Touchwood Entertainment Rescinds Vanam Wellness Acquisition; Approves FY26 Audited Results
Touchwood Entertainment's Board approved FY26 audited results, with standalone profit after tax at ₹424.56 lakhs. The company decided not to proceed with the acquisition of Vanam Wellness & Celebration Private Limited. Internal and Tax Auditors were re-appointed for FY27. No dividend was recommended.
The rescission of a significant acquisition and the mention of a past income tax search and seizure operation, along with the write-off of bad debts impacting profits, suggest a moderate impact on the company's strategic direction and financial performance.
The company approved audited financial results and re-appointed auditors, which are routine. However, the rescission of a proposed acquisition and the impact of a prior income tax search and seizure operation, along with written-off bad debts, introduce a neutral to slightly negative tone.
Touchwood Entertainment Limited announced the outcome of its Board Meeting held on May 25, 2026. The Board approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company also re-appointed M/s. AAVN & Associates as Internal Auditors and M/s. Agarwal Sudesh & Associates as Tax Auditors for the Financial Year 2026-2027.
In a significant development, the Board decided not to proceed with the proposed acquisition of 51% equity shares of Vanam Wellness & Celebration Private Limited, citing commercial considerations and strategic business assessment. This decision rescinds the earlier communication dated November 13, 2025, regarding the acquisition.
The audited financial results for the quarter ended March 31, 2026, showed a profit after tax of ₹70.31 lakhs for standalone results and a profit after tax of ₹66.29 lakhs for consolidated results. For the full financial year ended March 31, 2026, the standalone profit after tax was ₹424.56 lakhs, and consolidated profit after tax was ₹419.49 lakhs.
Key highlights from the financial statements include Revenue from Operations for the year ended March 31, 2026, at ₹7,458.00 lakhs (standalone) and ₹7,458.00 lakhs (consolidated). The company reported a net worth of ₹4,546.13 lakhs as of March 31, 2026. The Board did not recommend any dividend for the period.
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