Scans

Tools

Home

Charts

Watchlist

Products

Dhanlaxmi Cotex Ltd

DHANCOT

BSE

₹110.400.00%16 Oct 2026

Reports

Trading

Dhanlaxmi Cotex Ltd

DHANCOT

BSE

₹110.40

0.00%

16 Oct 2026

SOICxStockScans Reports

Ask AI

Trading

Indices

Business Overview: What the company does, in plain English.

Dhanlaxmi Cotex began life in 1987 as a textiles company - the name “Cotex” is a relic of that origin - but today it is fundamentally an investment office that earns its living by trading quoted shares and managing a securities portfolio, with fabric sales now a secondary sideline. Founded by the Jhawar family, who still control over two-thirds of the company, it has evolved from a pure share-trading shop into a debt-free platform that also runs a professional advisory practice under the same roof. The recurring approach is simple: deploy the family’s own capital into liquid Indian equities, keep fixed costs to a two-person senior management team, and bolt on fee-based services that require brains, not balance sheets.

Business segments

Two engines, one balance sheet - a securities-trading core that puts the company’s own money to work in listed markets, and a professional-services practice that sells legal and financial advice to external clients.

1. Securities trading: where the company’s own capital is deployed

The company buys and sells quoted Indian shares from two distinct books - one for long-term holdings and one for active trading inventory - and lives off the gains, dividends and interest.

Two registers, two strategies - shares held for the long term sit in an Investment Register, while shares bought for resale are kept in a Trading Register and valued at market price, so the company can separate patient capital from trading bets.
Hedged against sharp falls - the company continuously monitors its equity exposure and, where it makes sense, uses futures and options to cushion the portfolio against sudden market drops.
Interest income is a material contributor - beyond trading gains and dividends, the company earns interest on loans it has extended, and those borrowers have been regular in repaying both principal and interest.
No debt, no currency risk - the company carries no borrowings and all its exposures are in Indian rupees, so it pays zero interest expense and is not vulnerable to exchange-rate swings.

2. Fabric trading: the legacy sideline

A small-scale resale of fabric that keeps the company’s original textile thread alive, contributing roughly a third of revenue but no physical inventory.

Pure trading, no manufacturing - the company buys and sells fabric without holding any physical stock, which means it avoids warehousing costs and inventory obsolescence risk.
Ancillary to the main game - fabric sales are reported inside the single “Finance and Share Trading” segment, confirming that this activity is run as a minor appendage rather than a standalone business.

Professional advisory services

A one-roof platform of company secretaries, chartered accountants, advocates and IP attorneys that sells regulatory and financial advice to manufacturing and service-sector clients - a fee-based business that runs alongside the securities portfolio.

Built from professional expertise, not capital - the practice draws on an associate partnership firm with over two decades of experience and senior partners who have worked with corporates and banks, so the company can offer domain-heavy advice without deploying its own investment capital.
Three service buckets under one roof - the offering is organised into Debt Solution and Project Finance (loan syndication, refinancing, trade finance), Corporate Advisory (due diligence, shared CFO services, financial structuring), and Startup Services (compliance, equity structuring, investor buy-outs), which together aim to be a single point of contact for a client’s professional needs.
Techno-savvy and speed-conscious - the practice promises quick turnaround times and uses modern digital tools, positioning itself as a fast, contemporary alternative in a field often dominated by traditional firms.

Group structure and partners

A tightly held family vehicle with no subsidiaries, no joint ventures, and a recently cleaned-up promoter roster - the Jhawars own over two-thirds, and the rest is public float.

Promoters hold 68.62% - Mahesh S. Jhawar (Chairman & Managing Director), Laxmi M. Jhawar and Rahul M. Jhawar (Executive Director & CFO) are the key individuals behind the controlling stake, with the remaining 31.38% held by the public.
No subsidiaries, no dividends - the company operates as a standalone entity with no holding company, no associate firms (a prior stake in Dhanlaxmi Fabrics Ltd was exited), and has not paid a dividend in any of the reported years.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹54Cr

Close Price

₹110.40

Industry

Trading

Price To Earnings

77.75

Price To Sales

3.07

Revenue

₹18Cr

Rev Gr TTM

Revenue Growth TTM

46.17%

PAT Gr TTM

PAT Growth TTM

-94.04%

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	13	4	4	4	7	2	1	2	4	5	3	6
Growth YoY Revenue Growth YoY%	18.7	-13.9	-14.0	-34.5	-42.4	-36.9	-76.8	-62.5	-39.8	108.7	189.7	269.6
Expenses ExpensesCr	12	3	4	4	6	3	2	2	4	5	3	6
Operating Profit Operating ProfitCr	0	0	0	1	2	0	-1	0	0	0	-1	-1
OPM OPM%	1.4	12.8	-12.8	15.4	23.1	-12.1	-152.9	-31.0	-2.1	-0.2	-19.8	-8.9
Other Income Other IncomeCr	1	1	0	1	2	4	-1	0	0	1	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	1	1	0	2	4	4	-2	-1	0	1	0	-1
Tax TaxCr	0	0	0	0	0	1	0	0	0	0	0	0
PAT PATCr	1	1	0	1	3	3	-2	-1	0	1	0	-1
Growth YoY PAT Growth YoY%	135.9	1,122.2	13.0	4.7	260.9	267.4	-422.5	-156.4	-91.9	-79.3	89.5	30.7
NPM NPM%	7.3	25.1	-10.7	31.6	45.9	146.3	-240.2	-47.5	6.2	14.5	-8.7	-8.9
EPS EPS₹	1.9	1.9	-0.8	2.7	6.8	6.9	-4.3	-1.5	0.6	1.4	-0.5	-0.1

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	13	4	4	4	7	2	1	2	4	5	3	6
Growth YoY Revenue Growth YoY%	18.7	-13.9	-14.0	-34.5	-42.4	-36.9	-76.8	-62.5	-39.8	108.7	189.7	269.6
Expenses ExpensesCr	12	3	4	4	6	3	2	2	4	5	3	6
Operating Profit Operating ProfitCr	0	0	0	1	2	0	-1	0	0	0	-1	-1
OPM OPM%	1.4	12.8	-12.8	15.4	23.1	-12.1	-152.9	-31.0	-2.1	-0.2	-19.8	-8.9
Other Income Other IncomeCr	1	1	0	1	2	4	-1	0	0	1	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	1	1	0	2	4	4	-2	-1	0	1	0	-1
Tax TaxCr	0	0	0	0	0	1	0	0	0	0	0	0
PAT PATCr	1	1	0	1	3	3	-2	-1	0	1	0	-1
Growth YoY PAT Growth YoY%	135.9	1,122.2	13.0	4.7	260.9	267.4	-422.5	-156.4	-91.9	-79.3	89.5	30.7
NPM NPM%	7.3	25.1	-10.7	31.6	45.9	146.3	-240.2	-47.5	6.2	14.5	-8.7	-8.9
EPS EPS₹	1.9	1.9	-0.8	2.7	6.8	6.9	-4.3	-1.5	0.6	1.4	-0.5	-0.1

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	22	14	29	5	5	5	19	23	26	15	13	18
Growth Revenue Growth%		-37.6	110.6	-83.0	3.4	-7.1	306.3	21.4	12.3	-44.4	-9.9	46.2
Expenses ExpensesCr	25	14	31	5	6	6	18	25	25	14	14	19
Operating Profit Operating ProfitCr	-3	-1	-2	-1	-1	-2	1	-2	1	1	-1	-1
OPM OPM%	-14.7	-4.4	-6.7	-11.7	-23.0	-37.0	4.2	-7.0	3.5	6.8	-10.0	-6.4
Other Income Other IncomeCr	3	1	3	1	5	2	3	2	3	6	2	2
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	1	0	4	0	4	0	3	7	0	0
Tax TaxCr	0	0	0	0	0	0	1	0	1	1	0	0
PAT PATCr	0	0	1	0	3	0	3	0	3	6	0	0
Growth PAT Growth%	-84.3	78.5	143.3	-58.9	796.4	-91.5	1,090.2	-92.8	1,117.9	100.8	-98.5	-94.0
NPM NPM%	0.9	2.7	3.1	7.5	64.8	5.9	17.3	1.0	11.1	40.0	0.6	1.3
EPS EPS₹	0.4	0.8	1.8	8.2	6.8	0.6	6.8	0.5	5.9	11.9	0.2	1.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	22	14	29	5	5	5	19	23	26	15	13	18
Growth Revenue Growth%		-37.6	110.6	-83.0	3.4	-7.1	306.3	21.4	12.3	-44.4	-9.9	46.2
Expenses ExpensesCr	25	14	31	5	6	6	18	25	25	14	14	19
Operating Profit Operating ProfitCr	-3	-1	-2	-1	-1	-2	1	-2	1	1	-1	-1
OPM OPM%	-14.7	-4.4	-6.7	-11.7	-23.0	-37.0	4.2	-7.0	3.5	6.8	-10.0	-6.4
Other Income Other IncomeCr	3	1	3	1	5	2	3	2	3	6	2	2
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	1	0	4	0	4	0	3	7	0	0
Tax TaxCr	0	0	0	0	0	0	1	0	1	1	0	0
PAT PATCr	0	0	1	0	3	0	3	0	3	6	0	0
Growth PAT Growth%	-84.3	78.5	143.3	-58.9	796.4	-91.5	1,090.2	-92.8	1,117.9	100.8	-98.5	-94.0
NPM NPM%	0.9	2.7	3.1	7.5	64.8	5.9	17.3	1.0	11.1	40.0	0.6	1.3
EPS EPS₹	0.4	0.8	1.8	8.2	6.8	0.6	6.8	0.5	5.9	11.9	0.2	1.4

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	5	5	5	5	5	5	5	5	5	5	5
Reserves ReservesCr	26	30	31	31	17	31	41	45	67	68	64
Current Liabilities Current LiabilitiesCr	0	0	0	0	0	0	0	1	0	0	0
Non Current Liabilities Non Current LiabilitiesCr	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities Total LiabilitiesCr	31	35	37	36	23	36	47	50	72	73	70
Current Assets Current AssetsCr	23	26	25	21	9	18	28	33	52	36	30
Non Current Assets Non Current AssetsCr	8	9	12	16	13	18	18	17	20	37	40
Total Assets Total AssetsCr	31	35	37	36	23	36	47	50	72	73	70

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	5	5	5	5	5	5	5	5	5	5	5
Reserves ReservesCr	26	30	31	31	17	31	41	45	67	68	64
Current Liabilities Current LiabilitiesCr	0	0	0	0	0	0	0	1	0	0	0
Non Current Liabilities Non Current LiabilitiesCr	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities Total LiabilitiesCr	31	35	37	36	23	36	47	50	72	73	70
Current Assets Current AssetsCr	23	26	25	21	9	18	28	33	52	36	30
Non Current Assets Non Current AssetsCr	8	9	12	16	13	18	18	17	20	37	40
Total Assets Total AssetsCr	31	35	37	36	23	36	47	50	72	73	70

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-4	7	-6	1	-9	-3	-6	-4	14	2	-2
Investing Cash Flow Investing Cash FlowCr	4	-2	0	-1	9	5	6	4	-16	-2	1
Financing Cash Flow Financing Cash FlowCr	0	0	0	0	0	0	0	0	0	0	0
Net Cash Flow Net Cash FlowCr	0	5	-6	0	0	2	0	1	-2	0	0
Free Cash Flow Free Cash FlowCr	-4	7	-6	1	-9	-3	-7	-4	14	2	-2
CFO To PAT CFO To PAT%	-2,007.9	1,827.5	-629.1	196.9	-279.9	-1,117.4	-184.8	-1,552.3	484.9	32.7	-2,431.0
CFO To EBITDA CFO To EBITDA%	127.8	-1,104.7	290.6	-126.0	790.7	178.7	-764.5	226.9	1,531.1	190.5	156.1

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-4	7	-6	1	-9	-3	-6	-4	14	2	-2
Investing Cash Flow Investing Cash FlowCr	4	-2	0	-1	9	5	6	4	-16	-2	1
Financing Cash Flow Financing Cash FlowCr	0	0	0	0	0	0	0	0	0	0	0
Net Cash Flow Net Cash FlowCr	0	5	-6	0	0	2	0	1	-2	0	0
Free Cash Flow Free Cash FlowCr	-4	7	-6	1	-9	-3	-7	-4	14	2	-2
CFO To PAT CFO To PAT%	-2,007.9	1,827.5	-629.1	196.9	-279.9	-1,117.4	-184.8	-1,552.3	484.9	32.7	-2,431.0
CFO To EBITDA CFO To EBITDA%	127.8	-1,104.7	290.6	-126.0	790.7	178.7	-764.5	226.9	1,531.1	190.5	156.1

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr				12		6	43	44	30	162	50	54
Price To Earnings Price To Earnings				33.1		22.9	13.1	182.3	10.5	27.9	598.4	77.8
Price To Sales Price To Sales				2.1		0.9	1.9	1.7	1.1	11.4	3.7	3.1
Price To Book Price To Book				0.3		0.2	0.9	0.9	0.4	2.2	0.7	0.8
EV To EBITDA EV To EBITDA				-20.2		-2.6	51.6	-25.4	32.3	162.2	-38.1	-48.1
Profitability Ratios Profitability Ratios
GPM GPM%	12.1	8.0	1.0	7.5	-0.1	-18.6	11.9	2.1	11.1	25.6	7.1	7.1
OPM OPM%	-14.7	-4.4	-6.7	-11.7	-23.0	-37.0	4.2	-7.0	3.5	6.8	-10.0	-6.4
NPM NPM%	0.9	2.7	3.1	7.5	64.8	5.9	17.3	1.0	11.1	40.0	0.6	1.3
ROCE ROCE%	0.7	1.2	2.9	1.1	16.2	0.8	8.4	0.7	4.8	9.7	0.1	0.1
ROE ROE%	0.7	1.0	2.5	1.0	14.7	0.8	7.2	0.5	4.0	8.0	0.1	0.1
ROA ROA%	0.7	1.0	2.4	1.0	14.5	0.8	7.1	0.5	4.0	7.9	0.1	0.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr				12		6	43	44	30	162	50	54
Price To Earnings Price To Earnings				33.1		22.9	13.1	182.3	10.5	27.9	598.4	77.8
Price To Sales Price To Sales				2.1		0.9	1.9	1.7	1.1	11.4	3.7	3.1
Price To Book Price To Book				0.3		0.2	0.9	0.9	0.4	2.2	0.7	0.8
EV To EBITDA EV To EBITDA				-20.2		-2.6	51.6	-25.4	32.3	162.2	-38.1	-48.1
Profitability Ratios Profitability Ratios
GPM GPM%	12.1	8.0	1.0	7.5	-0.1	-18.6	11.9	2.1	11.1	25.6	7.1	7.1
OPM OPM%	-14.7	-4.4	-6.7	-11.7	-23.0	-37.0	4.2	-7.0	3.5	6.8	-10.0	-6.4
NPM NPM%	0.9	2.7	3.1	7.5	64.8	5.9	17.3	1.0	11.1	40.0	0.6	1.3
ROCE ROCE%	0.7	1.2	2.9	1.1	16.2	0.8	8.4	0.7	4.8	9.7	0.1	0.1
ROE ROE%	0.7	1.0	2.5	1.0	14.7	0.8	7.2	0.5	4.0	8.0	0.1	0.1
ROA ROA%	0.7	1.0	2.4	1.0	14.5	0.8	7.1	0.5	4.0	7.9	0.1	0.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	SSTL	SEML	GUJARATPOLY	DHANCOT	SHINEFASH	VIVAA	HIRAUTO
Market CapitalizationMkt CapCr	54	54	54	54	54	53	53
Close PriceClose₹	19.75	28.14	63.00	110.40	19.99	135.00	193.00
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	13.17	5.47	2.08	77.75	17.09	83.33
Price To SalesPS	0.12	0.31	3.03	3.07	0.53	0.19	0.44
RevenueRevenueCr	433	174	18	18	102	285	120
Revenue Growth TTMRev Gr TTM%	-16.6%		0.8%	46.2%	25.0%	-0.9%	-32.6%
PAT Growth TTMPAT Gr TTM%	-34.1%		480.5%	-94.0%	-60.4%	-16.1%	-270.8%

	SSTL	SEML	GUJARATPOLY	DHANCOT	SHINEFASH	VIVAA	HIRAUTO
Market CapitalizationMkt CapCr	54	54	54	54	54	53	53
Close PriceClose₹	19.75	28.14	63.00	110.40	19.99	135.00	193.00
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	13.17	5.47	2.08	77.75	17.09	83.33
Price To SalesPS	0.12	0.31	3.03	3.07	0.53	0.19	0.44
RevenueRevenueCr	433	174	18	18	102	285	120
Revenue Growth TTMRev Gr TTM%	-16.6%		0.8%	46.2%	25.0%	-0.9%	-32.6%
PAT Growth TTMPAT Gr TTM%	-34.1%		480.5%	-94.0%	-60.4%	-16.1%	-270.8%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26