Please find attached financial results along with audit report and statement of impact of audit qualifications.
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Olympic Oil Industries has reported audited results for FY25 showing zero revenue from operations, with only Rs 0.63 lakh of other income (down from Rs 1.08 lakh in FY24). The company posted a loss before tax of Rs 24.94 lakh in FY25, slightly narrower than the Rs 46.28 lakh loss in FY24, but the auditor has issued a qualified opinion flagging massive issues. Bank borrowings of Rs 68.75 crore are classified as Non-Performing Assets (NPA) with about Rs 69.73 crore of unpaid interest not provisioned. Trade receivables of Rs 316.52 crore and unsecured loans to related parties of Rs 38.47 crore are considered doubtful and unconfirmed. The company's networth is fully eroded at negative Rs 22.79 crore (against equity capital of Rs 2.85 crore), and the auditor has highlighted a material going concern uncertainty as there have been no business operations during the year.
Shareholders face a deeply distressed company with negative networth, NPA-tagged bank loans, regulatory investigations by SFIO and CBI, and a qualified audit opinion pointing to substantial hidden losses. The stock is effectively a non-operating shell with serious solvency and governance concerns, making it a very high-risk holding with limited near-term recovery prospects.