Monarch Networth CAP Ltd
NSE: MONARCH · Stockbroking & Allied · sector
₹324.35NSE close 2026-10-26
Key numbers
Market cap₹2,572 cr
Price₹324.35
52w high / low₹407 / ₹235
P/E14.2xSector median 19.5x
P/B2.6xSector median 1.7x
Book value₹122.5
Dividend yield0.31%Sector median 0.77%
ROE20.5%Sector median 10.7%
ROCE24.8%Sector median 14.1%
OPM69.9%Sector median 37.5%
Debt / equity0.03xSector median 0.24x
EV/EBITDA6.5xSector median 12.3x
Interest cover33.1x
Current ratio2.60x
Sales growth 3y+33.6%Sector median +18.4%
Profit growth 3y+61.5%Sector median +8.3%
PEG0.26x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 39 companies in Stockbroking & Allied (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹927 cr vs borrowings ₹27 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 33.1x in the last 12 months.
- 5.46% of the promoters' shares are pledged (2.9% of all shares).
- Promoter holding rose by 0.97 percentage points in a year, to 53.83% (2026-09-30).
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 0% of net profit in the last 12 months.
- Debtor days went from 117 (FY24) to 210 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹324.35 on 2026-10-26: -20.3% from the 52-week high, +37.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹466.50 · low ₹245.55
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 104 | 77 | 61 | 98 | 83 | 91 | 100 | 91 |
| EBITDA | 66 | 55 | 38 | 63 | 64 | 64 | 68 | 60 |
| OPM % | 63.5% | 72.2% | 62.6% | 63.9% | 76.7% | 69.7% | 67.9% | 66.0% |
| Other income | 0 | 0 | 1 | 0 | 0 | 1 | -0 | 0 |
| Net profit | 44 | 41 | 25 | 45 | 45 | 45 | 46 | 45 |
| EPS (₹) | 6.13 | 5.16 | 3.15 | 5.76 | 5.67 | 5.73 | 5.75 | 5.70 |
| Revenue YoY | -20.1% | +19.0% | +63.8% | -7.2% | ||||
| Profit YoY | +2.3% | +12.1% | +84.4% | -0.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 144 | 156 | 260 | 327 | 372 | 365 |
| EBITDA | 65 | 59 | 160 | 217 | 258 | 255 |
| Net profit | 54 | 43 | 123 | 149 | 181 | 181 |
| EPS (₹) | 9.31 | 6.32 | 18.18 | 20.15 | 22.91 | 22.85 |
| Revenue growth | +7.9% | +66.5% | +25.9% | +13.9% | +7.5% | |
| Profit growth | -20.5% | +186.6% | +21.2% | +21.4% | +17.3% | |
| Dividend / share (₹) | – | 1.00 | 1.00 | 1.00 | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +33.6% | – | +7.5% |
| Net profit | +61.6% | – | +17.3% |
| EPS | +53.7% | – | – |
| Share price | – | -10.6% (2y) | +6.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 226 | 346 | 797 | 971 |
| Borrowings | – | 3 | 113 | 9 | 27 |
| Cash & equivalents | – | 396 | 457 | 752 | 927 |
| Total assets | – | 612 | 808 | 1,236 | 1,572 |
| Fixed assets | – | 8 | 13 | 21 | 21 |
| Capital work in progress | – | – | 0 | 0 | 0 |
| Investments | – | 24 | 18 | 0 | 0 |
| Receivables | – | 46 | 83 | 91 | 214 |
| Inventory | – | 17 | 10 | 0 | 0 |
| Payables | – | 325 | 293 | 336 | 504 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 45 | -21 | -145 | 30 | 114 |
| Cash from investing | -0 | -18 | 12 | -87 | -2 |
| Cash from financing | 14 | -5 | 94 | 171 | -2 |
| Capex | 2 | 4 | 6 | 16 | 8 |
| Free cash flow | 43 | -25 | -151 | 14 | 106 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 19.0% | 35.6% | 18.7% | 18.7% |
| ROCE % | – | 27.8% | 38.6% | 26.1% | 25.2% |
| Debtor days | – | 107 | 117 | 102 | 210 |
| Inventory days | – | 41 | 13 | 0 | 0 |
| Payable days | – | 761 | 412 | 375 | 495 |
| Cash conversion cycle (days) | – | -613 | -282 | -273 | -285 |
| Working capital days | – | 421 | 449 | 860 | 931 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 53.83% |
| FIIs | 3.03% |
| DIIs | 0.09% |
| Public (non-institutions) | 43.01% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.79% | 52.79% | 52.88% | 52.86% | 53.41% | 53.86% | 53.83% | 53.83% |
| Promoter group | % |
|---|---|
| Manju Suresh Bafna | 10.28% |
| Vaibhav Jayantilal Shah | 8.76% |
| Bela Himanshu Shah | 6.27% |
| Monarch Infraparks Private Limited | 6.19% |
| Bankim Jayantilal Shah | 5.56% |
| Simandhar Securities Private Limited | 3.65% |
| Kinnari Vaibhav Shah | 3.31% |
| Himanshu Jayantilal Shah | 3.30% |
| Ashok Daulatraj Bafna | 1.77% |
| Shailen Ramesh Shah | 1.65% |
| Yantra Esolarindia Private Limited | 1.53% |
| Vrushali Himanshu Shah | 0.94% |
| Anushree Himanshubhai Shah | 0.25% |
| Hemangi Bankim Shah | 0.25% |
| Kavish Vaibhav Shah | 0.06% |
| Public holders above 1% | % |
|---|---|
| Gaurav Bhandari | 4.32% |
| Riddhi Siddhi Gluco Biols Limited | 3.11% |
| Care Wealth Advisors LLP | 2.85% |
| Madhu Silica Private Limited | 2.69% |
| Prashant Jayantilal Sanghvi | 1.25% |
| Legends Global Opportunities (Singapore) PTE. Ltd. | 1.22% |
| HIM Realty Private Limited | 1.21% |
| India Opportunities Growth Fund Ltd - Pinewood Strategy | 1.13% |
| Sanskrut Tradecom Private Limited | 1.13% |
| Sur-man Securities Private Limited | 1.01% |
17,321 shareholders. Pledged: 5.46% of promoter shares.
Peers in Stockbroking & Allied
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| GROWW | ₹1,15,154 cr | 42.3x | 9.9x | 28.5% | – | 62.9% | – | – |
| MOTILALOFS | ₹56,201 cr | 53.1x | 7.1x | 14.0% | – | – | +21.3% | 0.64% |
| 360ONE | ₹39,770 cr | 79.4x | 5.2x | 6.7% | – | – | +22.9% | 1.20% |
| NUVAMA | ₹30,285 cr | 50.1x | 14.5x | 29.9% | – | – | – | 1.66% |
| ANGELONE | ₹25,846 cr | 19.9x | 3.8x | 20.4% | – | – | +19.2% | 1.72% |
| IIFLCAPS | ₹10,681 cr | 18.8x | 3.9x | 22.6% | – | – | +19.4% | 0.87% |
| SHAREINDIA | ₹3,873 cr | 12.1x | 1.7x | 15.2% | – | – | +14.4% | 0.76% |
| ARSSBL | ₹2,818 cr | 17.4x | 2.0x | 10.7% | 13.1% | 37.9% | – | – |
| MONARCH | ₹2,572 cr | 14.2x | 2.6x | 20.5% | 24.8% | 69.9% | +33.6% | 0.31% |
| ALGOQUANT | ₹2,069 cr | 61.9x | 15.4x | 24.8% | 29.4% | 22.4% | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Fees and Commission Income | ₹155 cr | 41.1% | ₹251 cr | 161.5% |
| Interest Income | ₹112 cr | 29.5% | ₹0 cr | 0.0% |
| Net Gain/(Loss) on Fair Value Changes | ₹102 cr | 26.9% | ₹0 cr | 0.0% |
| Non Banking Financial Business | ₹6 cr | 1.6% | ₹5 cr | 80.4% |
| Insurance Business | ₹1 cr | 0.3% | ₹0 cr | 20.8% |
| Others | ₹1 cr | 0.3% | ₹-1 cr | -51.1% |
| Other Income | ₹1 cr | 0.2% | ₹0 cr | 0.0% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-21 | Dividend | Dividend - Re 1 Per Share |
| 2025-09-19 | Dividend | Dividend - Re 1 Per Share |
| 2024-09-13 | Bonus | Bonus 1:1 |
| 2024-08-02 | Dividend | Dividend - Re 1 Per Share |
| 2023-09-15 | Dividend | Dividend - Re 1 Per Share |
| 2023-09-15 | Other | Annual General Meeting |
| 2022-09-14 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Financial and insurance service: Financial Advisory brokerage and Consultancy Services
- Financial and insurance service: Other financial activities
| Sector | Financial Services |
| Industry | Stockbroking & Allied |
| Sub-industry | Stockbroking & Allied |
| Symbol | MONARCH |
| BSE code | 511551 |
| ISIN | INE903D01011 |
| Face value | ₹10.0 |
| Incorporated | 1993-12-02 |
| Website | www.mnclgroup.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.