MarketFriction

Dhanlaxmi Bank Ltd

NSE DHANBANK · BSE 532180 · Private Sector Bank
₹26.97 -2.00%
NSE close2026-10-01
52 week range19.45 - 36.85
Market cap₹1,115 Cr.
P/E9.65
Price band 20% Delivery 46.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue304308306306329335351368384407443449
Interest183194201206208206216229242253256272
Expenses118147135140140151150166153180177177
Financing Profit3-33-30-40-19-22-16-27-11-25101
Financing Margin %1%-11%-10%-13%-6%-7%-5%-7%-3%-6%2%0%
Other Income243641325242433935496935
Depreciation000000000000
Profit before tax26311-83320271223247936
Tax %12%0%69%0%21%0%-7%0%0%0%45%30%
Net Profit2333-82620291223244325
EPS in Rs0.590.080.08-0.200.650.500.730.310.590.611.100.63
Gross NPA %5.36%4.81%4.05%4.04%3.82%3.53%2.98%3.22%3.10%2.36%1.89%1.82%
Net NPA %1.29%1.27%1.25%1.26%1.12%0.86%0.99%1.13%1.12%1.11%0.51%0.47%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue1,2041,0891,0139719889319171,0711,2071,3201,6011,683
Interest9007576686256146015545957498379791,022
Expenses566410460377427394474498515556647687
Financing Profit-261-78-114-30-53-64-112-22-57-72-24-26
Financing Margin %-22%-7%-11%-3%-5%-7%-12%-2%-5%-5%-2%-2%
Other Income771111025311312216975153169192188
Depreciation25201311131520212525300
Profit before tax-20912-2512464337327072138162
Tax %-0%0%0%0%-43%13%3%-56%18%7%26%
Net Profit-20912-2512663736495867103115
EPS in Rs-7.570.38-0.630.301.670.940.911.251.461.692.602.93
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth3%11%14%22%
Compounded Profit Growth10%22%28%33%
Stock Price CAGR4%17%6%14%
Return on Equity5%6%6%7%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital177177210253253253253253253253395395
Reserves5463314454965085746116477087771,0011,079
Deposits12,67711,49911,29410,92010,60310,90411,71212,40313,35214,29016,01318,643
Borrowing646107145392200178150150492299200737
Other Liabilities305349240225234357370343327343328384
Total Liabilities14,35212,46312,33312,28611,79912,26513,09613,79615,13215,96217,93721,238
Fixed Assets184152183173169179225221251267266284
CWIP1927313133350078157
Investments4,4973,7924,1944,3654,0373,6824,4394,0443,8893,9423,9554,257
Other Assets9,6528,4927,9257,7187,5608,3698,4339,53110,98611,74513,70016,690
Total Assets14,35212,46312,33312,28611,79912,26513,09613,79615,13215,96217,93721,238
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-605-298-99-203-144554-9013921617-5631
Cash from Investing Activity-10-9-11-3-10-25-27-388-106111-32-790
Cash from Financing Activity230-15084270-95-23-28000142150
Net Cash Flow-385-457-2664-248506-144-249111128105-8
Free Cash Flow-615-307-110-206-154529-117123182-24-37600
CFO/OP-89%-47%-15%-37%-21%99%-17%32%38%4%-2%66%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %-33%-34%2%-4%2%8%4%4%5%6%5%7%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
FIIs10.76%11.89%6.10%5.93%4.97%6.95%15.26%15.52%15.27%15.32%15.42%14.21%
DIIs0.07%0.07%0.07%0.07%0.07%0.16%0.05%0.05%0.05%0.05%0.05%0.05%
Public89.16%88.04%93.82%93.99%94.96%92.90%84.69%84.43%84.68%84.63%84.53%85.74%
No. of Shareholders1,18,0221,25,3892,12,8692,00,5581,85,8221,84,1281,84,5431,81,2971,79,7031,75,7091,72,0471,63,114

Fundamentals

Market Cap₹ 1,115 Cr.
Current Price₹ 28.4
Stock P/E9.65
Book Value₹ 38.3
ROCE5.81 %
ROE7.15 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)22%
Compounded Profit Growth (TTM)33%
Standalone figures.
Valuation
Market capRs 1,065 Cr
Enterprise valueRs 19,496 Cr
P/E (TTM)9.22x
Price to book0.72x
Price to sales0.63x
EV / EBITDA16.06x
EV / EBIT16.47x
EV / sales11.58x
Price to cash flow1.69x
Earnings yield10.85%
P/E, 3-year average13.27x
P/B, 3-year average0.73x
P/E, 5-year average10.58x
P/B, 5-year average0.56x
Profitability
Operating margin (excl. other income)59.63%
Operating margin (incl. other income)71.64%
EBITDA margin72.12%
Pre-tax margin9.60%
Net profit margin6.86%
Net margin, latest quarter5.54%
ROE7.16%
ROCE5.81%
ROA0.52%
ROE, 3-year average6.16%
ROCE, 3-year average5.55%
ROA, 3-year average0.43%
ROE, 5-year average5.57%
ROCE, 5-year average5.12%
ROA, 5-year average0.38%
ROIC (approx.)4.42%
Tax rate25.66%
Other income / net worth13.05%
Growth
Sales growth (latest year)21.34%
Profit growth (latest year)54.19%
Sales CAGR, 3 years14.34%
Sales CAGR, 5 years11.46%
Profit CAGR, 3 years27.68%
Profit CAGR, 5 years22.54%
Sales growth QoQ1.42%
Profit growth QoQ-42.72%
Sales growth YoY (latest quarter)22.19%
Profit growth YoY (latest quarter)104.52%
Per share
EPS (TTM)Rs 2.93
EPS (latest year)Rs 2.60
EPS (latest quarter)Rs 0.63
EPS, 3-year averageRs 2.19
EPS, 5-year averageRs 1.99
Book value per shareRs 37.34
Sales per shareRs 42.64
Cash flow per shareRs 16.00
Free cash flow per shareRs 15.20
Efficiency
Asset turnover0.08x
Fixed asset turnover5.65x
Leverage
Total debtRs 19,380 Cr
Cash and bankRs 948 Cr
Net debtRs 18,432 Cr
Debt to equity13.15x
Net debt / EBITDA15.19x
Interest coverage1.16x
Owners' fund to total sources6.94%
Debt to assets91.25%
Cash flow
Cash from Operating Activity (latest year)Rs 631 Cr
Cash from Investing Activity (latest year)Rs -790 Cr
Cash from Financing Activity (latest year)Rs 150 Cr
Net Cash Flow (latest year)Rs -8 Cr
Free cash flow (latest year)Rs 600 Cr
FCFE (approx.: FCF + change in debt)Rs 3,766 Cr
Cash from ops / profit, 5 years3.19x
Sales to cash flow2.54x
Statement figures
Net sales (TTM)Rs 1,683 Cr
Net sales (latest year)Rs 1,601 Cr
Sales (latest quarter)Rs 449 Cr
Operating profit excl. other income (latest year)Rs 955 Cr
Operating profit (latest quarter)Rs 272 Cr
Other income (TTM)Rs 188 Cr
EBITDA (TTM)Rs 1,214 Cr
PBDT (TTM)Rs 192 Cr
Profit before tax (TTM)Rs 162 Cr
Tax (latest year)Rs 35 Cr
Net profit (TTM)Rs 115 Cr
Net profit (latest year)Rs 103 Cr
Net profit (latest quarter)Rs 25 Cr
Depreciation (TTM)Rs 30 Cr
Interest (TTM)Rs 1,022 Cr
Cost of goods sold (latest year)Rs 62 Cr
Total expenditure (latest year)Rs 647 Cr
Total income (latest year)Rs 1,794 Cr
Share capitalRs 395 Cr
ReservesRs 1,079 Cr
Shareholders' fundsRs 1,474 Cr
Total assetsRs 21,238 Cr
Net blockRs 284 Cr
Capital work in progressRs 7 Cr
InvestmentsRs 4,257 Cr
Other liabilitiesRs 384 Cr
Shares outstanding (crore)39.47
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 9.2 is at the 13th percentile of its own 8.4-year range (median 18.1, low 7.1, high 127.7).
P/B 0.72 is at the 36th percentile (median 0.79).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodDHANBANKNifty 50Difference
1 week-9.1%-2.8% -6.4 pts
1 month-15.9%-6.8% -9.1 pts
3 months-20.9%-7.6% -13.3 pts
6 months+37.3%+0.4% +36.9 pts
1 year+5.6%-9.9% +15.5 pts
2 years-30.0%-13.6% -16.4 pts
3 years-7.5%+14.2% -21.7 pts
5 years+67.5%+27.9% +39.6 pts

Red flags

F-score 7 of 8
explainLow interest cover Interest cover 1.1x in 2026
lookProfit leans on other income Other income was 139% of pre-tax profit in 2026
lookAuditor change Auditor change 2026-09-23: Dhanlaxmi Bank Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Revenue ₹449 Cr +22.0% vs Jun 2025. Net profit ₹25 Cr +108.3%.
Against our estimate for Jun 2026: sales -1.5%, profit -7.7% in line. Our estimate for Sep 2026: sales Rs 477 Cr, profit Rs 28 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-12-27Rights 14:25 @ Premium Rs 11/-
2024-09-24Annual General Meeting
2023-09-22Annual General Meeting
2022-12-23Annual General Meeting
2022-11-04Extra- Ordinary General Meeting
2021-09-22 Annual General Meeting
2020-09-23 Annual General Meeting
2019-08-22 Annual General Meeting
2018-09-19 Annual General Meeting
2017-09-22 Annual General Meeting(Book Closure Dates Revised)
2016-09-22 Annual General Meeting
2015-09-22 Annual General Meeting
2014-09-15Annual General Meeting
2013-08-22Annual General Meeting
2012-09-13Annual General Meeting
2011-06-10Annual General Meeting And Dividend Re.0.50 Per Share
2010-07-07Annual General Meeting And Final Dividend Re.1/- Per Share
2009-07-16Agm/Div-Re.1/- Per Share
2008-09-11Agm/Dividend - 5%
2008-01-23Rights-Eq 1:1@Prem Rs 52
2007-09-14Agm
2006-09-11Agm/Dividend-5% Purpose Revised
DateTypeWhat it says
2026-10-01General UpdatesBusiness Updates for the Half Year ended September 30, 2026
2026-09-23Shareholder meetingProceedings of Annual General Meeting held on September 23, 2026
2026-09-23Change in AuditorsChange in Auditors of the company.
2026-09-23Director changeChange in Director(s) of the company.
2026-09-23Shareholder meetingOutcome of 99th Annual General Meeting
2026-09-23Shareholder meetingVoting results.
2026-09-01General UpdatesGeneral Updates
2026-08-31Record DateRecord date for the purpose of MT is 17-Sep-2026.
2026-08-31Shareholder meetingNotice of 99th Annual General Meeting to be held on September 23, 2026
2026-08-20General UpdatesGeneral Updates
2026-08-19Credit RatingCredit Rating
2026-08-19General UpdatesGeneral Updates
2026-08-19Board meeting outcomeOutcome of Board Meeting held on August 19, 2026.
2026-08-07Director changeChange in Director(s) of the company.
2026-07-29Director changeChange in Director(s) of the company.
2026-07-29Change in ManagementChange in Management
2026-07-29Board meeting outcomeDhanlaxmi Bank Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-10General UpdatesUpdates on appointment of Chief Financial Officer of the Bank
2026-07-06Change in ManagementAppointment of Chief Vigilance Officer
2026-07-01General UpdatesBusiness Updates for the quarter ended June 30, 2026
2026-06-15Change in ManagementChange in Management
2026-05-25CessationCessation of Mr Balasubramanian A D as Other of the company w.e.f. May 25, 2026.
2026-04-28Board meeting outcomeDhanlaxmi Bank Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-07General UpdatesGeneral Updates
2026-04-02General UpdatesBusiness Updates for the Year ended March 31,2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-08-17NCLTDHANLAXMI BANK LIMITED Vs REAL VIDEO IMPACT PRIVATE LIMITED
2021-08-12NCLTDHANLAXMI BANK LIMITED Vs REAL VIDEO IMPACT PRIVATE LIMITED
2020-11-18NCLATDhanlaxmi Bank VS Royal Splendour Developers Pvt Ltd & Ors.
2020-10-09NCLATDhanlaxmi Bank VS Royal Splendour Developers Pvt Ltd & Ors.
2020-09-15NCLATDhanlaxmi Bank VS Royal Splendour Developers Pvt Ltd & Ors.
2020-08-19NCLATDhanlaxmi Bank VS Royal Splendour Developers Pvt Ltd & Ors.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Dhanlaxmi Bank Ltd?

Dhanlaxmi Bank Ltd (DHANBANK) has a market capitalisation of Rs 1,115 Cr. at the 2026-10-01 close.

What is the P/E ratio of Dhanlaxmi Bank Ltd?

Dhanlaxmi Bank Ltd trades at a P/E of 9.65 on trailing twelve-month profit, at the 2026-10-01 close.

What were Dhanlaxmi Bank Ltd's latest quarterly results?

In the Jun 2026 quarter, Dhanlaxmi Bank Ltd revenue was Rs 449 Cr (+22.0% vs Jun 2025) and net profit was Rs 25 Cr.

What is the 52-week high and low of Dhanlaxmi Bank Ltd?

The 52-week high is Rs 36.85 and the 52-week low is Rs 19.45.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03