Revised Outcome due to typographical error. 1.Please refer our letter No.OCL/BSE/2025-26/12, May 28, 2025 wherein the word 'MODIFIED OPINION' was erroneously typed as 'UNMODIFIED OPINION' ....

Qualified audit opinionResults restatedNet loss reportedRelated-party transactionsEBITDA margin expansionResults View source PDF Explain this filing

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On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 3.1 pts more than its Consumer Durables peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Olympic Cards has filed an erratta to its May 28, 2025 audited results announcement, clarifying that the auditor's opinion was a 'Modified (Qualified) Opinion' and not 'Unmodified' as originally typed. The auditor had flagged that it could not obtain direct confirmations for balances totalling around Rs.26.5 crore — trade receivables (Rs.233.64 lakh), trade payables (Rs.981.48 lakh), advances from customers (Rs.237.97 lakh), advances to suppliers (Rs.34.76 lakh) and loans from related parties (Rs.1,159.88 lakh). Two related party transaction figures in the XBRL filing were also corrected. The FY25 results show total income at Rs.963.27 lakh, down about 43% from Rs.1,703.12 lakh in FY24, while net loss widened sharply to Rs.439.06 lakh from Rs.114.92 lakh. Reserves are deeply negative at Rs.(1,499.37) lakh.

Likely market impact

The original filing misrepresented the auditor's opinion, which is a significant compliance lapse. The corrected 'qualified opinion' along with sharply rising losses, deeply negative reserves, and unpaid statutory dues (EPF Rs.37 lakh, ESI Rs.4.4 lakh, GST disputes around Rs.3.07 crore) point to serious financial stress. Shareholders should view this as a negative signal; existing shareholders may see further erosion in book value, while prospective investors should exercise caution.

By the numbersStandalone · Q1 FY26 vs Q1 FY25

	Q1 FY26	Q1 FY25	Change
Revenue	₹2.16 Cr	₹1.95 Cr	+11.0%
Operating profit	−₹1.06 Cr	−₹1.30 Cr	loss narrowed
Profit after tax	−₹1.02 Cr	−₹1.41 Cr	loss narrowed
EBITDA margin	-16.6%	-25.9%	+9.2 pp

From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.