---
title: "RNFI Services Ltd (RNFI) — Share Price, Financials & Analysis"
symbol: "RNFI"
company: "RNFI Services Ltd"
canonical: "https://tapetide.com/stocks/RNFI"
isin: "INE0SA001017"
nse_symbol: "RNFI"
sector: "Financial Services"
industry: "Other Financial Services"
market_cap_cr: 837.15
generated_at: "2026-09-13T18:46:44.930Z"
---

# RNFI Services Ltd (RNFI)

Canonical page: https://tapetide.com/stocks/RNFI

## Company

- **NSE Symbol:** RNFI
- **ISIN:** INE0SA001017
- **Sector:** Financial Services
- **Industry:** Other Financial Services
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Listed Since:** 2024-07-29
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** rnfiservices.com

## About

Incorporated in 2015, RNFI Services Ltd is a fintech firm that offers B2B and B2B2C solutions through its online portal and mobile application.[1]

## Latest Price

- **Price:** ₹339.55
- **Change:** +0.7 (+0.21%)
- **Open:** ₹343
- **Day High:** ₹345
- **Day Low:** ₹334.05
- **Previous Close:** ₹338.85
- **Volume:** 37800
- **As Of:** 2026-09-11T09:58:41+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:46.801820Z.

- **Market Cap:** ₹837.15 Cr
- **Classification:** SME
- **P/E (reported):** 27.1
- **P/E (TTM):** 30
- **EPS (TTM):** ₹11.32
- **Book Value:** ₹70.08
- **Price to Book:** 4.84
- **Dividend Yield:** 0%
- **ROE:** 17.58%
- **ROCE:** 22.19%
- **Debt to Equity:** 0.17
- **Revenue (yearly):** ₹968.6 Cr
- **Net Income:** ₹30.72 Cr
- **EBITDA:** ₹57.88 Cr
- **52-Week High:** ₹404
- **52-Week Low:** ₹216
- **RSI (14):** 74.34

## Tapetide Score

- **Score:** 56 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 74.1 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 56.22 | 9% |
| growth | 48.42 | 9% |
| momentum | 98.9 | 12% |
| ownership | 38.1 | 24% |
| quality | 88.04 | 22% |
| valuation | 26.29 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 31.1% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.2%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.76%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -36.49% | 248.83% | 456.8% |
| ebitda margin growth | -33.14% | 26.38% | 191.18% | 15.79% |
| net income growth | -39.29% | 52.84% | 75% | 31% |
| revenue growth | 12.55% | 4.89% | -3% | 49% |
| roce | -37.98% | -27.6% | -2.76% | 47.17% |
| roe | -39.47% | -43.51% | 23.84% | -81.51% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 220.3 | 244.27 | 214.49 | 249.59 | 221.83 | 257.84 | 239.34 | 269.91 |
| Expenses | 208.47 | 233.01 | 205.38 | 237.78 | 208.48 | 241.09 | 223.37 | 259.27 |
| Operating Profit | 11.83 | 11.26 | 9.11 | 11.81 | 13.35 | 16.75 | 15.97 | 10.64 |
| OPM % | 5.37 | 4.61 | 4.25 | 4.73 | 6.02 | 6.5 | 6.67 | 3.94 |
| Other Income | 0.91 | 0.66 | 2.98 | 1.03 | 2.37 | 0.71 | 1.24 | 0.87 |
| Interest | 0.54 | 0.48 | 0.55 | 0.65 | 0.47 | 0.54 | 0.54 | 0.58 |
| Depreciation | 3.24 | 3.85 | 4.36 | 4.31 | 3.5 | 4.34 | 5.15 | 4.03 |
| Profit before tax | 8.96 | 7.59 | 7.18 | 7.88 | 11.75 | 12.58 | 11.52 | 6.9 |
| Tax % | 26.67 | 21.21 | 25.49 | 26.78 | 25.19 | 24.32 | 27.43 | 26.67 |
| Net Profit | 6.56 | 5.98 | 5.35 | 5.77 | 8.79 | 9.52 | 8.36 | 5.06 |
| EPS in Rs | 2.45 | 2.1 | 1.83 | 2.08 | 3.14 | 3.34 | 3.03 | 1.81 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 134 | 188 | 1067 | 935 | 917 | 969 | 989 |
| Expenses | 124 | 181 | 1059 | 923 | 880 | 911 | 932 |
| Operating Profit | 10 | 7 | 7 | 12 | 37 | 58 | 57 |
| OPM % | 7 | 3.9 | 0.7 | 1.3 | 4 | 6 | 6 |
| Other Income | 2 | 2 | 3 | 7 | 7 | 5 | 5 |
| Interest | 0 | 1 | 1 | 3 | 2 | 2 | 2 |
| Depreciation | 1 | 1 | 2 | 4 | 15 | 17 | 17 |
| Profit before tax | 10 | 8 | 7 | 13 | 27 | 44 | 43 |
| Tax % | 26 | 29 | 25 | 24 | 25 | 26 | — |
| Net Profit | 7 | 6 | 5 | 10 | 20 | 32 | 32 |
| EPS in Rs | 746 | 523 | 539 | 5.8 | 7.29 | 11.56 | 11.32 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.1 | 0.1 | 0.1 | 18 | 25 | 25 |
| Reserves | 8 | 13 | 20 | 13 | 87 | 145 |
| Borrowings | 17 | 12 | 19 | 32 | 18 | 29 |
| Other Liabilities | 80 | 92 | 85 | 126 | 150 | 162 |
| Total Liabilities | 105 | 117 | 125 | 191 | 279 | 361 |
| Fixed Assets | 8 | 10 | 17 | 40 | 53 | 60 |
| CWIP | 3 | 4 | 3 | 7 | 4 | 0 |
| Investments | 2 | 0 | 1 | 0 | 0 | 2 |
| Other Assets | 92 | 103 | 105 | 143 | 222 | 298 |
| Total Assets | 105 | 117 | 125 | 191 | 279 | 361 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 5 | 20 | -20 | 47 | 30 | -17 |
| Cash from Investing Activity | -13 | 0 | -8 | -26 | -31 | -39 |
| Cash from Financing Activity | 14 | -6 | 8 | 7 | 46 | 39 |
| Net Cash Flow | 6 | 14 | -20 | 28 | 45 | -17 |
| Free Cash Flow | -5 | 16 | -27 | 18 | 6 | -34 |
| CFO/OP | 84 | 329 | -203 | 398 | 97 | -11 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 22 | 24 | 5 | 11 | 13 | 20 |
| Inventory Days | 42 | 35 | 2 | 3 | 6 | — |
| Days Payable | 34 | 18 | 1 | 3 | 1 | — |
| Cash Conversion Cycle | 30 | 41 | 6 | 11 | 18 | 20 |
| Working Capital Days | -188 | -98 | -10 | -27 | -21 | 6 |
| ROCE % | — | 34 | 24 | 30 | 29 | 27 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 89.53% | 65.34% | 0% | 65.38% | 65.1% | 65.11% | 64.35% |
| FIIs | 0% | 1.07% | 0% | 0% | 0% | 0% | 1.17% |
| DIIs | 0% | 0% | 0% | 0% | 2.42% | 2.49% | 2.42% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 16.18% | 0% | 25.01% | 25.15% | 24.88% | 23.49% |
| Others | 10.47% | 17.41% | 100% | 9.61% | 7.34% | 7.53% | 8.58% |
| No. of Shareholders | 30 | 1743 | 0 | 1671 | 1659 | 1552 | 1570 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 2 / 4

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 314.02 | Buy |
| EMA (10) | 317.33 | Buy |
| SMA (20) | 297.41 | Buy |
| EMA (20) | 303.86 | Buy |
| SMA (50) | 278.06 | Buy |
| EMA (50) | 282.72 | Buy |
| SMA (100) | 271.49 | Buy |
| EMA (100) | 248.87 | Buy |
| SMA (200) | 161.64 | Buy |
| EMA (200) | 190.63 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 74.36 | Sell |
| MACD (12,26,9) | 15.46 | Buy |
| Stochastic (14,3,3) | 90.7 | Sell |
| ADX (14) | 36.32 | Buy |
| Williams %R (14) | -7.28 | Sell |
| ATR (14) | 13.39 | High Volatility |
| ROC (12) | 16.03 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 56.68 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - MCA approved name; Board approved up to Rs.2,00,00,000 investment to set up RNFI Asset Distribution Pvt Ltd. | [Incorporation 9 March 2026 - MCA approved name; Board approved up to Rs.2,00,00,000 investment to set up RNFI Asset Distribution Pvt Ltd.](https://nsearchives.nseindia.com/corporate/RNFI_09032026142356_Intimation_Investment_in_WOS_.pdf) |
| 9 April 2026 - On April 9, 2026, Axis Bank accepted RNFI's proposal for BC service provider empanelment. | [General Updates 9 April 2026 - On April 9, 2026, Axis Bank accepted RNFI's proposal for BC service provider empanelment.](https://nsearchives.nseindia.com/corporate/RNFI_09042026191050_INTIMATION__.pdf) |
| 8 May 2026 - Wholly owned subsidiary RNFI Asset Distribution received AMFI registration valid from May 5, 2026 to May 4, 2029. | [General Updates 8 May 2026 - Wholly owned subsidiary RNFI Asset Distribution received AMFI registration valid from May 5, 2026 to May 4, 2029.](https://nsearchives.nseindia.com/corporate/RNFI_08052026183746_Intimation__6_.pdf) |
| 8 June 2026 - RNFI Services released Q4 FY26 earnings call transcript; management guided 40%-45% FY27 profitability growth. | [Analysts/Institutional Investor Meet/Con. Call Updates 8 June 2026 - RNFI Services released Q4 FY26 earnings call transcript; management guided 40%-45% FY27 profitability growth.](https://nsearchives.nseindia.com/corporate/RNFI_08062026141928_Intimation_Investor_Transcript__2_.pdf) |
| 8 Aug - RNFI issued Q1 FY27 earnings presentation; revenue rose 8% to ₹269.9 Cr, PAT up 12% to ₹5.1 Cr. | [Investor Presentation 8 Aug - RNFI issued Q1 FY27 earnings presentation; revenue rose 8% to ₹269.9 Cr, PAT up 12% to ₹5.1 Cr.](https://nsearchives.nseindia.com/corporate/RNFI_08082026201516_NSE.pdf) |
| 8 Aug - RNFI approved Q1 FY27 results, allotted 296,292 warrant-conversion shares, planned 75% Ambition Services acquisition, and fixed AGM for Sept 19, 2026. | [General Updates 8 Aug - RNFI approved Q1 FY27 results, allotted 296,292 warrant-conversion shares, planned 75% Ambition Services acquisition, and fixed AGM for Sept 19, 2026.](https://nsearchives.nseindia.com/corporate/RNFI_08082026150640_NSE.pdf) |
| 8 Aug - Board approved Q1 FY27 results, 296,292 warrant-conversion shares, 75% Ambition Services acquisition, and 19 Sept 2026 AGM. | [Outcome of Board Meeting 8 Aug - Board approved Q1 FY27 results, 296,292 warrant-conversion shares, 75% Ambition Services acquisition, and 19 Sept 2026 AGM.](https://nsearchives.nseindia.com/corporate/RNFI_08082026145807_NSE.pdf) |
| 7 Sep - RNFI signed a 3-year non-financial MoU with ASRLMS on September 7, 2026 to expand rural doorstep banking. | [General Updates 7 Sep - RNFI signed a 3-year non-financial MoU with ASRLMS on September 7, 2026 to expand rural doorstep banking.](https://nsearchives.nseindia.com/corporate/RNFI_07092026173522_Intimation_under_Reg_30_MOU__1_.pdf) |
| 7 Sep - RNFI Services received RBI in-principle approval for Payment Aggregator–Physical on 07 September 2026. | [Press Release 7 Sep - RNFI Services received RBI in-principle approval for Payment Aggregator–Physical on 07 September 2026.](https://nsearchives.nseindia.com/corporate/RNFI_07092026174528_NSE_Intimation_Press_release.pdf) |
| 7 April 2026 - Submitted Regulation 74(5) depository certificate for quarter ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 April 2026 - Submitted Regulation 74(5) depository certificate for quarter ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/RNFI_07042026120345_Regulation_74_5__31_03.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_32022_RNFI_2025_2026_A_35954120_10092026140124.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28897_RNFI_2024_2025_A_15407690_08092025150320.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25826_RNFI_2023_2024_05092024165153.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/RNFI_13112025200954_investor_ppt.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/RNFI_19112025185150_Transcript_RNFI__14_11.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/RNFI_12112024182955_Investor.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/RNFI_28052025145344_Investor_Presentation_with_Covering_Letter.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/RNFI_05062025194732_NSE_IntimationTranscript30052025.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:46:44.930Z.