RNFI Services Ltd
Incorporated in 2015, RNFI Services Ltd is a fintech firm that offers B2B and B2B2C solutions through its online portal and mobile application.[1]
- Market Cap ₹ 948 Cr.
- Current Price ₹ 380
- High / Low ₹ 404 / 129
- Stock P/E 67.5
- Book Value ₹ 42.4
- Dividend Yield 0.00 %
- ROCE 22.5 %
- ROE 20.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.5%
- Debtor days have improved from 32.3 to 22.7 days.
Cons
- Stock is trading at 8.90 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
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Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 134 | 152 | 145 | 146 | 275 | |
| 125 | 146 | 137 | 137 | 251 | |
| Operating Profit | 9 | 6 | 7 | 9 | 25 |
| OPM % | 7% | 4% | 5% | 6% | 9% |
| 2 | 2 | 3 | 7 | 7 | |
| Interest | 0 | 0 | 1 | 2 | 2 |
| Depreciation | 0 | 1 | 1 | 2 | 11 |
| Profit before tax | 10 | 7 | 8 | 12 | 18 |
| Tax % | 27% | 27% | 24% | 23% | 23% |
| 7 | 5 | 6 | 9 | 14 | |
| EPS in Rs | 720.00 | 538.00 | 633.00 | 5.05 | 5.66 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 22% |
| TTM: | 89% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 37% |
| TTM: | 49% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 172% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 28% |
| Last Year: | 21% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 0.10 | 18 | 25 |
| Reserves | 8 | 13 | 19 | 11 | 81 |
| 16 | 5 | 14 | 29 | 15 | |
| 77 | 81 | 65 | 91 | 97 | |
| Total Liabilities | 101 | 99 | 99 | 149 | 217 |
| 7 | 7 | 15 | 31 | 41 | |
| CWIP | 3 | 4 | 1 | 1 | 0 |
| Investments | 3 | 3 | 20 | 6 | 17 |
| 88 | 85 | 64 | 111 | 159 | |
| Total Assets | 101 | 99 | 99 | 149 | 217 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 23 | 1 | -22 | 28 | 21 | |
| -9 | -0 | -12 | -18 | -40 | |
| 14 | -12 | 9 | 12 | 46 | |
| Net Cash Flow | 28 | -11 | -25 | 23 | 27 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 14 | 18 | 13 | 61 | 23 |
| Inventory Days | 41 | 18 | 11 | 19 | |
| Days Payable | 37 | 33 | 5 | 141 | |
| Cash Conversion Cycle | 19 | 4 | 20 | -61 | 23 |
| Working Capital Days | -191 | -153 | -90 | -113 | -37 |
| ROCE % | 37% | 36% | 31% | 23% |
Documents
Announcements
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General Updates
22 October 2025 - Board noted Rs.11,800 fine for Reg.44 non-compliance (Oct 22, 2025); fine paid.
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General Updates
22 October 2025 - Approved preferential allotment of 2,325,918 warrants and 107,963 shares at Rs270 each on Oct 22, 2025.
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General Updates
19 October 2025 - RNFI empanelled as Bank of Maharashtra Corporate Business Correspondent to extend banking services in unbanked areas (Oct 19, 2025).
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General Updates
16 October 2025 - RNFI re-empanelled by Bank of Baroda as collection agency for SMA and NPA overdue recoveries (accepted Oct 16, 2025).
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General Updates
14 October 2025 - RBI did not accede to Smart Payment Solutions' COC; subsidiary to rectify observations and reapply.
Annual reports
Concalls
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Jun 2025Transcript PPT
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Nov 2024TranscriptNotesPPT
Business Overview:[1]
RNFISL operates as a business correspondent for various banks and payment banks. It offers services such as domestic money transfers, IMPS, Aadhaar Enabled Payment System (AEPS), mobile recharges, railway and air ticket bookings, cash management, EMI collection, and related services through a nationwide network of retailers, distributors, partners, and super distributors.