Monarch Networth Capital Limited · NSE:MONARCH
Monarch Networth Capital — Q2 FY27 Earnings Presentation
14 slides from Monarch Networth Capital's earnings presentation, July 2026
Slide 1: Monarch Power Ideas
Monarch Power Ideas Q2FY27 research@mnclgroup.com
Slide 2: Top Picks
TOP TOP PICKS PICKS – Q1CY22 Mkt Cap Target Upside/ Company Sector Rating CMP (Rs)# (Rs mn) Price (Rs) (Downside) Pricol Ltd Auto ancillary BUY 75,188 617 724 17.3% Redington Ltd IT Hardware BUY 214,323 274 340 24.1% Sundram Fasteners Auto ancillary BUY 197,520 940 1,060 12.8% Travel Food Services L
Slide 3: Pricol Ltd. - BUY, TP Rs 724
Pricol Ltd.|BUY - TP – Rs 724|Upsi de - 17% What we like in the company Earnings Outlook • Pricol is a leader in 2W domestic cluster industry with a 40% market • We expect the company to deliver 17%/16%/19% Revenue/EBITDA/PAT share. It also enjoys a market leadership in clusters for CV. The other CA
Slide 4: Pricol Ltd. – Technology excellence; Attractive valuations
Pricol Ltd. – Technology excellence; Attractive valuations Valuation and view Key financials (Rs mn) • We value Pricol at 25x FY28E PE to arrive at a TP of Rs 724 and a BUY Rs mn FY24 FY25 FY26 FY27E FY28E rating. • At CMP, Pricol trades at a very attractive valuation of ~21x FY28E P/E. Revenue 22,7
Slide 5: Redington Ltd - BUY, TP Rs 340
Redington Ltd |BUY - TP – Rs 340|Upsi de - 24% What we like in the company Earnings Outlook • Leading technology distributor with diversified presence across IT, • We We factor in Revenue/EBITDA/PAT CAGR of 15.7%/16.9%/7.3% over Mobility, Cloud and Lifestyle products across India, Middle East, Afric
Slide 6: Redington Ltd. – Where scale meets technology
Redington Ltd. – W here sc ale meet s t ec hno lo gy Valuation and view Key financials (Rs mn) • We ascribe 12x multiple to FY28 EPS and arrive at a target price of Rs mn FY24 FY25 FY26 FY27E FY28E Rs 340 an upside of 21.8% Revenues 8,93,457 9,93,336 11,42,331 13,25,172 14,83,754 • At CMP of Rs 279
Slide 7: Sundram Fasteners - BUY, TP Rs 1060
Sundram Fasteners|BUY - TP – Rs 1060 | Upsi de – 13% What we like in the company Earnings Outlook • Sundram Fasteners (SFL) is an industry leader in manufacturing of • We expect a 12%/ 17%/ 19% CAGR for Revenue/ EBITDA/ PAT over fasteners, for both auto and non-auto industries with a 40% share in FY
Slide 8: Sundram Fasteners – At an inflection point
Sundram Fasteners – At an i nflect i o n po i nt Valuation and view Key financials (Rs mn) • We ascribe 26x PE to FY28E EPS and arrive at a TP of Rs1060/share Particulars FY24 FY25 FY26 FY27E FY28E and a BUY rating. At CMP, stock trades at very attractive valuation of 28x/ 23x FY27/ FY28 PE. Revenue
Slide 9: Travel Foods Services Ltd - BUY, TP Rs 1,680
Travel Foods Serv i ces Lt d| BUY - TP: Rs 1,680|Upsi de – 27% What we like in the company Earnings Outlook • TFS is India’s largest player in the airport travel food and beverage (F&B) • Revenue/EBITDA/PAT is projected to grow at 13%/10%/12% CAGR over and lounge segment, with ~30% market share in t
Slide 10: Travel Foods Services Ltd
Trav el Foods Services Ltd Valuation and view Key financials (Rs mn) • At CMP, the stock is trading at 35.8x FY27e and 31.6x FY28E EPS of Rs 37.1 and 42.1, respectively. Particulars FY24 FY25 FY26A FY27E FY28E • We value the stock at 40x FY28E EPS Rs 42.1 and arrive at a TP of Rs Revenues 13,963 16,
Slide 11: Viyash Scientific - BUY, TP Rs 330
Viyash Scientific | BUY - TP: Rs 330|Upside – 14% What we like in the company Earnings Outlook • Viyash is the combined business of animal and human healthcare with very strong capabilities on leadership, R&D, backward integration on • Revenue/EBITDA/PAT to grow at 17%/20%/41% CAGR over FY26-FY28E,
Slide 12: Viyash Scientific Ltd. – Strong leadership; compounding business
Viyash Scientific Ltd. – Strong leadership; compounding business Valuation and view Key financials (Rs mn) • We value Viyash at 15x FY28E EV/EBITDA to arrive at a TP of Rs 330/sh Particulars FY24 FY25 FY26 FY27E FY28E and a BUY rating. At CMP, the stock trades at an attractive valuation of 12.5x FY2
Slide 13: Previous Power Ideas & Performance
PREVIOUS POWER IDEAS & PERFORMANCE Initiation price (Rs) Initiation price (Rs) Q1FY27 power ideas CMP (Rs) % Chg Q4FY26 power ideas CMP (Rs) % Chg (30th Mar 2026) (1st Jan 2026) Aditya Vision 647.7 481 34.65% Carysil 1,172.6 908 29.14% Mrs. Bector Foods 178.1 179 -0.51% CRISIL 4,078.8 4,328 -5.76% S
Slide 14: Research Disclaimer and Disclosure
Research Disclaimer and Disclosure inter-alia as required under Securities and Exchange Board of India (Research Analysts) Regulations, 2014 About the Research Entity Monarch Networth Capital Limited (defined as “MNCL” or “Research Entity”) a company duly incorporated under the Companies Act, 1956 (
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