Monarch Networth Capital LimitedQ2 FY27 Results & Financial Update
Monarch Networth Capital Limited: Q2 FY27 consolidated results and company financials – revenue ₹123.52 Cr, PAT ₹56.56 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Monarch Networth Capital Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Monarch Networth Capital Limited reported consolidated total income of INR 123.52 crore for the quarter ended September 30, 2026, marking a robust sequential expansion from INR 91.40 crore in the preceding quarter ended June 30, 2026.
Profit before tax (PBT) for Q2 FY27 stood at INR 72.10 crore, reflecting a 29.68% increase compared to INR 55.59 crore in Q1 FY27, driven by higher operational revenue and expanding segment contributions.
Net profit after tax (PAT) reached INR 56.56 crore for the quarter, registering a sequential quarter-on-quarter growth of 25.19% over the INR 45.18 crore reported in the June 2026 quarter. Basic earnings per share (EPS) for the quarter rose to INR 7.13 compared to INR 5.70 in the previous quarter.
The broking and related services segment remained the primary revenue engine, contributing INR 123.52 crore in total operational revenue and generating a segment profit before tax and interest of INR 71.19 crore for the quarter.
The non-banking financial business segment also registered growth, delivering segment revenue of INR 6.18 crore and contributing INR 6.32 crore to pre-tax profit before unallocated items during Q2 FY27.
Total expenses for the quarter expanded to INR 51.42 crore from INR 35.81 crore in Q1 FY27, influenced by a net loss on fair value changes of INR 15.18 crore and higher employee benefit expenses of INR 12.26 crore.
During the quarter, the company appropriated a final dividend of INR 7.93 crore (INR 1.00 per share) approved at the Annual General Meeting held on September 25, 2026.
01 · Business model
What does Monarch Networth Capital do?
Monarch Networth Capital Limited operates as a diversified financial services group in India, delivering a broad suite of capital market and lending solutions to retail, corporate, and institutional clients. The company's core operations span stockbroking, merchant banking, and asset management services.
Beyond traditional broking and advisory, the group participates in non-banking financial business activities, providing loan products and credit facilities, alongside nascent interests in insurance distribution, investment advisory, and venture capital financing through its specialized subsidiaries.
The consolidated entity comprises Monarch Networth Finserve Private Limited, Monarch Networth Capital IFSC Private Limited, Monarch Networth Investment Advisors Private Limited, Monarch Networth Asset Management Private Limited, Monarch Networth Trustee Private Limited, and Monarch Capital Venture Private Limited.
02 · Historical context
What shaped the business before this quarter
The company concluded the financial year ended March 31, 2026, with a consolidated total income of INR 373.28 crore and a net profit after tax of INR 181.19 crore.
Under the Employee Stock Options Scheme - 2021, the company previously established the Monarch Networth Capital Limited Employees Welfare Trust, through which 40,000 equity shares were allotted during the first half of FY27.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹123.52 Cr | — |
| Total income | ₹123.52 Cr | ₹91.05 Cr |
| Profit before tax | ₹72.10 Cr | ₹55.59 Cr |
| Profit after tax | ₹56.56 Cr | ₹45.18 Cr |
| EPS | ₹7.13 | ₹5.70 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Fees and commission income, which encompasses broking, merchant banking, and asset management services, grew strongly to INR 82.46 crore in Q2 FY27 from INR 54.01 crore in Q1 FY27.
Interest income from lending and financing activities contributed INR 34.81 crore during the quarter, compared to INR 32.79 crore in the preceding quarter.
Net gain on fair value changes contributed INR 5.87 crore to operational revenue in Q2 FY27, recovering from INR 4.43 crore in Q1 FY27.
What drove margins
Employee benefit expenses stood at INR 12.26 crore for Q2 FY27, moderating from INR 14.37 crore in Q1 FY27.
The company incurred a net loss on fair value changes of INR 15.18 crore under operating expenses during Q2 FY27, compared to INR 0.35 crore in Q1 FY27.
Finance costs increased to INR 2.84 crore for the quarter from INR 2.30 crore in Q1 FY27, reflecting higher borrowing levels.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Generated net revenue of INR 123.52 crore and a segment profit before interest and tax of INR 71.19 crore in Q2 FY27, representing the vast majority of consolidated earnings.
Contributed segment revenue of INR 6.18 crore and a segment profit of INR 6.32 crore before interest and tax for the quarter.
Asset management and insurance segments recorded revenues of INR 0.89 crore and INR 0.12 crore respectively, with ongoing pre-tax losses of INR 0.80 crore and INR 0.32 crore during the quarter.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The Board of Directors approved a sub-division of each existing equity share of face value INR 10 into 5 equity shares of face value INR 2 each, subject to shareholder and regulatory approvals.
07 · Reported developments
What changed operationally
Consolidated PAT expanded by 25.19% sequentially to INR 56.56 crore in Q2 FY27, driven by higher fee income and lending revenue.
08 · Pressure points & risks
What is not going smoothly
The group recorded a net loss on fair value changes of INR 15.18 crore under expenses during the quarter.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash outflows from operating activities for the six months ended September 30, 2026, stood at INR 234.40 crore, heavily impacted by working capital changes including a decrease in trade payables of INR 167.98 crore.
Capital allocation & funding
Consolidated borrowings (other than debt securities) stood at INR 86.82 crore as of September 30, 2026, up from INR 26.76 crore as of March 31, 2026.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Governance
The financial results incorporate reviewed statements of Monarch Networth Finserve Private Limited and management-certified results for five other subsidiaries.
11 · Previous-quarter changes
What changed since the previous quarter
Total consolidated income rose from INR 91.40 crore in Q1 FY27 to INR 123.52 crore in Q2 FY27.
12 · Key Q&A
The quarter, answered directly
What does Monarch Networth Capital do?
Monarch Networth Capital Limited operates as a diversified financial services group in India, delivering a broad suite of capital market and lending solutions to retail, corporate, and institutional clients. The company's core operations span stockbroking, merchant banking, and asset management services.
What is the clearest takeaway from Q2 FY27?
Monarch Networth Capital Limited reported consolidated total income of INR 123.52 crore for the quarter ended September 30, 2026, marking a robust sequential expansion from INR 91.40 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Fees and commission income, which encompasses broking, merchant banking, and asset management services, grew strongly to INR 82.46 crore in Q2 FY27 from INR 54.01 crore in Q1 FY27.
What mattered most for margins or profitability?
Employee benefit expenses stood at INR 12.26 crore for Q2 FY27, moderating from INR 14.37 crore in Q1 FY27.
What changed operationally beyond the headline numbers?
The Board of Directors approved a sub-division of each existing equity share of face value INR 10 into 5 equity shares of face value INR 2 each, subject to shareholder and regulatory approvals.
What are the main pressure points disclosed for the quarter?
The group recorded a net loss on fair value changes of INR 15.18 crore under expenses during the quarter.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Share Split Approval: Monitor shareholder voting and postal ballot results for the proposed 5-for-1 equity share sub-division.
- 02
Segment Performance: Track turnaround progress in the asset management and insurance subsidiary segments.
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