Olympic Cards Ltd Reports Default on Term Loan with HDFC Bank; Financial Indebtedness Stands at Rs 8.74 Cr
Olympic Cards Ltd, a company specializing in wedding cards and stationery items, has disclosed details regarding a default that occurred on a term loan provided by HDFC Bank Ltd. The company's overall financial indebtedness currently stands at Rs 8.74 crore as of March 31, 2026.The disclosure pertains to a Term Loan taken from HDFC Bank Ltd. The default occurred on May 28, 2026. The specific loan obligation was for a total principal amount of Rs 15.5 crore and included a tenure of 120 months, with an interest rate set at 11.05%. This facility is secured by the company.
As of the date of disclosure, the details regarding this specific default are as follows:
| Component | Details (in INR crore) |
|---|---|
| Nature of Obligation | Term Loan |
| Name of Lender | HDFC Bank Ltd |
| Date of Default | 28-05-2026 |
| Current Principal Default Amount | 0.1260 Cr |
| Current Interest Default Amount | 0.0257 Cr |
| Total Default Amount | 0.1517 Cr (Rs. 15,17,273/-) |
The total outstanding amount of the obligation with HDFC Bank Ltd is Rs 3.04 crore.
In addition to this facility, Olympic Cards Ltd reported that its total outstanding borrowings from Banks and financial institutions stand at Rs 8.69 crore. The company's total financial indebtedness, encompassing both short-term and long-term debt, was noted as Rs 8.74 crore on March 31, 2026.
Stock Price Movement
Olympic Cards Ltd shares closed at ₹2.92 on Thursday, ticking up after gaining 1.04%. The stock traded within a tight session range, hitting an intraday low of ₹2.90 and a high of ₹2.92.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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