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 ₹ 671 Cr.
- Current Price ₹ 268
- High / Low ₹ 404 / 213
- Stock P/E 25.9
- Book Value ₹ 54.2
- Dividend Yield 0.00 %
- ROCE 29.4 %
- ROE 25.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.8%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
* 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
Financial Services Financial Services Finance Other Financial Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 134 | 188 | 1,067 | 935 | 917 | |
| 124 | 181 | 1,059 | 923 | 880 | |
| Operating Profit | 10 | 7 | 7 | 12 | 37 |
| OPM % | 7% | 4% | 1% | 1% | 4% |
| 2 | 2 | 3 | 7 | 7 | |
| Interest | 0 | 1 | 1 | 3 | 2 |
| Depreciation | 1 | 1 | 2 | 4 | 15 |
| Profit before tax | 10 | 8 | 7 | 13 | 27 |
| Tax % | 26% | 29% | 25% | 24% | 25% |
| 7 | 6 | 5 | 10 | 20 | |
| EPS in Rs | 746.00 | 523.00 | 539.00 | 5.80 | 7.29 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 70% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 51% |
| TTM: | 73% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 16% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 30% |
| Last Year: | 25% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.10 | 0.10 | 0.10 | 18 | 25 | 25 |
| Reserves | 8 | 13 | 20 | 13 | 87 | 110 |
| 17 | 12 | 19 | 32 | 18 | 36 | |
| 80 | 92 | 85 | 126 | 150 | 158 | |
| Total Liabilities | 105 | 117 | 125 | 191 | 279 | 329 |
| 8 | 10 | 17 | 40 | 53 | 60 | |
| CWIP | 3 | 4 | 3 | 7 | 4 | 0 |
| Investments | 2 | 0 | 1 | 0 | 0 | 2 |
| 92 | 103 | 105 | 143 | 222 | 267 | |
| Total Assets | 105 | 117 | 125 | 191 | 279 | 329 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 5 | 20 | -20 | 47 | 30 | |
| -13 | -0 | -8 | -26 | -31 | |
| 14 | -6 | 8 | 7 | 46 | |
| Net Cash Flow | 6 | 14 | -20 | 28 | 45 |
| Free Cash Flow | -5 | 16 | -27 | 18 | 6 |
| CFO/OP | 84% | 329% | -203% | 398% | 97% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 22 | 24 | 5 | 11 | 13 |
| Inventory Days | 42 | 35 | 2 | 3 | 6 |
| Days Payable | 34 | 18 | 1 | 3 | 1 |
| Cash Conversion Cycle | 30 | 41 | 6 | 11 | 18 |
| Working Capital Days | -188 | -98 | -10 | -27 | -21 |
| ROCE % | 34% | 24% | 30% | 29% |
Insights
In beta| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Number of Institutional Partners/Clients Number |
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| Active Sahayaks (Agents) Number |
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| Average Revenue Per User (ARPU) Monthly INR |
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| PIN Codes Covered Number |
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Documents
Announcements
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Copy of Newspaper Publication
3 April 2026 - EGM notice published in Financial Express and Jansatta on April 03, 2026.
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Shareholders meeting
2 April 2026 - RNFI Services Limited has informed regarding Notice of Extraordinary General Meeting to be held on April 27, 2026
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Incorporation
26 March 2026 - RNFI Asset Distribution Pvt Ltd incorporated 25 Mar 2026; RNFI Services subscribed 100,000 shares (Rs10), 100% ownership.
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Trading Window
20 March 2026 - Trading window closed April 1, 2026 until 48 hours after audited results for quarter/year ending March 31, 2026.
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General Updates
17 March 2026 - Relipay launches UPI QR cash withdrawals with Jio Payments Bank; limits ₹5,000/txn, ₹10,000/day, ₹50,000/month.
Annual reports
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Nov 2025TranscriptAI SummaryPPT
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Jun 2025TranscriptPPTREC
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May 2025TranscriptAI SummaryPPT REC
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Nov 2024TranscriptAI SummaryPPT
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.