Directors Present Mr. N. Mohamed Faizal - MD Mrs. S. Jarina - Woman Director Mr. N. Sridharan -Ind Director Mr. U.Alagarsamy Ind Dirctor In Attendance : Dr. S Kuppan-Company Secretary Mr. ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Olympic Cards Ltd held its 33rd AGM on September 20, 2025, via video conferencing, lasting about 55 minutes. The meeting was chaired by Managing Director Mr. N. Mohamed Faizal, with all four directors present along with the CFO, statutory auditors and secretarial auditor. Key business items included adoption of FY25 financial statements, re-appointment of director Mrs. S. Jarina, re-appointment of Independent Director Mr. Alagarsamy Uthandan for a second 5-year term (June 2026 to June 2031), and approval of related party transactions up to Rs. 7 crore for FY 2025-26. A new secretarial auditor, Mr. R. Deenadayalu, was appointed for five years at Rs. 3.6 lakh per annum. The Chairman's speech revealed deeply concerning financials: gross income fell to Rs. 963.27 lakhs from Rs. 1,703.12 lakhs, while loss after tax widened to Rs. 439.06 lakhs from Rs. 102.52 lakhs. Both statutory and secretarial auditors gave qualified opinions, and management expressed doubt about a near-term turnaround in the paper-based wedding cards industry due to digital shift.
Negative for shareholders — revenue has nearly halved, losses have quadrupled, and management itself questions the industry's near-term recovery. The Rs. 7 crore related party transaction limit and qualified audit opinions are governance red flags that investors should monitor closely.