On 6 Nov 2026, Monarch Networth Capital was priced at ₹345.45, or 14.2× trailing earnings, against an industry P/E of 18.4×, and the shares are 15% below their 52-week high. It earns ROCE of 24% and ROE of 20%, and sales and net profit grew 11% and 62% a year over 3 years. It has almost no debt, and its dividend yield is 0.3%. It is a small-cap company with a market cap of ₹2,739 Cr, ranked 12th of 219 Capital Markets companies by market cap; the shares rose 14% over the past year.
- ₹350.00
- ₹350.00
- ₹342.10
- ₹353.50
- 51.3K
Health check
- ReturnsAhead
+13.7% over a year, better than 5 of 7 peers.
- Price tagCheaper
P/E 14.2 vs industry 18.4.
- GrowthSteady
Sales +10.9%, profit +61.5% a year over 3 years.
- ProfitabilityStrong
ROCE 23.5% vs peer median 22.1%.
- Balance sheetSolid
Debt 0.09× equity, interest covered 22.8×.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,739 Cr
- Small cap
- P/E
- 14.2
- Industry 18.4
- Price to book
- 2.57
- Peers 4.53
- Dividend yield
- 0.29%
- ROE
- 19.8%
- Peers 18.9%
- ROCE
- 23.5%
- Peers 22.1%
- Debt to equity
- 0.09
- Debt ₹95 Cr
- EPS (TTM)
- ₹24.26
- Face value ₹10
- OPM (TTM)
- 65.4%
- Net margin 48.2%
- Sales growth
- +88.7%
- Latest quarter vs a year ago
- Profit growth
- +25.8%
- Latest quarter vs a year ago
- Price to sales
- 6.85
Strengths and risks
Strengths
- Return on equity of 19.8%.
- Return on capital employed of 23.5%.
- Practically debt-free.
- Quarterly profit up 25.8% on a year ago.
- Quarterly sales up 88.7% on a year ago.
About Monarch Networth Capital
Monarch Networth Capital Limited, together with its subsidiaries, provides financial services to retail investors, mutual funds, institutional investors, foreign institutional investors, financial institutions and corporate clients in India. The company operates through three segments: Broking & other Finance Market Services; Non-Banking Finance Business; and Insurance Business. The company offers equity and derivatives, commodities, and currency…
- Headquarters
- Ahmedabad
- Employees
- 355
- Sector
- Financial Services
- ISIN
- INE903D01011
- Website
- mnclgroup.com
Price range
- Avg volume (3M)
- 1.1 L
- 1-year return
- plus 13.7%
- From 52-week high
- minus 15.1%
Peers · Capital Markets
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GROWWBillionbrains Garage Ventures | 215.08 | minus 3.93% | 1,33,585 | 50.3 | 13.78 | 29.3% | 21.6% | 62.9% | – | – | 0.00% | plus 63.8% |
| MOTILALOFSMotilal Oswal Financial Services | 1,102.00 | plus 0.64% | 66,448 | 25.0 | 4.27 | 18.1% | 18.9% | 52.4% | 29.0% | 26.1% | 0.54% | plus 11.1% |
| AIILAuthum Investment & Infrastructure | 570.05 | plus 0.08% | 48,410 | 27.6 | 3.29 | 15.2% | 13.1% | 74.0% | 44.4% | −23.5% | 0.00% | minus 0.7% |
| ANGELONEAngel One | 331.00 | plus 1.49% | 30,290 | 26.8 | 4.53 | 26.9% | 18.4% | 39.7% | 20.3% | 0.9% | 1.95% | plus 29.5% |
| CDSLCentral Depository Services (India) | 1,331.40 | minus 0.19% | 27,826 | 55.1 | 14.03 | 29.7% | 26.4% | 51.3% | 27.3% | 18.2% | 0.96% | minus 13.3% |
| CHOICEINChoice International | 748.20 | minus 0.09% | 16,668 | 62.9 | 8.90 | 17.6% | 15.8% | 35.3% | 42.2% | 53.6% | 0.00% | minus 7.4% |
| IIFLCAPSIIFL Capital Services | 349.80 | plus 0.13% | 13,036 | 18.8 | 3.15 | 22.1% | 19.5% | 36.1% | 19.9% | 30.9% | 0.86% | plus 4.1% |
| MONARCHMonarch Networth Capital | 345.45 | minus 2.28% | 2,739 | 14.2 | 2.57 | – | 19.8% | 59.7% | – | – | 0.29% | plus 13.7% |
| Median of 7 peers | – | 0.08% | 30,290 | 27.6 | 4.53 | 22.1% | 18.9% | 51.3% | 28.2% | 22.2% | 0.54% | 4.1% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 62.2 | 80.7 | 67 | 86.8 | 117 | |
| 19.2 | 27.9 | 31.9 | 30.6 | 31.3 | |
| 43 | 52.8 | 35.1 | 56.2 | 86 | |
| 69.1% | 65.5% | 52.4% | 64.7% | 73.3% | |
| 0.3 | 0.8 | −0.3 | 0.2 | 0.4 | |
| 1.4 | 1.8 | 2 | 2.3 | 2.8 | |
| 1.9 | 1.9 | 2.1 | 2.3 | 2.4 | |
| 20.8 | 10.8 | 32.7 | 3.8 | −9.1 | |
| 60.8 | 60.6 | 63.4 | 55.6 | 72.1 | |
| 26.0% | 25.1% | 28.1% | 18.7% | 21.5% | |
| 45 | 45.4 | 45.6 | 45.2 | 56.6 | |
| 5.66 | 5.72 | 5.73 | 5.69 | 7.12 |
Profit & loss
- Sales CAGR 3Y
- +10.9%
- Profit CAGR 3Y
- +61.5%
- EPS CAGR 3Y
- +53.2%
- ROE
- 19.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 151 | 220 | 232 | 206 | |
| – | +45.5% | +5.7% | minus 11.2% | |
| 91.9 | 94 | 105 | 113 | |
| 59 | 126 | 127 | 92.5 | |
| 39.1% | 57.2% | 54.8% | 44.9% | |
| −0.5 | 51.4 | 67.3 | 60.6 | |
| 3.9 | 11 | 15 | 4 | |
| 1.1 | 1.7 | 7.5 | 7.8 | |
| 4.4 | −0.1 | 20.8 | 103 | |
| 57.9 | 164 | 193 | 244 | |
| 25.8% | 25.0% | 22.5% | 25.8% | |
| 43 | 123 | 149 | 181 | |
| – | +186.6% | +21.2% | +21.4% | |
| 6.34 | 9.09 | 19.89 | 22.81 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 33.9 | 33.9 | 78.5 | 79.3 | |
| 188 | 312 | 718 | 892 | |
| 2.8 | 113 | 19.4 | 37.2 | |
| 383 | 349 | 420 | 564 | |
| 608 | 808 | 1,236 | 1,572 | |
| 16.6 | 20.6 | 21.2 | 21.4 | |
| 8.4 | 8 | 6.2 | – | |
| 19.9 | 417 | 155 | 223 | |
| 51.8 | 26.3 | 489 | 429 | |
| 511 | 336 | 565 | 899 | |
| 608 | 808 | 1,236 | 1,572 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −20.8 | −108 | 29.7 | 114 | |
| −17.7 | 15.5 | −86.8 | −2.4 | |
| −4.7 | 93.7 | 171 | −1.7 | |
| −43.2 | 1.3 | 114 | 110 | |
| −4 | −6.2 | −16.2 | −8.3 | |
| −24.8 | −114 | 13.5 | 106 | |
| – | −3.4 | −3.4 | −7.9 |
Shareholding pattern
- Promoters53.83%
- Public46.13%
- Employee trusts0.04%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 53.83% | 46.13% | 0.00 | |
| 30 Jun 2026 | 53.83% | 46.12% | minus 0.03 | |
| 31 Mar 2026 | 53.86% | 46.14% | plus 0.45 | |
| 31 Dec 2025 | 53.41% | 46.59% | plus 0.55 | |
| 30 Sep 2025 | 52.86% | 47.13% | – |
Major shareholders
Filings & events
News
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