Olympic Cards Ltd — Board Meeting, 28-05-2025: Board Meeting

Olympic Cards Ltd has announced a board meeting to approve the financial results for the quarter and half-year. The company reported total income of Rs. 963.27 lakhs for the year, with a net loss of Rs. 439.06 lakhs. No dividend has been declared. The business remains focused on paper and paper products, primarily manufacturing and trading wedding cards and related items. The Board approved related party transactions up to Rs. 7 Cr and interest-free director loans up to Rs. 7 Cr, with cumulative director loans capped at Rs. 20 Cr. They also approved disposal of obsolete stock worth Rs. 99 lakhs. Audit was qualified due to lack of confirmations for trade receivables (Rs. 233.64 lakhs), payables (Rs. 981.48 lakhs), advances, and related party loans (Rs. 1159.88 lakhs). The company is addressing pending GST appeals totaling over Rs. 3 Cr and has overdue employee provident fund and insurance dues. Re-appointment of two directors is proposed.