RNFI Services Ltd.
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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 GENERATEDFinancial Services
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.
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
| 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 |
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 | |
|---|---|---|---|---|---|
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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RNFI Services Ltd.
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