Dreamfolks Services Limited shareholders approved the adoption of audited financial statements for FY26 and several board appointments during its 18th Annual General Meeting held on September 28, 2026.

The virtual meeting, conducted via Video Conferencing, saw all six proposed resolutions passed with overwhelming majority support. A total of 70 members attended the session, which commenced at 11:30 am and concluded at 12:38 pm. The proceedings complied with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key resolutions passed

The members transacted both ordinary and special business items as outlined in the notice dated August 13, 2026. The following resolutions were considered through remote e-voting and e-voting at the meeting:

Auditor observations and compliance

The Statutory Auditors' Report was taken as read during the meeting. The report remained unmodified but included an Emphasis of Matter paragraph relating to a petition filed under the Insolvency and Bankruptcy Code, 2016. Details regarding this matter have been disclosed in the Board's Report and relevant notes to the Standalone and Consolidated Financial Statements.

Additionally, the Statutory Auditors made certain observations under the Companies (Auditor's Report) Order, 2020 (CARO 2020). Responses to these observations were read out to the members. The Secretarial Audit Report provided by M/s DMK Associates was also unmodified and taken as read.

Board composition and attendance

The meeting was chaired by Ms. Liberatha Peter Kallat, Chairperson and Managing Director. Several directors attended virtually, including Mr. Mukesh Yadav, Mr. Dinesh Nagpal, Mr. Balaji Srinivasan, Mr. Ravindra Pandey, Ms. Prerna Kohli, Mr. Sunil Kulkarni, and Mr. Lloyd Mathias.

Ms. Monica Widhani, Independent Director and Chairperson of the Nomination and Remuneration Committee, sought leave of absence. She authorized Mr. Sunil Kulkarni to represent the committee at the AGM. Senior officials present included Chief Financial Officer Mr. Shekhar Sood and Chief Business Officer Mr. Sandeep Sonawane.

What the Numbers Show

Voting data reveals a stark divergence in shareholder participation between promoter and public categories. Promoters and the Promoter Group, holding 3,50,07,532 shares, voted on 99.9991% of their holdings, casting 3,50,07,232 votes in favour across all resolutions. In contrast, Public Non-Institutional shareholders, holding 1,82,46,873 shares, voted on only 1.23% of their holdings. Despite this low public turnout, dissenting votes from the public category ranged from 4,398 to 4,894 votes per resolution, representing less than 2.2% of the polled public votes but a negligible fraction of total company shares.

Dreamfolks Services has partnered with fintech firm Elixir to provide premium spa benefits for an upcoming wellness-focused credit card. The collaboration was announced at the Global Fintech Fest on September 9, 2026.

The agreement positions Dreamfolks as the official provider of curated spa experiences for Elixir’s new financial product. Cardholders will access these services through Dreamfolks’ technology-enabled lifestyle platform. This move expands the company’s portfolio beyond traditional travel benefits into holistic wellness offerings.

Partnership Details

Elixir is launching a credit card designed around everyday health and lifestyle choices. The proposition integrates rewards, fitness tracking, and personalized wellness experiences. In addition to the spa benefits powered by Dreamfolks, cardholders will receive complimentary access to leading gyms. They will also gain entry to a marketplace featuring more than 100 wellness brands.

The new card builds on Elixir’s existing prepaid offering, which provides 2% back on all online spends and 5% back on health and wellness spends made through its app. The rewards structure incentivizes healthy behavior with multipliers: rewards increase to 1.5X when cardholders complete 10 workouts in a month and double at 20 workouts.

An AI-powered wellness concierge uses wearable and habit data to offer personalized recommendations. These include relevant workouts, recovery sessions, and supplement reorders. The spa benefit adds an experiential dimension to this digital ecosystem.

Strategic Context

For Dreamfolks, the partnership supports its evolution from a travel access platform into a broader technology-enabled travel and lifestyle benefits company. The firm already offers lifestyle and wellness services, including spa experiences, alongside travel, golf, private club, dining, and healthcare benefits.

Liberatha Kallat, Chairperson & Managing Director of Dreamfolks, noted that younger consumers drive over 40% of all wellness spending. She stated that treating well-being as an everyday necessity rather than an occasional indulgence shapes the evolution of premium credit cards.

Ritik Madan, Co-founder & CEO of Elixir, said the partnership adds a premium experiential layer through access to curated spa experiences. He emphasized the goal of making wellness more accessible and rewarding as part of the everyday credit card experience.

What the Numbers Show

The source data highlights a shift in reward mechanics from static cashback to activity-based multipliers. While the base cashback stands at 2% for general online spends, health-specific spends yield 5%. This 3 percentage point differential explicitly prioritizes wellness-related transactions within the consumer’s spending mix, aligning directly with the card’s core value proposition.