RNFI Services Ltd.

•

rnfiservices.comBSE: -NSE: RNFI

Market Cap₹ 859 Cr.

Current Price

High / Low₹ 404 / 216

Stock P/E30.3

Book Value₹ 69

Price to Book4.86

Dividend Yield0.00 %

ROCE32.8 %

ROE28.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Full Fledge Money Changer: 53.1% • Business Correspondent: 23.7% • Non-Business Correspondent: 21.4%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 32.1%
Company has a good return on equity (ROE) track record: 3 Years ROE 31.6%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.63x)
Company comfortably covers its interest (7.1x coverage)
Attractively priced for its growth - PEG of 0.6

CONS

Though reporting repeated profits, the company pays out little dividend (0.0%)
Inventory has been piling up - inventory days up from 2 to 3

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesITFintech

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	GROWW	195.95	50.39	122931.13	0.00	7350.40	—	15014.20	1560.13	37.54	64.60
2.	PAYTM	1739.00	171.65	111575.60	0.00	220.00	79.59	2448.00	27.67	3.87	8.29
3.	POLICYBZR	1803.00	111.51	83434.32	0.00	1629.10	1824.51	18882.80	1300.81	10.84	7.24
4.	PINELABS	173.10	156.91	19973.28	0.00	195.70	3985.59	7369.20	1096.47	4.21	12.88
5.	STYL	385.65	23.65	6240.04	0.65	60.34	63.78	376.47	21.10	28.03	23.21
6.	CCAVENUE	15.37	18.28	5374.00	0.00	84.77	45.08	2680.40	109.37	7.98	3.80
7.	TURTLEMINT	132.00	0.00	3887.12	0.00	-377.80	—	2940.80	—	-38.38	-11.20
8.	MOBIKWIK	194.20	0.00	1529.27	0.00	7.62	118.17	281.48	3.73	8.02	2.88
9.	RNFI	338.85	30.27	859.22	0.00	50.59	776.62	2699.11	981.41	32.79	3.94
10.	SUVIDHAA	2.40	0.00	50.35	0.00	-1.91	55.58	2.40	135.29	-32.85	-70.42

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	220	244	214	250	222	258	239	270
	208	233	205	244	208	241	223	264
Operating Profit	12	11	9	6	13	17	16	6
OPM %	5.37%	4.61%	4.24%	2.42%	6.02%	6.50%	6.67%	2.23%
	1	1	3	2	2	1	1	1
Interest	1	0	1	1	0	1	1	1
Depreciation	3	4	4	4	4	4	5	4
Profit before Tax	9	8	7	8	12	13	12	7
Tax %	26.79%	21.21%	25.49%	26.75%	25.21%	24.32%	27.43%	26.66%
Net Profit	0	0	0	6	9	10	8	5
	2.96	2.37	2.00	2.08	3.14	3.35	3.04	1.82

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	134	188	1,067	936	917	989
	123	180	1,058	922	878	937
Operating Profit	11	8	9	13	39	52
OPM %	8.14%	4.46%	0.82%	1.41%	4.26%	5.27%
	2	3	3	7	7	5
Interest	1	2	3	4	4	2
Depreciation	1	1	2	4	15	17
Profit before Tax	10	8	7	13	27	43
Tax %	26.52%	28.66%	25.23%	23.63%	24.84%	25.78%
Net Profit	7	6	5	10	20	32
EPS	4.19	2.94	3.03	5.80	7.29	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 70%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 52%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 13%

RETURN ON EQUITY

10 Years:: —
5 Years:: 48%
3 Years:: 32%
Last Year:: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0	0	0	18	25
Minority Interest	0	0	1	0	2
	8	13	20	13	87
	16	10	16	29	16
Trade Payables	3	2	2	6	2
	78	91	85	123	147
Total Liabilities	105	116	125	190	279
	8	10	6	28	37
Capital Work in Progress	3	4	0	0	0
	2	1	1	0	0
	3	3	5	5	8
	0	0	0	29	32
Cash & Bank	43	56	37	65	119
	46	43	76	62	82
Total Assets	105	116	125	190	279

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	8	24	-15	47	30
Cash from Investing	-13	-0	-8	-26	-31
Cash from Financing	14	-6	8	7	46
	6	14	-20	28	45

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Sep 2024	Mar 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.36	65.38	65.38	65.10	65.11	64.35
	1.07	0.29	0.00	0.00	0.00	1.17
	2.89	2.39	2.47	2.42	2.49	2.42
Government	0.00	0.00	0.00	0.00	0.00	0.00
	30.67	31.94	32.15	32.48	32.40	32.06

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for RNFI

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AI Stock Analyst

RNFI Services Ltd.

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Free 5nance Account

Name

GROWW

195.95

50.39

122931.13

0.00

7350.40

—

15014.20

1560.13

37.54

64.60

PAYTM

1739.00

171.65

111575.60

0.00

220.00

79.59

2448.00

27.67

3.87

8.29

POLICYBZR

1803.00

111.51

83434.32

0.00

1629.10

1824.51

18882.80

1300.81

10.84

7.24

PINELABS

173.10

156.91

19973.28

0.00

195.70

3985.59

7369.20

1096.47

4.21

12.88

STYL

385.65

23.65

6240.04

0.65

60.34

63.78

376.47

21.10

28.03

23.21

CCAVENUE

15.37

18.28

5374.00

0.00

84.77

45.08

2680.40

109.37

7.98

3.80

TURTLEMINT

132.00

0.00

3887.12

0.00

-377.80

—

2940.80

—

-38.38

-11.20

MOBIKWIK

194.20

0.00

1529.27

0.00

7.62

118.17

281.48

3.73

8.02

2.88

RNFI

338.85

30.27

859.22

0.00

50.59

776.62

2699.11

981.41

32.79

3.94

SUVIDHAA

2.40

0.00

50.35

0.00

-1.91

55.58

2.40

135.29

-32.85

-70.42

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

220

244

214

250

222

258

239

270

208

233

205

244

208

241

223

264

Operating Profit

OPM %

5.37%

4.61%

4.24%

2.42%

6.02%

6.50%

6.67%

2.23%

Interest

Depreciation

Profit before Tax

Tax %

26.79%

21.21%

25.49%

26.75%

25.21%

24.32%

27.43%

26.66%

Net Profit

2.96

2.37

2.00

2.08

3.14

3.35

3.04

1.82

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

134

188

1,067

936

917

989

123

180

1,058

922

878

937

Operating Profit

OPM %

8.14%

4.46%

0.82%

1.41%

4.26%

5.27%

Interest

Depreciation

Profit before Tax

Tax %

26.52%

28.66%

25.23%

23.63%

24.84%

25.78%

Net Profit

EPS

4.19

2.94

3.03

5.80

7.29

—

Dividend Payout %

0.00%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Minority Interest

Trade Payables

123

147

Total Liabilities

105

116

125

190

279

Capital Work in Progress

Cash & Bank

119

Total Assets

105

116

125

190

279

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-15

Cash from Investing

-13

-0

-8

-26

-31

Cash from Financing

-6

-20

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2024

Mar 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

65.36

65.38

65.10

65.11

64.35

1.07

0.29

0.00

1.17

2.89

2.39

2.47

2.42

2.49

2.42

Government

0.00

30.67

31.94

32.15

32.48

32.40

32.06

RNFI Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

RNFI Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI