General information about company
Scrip code	534190
NSE Symbol
MSEI Symbol
ISIN*	INE550L01013
Name of company	OLYMPIC CARDS LIMITED
Type of company
Class of security	Equity
Date of start of financial year	01-04-2021
Date of end of financial year	31-03-2022
Date of board meeting when results were approved	27-05-2022
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	16-05-2022
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Quarter	Yearly
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited	Audited
Segment Reporting	Single segment
Description of single segment	PAPER AND BOARDS
Start date and time of board meeting	27-05-2022 12:00
End date and time of board meeting	27-05-2022 14:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion

Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2022	01-04-2021
B	Date of end of reporting period	31-03-2022	31-03-2022
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	274.83	686.38
	Other income	57.61	218.49
	Total income	332.44	904.87
2	Expenses
(a)	Cost of materials consumed	99.38	294.77
(b)	Purchases of stock-in-trade	58.32	168.94
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	74.91	117.24
(d)	Employee benefit expense	38.79	164.24
(e)	Finance costs	84.22	373.69
(f)	Depreciation, depletion and amortisation expense	44.65	178.78
(f)	Other Expenses
1	RENT PAID	22.29	81.96
2	ELECTRICITY CHARGES	3.98	20.49
3	DELIVERY CHARGES	0.04	0.54
4	LOSS OF SALE OF PLANT	0	9.71
5	LOSE OF SALE OF VEHICLES	3.88	3.88
6	OTHERS	21.38	56.46
10
	Total other expenses	51.57	173.04
	Total expenses	451.84	1470.7

Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2022	01-04-2021
B	Date of end of reporting period	31-03-2022	31-03-2022
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
3	Total profit before exceptional items and tax	-119.4	-565.83
4	Exceptional items	0	0
5	Total profit before tax	-119.4	-565.83
7	Tax expense
8	Current tax	0	0
9	Deferred tax	3.04	-7.03
10	Total tax expenses	3.04	-7.03
11	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
14	Net Profit Loss for the period from continuing operations	-122.44	-558.8
15	Profit (loss) from discontinued operations before tax	0	0
16	Tax expense of discontinued operations	0	0
17	Net profit (loss) from discontinued operation after tax	0	0
19	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
21	Total profit (loss) for period	-122.44	-558.8
22	Other comprehensive income net of taxes	0	0

Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2022	01-04-2021
B	Date of end of reporting period	31-03-2022	31-03-2022
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
23	Total Comprehensive Income for the period	-122.44	-558.8
24	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
25	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	0	0
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
26	Details of equity share capital
	Paid-up equity share capital	1630.87	1630.87
	Face value of equity share capital	10	10
27	Details of debt securities
28	Reserves excluding revaluation reserve		-533.65
29	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-0.75	-3.43
	Diluted earnings (loss) per share from continuing operations	-0.75	-3.43
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	-0.75	-3.43
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.75	-3.43
30	Debt equity ratio
31	Debt service coverage ratio
32	Interest service coverage ratio
33	Disclosure of notes on financial results	Textual Information(1)

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Textual Information(1)

NOTES: Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of Olympic Cards Limited (“Company”), in its meeting held to-day(27.05.2022) approved the Audited Financial Results of the Company for Quarter/Financial Year ended on 31st March, 2022. Copy of Audited Financial Results along with Auditor’s Report and declaration regarding the Auditor’s Report with the unmodified opinion pursuant to the Regulation 33(3)(d) of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No.CIR/CFD/CMD/56/2016, dated May 27, 2016 is enclosed herewith. 1.The above audited results for the quarter and year ended 31st March, 2022 which have been prepared in accordance with Regulation 33 of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 and subjected to review by the Statutory Auditors of the Company were reviewed by the Audit Committee of the Board of Directors at their meeting held on 27th May, 2022. The approved Audited Financial Results along with audit report for the year ended 31st March, 2022 and declaration on the report of auditors with Auditors Qualifications unmodified opinion are enclosed as Annexure; 2. The Company is mainly in the business of “Paper and Paper Products”. Hence there is no separate reportable segment as per Accounting Standard 17 issued by the Institute of Chartered Accountants of India. 3.The Board of Directors has not recommended any Dividend for the year 2021-22. 4.The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016. The Company for the first time adopted Ind AS for the financial year commencing from April 2017; 5.On March 11, 2020, the World Health Organisation declared COVID-19 outbreak as a Pandemic. Responding to the potentially serious threat that this Pandemic has to public health, the Indian Government has taken a series of measures to contain the outbreak, which included imposing multiple “Lock-downs” from March 22, 2020. The lockdowns and restrictions imposed on various activities due to COVID-19 pandemic have posed challenges to the businesses of the company. The company’s business has been impacted during the year 2021-22 also on account of COVID-19. The Company witnessed lesser revenues due to restrictions imposed by Government. With the unlocking of restrictions, the movement of people has been improved slowly but the businesshas not improved. The audited financial results for the quarter and year ended 31st March, 2022 have been adversely impacted by the outbreak of the COVID-19 Pandemic as explained above and therefore not comparable with the corresponding previous quarter and year ended 31st March, 2021. 6.Figures for the previous periods have been regrouped/rearranged wherever necessary to conform to the current period’s classification. 7.Company has received Show Cause Notices on 23.05.2022 from Commercial Tax Department, Government of Tamil Nadu levying Interest for belated payment of Taxes and Belated filing of GSTR 3B RETURNS as shown below. Company is planning to pay the amount within the permited time. 2 Year Amount(Rs.) 2017-18 7,37,415 2018-19 24,12,309 2019-20 30,03,220 8. Employees provident fund was not being remitted within the due date prescribed in the Employees provident fund Act. EPF payable Rs530785 (for the period from December 2021 to April 2022) excluding penalty and interest that will be levied by the concern authorities. 9. Employees State Insurance amount was not paid amounting to Rs.55128 (for the period from January 2022 to April 2022) excluding penalty and interest that will be levied by the concern authorities. 10.The Board of Directors approved the re-appointment of Statutory Auditors M/S.MRC & Associates, Chartered Accountants, Chennai for a further term of Five years subject to approval in the ensuing Annual General Meeting. 11.The meeting commenced at 12.00 Hours and concluded at 14.00 Hours. Thanking You, Yours faithfully, For OLYMPIC CARDS LIMITED (N. MOHAMED FAIZAL) MANAGING DIRECTOR DIN 00269448

Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2021
Date of end of reporting period		31-03-2022
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	2541.8
	Capital work-in-progress	0
	Investment property	0
	Goodwill	0
	Other intangible assets	5.99
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	0.05
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	0
	Total non-current financial assets	0.05
	Deferred tax assets (net)	0
	Other non-current assets	102.76
	Total non-current assets	2650.6
2	Current assets
	Inventories	3291.58
	Current financial asset
	Current investments	0
	Trade receivables, current	212.39
	Cash and cash equivalents	21.59
	Bank balance other than cash and cash equivalents	44.73
	Loans, current	0
	Other current financial assets	88.23
	Total current financial assets	366.94
	Current tax assets (net)
	Other current assets
	Total current assets	3658.52

Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2021
Date of end of reporting period		31-03-2022
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	6309.12
	Equity and liabilities
	Equity
	Equity attributable to owners of parent
	Equity share capital	1630.87
	Other equity	-533.65
	Total equity attributable to owners of parent	1097.22
	Non controlling interest
	Total equity	1097.22
	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	1312.03
	Trade payables, non-current
	Other non-current financial liabilities
	Total non-current financial liabilities	1312.03
	Provisions, non-current	0
	Deferred tax liabilities (net)	246.03
	Deferred government grants, Non-current
	Other non-current liabilities	5.23
	Total non-current liabilities	1563.29
	Current liabilities
	Current financial liabilities
	Borrowings, current	1270.46
	Trade payables, current	789.08
	Other current financial liabilities	1509.96
	Total current financial liabilities	3569.5
	Other current liabilities	0
	Provisions, current	79.11
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	3648.61
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	5211.9
	Total equity and liabilites	6309.12
	Disclosure of notes on assets and liabilities	Textual Information(1)

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Textual Information(1)	NOT APPLICABLE

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-01-2022	01-04-2021
Date of end of reporting period		31-03-2022	31-03-2022
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets
	Net Segment Asset
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities
	Net Segment Liabilities
	Disclosure of notes on segments

Cash flow statement, indirect
Particulars		Year ended (dd-mm-yyyy)
A	Date of start of reporting period	01-04-2021
B	Date of end of reporting period	31-03-2022
C	Whether results are audited or unaudited	Audited
D	Nature of report standalone or consolidated	Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax	-565.83
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs	362.66
	Adjustments for decrease (increase) in inventories	117.24
	Adjustments for decrease (increase) in trade receivables, current	145.2
	Adjustments for decrease (increase) in trade receivables, non-current	0
	Adjustments for decrease (increase) in other current assets	-18.81
	Adjustments for decrease (increase) in other non-current assets	-35.95
	Adjustments for other financial assets, non-current	0
	Adjustments for other financial assets, current	10.31
	Adjustments for other bank balances	0
	Adjustments for increase (decrease) in trade payables, current	-119.82
	Adjustments for increase (decrease) in trade payables, non-current	0
	Adjustments for increase (decrease) in other current liabilities	553.56
	Adjustments for increase (decrease) in other non-current liabilities	0
	Adjustments for depreciation and amortisation expense	178.78
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss	0
	Adjustments for provisions, current	0
	Adjustments for provisions, non-current	0
	Adjustments for other financial liabilities, current	0
	Adjustments for other financial liabilities, non-current	0
	Adjustments for unrealised foreign exchange losses gains	0
	Adjustments for dividend income	0
	Adjustments for interest income	0
	Adjustments for share-based payments	0
	Adjustments for fair value losses (gains)	0
	Adjustments for undistributed profits of associates	0
	Other adjustments for which cash effects are investing or financing cash flow	0
	Other adjustments to reconcile profit (loss)	0
	Other adjustments for non-cash items	0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships	0
	Total adjustments for reconcile profit (loss)	1193.17
	Net cash flows from (used in) operations	627.34
	Dividends received	0
	Interest paid	0
	Interest received	0
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) operating activities	627.34
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses	0
	Cash flows used in obtaining control of subsidiaries or other businesses	0
	Other cash receipts from sales of equity or debt instruments of other entities	0
	Other cash payments to acquire equity or debt instruments of other entities	0
	Other cash receipts from sales of interests in joint ventures	0
	Other cash payments to acquire interests in joint ventures	0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships	0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships	0
	Proceeds from sales of property, plant and equipment	20.69
	Purchase of property, plant and equipment	11.5
	Proceeds from sales of investment property	0
	Purchase of investment property	0
	Proceeds from sales of intangible assets	0
	Purchase of intangible assets	0
	Proceeds from sales of intangible assets under development	0
	Purchase of intangible assets under development	0
	Proceeds from sales of goodwill	0
	Purchase of goodwill	0
	Proceeds from biological assets other than bearer plants	0
	Purchase of biological assets other than bearer plants	0
	Proceeds from government grants	0
	Proceeds from sales of other long-term assets	0
	Purchase of other long-term assets	0
	Cash advances and loans made to other parties	0
	Cash receipts from repayment of advances and loans made to other parties	0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts	0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts	0
	Dividends received	0
	Interest received	5.38
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) investing activities	14.57
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries	0
	Payments from changes in ownership interests in subsidiaries	0
	Proceeds from issuing shares	0
	Proceeds from issuing other equity instruments	0
	Payments to acquire or redeem entity's shares	0
	Payments of other equity instruments	0
	Proceeds from exercise of stock options	0
	Proceeds from issuing debentures notes bonds etc	0
	Proceeds from borrowings	-314.65
	Repayments of borrowings	0
	Payments of finance lease liabilities	0
	Payments of lease liabilities	0
	Dividends paid	0
	Interest paid	368.04
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) financing activities	-682.69
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	-40.78
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents	0
	Net increase (decrease) in cash and cash equivalents	-40.78
	Cash and cash equivalents cash flow statement at beginning of period	107.09
	Cash and cash equivalents cash flow statement at end of period	66.31