RNFI Services share price today

RNFI Services Ltd's share price was ₹318.95 at the close on 4 November 2026. It has been rising for 7 weeks. That is 9.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹243 and ₹363, and at that close it sat 63% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today RNFI Services Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 16 weeks in a row.

Over the last 2.3 years the share price moved +107% while the NIFTY 500 moved −4%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: profit fell in the June 2026 quarter, lowest operating margin in 8 quarters and revenue up on a year earlier for 4 quarters in a row (every quarter we can compare).

1. Profit fell in the June 2026 quarter

   Profit was ₹5 crore, -12.3% on a year earlier (₹6 crore), after 3 quarters of growth.

   Why: Profit fell because the company spent more on people and technology for growth, and those costs hit profit.

   Next results: check whether margins improve as the Q1 spending starts to pay off.

   From the earnings call on 10 Aug 2026.

2. Lowest operating margin in 8 quarters

   Operating margin was 3.9% in the June 2026 quarter, against 4.7% a year earlier.

   Why: Operating margin fell because the company spent more on people and technology for growth, and those costs hit expenses.

   Next results: check whether the margin improves as the Q1 spending starts to pay off.

   From the earnings call on 10 Aug 2026.

3. Revenue up on a year earlier for 4 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹270 crore, +8.1% on a year earlier.

   Why: Revenue rose partly because the foreign exchange business earned more from higher dollar prices and more volume.

   Next results: check whether insurance and loan-collection income keeps growing.

   From the earnings call on 10 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), RNFI Services reported revenue of ₹270 crore, up 8.1% from ₹250 crore a year earlier, and a profit of ₹5.06 crore, down 12.3% from ₹5.77 crore.

RNFI Services results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

RNFI Services' management discussed these results on a call held on 10 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

RNFI Services closed at ₹318.95 on 4 November 2026, down 12.2% from ₹363.20 a year earlier (7 November 2025). Its highest weekly close since August 2024 was ₹375.50 on 3 October 2025.

RNFI Services share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

123 weekly closes from 2 August 2024 to 4 November 2026.

4 Nov 2026: RNFI Services closed at ₹318.95, up 1.3% on the week and up 5.1% on the month. 10 Aug 2026: RNFI Services held its results call for April to June 2026. Management guided: Full-year profit growth guidance remains intact.

Earlier

• Results for April to June 2026: Revenue up 8.1% and profit down 12.3% on a year earlier.

RNFI Services has paid no dividend on the NSE since its first NSE close in our records (2 August 2024), the start of the period we checked.

No. RNFI Services Ltd paid out 0% of its profit as dividends in each of its last 6 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 10 August 2026, RNFI Services' management guided: Full-year profit growth guidance remains intact.

“Our dependence on one product should not be such that, if there are any headwinds tomorrow, we become constrained in terms of growth in the coming quarters.”Sameer Nagpal, on the call for April to June 2026

What management guided

• Q3-Q4 expected to show a very significant leap and support delivery of full-year guidance.
• Paysprint expected to perform very strongly over the next 3 quarters and support FY28 scale-up.
• Average ARPU expected to increase as agent consolidation progresses.
• Payworld RBI change-of-control outcome expected soon; PPI and money products to scale after approval.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 10 August 2026.

The changes showing up in RNFI Services' own numbers are new products. It is too early to say whether they last.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026.

New-service revenue expands while contribution profit remains absorbed by staffing and customer acquisition.

Each change stops working if

• Higher-margin service substitution: New-service revenue expands while contribution profit remains absorbed by staffing and customer acquisition.
• Connected-banking diversification: Connected-banking expansion fails to offset shrinking money-transfer products after associated technology and distribution spending.
• Additional distribution products: Launches or approvals slip, or agent adoption does not generate contribution above incremental servicing costs.

The main risks

• : The latest annual earnings did not convert into operating cash. ⚠ estimate
• : Payments rules continue changing after earlier disruption was described as phased out. ⚠ estimate
• : Management's recovery timetable is inconsistent while spending continues. ⚠ estimate
• : The promoter-stake decline is unexplained. ⚠ estimate

Our read after the April to June 2026 results, written 10 October 2026.

When RNFI Services reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Sep 2026 quarter operating profit above the Sep 2025 figure of 13.35 crore, with management giving a sales or growth figure for insurance and loan collections.

RNFI Services is on one of our India lists: Momentum stocks.

RNFI Services Ltd earned ₹5.1 Cr of net profit in the Jun 2026 quarter, −12.3% on the same quarter a year earlier. Full-year FY26 profit was ₹32.0 Cr. Over 5 years profit has grown 35.5% a year on average. That is 1.9% of the quarter's revenue. The same quarter a year earlier earned ₹5.8 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹32.0 Cr (+60.0% on the year before).

Why profit moved: revenue changed +8.1% on a year earlier and the margin moved −0.8 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +34.3% and revenue +6.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. Profit grew faster than revenue before another spending phase.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

RNFI Services Ltd reported ₹270 Cr of revenue in the Jun 2026 quarter, +8.1% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 5 years it has grown 48.5% a year on average. The last full year, FY26, came in at ₹968 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹989 Cr.

FY26 revenue was ₹968 Cr, +5.6% on the year before.

Recent pace: the last four quarters grew +6.5% on average, against 48.5% a year over the longer run, so this year is growing slower than its own long-run rate.

FY26-Q4. Profit grew faster than revenue before another spending phase.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

RNFI Services Ltd's operating margin was 3.9% in the Jun 2026 quarter, 0.8 percentage points lower than the same quarter a year ago. Across 6 years it has been between 0.7% and 7.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The Value Chain Climb and Product Mix Change describe this mechanism. Earlier profit growth outpaced revenue growth, but the latest summary says insurance profit conversion lagged revenue because of hiring and telemarketing costs. Treat mix, cross-sales and distribution utilization as one dependent earnings mechanism. The remaining benefit depends on retained contribution after agent compensation, acquisition spending and customer demand; segment economics are not disclosed.

Why the margin moved: operating margin changed −0.8 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY26-Q4. Profit grew faster than revenue before another spending phase.

Why-sources: our stock research file (10 October 2026) and the company’s own results for those quarters.

Over the last 3 years, 97% of RNFI Services Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 its operations used ₹17.0 Cr of cash, against ₹32.0 Cr of profit. After ₹20.0 Cr of spending on assets, free cash was −₹37.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Why this happened. These are conditional opportunities rather than established earnings. The latest call describes launch timing as unclear and payment activity as exposed to regulatory changes. RNFI must secure product availability, attract agents and customers, and retain commission after partner and agent payments. No incremental profit is assigned before those conditions are observed.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 97% of profit came in as cash: the cash cycle got 12 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.1× depreciation over three years. The next section checks what that spending is building.

RNFI Services Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 18 days in FY26, down from 30 days in FY21. It spent ₹76.0 Cr on assets over the last 3 years. Customers take 20 days to pay, and stock sits for 5 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. Management gives a historical payback framework and expects later-year earnings contribution, but the latest call confirms continuing expenditure. The Operating Leverage Catapult fails as a description of present results because costs are still being added. Recovery requires incremental gross profit to exceed those costs. The bundle supplies neither utilization measures nor a realized return calculation.

At FY26 sales of ₹968 Cr, each day of that cycle ties up about ₹2.7 Cr, so roughly ₹48.0 Cr is tied up in the business at any time.

FY26: customers took 20 days to pay and stock sat for 5 days, about 0.2 months of sales sitting as stock, for a full cycle of 18 days, shorter than FY21's 30.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 5 days. Customers pay about 20 days after that. Suppliers are paid at 7 days. Together that makes the 18-day cycle.

Spending on assets: ₹76.0 Cr over the last 3 years, against ₹36.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹4.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

RNFI Services Ltd's P/E is 28.6×, near the low end of its own history: it has been lower only 27% of the time. Its usual P/E (the middle reading) is 33.7×, over 2.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹11.32.

Why the multiple is where it is: over the past year earnings per share moved +60.5% while the price moved −12.2%. Earnings did better than the price, which pulled the multiple down within its own range.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 28% on reported income across 8 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Worked out from its price on 11 October 2026, RNFI Services Ltd's share price assumed profit growth of about 15.1% a year. Over the past 5 years its profit actually grew 35.5% a year. Today its P/E is 28.6×, lower than 73% of its own last 2.2 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

RNFI Services Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 4 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

RNFI Services Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: CONTRACTION.

NOT YET CHECKED

From the price. Price stage 2, week 7, above its 200-day line, relative strength rising.

Where they disagree. Earlier earnings expansion and recent profit compression can coexist; the latest reported weakness governs the immediate execution read.

What the company does. Insurance and delinquent-loan collections offer a route beyond low-spread transaction products, with distribution spending preceding the expected earnings contribution. The latest quarter shows that revenue growth alone does not validate the strategy: operating profit fell as the cost base expanded.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: Revenue growth could suggest that the business is progressing. The research reads it further: Operating profit fell despite higher revenue, locating the dominant earnings pressure before financing and tax. Lower depreciation and interest versus the comparator do not explain the deterioration.

What the surface reading misses. The surface reading is: Rapid profit growth suggests accelerating earnings. The research reads it further: Operating profit rose faster than revenue, supporting improved operating economics. The previous year's other-income benefit makes the comparison less flattering rather than creating a clean low base.

Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What RNFI Services Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

Conflicting Q2 Growth Outlook · 10 August 2026. Within the Aug 2026 call, management first said Q2 would be much better than Q1, but later characterized both Q1 and Q2 as having relatively modest growth. This conflicting phasing of the near-term earnings recovery matters for quarterly estimates and should be reconciled, particularly because management placed the significant leap in Q3 and Q4.

DMT Bottom-Line Impact Contradiction · 2 June 2026. During the prepared remarks of the Jun 2026 call, management explicitly stated that the regulatory shutdown of their PPI-DMT business negatively impacted the company's bottom line by 4 crores. However, during the Q&A session of the exact same call, management contradictorily claimed that the DMT business did not affect the bottom line in an attempt to downplay the impact of volume declines.

Revenue Performance Assessment · 13 February 2026. Management provides an internal contradiction regarding top-line results during the February 2026 call. They initially report that revenue growth was stagnant due to a 20-25 crore gap in the Domestic Money Transfer (DMT) business, but then describe the overall top-line growth as very considerable in the same section of the call. Earlier call (Feb 2026): “Top-line growth has been stagnant this quarter again due to the DMT (Domestic Money Transfer) business, which we mentioned in the last call.” Later call (Feb 2026): “Otherwise, the top-line growth has been very considerable because there was approximately a 20-25 crores lag that we have covered through other high-margin businesses.”

Reinsurance License Timeline · 13 February 2026. Management gives conflicting accounts of the status of their reinsurance broking license application within the February 2026 call. The CSO states in his opening remarks that the application is being filed now, but during the Q&A session, management admits they still need to hire staff and expect to apply in 2 to 4 weeks. Earlier call (Feb 2026): “but it is all now completed and we would be applying for that corporate reinsurance license now.” Later call (Feb 2026): “We fulfilled the IRDA requirements and just needed to hire experienced staff. We expect to apply for that license in the next 2 to 4 weeks.”

Every quote above is taken word for word from the company’s own earnings calls.

RNFI Services Ltd earned a ROCE of 27% in FY26. That is up from a low of 24% in FY23. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 3.3% net margin and 2.68× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 3.3% net margin × 2.68× asset turnover × 2.12× leverage (assets divided by equity) ≈ 18.7% on equity. The margin does its share; borrowing is a big part of it.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 28% on reported income across 8 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

RNFI Services Ltd had ₹29.0 Cr of borrowings against ₹170 Cr of equity in FY26, so its debt is 0.17× its equity. Its operating profit is 29 times its interest bill. Over 5 years borrowings went from ₹17.0 Cr to ₹29.0 Cr. Over the last 3 of those years it spent ₹76.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 28% on reported income across 8 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Domestic institutions cut their stake in RNFI Services Ltd by 2.6 percentage points over 6 quarters, the biggest change among its owners. Domestic institutions now own 0.7% of the company. Promoters moved −1.1 points over the same period, to 64.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: −2.6 points over 6 quarters, to 0.7%; Promoters: −1.1 points over 6 quarters, to 64.3%; Foreign institutions: +0.3 points over 6 quarters, to 1.4%.

Why the owners changed: domestic institutions drove it (−2.6 points), together with promoters (−1.1 points). They reduced their stake.

For RNFI Services Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

51.1 out of 100, rank 8 of 13 in E-Commerce - Platform - Utility, with 56% of the evidence available.

RNFI Services Ltd scores 51.1 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 8. Some evidence is missing, so the score is pulled toward the middle on purpose.

The four parts add up to the total exactly: 14.5 + 15.5 + 10.1 + 11 = 51.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

RNFI Services ranks 8 of 13 E-Commerce - Platform - Utility companies on the 4-Factor Sector Score, with 51.1 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: E-Commerce - Platform - Utility, all 13 compared on one page.

RNFI Services is the 13th largest of 13 E-Commerce - Platform - Utility companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Just Dial, MPS, MSTC, One Mobikwik Systems, Creative Newtech and Macfos. It is the smallest.

E-Commerce - Platform - Utility companies close in size

7. Just Dial Ltd ₹5,481 crore
8. MPS Ltd ₹3,970 crore
9. MSTC Ltd ₹3,765 crore
10. One Mobikwik Systems Ltd ₹1,693 crore
11. Creative Newtech Ltd ₹1,670 crore
12. Macfos Ltd ₹1,179 crore
13. RNFI Services Ltd ₹800 crore

All 13 E-Commerce - Platform - Utility companies, largest first

Companies close in size in other industries

1730. RRP Defense Ltd ₹802 crore · Miscellaneous
1731. Fairchem Organics Ltd ₹801 crore · Chemicals - Organic
1732. RNFI Services Ltd ₹800 crore
1733. Amines & Plasticizers Ltd ₹799 crore · Speciality Chemicals
1734. Manoj Vaibhav Gems N Jewellers Ltd ₹799 crore · Diamond, Gems & Jewellery

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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