Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for loans including revolving facilities like cash credit from banks ....
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Olympic Cards Ltd has disclosed a default on a term loan from HDFC Bank Ltd. The default occurred on 27-01-2026, with an overdue amount of Rs. 15.17 lakh (Rs. 0.1517 crore), comprising Rs. 0.1204 crore in principal and Rs. 0.0313 crore in interest. The original facility was Rs. 15.5 crore over 120 months at 11.05% interest rate, secured, with Rs. 4.22 crore still outstanding to HDFC Bank. Total outstanding bank borrowings stand at Rs. 9.28 crore, and total financial indebtedness of the company is Rs. 12.23 crore as of 30-09-2025.
This default signals short-term liquidity stress for Olympic Cards Ltd and is a credit-negative event. Shareholders should brace for potential rating action, tighter lending terms, and possible negative movement in the stock price. The relatively small default amount (Rs. 15.17 lakh) suggests the operational issue may be a cash flow timing mismatch rather than a large-scale solvency crisis, but continued defaults could trigger escalation.