Pursuant to Regulation 30 and 33 of SEBI (LODR) Regulations, 2015, this is to inform you that the board of directors of Olympi Cards Limited (Company) in its meting held to day (28.05.2025) ....
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Awaiting price reaction for this filing.
Olympic Cards Limited, a Chennai-based maker of wedding cards and stationery, reported sharply worse FY25 results. Total income fell about 43% to Rs. 963.27 lakhs from Rs. 1,703.12 lakhs in FY24, and the net loss widened to Rs. 439.06 lakhs (vs. Rs. 102.52 lakhs loss in FY24), with loss per share at Rs. (2.69). Q4 FY25 revenue halved to Rs. 299.22 lakhs and the company swung to a Rs. 93.40 lakhs loss against a Rs. 85.27 lakhs profit a year earlier. The new statutory auditor (Subramanian & Associates, replacing the FY24 auditor) issued a Qualified Opinion because management did not provide balance confirmations for trade receivables/payables, advances, and related-party loans totalling about Rs. 2.65 crores. The board declared no dividend, approved up to Rs. 7 crore in related-party transactions and up to Rs. 20 crore in interest-free loans from directors for FY26, and disclosed pending GST dues (~Rs. 3.07 cr), unpaid EPF (Rs. 37 lakhs), and unpaid ESI (Rs. 4.4 lakhs).
Worsening losses, a qualified audit opinion, large pending statutory dues, negative reserves, and a debt-to-net-worth ratio of around 18x point to serious financial stress and weak governance. Shareholders should expect a negative stock reaction and exercise caution.