| Broking and Related Services | Equity broking, derivatives trading, research and advisory services | Strong NSE/BSE memberships, extensive branch and sub-broker network, regulatory licenses | Primarily retail and institutional investors (B2C and B2B) | Brokerage commissions and advisory fee segments | 322 | 98 | Fees and commissions from trading and advisory services | Transaction-based fees and commissions | Increasing retail investor base, enhanced digital platforms, sustained equity market activity | NSE and BSE brokerage services, MNCL brokerage platform |
| Non Banking financial business | Portfolio management services, alternative investment fund management | Regulatory approvals for fund management, growing AUM, specialized product offerings | High net worth individuals and institutional clients (B2B) | Asset management business | 7 | 2 | Management and performance fees on assets under management | Fixed management fees with performance incentives | Rising demand for PMS and AIF products, increasing AUM | Monarch Networth Capital IFSC Private Limited fund management |
| Insurance business | Insurance distribution services | Integrated financial services platform enabling cross-selling | Retail clients (B2C) | Insurance commission | 1 | 0 | Commission from insurance policies sold | Commission-based | Insurance penetration growth in India | |
