Op Chains submitted its annual report for FY26 on August 24, 2026, revealing a sharp contraction in financial performance ahead of its 25th Annual General Meeting (AGM). Revenue from operations fell 76% year-on-year to ₹193.3 million, while net profit after tax declined 62% to ₹103.4 million.

The Board of Directors approved the audited financial statements during a meeting held on August 24, 2026. The company confirmed September 14, 2026, as the record date for shareholders eligible to vote at the AGM scheduled for Monday, September 21, 2026.

Financial Performance

The decline in turnover was driven by reduced trading activity in precious metals. Total income dropped from ₹955.9 million in FY25 to ₹346.4 million in FY26. Despite the revenue contraction, the company maintained profitability due to significant other income, primarily interest received from related parties.

Other income rose 11% to ₹153.1 million, largely comprising interest received from YTT Industries Private Limited, a related party. This interest income constituted approximately 44% of total income, highlighting a dependency on non-operating revenues amidst declining core trading volumes.

Governance and Board Changes

The AGM agenda includes several key governance resolutions. Shareholders will consider the regularization of Mrs. Swapnla Gupta and Mrs. Praneeta Varshney as Non-Executive Independent Directors. Both were initially appointed as Additional Independent Directors in November 2025.

Additionally, the meeting will approve the appointment of Mr. Moon Goyal as Whole-Time Director for five years, commencing August 12, 2026. Mr. Goyal, who holds a 3.6% stake in the company, brings over 21 years of experience in bullion trading and real estate. He is the cousin of Managing Director Mr. Satish Kumar Goyal and Chairman Mr. Ashok Kumar Goyal.

Mr. Ashok Kumar Goyal offers himself for re-appointment as Chairman cum Whole-Time Director, retiring by rotation under Section 152(6) of the Companies Act, 2013. Mr. Satish Kumar Goyal seeks re-appointment as Managing Director for a further five-year term.

Related Party Transactions

The annual report discloses significant related party transactions. The company extended loans and advances totaling ₹231.7 million to YTT Industries Private Limited, an entity where directors or relatives hold positions. Sales to O.P. Chains Company, a proprietorship firm in which a director is a partner, amounted to ₹14.2 million.

All related party transactions were conducted at arm's length and approved by the Audit Committee. The company has adopted a policy defining material related party transactions as those exceeding ₹50 crore or 10% of annual consolidated turnover.

AGM Logistics

The 25th AGM will be conducted in physical mode at the company's registered office in Agra, starting at 11:00 am. Remote e-voting facilities are available through Bigshare Services Private Limited, with Mr. Ramesh Chandra Sharma appointed as Scrutinizer. The Register of Members and Share Transfer Books will remain closed from September 15 to September 21, 2026.

O.P Chains has appointed Moon Goyal as an Additional Director in the executive category and as a Whole-time Director (WTD), effective August 12, 2026. The Board of Directors approved the dual appointment during its meeting held on Wednesday, August 12, 2026, at its registered office in Agra. Goyal’s tenure as WTD spans five years, concluding on August 11, 2031, while his role as Additional Director remains valid until the conclusion of the ensuing Annual General Meeting (AGM). Both appointments are subject to final ratification by shareholders at the upcoming AGM.

The appointments were made pursuant to Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III. The company also cited compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The Nomination and Remuneration Committee recommended the appointments to the Board prior to their approval.

Goyal brings over 21 years of experience in bullion trading and more than 14 years in the real estate business to the role. He holds a graduate degree and is described as having expertise in business development and managing complex corporate issues. At 45 years old, he is the son of Late Shri Om Prakash Agarwal.

The filing discloses significant familial relationships within the company’s leadership. Moon Goyal is the cousin brother of Satish Kumar Goyal, the Managing Director, and Ashok Kumar Goyal, the Chairman and Whole-Time Director. This consolidation of executive roles within the family structure marks a notable shift in the company’s governance composition.

Appointment Details

Satish Kumar Goyal, Managing Director, signed the intimation letter submitted to the BSE Limited Corporate Compliance Department on August 12, 2026.