Olympic Cards Ltd Management Discussions

This report contains statements that the Company’s beliefs may be considered to be "Forward Looking Statements" that describe our objectives, plans and goals. All these forward looking statements are subject to certain risks and uncertainties, including, but not limited to, Government action, local, political or economic developments, changes in legislation, technology risks, risk inherent in the Company’s growth strategy, dependence on certain suppliers and other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. The forward looking statements included in this report are made only as on the date of this report and we undertake no obligation to public.

INDIAN ECONOMIC CONDITIONS

India’s economy is projected to grow in the years to come. The Government announced various schemes particularly for MSME’s which includes additional credit facilities, increasing the scope of Companies eligible for registration under MSME, etc. to tackle the various economic problems. By these proactive measures, Indian economy has already shown improvements financially and expected to rebound in the ensuing Financial Years.

INDUSTRY STRUCTURE

The Indian Wedding Cards and Greeting Cards Industry’s growth is based on the economic and people’s changing habits in celebrating various types of functions. Due to drastic downward trend in using paper-based Wedding Cards and Greeting Cards Industry is facing a serious business situation due to various technological changes on the paper based communications.

Uncertainties and risks

Because of the technological developments and uncertainties in this type of industry it is doubtful whether the Wedding Cards/Greeting Cards industry will have a turnaround in the near future. The mindset of the people has largely changed after the fast development of software based communication techniques which in turn may pose uncertainties and risks to the industry to which your company belong.

Wedding and Greeting Cards

It is observed that the people belong to younger generation explores alternate methods of inviting their friends and relatives for their functions and in greeting them during various festivals. This restricts the volume of sales of Wedding Cards and Greeting Cards which in turn affects financial strength of your company.

Strengths and Opportunities:

Your Company is in the business of providing Wedding Cards and Greetings Cards for more than five decades with a well known name. The Company’s vast experience in the industry your Company is taking various technological strategies to improve the products to meet the present day taste and expectation of the customers. Your company is expected to improve its business by providing its services through advanced techniques/consultations which may provide new opportunities to improve its business.

Weakness and Threats:

Frequent updation of various designs which require huge capital infusion which will result in increased cost of funds. Provision of training in the new techniques to the employees which involve frequent employee migration will again result in increased employee expenditure. These are the main weaknesses in this industry. In order to overcome these problems your Company is taking various costcutting measures wherever possible. Competition from the small size operators in the industry who are situated very near to the location of your company is also a threat to your company.

Performance:

There was a gross income of Rs. 963.27 Lakhs during the year under review (previous year-Rs. 1703.12 Lakhs). The depreciation for the year under review amounted to Rs. 132.03 Lakhs as against Rs. 151.94 Lakhs in the corresponding period of the previous year. Loss Before Tax was Rs. 449.41 Lakhs during the year under review as against loss Before Tax of Rs. 114.92 Lakhs during the previous year. Similarly there was a loss of Rs. 439.06 Lakhs (After Tax) during the year under review as against a loss of Rs. 102.52 Lakhs (After Tax) during the previous year.

Financial Performance

The Financial and Operational performance of the Company and details of the same are mentioned in the Financial Statements as well as Board report.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has in place adequate internal control systems combined with delegation of powers. The control system is also supported by internal audits and management reviews with documented policies and procedures.

FINANCIAL PERFORMANCE & OPERATIONAL PERFORMANCE

There was a gross income of Rs. 963.27 Lakhs during the year under review (previous year-’ 1703.12 Lakhs). The depreciation for the year under review amounted to Rs. 132.03 Lakhs as against Rs. 151.94 Lakhs in the corresponding period of the previous year. Loss Before Tax was Rs. 449.41 Lakhs during the year under review as against loss Before Tax of Rs. 114.92 Lakhs during the previous year. Similarly there was a loss of Rs. 439.06 Lakhs (After Tax) during the year under review as against a loss of Rs. 102.52 Lakhs (After Tax) during the previous year.

EXPLANATION FOR THE SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS:

There was a gross income of Rs. 963.27 Lakhs during the year under review (previous year-’ 1703.12 Lakhs) which shows a decline of 43.44%.The depreciation for the year under review amounted to Rs. 132.03 Lakhs as against Rs. 151.94 Lakhs in the corresponding period of the previous year which shows a decline of 13.10%. Loss Before Tax was Rs. 449.41 Lakhs during the year under review as against loss Before Tax of Rs. 114.92 Lakhs during the previous year which shows an decrease of 74.42%.Similarly there was a loss of Rs. 439.06 Lakhs (After Tax) during the year under review as against a loss of Rs. 102.52 Lakhs (After Tax) during the previous year which shows an decrease of 76.65%

Drastic downward trend in using paper-based Wedding Cards and Greeting Cards Industry is facing a serious business situation due to various technological changes on the paper based communications. Stiff competition is also another major factor for this decline in performance.

INDUSTRIAL RELATIONS

Employee welfare was strengthened with a view to provide the employee the best working atmosphere. There is cordial relationship between management and employees at all levels. The number of employees as on 31^st March, 2025 was 38 (Previous year-41).

CAUTIONARY STATEMENT

Statements in this management discussion and analysis describing the Company’s objections, projections, estimates and expectations may be "forward looking statement" within the meaning of applicable laws and regulations. Actual results may differ substantially or materially from those expressed or implied. Important developments that could affect the company’s operations include Government regulations, tax laws and significant changes in the political and economic environment in India.

For and on behalf of the Board

Place: Chennai	N. MOHAMED FAIZAL (DIN:00269448),
Date: 14th August, 2025	CHAIRMAN
	S. JARINA (DIN: 00269434),
	WOMAN DIRECTOR