O. P. Chains holds Rs 38.79 crore in loans, receivables

O. P. Chains Limited held Rs 38.7880 crore in long-term loans and advances and trade receivables at September 30, 2026, accounting for Rs 39.2119 crore of total assets, while cash and cash equivalents stood at Rs 3.40 lakh and both long-term and short-term borrowings were nil.

What makes O. P. Chains’ asset base concentrated?

O. P. Chains’ asset base was concentrated in Rs 23.7905 crore of long-term loans and advances and Rs 14.9975 crore of trade receivables as at September 30, 2026. Together, these two balances totalled Rs 38.7880 crore, or about 98.9% of the company’s Rs 39.2119 crore total assets.

Long-term loans and advances were classified as non-current assets, which totalled Rs 23.8084 crore at September 30. Property, plant and equipment accounted for Rs 1.21 lakh and other non-current assets were Rs 58,000, while non-current investments and deferred tax assets were nil.

Trade receivables formed the largest part of current assets, which totalled Rs 15.4035 crore at September 30, 2026. The balance of current assets included Rs 37.18 lakh of other current assets, Rs 3.40 lakh of cash and cash equivalents, and Rs 2,000 of short-term loans and advances; inventories and current investments were nil.

How did O. P. Chains’ assets change from March 2026?

O. P. Chains’ total assets increased by Rs 80.24 lakh from Rs 38.4095 crore on March 31, 2026 to Rs 39.2119 crore on September 30, 2026. The principal movement was a Rs 60 lakh increase in long-term loans and advances, which rose from Rs 23.1905 crore to Rs 23.7905 crore.

Trade receivables were unchanged at Rs 14.9975 crore at both reporting dates. As a result, the growth in total assets during the six-month period did not come from a change in the reported receivables balance, but chiefly from the increase in long-term loans and advances.

Current assets rose by Rs 20.24 lakh to Rs 15.4035 crore from Rs 15.2011 crore. Other current assets increased by Rs 20.85 lakh to Rs 37.18 lakh from Rs 16.33 lakh, while cash and cash equivalents fell by Rs 63,000 to Rs 3.40 lakh from Rs 4.03 lakh. Property, plant and equipment remained Rs 1.21 lakh and other non-current assets remained Rs 58,000.

Does O. P. Chains have borrowings or trade payables?

O. P. Chains reported nil long-term borrowings and nil short-term borrowings at September 30, 2026, unchanged from March 31, 2026. The company also reported nil trade payables, including nil dues to micro and small enterprises and nil dues to other creditors.

Non-current liabilities were Rs 27,000 at both September 30 and March 31, consisting solely of deferred tax liabilities. Current liabilities increased to Rs 1.27 crore from Rs 38.76 lakh, as other current liabilities rose to Rs 91.65 lakh from Rs 92,000; short-term provisions declined to Rs 35.35 lakh from Rs 37.84 lakh.

Shareholders’ funds were Rs 37.9393 crore at September 30, 2026, down from Rs 38.0192 crore at March 31. Share capital was unchanged at Rs 6.85 crore, while reserves and surplus fell by Rs 7.99 lakh to Rs 31.0893 crore from Rs 31.1692 crore.

What does O. P. Chains’ cash position and half-year result show?

O. P. Chains reported Rs 3.40 lakh of cash and cash equivalents on September 30, 2026, compared with Rs 4.03 lakh on March 31, 2026. The reported cash balance was substantially smaller than the Rs 1.27 crore of current liabilities, Rs 14.9975 crore of trade receivables and Rs 23.7905 crore of long-term loans and advances.

For the half year ended September 30, 2026, O. P. Chains reported no revenue from operations and a loss for the period of Rs 7.98 lakh. Employee benefits expense was Rs 1.80 lakh and other expenses were Rs 6.10 lakh, producing total expenses of Rs 7.59 lakh; the corresponding half-year loss was Rs 7.53 lakh in September 2025.

The cash-flow statement carries a cash and cash equivalents balance of Rs 4.03 lakh at the end of the period, while the September 30 balance sheet reports Rs 3.40 lakh. The cash-flow table also shows a net decrease of Rs 63,000 and labels Rs 3.40 lakh as beginning cash, so its displayed opening and closing labels do not reconcile with that movement. The filing does not explain the difference.

What business activity is reflected in O. P. Chains’ balance sheet?

O. P. Chains identifies trading of precious and non-precious metals as its only business segment. It therefore states that segment reporting under Accounting Standard 17 does not apply, leaving no separate disclosure of assets, receivables or loans by precious-metal and non-precious-metal activity.

The September 2026 standalone results were approved by the board on November 14, 2026. Garima & Co., Chartered Accountants, issued a limited-review report stating that nothing had come to its attention indicating that the unaudited results, assets and liabilities statement, and cash-flow statement failed to provide required disclosures or contained a material misstatement.

The filing also records no investor complaints pending at the beginning of the quarter or unresolved on September 30, 2026. O. P. Chains’ disclosed share capital remained Rs 6.85 crore across March 31 and September 30, while the six-month loss reduced reserves and surplus by Rs 7.99 lakh.

Conclusion

O. P. Chains’ September 2026 balance sheet was overwhelmingly represented by Rs 23.7905 crore of long-term loans and advances and Rs 14.9975 crore of trade receivables. Total assets rose Rs 80.24 lakh over six months, primarily because long-term loans and advances increased Rs 60 lakh, while trade receivables remained unchanged and reported cash fell to Rs 3.40 lakh.

The next filing will show whether O. P. Chains changes the Rs 14.9975 crore receivables balance, further increases or reduces the Rs 23.7905 crore of long-term loans and advances, and restores operating revenue after reporting nil revenue for the half year ended September 30, 2026. It may also clarify the difference between the Rs 3.40 lakh September balance-sheet cash figure and the Rs 4.03 lakh cash-flow presentation.