Olympic Oil Industries Ltd Management Discussions

Economic Review

After weathering a year of global headwinds, from elevated interest rates to geopolitical tensions, Indias macroeconomic fundamentals have shown remarkable resilience. The economy grew 7.4% year over year in the final quarter of fiscal year 2024 to 2025—with 6.5% growth for the whole year—setting the stage for a more confident outlook for fiscal year 2025 to 2026.

Entering the new fiscal, Indias economic outlook is sustained by three key engines: a resilient consumer base, a broadening investment landscape, and a digitally skilled, dynamic workforce. Urban spending is rising, private capital expenditures are showing green shoots, and Indias tech-adaptive talent is driving innovation and showcasing its global capabilities.

Industry Structure and Development Agriculture Industry

India is one of the major players in the agriculture sector worldwide and it is the primary source of livelihood for 55% of Indias population. India has the worlds largest cattle herd (buffaloes), the largest area planted for wheat, rice, and cotton, and is the largest producer of milk, pulses, and spices in the world. It is the second-largest producer of fruit, vegetables, tea, farmed fish, cotton, sugarcane, wheat, rice, cotton, and sugar. The agriculture sector in India holds the record for second-largest agricultural land in the world generating employment for about half of the countrys population. Thus, farmers become an integral part of the sector to provide us with a means of sustenance.

The Indian food industry is poised for huge growth, increasing its contribution to world food trade every year due to its immense potential for value addition, particularly within the food processing industry. The Indian food processing industry accounts for 32% of the countrys total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.

Rapid population expansion in India is the main factor driving the industry. The rising income levels in rural and urban areas, which have contributed to an increase in the demand for agricultural products across the nation, provide additional support for this. In accordance with this, the market is being stimulated by the growing adoption of cutting-edge techniques including blockchain, artificial intelligence (AI), geographic information systems (GIS), drones, and remote sensing technologies, as well as the release of various e-farming applications.

Road Ahead

The agriculture sector in India is expected to generate better momentum in the next few years due to increased investment in agricultural infrastructure such as irrigation facilities, warehousing, and cold storage. Furthermore, the growing use of genetically modified crops will likely improve the yield for Indian farmers. India is expected to be self-sufficient in pulses in the coming few years due to the concerted effort of scientists to get early maturing varieties of pulses and the increase in minimum support price. Going forward, the adoption of food safety and quality assurance mechanisms by the food processing industry will offer several benefits. Through the Ministry of Food Processing Industries (MoFPI), the Government of India is taking all necessary steps to boost investments in the food processing industry in India.

Opportunities & Threats

• Pricing & Rising Costs and availability of Raw Materials

The industry is very much dependent on raw materials. Any price volatility of these raw materials and adjust to the same could adversely affect our results of operations and profitability.

• Domestic Markets

We try and tap every lawful opportunity coming our way and follow a focused approach and increased marketing efforts. All these have resulted in increased growth of the Company in the recent years. In the coming years, we shall strive harder to build a strong reputation for ourselves and carve a niche for our products.

• International Markets

The Company is continuously trying to build a large overseas business and revenue from export business accounts for a sizeable component of Companys total turnover. The company is continuously tapping potentially new markets and exporting a wide range of products to these countries.

Risk and concerns

• Growth of unorganized sector and threat from local regional players.

• Change in freight and forwarding charges.

• General economic and business conditions.

• Our Companys ability to successfully implement our growth strategy, fluctuation in Exchange rates.

• Prices of raw materials.

• Changes in laws and regulations relating to the industry in which we operate.

• Changes in political and social conditions in India.

Internal Control Systems and their adequacy

The Companys internal control procedures are tailored to match the organizations pace of growth and increasing complexity of operations. This ensures compliance to various policies, practices and statutes.

We have an independent and adequate system of Internal Control which enables reliable financial reporting, safeguard of assets and encourages adherence to management policies. The Company has a system for speedy compilation of accounts and management information reports to comply with applicable laws and regulations.

We have a reasonable budgetary control system so that the management can monthly review actual performance against the budget. A well-defined organization structure is in place with authority level, internal rules and guidelines for conducting business transactions.

Discussion on Financial Performance with respect to operational performance

The Break-up of Revenue and Costs of Company is as given below:

Particulars	2024-25	2023-24
INCOME
Sales & Income from Operation	0.00	0.00
Other income	0.00	107.70
TOTAL	0.00	107.70
EXPENDITURE
Operating Expenditure	0.00	0.00
Administrative and Other Expenditure	2162.67	4036.99
Interest and Financial Charges	1.33	8.75
Depreciation	3.84	5.50
Employee Benefit	326.56	685.30
TOTAL	2494.41	4736.54
Profit /(Loss) Before Extra-Ordinary Items and Tax	(2494.41)	(4628.83)
Less:
Short/(Excess) Provision of Income Tax for Last Year Written Off/(Back)	0.00	347.00
Profit/ (Loss) After Tax	(2494.41)	(4975.83)
OTHER COMPREHENSIVE INCOME
A) Items that will not be reclassified to Profit & Loss	1306.13	26.05
B) Items that will be reclassified to Profit & Loss	0.00	0.00
Total Profit for the year	(1188.28)	(4949.79)
Earning Per Share	(0.42)	(1.73)

1. Total Income: During the year under the review your Company has not generated any operating income.

2. Administrative and other expenses: The administrative expenses have been decreased from Rs. 40,36,985 (FY 2023-24) to Rs. 21,62,675 (FY 2024-25).

3. Interest and Financial Charges: Net Financial Charges has been decreased Rs. 8,751 (FY 2023-24) to Rs. 1,331 (FY 2024-25).

4. Depreciation: The Depreciation cost has been decreased from Rs. 5,504 (FY 2023-24) to Rs. 3,841 (FY 2024-25).

5. Net Loss: Net Loss has been decreased from Rs. 49,49,786 (FY 2023-24) to Rs. 11,88,283 (FY 2024-25).

6. Other Factors

I. Known trends or uncertainties

The world economy has witnessed an unprecedented economic crisis causing severe recessionary trends in various countries.

II. Dependence on Single or few suppliers/customers

The Customer base of our Company is very strong, as we do not deal with a single customer or supplier. We have a very cordial relationship with all customers and suppliers with whom we have been dealing for a very long time. KYC norms are followed in all seriousness.

III. Significant developments subsequent to last financial year

In the opinion of the Directors, there are no significant changes since the date of the last financial statements, which could materially affect the operations, and Profitability of our Company.

Human Resource and Industrial Relations

Industrial relations of the company were cordial during the year and continue to remain peaceful and all the employees are working with the company for a common objective. Olympic Oil Industries Limited had 2 employees on payroll.

Significant Changes in Financial Ratios

During the year no significant changes in financial ratios of the Company.

Cautionary Statement

Statements in this Report describing your Companys objectives, projections, estimates and expectations or predictions, may be ‘forward looking statements are within the meaning of the applicable laws and regulations. Actual results might differ substantially or materially from those expressed and implied. Important developments that could affect your Companys operations include a downtrend in the international market, fall in on-site, offshore rates and significant changes in political and economic environment, environment standards, tax laws, litigations and labour relations.

DISCLOSURES PURSUANT TO SECTION 197(12) OF THE COMPANIES ACT, 2013 READ WITH RULE 5(1) OF COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014:

1. The ratio of the remuneration of each director to the median remuneration of the employees of the Company for the financial year :

Not applicable as none of Directors received any remuneration during the financial year 2024–25.

2. The percentage increase in remuneration of each Director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year:

Name of Director	Designation	% of increase in remuneration
*Nipun Verma	Whole Time Director	NA
Mansi Bajpai	Company Secretary	0.00

* No Remuneration paid during the year

3. The percentage increase in the median remuneration of employees in the financial year 2024-25:

There is no increase in median remuneration of employees in the financial year 2024-25

4. The number of permanent employees on the rolls of Company as on 31^st March, 2025:

Total number of permanent employees on the rolls of company as on 31^st March, 2025 is 2.

5. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial Remuneration

During the year under review there is no increase in remuneration of employees as well as managerial personnel.

6. It is hereby affirmed that the remuneration paid is as per the Remuneration Policy for Directors, Key Managerial personnel and Senior Management

The Company is in compliance with its Nomination, Remuneration and Compensation policy