Op Chains has scheduled its 25th Annual General Meeting (AGM) for Monday, September 21, 2026. The meeting will be held at the company’s registered office in Agra to adopt the audited financial statements for FY26 and approve key director appointments.

AGM and Voting Schedule

The company issued the notice for the 25th AGM on August 24, 2026. Members holding shares as of the cut-off date, Monday, September 14, 2026, are eligible to vote. The voting process includes both remote e-voting and physical ballot options.

Members who cast their votes via remote e-voting before the AGM may attend the meeting but cannot vote again. Those attending physically can vote using a ballot form.

Book Closure Period

Pursuant to Section 91 of the Companies Act, 2013, the company will close its Register of Members and Share Transfer Books from Tuesday, September 15, 2026, to Monday, September 21, 2026 (both days inclusive). This closure facilitates the determination of shareholders entitled to attend and vote at the AGM.

Financial Performance for FY26

The AGM agenda includes adopting the financial results for FY26, which showed a sharp decline in core operations. Revenue from operations fell to ₹1,93,30,103.99 thousand from ₹8,18,42,852.80 thousand in FY25. Profit after tax declined to ₹1,03,39,097.45 thousand from ₹2,71,45,297.46 thousand. Total income was ₹3,46,40,763.99 thousand, supported significantly by other income.

What the Numbers Show

Other income constituted a major portion of the company's total earnings. Interest received from YTT Industries accounted for ₹1,53,10,660.00, which exceeded the revenue from operations of ₹1,93,30,103.99. This indicates a heavy reliance on interest income from related-party loans rather than core trading activities for profitability.

Board Appointments and Resolutions

The AGM agenda includes the regularization and re-appointment of several directors:

• Ashok Kumar Goyal: Re-appointment as Whole Time Director upon retirement by rotation.
• Moon Goyal: Regularization as Executive Non-Independent Director and appointment as Whole-Time Director for five years.
• Satish Kumar Goyal: Re-appointment as Managing Director for a further period of five years.
• Swapnla Gupta: Regularization as Independent Director for five years.
• Praneeta Varshney: Regularization as Independent Director for five years.

Corporate Governance Updates

The company disclosed changes in its independent director composition during the year. Mr. Nikhil Sundrani and Mrs. Sohini Bansal ceased to be directors effective August 29, 2025. They were replaced by Mrs. Swapnla Gupta and Mrs. Praneeta Varshney, appointed as Additional Independent Directors in November 2025.

Related party transactions were conducted at arm's length. Significant transactions included sales to O.P. Chains Company worth ₹1,42,09,472.00 and loans outstanding with YTT Industries Private Limited amounting to ₹23,16,60,294.00.

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.