Olympic Cards held its 34th Annual General Meeting on September 7, 2026, where shareholders approved related party transactions and director appointments despite a qualified statutory audit opinion for FY26.

The Chennai-based wedding card manufacturer reported a narrowing net loss for the financial year ended March 31, 2026, though it faces headwinds from digital substitution and stiff competition in the paper-based greeting card sector.

Financial Performance

The company recorded gross income of ₹1,276.42 lakh for FY26, up from ₹963.27 lakh in the previous year. Despite the top-line growth, the firm posted a net loss of ₹25.94 lakh after tax, a significant improvement from the ₹439.06 lakh loss reported in FY25.

Loss before tax also contracted to ₹247.40 lakh from ₹449.41 lakh in the prior year. Depreciation charges fell to ₹95.93 lakh from ₹132.03 lakh, contributing to the reduced bottom-line deficit.

For the first quarter of FY27 (ending June 30, 2026), revenue rose to ₹251.84 lakh from ₹216.89 lakh in the corresponding period last year. However, the net loss widened slightly to ₹106.66 lakh compared to ₹102.21 lakh previously.

What the Numbers Show

The divergence between rising gross income and persistent losses highlights margin pressure. While top-line growth of over 32% YoY suggests volume or pricing recovery, the continued net loss indicates that operating expenses and depreciation are outpacing revenue gains. The sharp reduction in absolute loss figures suggests cost-control measures are taking effect, even as profitability remains elusive.

Corporate Governance and Resolutions

Shareholders approved several key resolutions:

• Related Party Transactions: Consent was granted for transactions with entities linked to Managing Director N. Mohamed Faizal and Non-Executive Director S. Jarina. The limit is set at ₹6.61 crore for FY27 and ₹7.12 crore for FY28. Additionally, interest-free unsecured loans from directors are capped at ₹9 crore for FY27 and ₹5 crore for FY28, with a cumulative ceiling of ₹20 crore.
• Director Appointments: Independent Director Nagayasamy Rajkumar was appointed for a five-year term starting September 7, 2026. The board also sought approval for Independent Director Alagarsamy Uthandan to continue beyond age 75 until June 9, 2031.
• Re-appointment: S. Jarina was re-appointed as a director retiring by rotation.

Audit and Outlook

The statutory auditors issued a qualified opinion on the FY26 accounts, and the secretarial audit report also contained qualifications. The Board did not recommend a dividend due to the absence of profit.

Chairman N. Mohamed Faizal noted that the industry remains under pressure due to technological shifts away from paper-based communications. He stated the company is taking steps to overcome these negative factors while maintaining focus on environment, health, and safety standards.

Olympic Cards has scheduled its 34th Annual General Meeting for Monday, September 7, 2026. The meeting will be conducted through Video Conferencing or Other Audio Visual Means (VC/OAVM).

The company announced the schedule in compliance with Ministry of Corporate Affairs and SEBI circulars. Shareholders holding shares as of the cut-off date of August 31, 2026, are eligible to vote.

E-Voting Schedule

Remote e-voting will commence on September 4, 2026, at 8:00 am and conclude on September 8, 2026, at 5:00 pm. Central Depository Services Limited (CDSL) is the authorized e-voting agency.

Members who cast votes remotely before the meeting may attend via VC but cannot vote again. Those present during the meeting who have not voted remotely can cast their votes electronically during the session.

Registrar Closure

The register of members and share transfer books will remain closed from September 1, 2026, to September 7, 2026, inclusive. This closure facilitates the annual general meeting process.

Physical shareholders without registered email addresses must provide folio numbers, PAN, and Aadhaar details to the company or registrar to obtain login credentials. Demat shareholders need to submit beneficiary IDs and account statements.