Dhanlaxmi Cotex Limited concluded its 40th Annual General Meeting on September 29, 2026, with both proposed resolutions passing unanimously. The company submitted the scrutinizer's report and voting results to the Bombay Stock Exchange, confirming that all members voted in favour of the agenda items.

Meeting proceedings and attendance

The meeting commenced at 11:32 am and concluded at 11:59 am IST. A total of 24 members attended the session via electronic means. Mahesh S. Jhawar, Managing Director and Chairman, presided over the proceedings. Mrs. Arti Jain, Company Secretary and Compliance Officer, managed the procedural aspects of the meeting.

The following directors and key managerial personnel were present:

Resolutions passed and voting details

Shareholders considered and adopted the annual standalone financial statements, including the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss, and the Cash Flow Statement for FY26. Additionally, the members approved the reappointment of Payal Ankur Bankda as a director, who retired by rotation under Section 152(6) of the Companies Act, 2013.

Pursuant to Regulation 44(3) of SEBI (LODR) Regulations, 2015, the company disclosed detailed voting results. For both Resolution No. 1 (Adoption of Financial Statements) and Resolution No. 2 (Reappointment of Director), the voting pattern was identical:

The total outstanding shares stood at 48,71,350, with 35,17,960 votes polled, representing a turnout of 72.22%. The scrutinizer, Pankaj Trivedi, confirmed that no invalid votes were recorded across any category.

Voting and compliance details

Central Depository Services (India) Limited provided the e-voting facility. Remote e-voting was open from September 26, 2026, to September 28, 2026. Pankaj Trivedi, Company Secretary in Practice, served as the scrutinizer. The company stated that consolidated voting results would be declared within two working days and displayed on its website.

Dhanlaxmi Cotex has scheduled its 40th Annual General Meeting (AGM) for September 29, 2026, to approve its financial statements for FY26 and reappoint Mrs. Payal Ankur Bankda as a non-executive director.

The company reported a sharp decline in profitability, with net profit after tax falling 98.55% year-on-year to ₹8.38 lakh from ₹579.47 lakh in FY25. Total revenue contracted by 28.83% to ₹1,470.36 lakh, driven by a significant drop in other income despite growth in fabric sales.

Financial Performance

Revenue from operations decreased to ₹1,327.51 lakh from ₹1,421.40 lakh in the previous fiscal year. This decline was primarily attributed to a reduction in income from share trading activities, which fell to ₹450.81 lakh from ₹1,065.98 lakh. Conversely, revenue from the sale of fabrics and yarn surged to ₹876.70 lakh, up from ₹355.42 lakh.

Other income dropped sharply to ₹142.85 lakh from ₹644.69 lakh, significantly impacting total revenue. Profit before tax stood at ₹7.72 lakh compared to ₹706.35 lakh in FY25. The company recorded an other comprehensive loss of ₹177.27 lakh, resulting in a total comprehensive loss of ₹168.89 lakh.

What the Numbers Show

The divergence between operating revenue and total revenue highlights the company's heavy reliance on investment gains for overall profitability. While fabric trading revenues more than doubled, they were insufficient to offset the steep decline in other income, which constitutes a major portion of the company's earnings mix. This shift underscores a contraction in investment-related returns rather than operational weakness in its core textile trading business.

Corporate Governance and Board Changes

The AGM will seek approval for the reappointment of Mrs. Payal Ankur Bankda, who retires by rotation. During FY26, the company saw changes in key managerial personnel. Mr. Rahul Mahesh Jhawar resigned as Executive Director and CFO in December 2025. Mrs. Rajni Mahesh Jhawar was appointed as CFO in February 2026.

The statutory auditors, M/s. DAC & Co., issued a qualified opinion on the financial statements. The qualification relates to the company's potential requirement to register as an Investment NBFC, as financial assets constitute more than 50% of total assets and income from such assets exceeds 50% of gross income. Management stated this is a procedural matter with no material impact on operations.

Shareholder Information

The remote e-voting facility will be available from September 26 to September 28, 2026. The share transfer books will remain closed from September 22 to September 29, 2026. The company did not recommend any dividend for FY26.