i. Liberatha Peter Kallat, aged 46 years, is the Promoter and Managing Director of the Company. She was designated as the Chairperson of the Company on November 30, 2021. She holds a bachelor’s degree in science from Andhra University. She has been associated with the Company since 2014 and is responsible for the strategy and overall management of the Company. She has experience in the hospitality sector and has, in the past, been associated with Indian and global multinational companies such as Taj GVK Hotels & Resorts Limited, PepsiCo. India, Premium Port Lounge Management Company Private Limited, and Pernod Ricard India (P) Limited. She has received a number of awards including the Entrepreneur of the Year in the Future Woman Leader Summit and Awards 2017, Outstanding Women Entrepreneur and Employment Award 2018, Women Icon of the Year 2019, Women Entrepreneur of the Year Award 2019, Economic Times most promising business leaders of Asia Award 2019 and 10 best entrepreneurs of 2021 by Industry Era Magazine. She has also received a certificate of recognition as ‘The 10 Most Inspiring Women Entrepreneurs to Watch Globally’ by Innovative Zone, ‘Woman of Excellence Award’ by Indian Achievers’ Forum and ET Inspiring Women Leaders (North-2022). ii. Mukesh Yadav, aged 51 years, is the Promoter and a Non-Executive Director of the Company. He has been associated with the Company since 2011. He has more than 20 years of experience and has been a director of companies such as Whistling Heights Resorts Private Limited, Urban Land Management Private Limited and Yashna Infratech Private Limited. He has been associated with a residential project ‘Amangani Peaceful Homes’, located in Rewari, Gurugram. iii. Dinesh Nagpal, aged 56 years, is the Promoter and Non-Executive Director of the Company. He holds a bachelor’s degree in arts from Maharshi Dayanand University, Rohtak. He has been associated with the Company since 2011. He has been associated with a residential project ‘Amangani Peaceful Homes’, located in Rewari, Gurugram. He has more than 20 years of experience and has been a director of companies such as Ankur Propmart Private Limited, Urban Land Management Private Limited and Yashna Infratech Private Limited.

 

Particulars (in Cr)	March 22	March 21	March 20
Revenue from operations	283	108	367
Lounge fee and other service related costs	237	87	299
Gross Margins	16.25%	19.44%	18.53%
Employee Benefit Expense	16	12	17
Other Expense	6	5	4
Operating Profit	24	4	47
OPM%	8.48%	3.70%	12.81%
Finance Cost	1.40	0.7	0.7
Depreciation	2	1	1
Profit (Loss) for the period	16	-1	31

There are no listed peer companies.

Review and Recommendation of Dreamfolks IPO by IZ team is 4/10

1. Dreamfolks is an asset light model and India’s largest airport service aggregator with 80% market share in domestic lounges. 2. They provide airport related services (i) lounges, (ii) food and beverage (iii) spa, (iv) meet and assist, (v), airport transfer (vi) transit hotels /nap room access, and (vii) baggage transfer. But 99% income comes from lounge services. 3. As of March 31, 2022, Dreamforks had 50 Clients, including Card Networks and other notable Indian Card Issuers. 4. The revenue has not grown over the past three years. The primary explanation may be covid-19, as their operation is entirely dependent on the numbers of airline passengers. 5. According to FY22 data, the Gross Margin of the business is an extraordinarily low 16.5%. 6. The asking P/E ratio exceeds 100x. Looks overvalued. The promoters of this IPO are selling their shares for a capital gain. No money from IPO will  go to the company. 

Dreamfolks Services Limited 501, Tower 2, Fifth Floor, Worldmark, Sector-65, Gurugram – 122 018 Phone: +91 0124 4173 560 Email: compliance@dreamfolks.in Website: https://www.dreamfolks.in/