NSE: RNFI
RNFI SERVICES LIMITED
Operates across multiple financial services lines. The most recent quarterly segment data shows Forex (foreign exchange) at Rs 489.88 crore as the largest line, followed by Non Business Correspondent at Rs 285.04 crore, Business Correspondent at Rs 143.20 crore, and Direct Broking of Life and General Insurance at Rs 50.48 crore. The official period-end segment reporting groups revenue into Non Business Correspondent (68.0% of segment revenue at Rs 199.85 crore), Business Correspondent (30.3% at Rs 89.24 crore), and Others (1.7% at Rs 4.95 crore). FY26 revenue totalled Rs 968.60 crore with an EBITDA margin of 6.53% and net profit of Rs 32.44 crore. Materials and related expenses are the largest cost line at 30.5% of revenue, followed by employee costs at 10.1% and other operating expenses at 3.0%. Total assets stood at Rs 360.52 crore at FY26 year-end. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Forex, Non Business Correspondent (68%), Business Correspondent (30%), Direct Broking (Life & General Insurance), Others (2%). Asset-light financial services across multiple lines including BC, non-BC, forex, and insurance broking
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 917 | 969 |
| EBITDA (ex other income) | 37 | 58 |
| margin % | 4.0 | 6.0 |
| Owners' profit | 20 | 29 |
| EPS, as reported (₹) | 7.97 | 11.59 |
| ROE % · ROCE % | 17.6 · 22.2 | 18.5 · 23.8 |
| Debt / equity (x) | 0.14 | 0.15 |
| Cash from operations | 30 | (17) |
| Capex | (23) | (18) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 459 | 222 | 258 | 239 | 270 |
| Profit before tax | 15 | 12 | 13 | 12 | 7 |
| Net profit | 11 | 9 | 10 | 8 | 5 |
| EPS (₹) | 4.55 | 3.14 | 3.35 | 3.04 | 1.82 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Non Business Correspondent | 227 | 31.4 |
| Business Correspondent | 105 | 14.5 |
| Forex | 108 | 14.9 |
| Direct Broking (Life & General Insurance) | 46 | 6.4 |
| Others | 4 | 0.6 |
| Full Fledge Money Changer | 131 | 18.1 |
| Full Fledge Money changer | 102 | 14.1 |
| Total, before eliminations | 723 | 100.0 |
Exhibit 4: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Quarterly compliance certificate under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 7 Oct 2026 · Routine compliance filing under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 3 Oct 2026 · RNFI Services to acquire BC business of Arth and AgroServe | strategic transactions | high | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 26 Sept 2026 · AGM results: Both resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
| 26 Sept 2026 · RNFI Services holds 11th AGM via video conferencing on September 26, 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.