Quarterly Updates30 May 2026, 06:31 pm
Olympic Oil Industries Approves Audited FY26 Results
AI Summary
Olympic Oil Industries Ltd's Board of Directors approved the audited financial results for the quarter and financial year ended March 31, 2026, during its meeting held on May 30, 2026. The board considered the audited financial results along with the statement on the impact of audit qualifications and the statutory auditor’s report. The auditor's report highlights concerns regarding defaults in bank loan payments, leading to the classification of credit facilities worth ₹68.75 crore as Non-Performing Assets (NPA).
Key Highlights
- Olympic Oil Industries approved audited financial results for FY26.
- Auditor report indicates ₹68.75 crore in bank loans classified as NPA.
- Interest not charged on borrowings since July 2018 due to NPA status.
- No provision made for current year interest of approximately ₹20.73 crore.
- Accumulated interest of approximately ₹97.33 crore not provided for.
Price Impact
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