BSE: 512485
DHANLAXMI COTEX LTD.
A small BSE-listed entity based in Mumbai that operates in fabric trading and the trading of quoted shares, with FY26 revenue of Rs. 13.2751 crore and a net profit of Rs. 0.0838 crore against total assets of Rs. 69.6719 crore. The business reports a consolidated operating segment contributing Rs. 8.767 crore of FY26 segment revenue, and disclosures break activity into Fabrics Trading, Shares Trading, and Other Income streams. The Shares Trading division recorded a loss of Rs. 141.59 lakhs in FY26, a swing from profit in the prior year, and the Shares Trading segment also posted a negative EBIT across recent quarters. The statutory auditor has flagged for seven consecutive years that more than 50% of the company's total assets and gross income derive from financial assets, meaning it effectively meets the criteria to register as an Investment NBFC under RBI rules, though it does not hold such a registration. Operating costs were modest at 9.3% employee costs and 8.0% other opex of revenue, with depreciation at 1.9% and reported materials at 0% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fabrics Trading, Shares Trading, Other Income. Small, thin-margin trading entity in fabrics and quoted shares
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 19 | 24 | 26 | 14 | 13 |
| EBITDA (ex other income) | 1 | (1) | 1 | 1 | (1) |
| margin % | 4.7 | (4.8) | 4.6 | 5.0 | (8.3) |
| Owners' profit | 3 | 0 | 3 | 6 | 0 |
| EPS, as reported (₹) | 6.80 | 0.49 | 5.92 | 11.90 | 0.17 |
| ROE % · ROCE % | 7.2 · 8.4 | 0.5 · 0.7 | 4.0 · 4.8 | 7.9 · 9.7 | 0.1 · 0.1 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (6) | (4) | 14 | 2 | (2) |
| Capex | (1) | (0) | (14) | (1) | (3) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 7 | 2 | 1 | 2 | 4 | 5 | 3 |
| Profit before tax | 2 | 4 | 4 | (2) | (1) | 0 | 1 | (0) |
| Net profit | 1 | 3 | 3 | (2) | (1) | 0 | 1 | (0) |
| EPS (₹) | 2.73 | 6.82 | 6.93 | (4.30) | (1.53) | 0.56 | 1.43 | (0.46) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Income From Fabrics Trading | 9 | 59.6 |
| Income From Shares Trading | 4 | 29.4 |
| Other Income | 2 | 11.0 |
| Total, before eliminations | 15 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.7 | 0.9 | 64 of 150 | 57% |
| ROCE | 0.1 | 2.1 | 128 of 177 | 28% |
| ROE | 0.1 | 2.3 | 114 of 158 | 28% |
| Debt / Equity | 0.0 | 0.1 | 53 of 154 | 66% |
| EBITDA margin | (5.6) | 4.5 | 114 of 137 | 17% |
| Revenue growth | 188.6 | (8.6) | 18 of 135 | 87% |
| Profit growth | 89.4 | 0.6 | 55 of 157 | 65% |
| Market cap | 51 | 21 | 58 of 179 | 68% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Routine compliance filing for Q2 FY27 dematerialisation certificate | compliance | minimal | — | — |
| 29 Sept 2026 · AGM 2026 results - both resolutions passed unanimously | compliance | minimal | — | — |
| 29 Sept 2026 · 40th AGM results: both resolutions passed unanimously | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 40th AGM held on Sept 29, 2026 via video conferencing; voting results pending | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 40th AGM held on 29 Sep 2026, two ordinary resolutions tabled | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Annual Report FY 2025-26 weblink shared with shareholders; 40th AGM on 29 Sep 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Dhanlaxmi Cotex files newspaper publication for 40th AGM and e-voting details | compliance | minimal | — | — |
| 5 Sept 2026 · 40th AGM notice and Integrated Annual Report for FY 2025-26 filed | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · Dhanlaxmi Cotex 40th AGM notice and annual report for FY 2025-26 | board shareholder meetings | medium | — | — |
| 29 Aug 2026 · Dhanlaxmi Cotex publishes 40th AGM notice; meeting on Sep 29, 2026 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.