Are Olympic Oil Industries Ltd latest results good or bad?

Olympic Oil Industries Ltd's latest financial results for Q2 FY26 indicate a challenging situation for the company. The reported net sales remained at zero, marking the seventh consecutive quarter without revenue since March 2024. The net loss for the quarter was ₹0.06 crores, which is a slight reduction from the previous quarter's loss of ₹0.08 crores, suggesting minimal ongoing expenses rather than any operational recovery. The company's balance sheet reflects significant financial distress, with a negative book value of ₹79.85 per share and total shareholder funds at negative ₹22.79 crores. This indicates that the equity has been completely wiped out, and the company is heavily reliant on current liabilities, totaling ₹388.71 crores, to maintain its operations on paper. Despite the absence of operational activity, the stock closed at ₹35.48 on November 17, 2025, which represents a notable decline of 19.27% over the past year. This performance is significantly below the Sensex, which gained 9.50% during the same period. The lack of sales and operational activity has led to a revision in its evaluation, reflecting the ongoing struggles faced by the company. Overall, Olympic Oil Industries Ltd's financial results depict a company in a state of operational dormancy, with no clear path to recovery or revival. The persistent zero revenue and negative equity position raise serious concerns about its viability as a going concern.