MONARCHFinancial Services

Monarch Networth Capital Limited

Stockbroking & Allied · ISIN INE903D01011 · BSE 511551 · NSE EQ · FV ₹10
Last price
₹351
+1.48%today
What this company does

Monarch Networth Capital Limited operates in Stockbroking & Allied, part of the Financial Services sector. It booked ₹123 cr of revenue in its latest quarter (Q2 FY27) and kept 45.9% of sales as profit. It is the 9th largest of 9 Stockbroking & Allied companies we track, by market value.

“Monarch Networth Capital Limited (hereafter FY25 FY30 referred as ‘MNCL’ or ‘the Company’) is a prominent player within the Indian financial services industry. The Indian equity market is also in the spotlight for The firm has garnered three decades of experience its IPO action.”
In the report:
79out of 100
Equitytale Health Score
Solid

Healthier than 79% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 25–253 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
50

At close. Not part of the score.

Profitability & returns86

How much profit it earns on the money it employs

Cash quality61

Whether reported profit actually arrives as cash

Growth & consistency92

Whether sales and profit have grown, and how steadily

Valuation56

What today's price implies, against our models or its peers

Governance & risk85

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 46% net margin
✓ Sales up 48% vs last year
✓ Profit up 26% vs last year
✓ Promoters hold 54%
✓ Strong 21% return on equity
✓ Virtually debt-free
Watch-outs
! 5.5% of promoter stake pledged
! Operating cash flow is negative

What if I invest in MONARCH?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹351▲ +1.48%
latest close · 2026-11-04
52-wk low ₹68193 sessions so far52-wk high ₹407
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio12.3Low
LowAverageHigh
P/B ratio2.61Moderate
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity21.2%Strong
WeakFairStrong ▸15%
Net margin45.9%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.08Comfortable
LowModerateHigh ▸1
More figures
Market cap
₹2,782 cr
Book value
₹134
EPS
₹7.13
latest quarter
Net debt
—
Enterprise value
—
EBITDA
—
EBIT
—
Operating margin
—
Return on assets
14.1%
Earnings yield
8.13%
P/S
5.65
Sales / share
₹62.1
Tax rate
21.5%
Face value
₹10
Shares
7.9 cr
Working capital
—
Current assets
—
Current liabilities
—
Delivery %
51.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹268 vs market price ₹351 — price is 31% above it
Safety cushion-30.7%(target ≥ +20%)
Models span ₹264–₹273, midpoint ₹268
Model ₹268
Price ₹351
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹123 cr
Other Income₹37.6 L
Total Income₹124 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹12 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹12 cr
Total Expenses₹51 cr
Profit before Tax₹72 cr
Tax Expense₹16 cr
Net Profit₹57 cr
Net margin on total income45.8%
Where the money goes · Q2 FY27
% of total income
Employee benefit expense₹12 cr9.9%
Finance costs₹3 cr2.3%
Depreciation & amortisation₹2 cr1.9%
Other expenses₹34 cr27.5%
Tax expense₹16 cr12.6%
Profit for the period₹57 cr45.8%
Total income ₹124 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue100 cr91 cr123 cr
Total income100 cr91 cr124 cr
Expenses36 cr35 cr51 cr
Profit before tax63 cr56 cr72 cr
Tax18 cr10 cr16 cr
Net profit (owners' share)46 cr45 cr57 cr
Net margin (owners' share, on revenue)45.6%49.7%45.9%
EPS (₹)5.755.707.13
YoY (latest quarter): total income +48.1% · net profit +25.8%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹1,605 cr
Shareholder equity
₹1,065 cr
parent shareholders
Total debt
₹87 cr
Cash
₹38 cr
Cash flow · H1 FY27
Operating
₹-234 cr
Investing
₹-44 cr
Financing
₹44 cr
Peer comparison
Stockbroking & Allied · by market value
CompanyPriceMarket capP/E
Billionbrains Garage Ventures Limited₹206₹1.29 L cr44.0
Motilal Oswal Financial Services Limited₹1,010₹60,901 cr14.1
360 ONE WAM LIMITED₹1,065₹43,441 cr36.1
Nuvama Wealth Management Limited₹1,866₹34,067 cr27.8
Angel One Limited₹310₹28,389 cr21.1
IIFL Capital Services Limited₹348₹10,973 cr21.4
Share India Securities Limited₹184₹4,030 cr8.1
Anand Rathi Share and Stock Brokers Limited₹481₹3,032 cr18.1
Monarch Networth Capital Limitedthis company₹346₹2,742 cr12.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.29%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 21 Aug 2026
ActionDetailEx-date
Dividend₹1 / share21 Aug 2026
Dividend₹1 / share19 Sep 2025
Bonus issue1:113 Sep 2024
Dividend₹1 / share2 Aug 2024
Dividend₹1 / share15 Sep 2023
Dividend₹1 / share14 Sep 2022
Who owns it · 2026-09-30
⚑ 5.5% pledged
Promoter
53.8%
FII / Foreign
3.0%
DII / Domestic
0.1%
Retail / others
43.0%
Promoter stake down 2.1% over the last 12 quarters.
Smart-money activity
Insider trades
SoldShailen Shah · Promoters1.00 L28 Jul 25
BoughtYANTRA ESOLARINDIA PRIVATE LIMITED · -20,000 · ₹87.5 L29 Dec 23
BoughtYANTRA ESOLARINDIA PRIVATE LIMITED · -1.04 L · ₹4.7 cr22 Dec 23
Bulk / block deals
short— · NSE49412 Feb 26
short— · NSE1215 Sep 25
short— · NSE13 Sep 25
Stake changes
BoughtMonarch Infraparks Private Limited · promoter→ 6.17% · 50,00027 Mar 26
BoughtMonarch Infrapark Private Limited · promoter→ 6.10% · 36,59325 Mar 26
BoughtMonarch Infrapark Private Limited · promoter→ 6.05% · 1.74 L24 Mar 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Sep 2026
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026 together with the Reports of the Board of Directors and the Statutory Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
1.69 L votes for, 0 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 together with the Report of the Statutory Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
1.69 L votes for, 0 against · 0% of mutual funds and other big investors said no
3
To declare Final Dividend on Equity Shares for the Financial Year ended March 31, 2026
Backed by 100% of shareholders other than promotersneeded 50%
1.69 L votes for, 0 against · 0% of mutual funds and other big investors said no
4
To appoint a Director in place of Mr. Vaibhav Shah (DIN: 00572666), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 78% of shareholders other than promotersneeded 50%
1.31 L votes for, 37,899 against · 69% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 16 named members
owning 53.8% between them · as of 2026-09-30
Manju Suresh Bafna10.28%
Vaibhav Jayantilal Shah8.76%
Bela Himanshu Shah6.27%
Monarch Infraparks Private Limited6.19%
Bankim Jayantilal Shah5.56%
Simandhar Securities Private Limited3.65%
Kinnari Vaibhav Shah3.31%
Himanshu Jayantilal Shah3.30%
Business done with them
FY2026 · 3 of the group
The company paid ₹0 cr to companies in the promoter group last year — about 0.0% of its ₹372 cr revenue and received ₹82.3 L back from them.
YANTRA ESOLARINDIA PRIVATE LIMITED
Transfers Under License Agreements From Entity · Availing or rendering of services
also owns 1.53% of the company
₹1 cr
company received
Monarch Infraparks Private Limited
Other income from them · Availing or rendering of services
also owns 6.19% of the company
₹41.2 L
company received
Simandhar Securities Private Limited
Other income from them · Availing or rendering of services
also owns 3.65% of the company
₹28.9 L
company received
YANTRA ESOLARINDIA PRIVATE LIMITED
Other income from them · Availing or rendering of services
also owns 1.53% of the company
₹12.2 L
company received

The company also transacted with 14 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.