Olympic Cards Limited , a company specializing in wedding cards and stationery products, has reported a default on its term loan repayment to HDFC Bank Ltd. The default, which occurred on June 21, 2025, involves a principal amount of Rs. 0.11 crore and interest of Rs. 0.04 crore.

Loan Details and Default Information

The term loan in question carries an interest rate of 11.05% and is secured. According to the company's disclosure to the Bombay Stock Exchange, the loan was part of a larger facility of Rs. 15.50 crore with a tenure of 120 months.

Financial Obligations

Olympic Cards Limited's financial situation, as reported in their disclosure, reveals:

The company's total outstanding borrowings from banks and financial institutions, including the amount owed to HDFC Bank, stand at Rs. 12.55 crore. This figure also represents Olympic Cards Limited's total financial indebtedness, encompassing both short-term and long-term debt.

Disclosure and Compliance

In compliance with regulatory requirements, Olympic Cards Limited has made this disclosure to the Bombay Stock Exchange on July 21, 2025, exactly one month after the default occurred. The company has fulfilled its obligation to inform stakeholders about this financial development.

This default raises questions about Olympic Cards Limited's current financial health and its ability to meet future debt obligations. Investors and stakeholders will likely be monitoring the company's actions to address this default and prevent future occurrences.

Olympic Cards Limited , a company specializing in wedding cards and related products, has reported a default on its term loan repayment to HDFC Bank Ltd. The default, which occurred on June 21, 2025, involves a principal amount of Rs. 0.11 crore and interest of Rs. 0.04 crore.

Loan Details and Default

The defaulted term loan carries an interest rate of 11.05% and is secured. According to the company's disclosure to the Bombay Stock Exchange (BSE), the loan was part of a larger facility of Rs. 15.50 crore with a tenure of 120 months.

Outstanding Borrowings

Olympic Cards' financial situation shows significant debt:

The company's total financial indebtedness, including both short-term and long-term debt, amounts to Rs. 12.55 crore.

Disclosure and Compliance

In compliance with regulatory requirements, Olympic Cards Limited promptly disclosed this default to the BSE on July 21, 2025. The disclosure was made under the category of "Disclosure by listed entities of defaults on payment of interest/repayment of principal amount on loans from banks."

Company Background

Olympic Cards Limited, with its registered office in Chennai, is known for producing wedding cards, greeting cards, and various paper-based products. The company operates in the paper and printing industry.

This default raises concerns about the company's financial health and its ability to meet future debt obligations. Investors and stakeholders will likely monitor the situation closely for any further developments or remedial actions by the company.