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10 Yrs X-Ray 
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Analyst Note 
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RNFI Services Ltd (RNFI)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: RNFI Fintech | Small Cap | RNFI Services Share Price
BSE Share Price
Not Listed
Not Listed
RNFI Services Ltd (RNFI)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: RNFI Fintech | Small Cap | RNFI Services Share Price
BSE Share Price
Not Listed
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹790 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹11.2
TTM Sales
₹989 Cr.
Book Value per Share
₹69
P/E Ratio
27.83
Lower than its 5-year historical median
Industry PE
109.1
Price to Book (P/B)
4.51
Lower than its 5-year historical median
Price to Sales (P/S)
0.80
Lower than its 5-year historical median
EV/EBITDA
11.60
Lower than its 5-year historical median
Dividend Yield
NAN%
Profitability Efficiency
Return on Equity (ROE)
28.01%
Outperforms industry median
Return on Capital Employed (ROCE)
32.79%
Outperforms industry median
Return on Assets (ROA)
8.58%
Operating Profit Margin
4.3%
Net Profit Margin
2.19%
Gross Profit Margin
4.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
89.4%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
195.61%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
103.44%
Asset Quality
Promoter Holding
64.35%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹150 Cr.
Equity
₹25.4 Cr.
Face Value
₹10
All Time Low / High
₹0.00 / 0.00
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Strong
Is RNFI Services Ltd a good quality company?
RNFI Services Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does RNFI Services Ltd performance compare with that of its Peers?
Revenue growth of RNFI Services Ltd vs industry peers?
RNFI Services Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0.00%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of RNFI Services Ltd?
Promoters hold 64.35% of the RNFI Services Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of RNFI Services Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -12.07% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
RNFI Services Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 48.7% | 41.1% | 33.2% | 25% | - |
| Value Creation Index ⓘ | 2.5 | 1.9 | 1.4 | 0.8 | - |
Growth Parameters ⓘ |
|||||
| Sales ⓘ | 152 | 145 | 145 | 275 | 301 |
| Sales YoY Gr. | - | -4.6% | 0.4% | 89.4% | - |
| Adj EPS ⓘ | 3 | 3.4 | 4.8 | 5.6 | 7.6 |
| YoY Gr. | - | 13.9% | 39.5% | 17.3% | - |
| BVPS (₹) ⓘ | 7.4 | 11 | 16.1 | 42.4 | 68.2 |
| Adj Net Profit ⓘ | 5.4 | 6.1 | 8.7 | 14.1 | 19 |
| Cash Flow from Ops. ⓘ | 1.3 | -27.6 | 28 | 20.6 | - |
| Debt/CF from Ops. ⓘ | 3.4 | -0.5 | 1 | 0.7 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 22% | 89.4% | ||||
| Adj EPS ⓘ | NA | NA | 23.1% | 17.3% | ||||
| BVPSⓘ | NA | NA | 78.9% | 163.5% | ||||
| Share Price | - | - | - | -17.1% | ||||
Key Financial Parameters ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 40.8 | 37.5 | 35.8 | 20.8 | 13.8 |
| Op. Profit Mgn % ⓘ | 4.5 | 6.3 | 6.6 | 9.7 | 11.9 |
| Net Profit Mgn % ⓘ | 3.5 | 4.2 | 6 | 5.1 | 6.4 |
| Debt to Equity ⓘ | 0.3 | 0.7 | 1 | 0.1 | - |
| Working Cap Days ⓘ | 0 | 100 | 148 | 91 | 111 |
| Cash Conv. Cycle ⓘ | 0 | 21 | 39 | 27 | 46 |
Valuation of RNFI Services - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|
| Sales | 134 | 188 | 1,067 | 936 | 917 |
| Operating Expenses ⓘ + | 123 | 180 | 1,058 | 922 | 878 |
| Operating Profit ⓘ | 11 | 8 | 9 | 13 | 39 |
| Operating Profit Margin (%) | 8.1% | 4.5% | 0.8% | 1.4% | 4.3% |
| Other Income ⓘ + | 2 | 3 | 3 | 7 | 7 |
| Interest ⓘ | 1 | 2 | 3 | 4 | 4 |
| Depreciation ⓘ | 1 | 1 | 2 | 4 | 15 |
| Profit Before Tax ⓘ | 10 | 8 | 7 | 13 | 27 |
| Tax ⓘ | 3 | 2 | 2 | 3 | 7 |
| Profit After Tax | 7 | 6 | 5 | 10 | 20 |
| PAT Margin (%) | 5.6% | 3.0% | 0.5% | 1.1% | 2.2% |
| Adjusted EPS (₹) | 4.2 | 2.9 | 3.0 | 5.8 | 7.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 8 | 13 | 21 | 32 | 112 | ||||||
| Debt + | 16 | 10 | 16 | 27 | 15 | ||||||
| Minority Interest | 0 | 0 | 1 | 0 | 2 | ||||||
| Trade Payables | 3 | 2 | 2 | 6 | 2 | ||||||
| Others Liabilities ⓘ | 78 | 91 | 86 | 125 | 148 | ||||||
| Total Liabilities ⓘ | 105 | 116 | 125 | 190 | 279 | ||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 8 | 10 | 6 | 28 | 37 | ||||||
| CWIP ⓘ | 3 | 4 | 3 | 7 | 4 | ||||||
| Investments ⓘ | 2 | 1 | 1 | 0 | 0 | ||||||
| Inventories | 3 | 3 | 5 | 5 | 8 | ||||||
| Trade Receivables | 8 | 12 | 14 | 29 | 32 | ||||||
Cash Equivalents 
ⓘ
| 43 | 56 | 37 | 65 | 119 | ||||||
| Others Assets ⓘ | 38 | 31 | 59 | 55 | 78 | ||||||
| Total Assets ⓘ | 105 | 116 | 125 | 190 | 279 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 5 | 20 | -20 | 47 | 30 |
| Cash Flow From Investing Activity ⓘ + | -13 | -0 | -8 | -26 | -31 |
| Cash Flow From Financing Activity ⓘ + | 14 | -6 | 8 | 7 | 46 |
| Net Cash Flow ⓘ | 6 | 14 | -20 | 28 | 45 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 95.1 | 52.2 | 28.79 | 37.93 | 28.01 | |||||
| ROCE (%) | 48.53 | 39.11 | 30.12 | 33.25 | 32.79 | |||||
| Asset Turnover Ratio | 1.28 | 1.7 | 8.85 | 5.95 | 3.91 | |||||
| PAT to CFO Conversion(x) | 0.71 | 3.33 | -4 | 4.7 | 1.5 | |||||
| Working Capital Days | ||||||||||
| Receivable Days | 22.40 | 19.80 | 4.60 | 8.60 | 12.20 | |||||
| Inventory Days | 8.50 | 6.30 | 1.40 | 1.90 | 2.60 | |||||
| Payable Days | 34.40 | 22.50 | 0.90 | 2.10 | 2.50 | |||||
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RNFI Services Ltd FAQs
The current trading price of RNFI Services on 01-Jan-1970 05:30 is ₹0.00.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of RNFI Services stood at ₹789.8 Cr
The latest P/E ratio of RNFI Services as of 31-Dec-1969 is 40.90.
The latest P/B ratio of RNFI Services as of 31-Dec-1969 is 4.56.
The 52-week high of RNFI Services is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of RNFI Services is ₹301 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that RNFI Services Ltd is a average quality company.
The key valuation ratios of RNFI Services Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of RNFI Services Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About RNFI Services Ltd
RNFI Services Limited was originally incorporated as ‘RNFI Services Private Limited’, a private limited company under Companies Act, 2013, pursuant to a certificate of incorporation dated October 13, 2015 issued by the Registrar of Companies, Delhi. Subsequently, the company was converted into a public limited company pursuant to a resolution passed by its shareholders at an Extra-ordinary General Meeting held on November 22, 2023 and a fresh certificate of incorporation dated December 28, 2023 was issued by the Registrar of Companies, Delhi consequent upon conversion, recording the change in name of the company from ‘RNFI Services Private Limited’ to ‘RNFI Services Limited’.
The company is a tech enabled platform offering financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model via its online portal and mobile application, focusing on providing banking, digital and Government to Citizen (G2C) services on PAN India basis. It segregates its business primarily into four segments namely (i) business correspondent services; (ii) non-business correspondent services; (iii) full-fledged money changer service; and (iv) insurance broking. It is providing full-fledged money changer service through its Material Subsidiary (wholly owned), namely RNFI Money which is RBI registered full-fledged money changer (FFMC) and insurance broking service through its wholly-owned Subsidiary, namely Reliassure Insurance Brokers which is registered as a direct broker (Life and General) with IRDAI.
It acts as a bridge to ensure the availability of tech enabled financial services throughout the country, including to the underserved population in remotest of the places by connecting them to formal financial channels. It also provides business and income-generating opportunities for shopkeepers and network partners by enabling them to provide banking, digital and government services to the end customers through its web and mobile application via an assisted model. It started its journey in the year 2015 in the fintech sector with a mission to empower rural India by promoting the accessibility of financial technology with simple and efficient financial solutions and contribute to the development of a DIGITAL BHARAT and a vision to become one of the leading financial solutions provider.
Business area of the company
The company is a tech enabled platform offering financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model via its online portal and mobile application, focusing on providing banking, digital and Government to Citizen (G2C) services on PAN India basis.
Awards and accreditations
- 2021: ISO 9001:2015 for providing services facilitating financial inclusion program's and acting as corporate business correspondents to banks and payment banks, providing fintech platform and ensuring digital and online financial services for AEPS, MATM, DMT, BBPS, recharges, wallet loadings, CMS services, MPOS, QR codes, Aadhaar pay, IRCTC, flight ticket bookings and issuance of PPI instruments by Otabu Global Services Private Limited.
- 2021: ISO/IEC 27001:2013 for providing services facilitating financial inclusion program's and acting as corporate business correspondents to banks and payment banks, providing fintech platform and ensuring digital and online financial services for AEPS, MATM, DMT, BBPS, recharges, wallet loadings, CMS services, MPOS, QR codes, Aadhaar pay, IRCTC, flight ticket bookings and issuance of PPI instruments by Otabu Global Services Private Limited.
History and milestones
- 2015: Incorporated as RNFI Services Private Limited.
- 2017: The company became business correspondent of a leading Private sector bank.
- 2018: The company forayed into financial inclusion division by becoming a business correspondent of Public sector bank and Private sector Payment banks.
- 2019: The company entered into tourism industry, emerging as principal agent of IRCTC for train bookings.
- 2019: The company also became business correspondent for Fino Payments Bank.
- 2020: The company established a Wholly-owned Subsidiary namely, RNFI Money Private Limited.
- 2021: The company acquired a Subsidiary namely, Paysprint Private Limited.
- 2021: The company became business correspondent for NSDL Payments Bank.
- 2022: The company established a Wholly-owned Subsidiary namely, Reliassure Insurance Brokers Private Limited.
- 2022: The company became business correspondent for prominent Public sector bank.
- 2022: The company became a designated partner in Reliconnect LLP.
- 2022: The company associated with Ministry of Electronics & Information Technology for UMANG Project and Centre for Digital Financial Inclusion (CDFI).
- 2022: The company became vendor of a wholly owned subsidiary of a leading Public sector bank for delinquent loans collections.
- 2023: The company became business correspondent for prominent Public sector bank.
- 2023: The company became business facilitator for a leading Private sector bank.
- 2023: The company partnered with Maharashtra State Rural Livelihood Mission (MSRLM) for Woman Empowerment.
- 2023: Conversion of the Company from a private limited company to a public limited company.
- 2024: The company became business correspondent of two Private sector banks. Also, associated with a Private sector bank for provision of doorstep banking services.
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