March 2019 and his current term ends September 1, 2026. The proposal also covers his remuneration from April 1, 2026 to March 31, 2029, including a monthly basic salary of ₹4,65,500, HRA of ₹2,32,750, special allowance of ₹1,53,451, plus PF, NPS contributions, reimbursements, and a performance-linked bonus of up to 100% of basic+HRA. He has also been granted 10,45,000 ESOPs at an exercise price of ₹96.46, of which 5,19,850 shares have already been allotted. Remote e-voting runs from February 24 to March 25, 2026, with results expected by March 27, 2026. Company financials show consolidated revenue growing from ₹7,732.52 lakh in FY23 to ₹12,918.82 lakh in FY25.
This is a routine reappointment of an existing key managerial person (CTO), signaling continuity in technology leadership. Shareholders should review the total pay package including fixed, variable, and ESOP components before voting. Approval is likely a procedural formality with minimal stock price impact, though remuneration levels are relevant for governance-sensitive investors.