Job Description

This isn't a job post. It's an invitation to lead something different.

Monarch's Institutional Equities desk has quietly built a reputation that punches well above its weight. A small, high conviction research team covering some of the most compelling small and mid cap businesses in India ,companies with market caps under 25,000 crore that most large brokerages either ignore or cover as an afterthought.

We don't do that.

We go deep. We do real channel checks, supplier calls, dealer visits, plant visits, and distributor feedback. We don't take management guidance at face value. We verify. We triangulate. We form our own view. That's the Monarch way, and it's non negotiable.

Now we need someone to lead this team to the next level.

A research leader ,not just a good analyst who got promoted, but someone who genuinely knows how to build, mentor, and inspire a team of sector analysts.

Someone with deep, cross sectoral understanding. You've covered multiple sectors over your career. You understand what makes a business truly great versus what merely looks great on a quarterly earnings call. You see patterns others miss.

Someone who lives in the field, not just in Excel. Channel checks aren't a box you tick , they're how you think. You've built proprietary information networks over the years. You know the difference between what a company says and what's actually happening on the ground.

Someone with institutional client relationships. You've sat across the table from fund managers. They take your calls. They respect your work. You bring not just ideas but conviction , and the track record to back it.

• Lead and build the equity research team covering small and mid-cap companies (sub-25,000 Cr market cap)

• Set the research agenda , coverage universe, initiation pipeline, sector allocation

• Drive a channel check first research culture. Every thesis must be independently verified

• Publish high conviction, differentiated research that institutional clients can act up on . You should have the ability to identify the sector rotation because of fast changing global macros.

• Mentor and develop a team of young, hungry analysts into independent thinkers

• Maintain and deepen relationships with domestic and offshore institutional investors

• Post-graduation / MBA / CA; this is non-negotiable

• 15+ years in equity research.

• Proven experience leading a research team; you've built analysts, not just supervised them

• Cross-sector expertise: You understand the connective tissue between industries, not just one silo

• Strong institutional client network; fund managers and portfolio managers know your work

• Demonstrated track record of high conviction stock calls that played out

• Independence of thought. You form your own view. You don't follow consensus for comfort.

Because here, you won't be a cog in a big research factory. You'll lead a focused, high impact team where every idea matters, every piece of research carries your conviction, and the leadership listens.

Monarch just posted its highest-ever quarterly profit (57 Cr PAT, Q2 FY27). We're growing fast , but with intention, not recklessness. Institutional Equities is a core vertical, and the Head of Research will have a seat at the table.

If this sounds like you, we would love to hear from you.