Dreamfolks Services Limited has informed the Exchange that Basis the recommendation of Audit Committee, the Board of Directors of the Company approved the re-appointment of M/s. S S Kothari Mehta & Co. LLP, Chartered Accountants, a Peer Reviewed Firm (FRN 000756N/N500441) as Statutory Auditor of the Company for a second consecutive term of five (5) years, to hold office from the conclusion of the 18th Annual General Meeting ( AGM ) until the conclusion of the 23rd AGM of the Company, subject to the approval of the shareholders at the ensuing AGM.
DREAMFOLKS · price
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Dreamfolks Services Limited reported audited financial results for Q4 and FY26. Standalone revenue for FY26 stood at Rs 6,580.96 million, down significantly from Rs 12,918.82 million in FY25, with full-year profit of Rs 142.91 million versus Rs 696.83 million in the prior year. The Board re-appointed S S Kothari Mehta & Co. LLP as Statutory Auditor for a second consecutive 5-year term subject to shareholder approval. The auditors issued an unmodified report with an Emphasis of Matter noting that Travel Food Services Limited filed an IBC petition on May 15, 2026 seeking CIRP against the Company for approximately Rs 114 million, which the Company disputes and is contesting legally.
The sharp decline in revenue and the IBC petition filed against the Company for Rs 114 million are significant concerns for investors. While the Company disputes the claim and states provisions have been made, this creates legal and financial uncertainty. The auditor reappointment is routine and maintains audit continuity.