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

The Board of Directors approved the notice on August 24, 2026. Shareholders holding shares as on the record date of September 14, 2026, are eligible to vote. The company is providing remote e-voting facilities through Bigshare Services Private Limited.

Financial Performance for FY26

The company reported a sharp decline in operational metrics for the fiscal year ended March 31, 2026. Revenue from operations fell significantly compared to the previous year. Net profit also contracted substantially.

Despite the decline in revenue, total income remained robust due to high other income. The Board decided not to recommend any dividend for the year under review.

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.