Past 10 year’s financial track record analysis by Moneyworks4me indicates that RNFI Services Ltd is a below 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 Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of RNFI Services Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation Index Colour Code Guide ⓘ
| Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|
| ROCE % ⓘ | 48.7% | 41.1% | 33.2% | - |
| Value Creation Index ⓘ | 2.5 | 1.9 | 1.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||
| Sales ⓘ | 152 | 145 | 145 | 145 |
| Sales YoY Gr. | - | -4.6% | 0.4% | - |
| Adj EPS ⓘ | 3 | 3.4 | 4.8 | 3.7 |
| YoY Gr. | - | 13.9% | 39.5% | - |
| BVPS (₹) ⓘ | 7.4 | 11 | 16.1 | 40.1 |
| Adj Net Profit ⓘ | 5.4 | 6.1 | 8.7 | 9 |
| Cash Flow from Ops. ⓘ | 1.3 | -27.6 | 28 | - |
| Debt/CF from Ops. ⓘ | 3.4 | -0.5 | 1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | NA | 0.4% | ||||
| Adj EPS ⓘ | NA | NA | NA | 39.5% | ||||
| BVPSⓘ | NA | NA | NA | 46.9% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|
| Return on Equity % ⓘ | 40.8 | 37.5 | 35.8 | 13 |
| Op. Profit Mgn % ⓘ | 4.5 | 6.3 | 6.6 | NAN |
| Net Profit Mgn % ⓘ | 3.5 | 4.2 | 6 | 6.3 |
| Debt to Equity ⓘ | 0.3 | 0.7 | 1 | - |
| Working Cap Days ⓘ | 0 | 100 | 148 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 21 | 39 | 0 |
Debt to equity has declined versus last 3 years average to 0.99
Return on Equity has declined versus last 3 years average to 13.00%
Sales growth has been subdued in last 3 years 0.00%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.7 | 4.3 |
| TTM Sales (₹ Cr.) | 145 | 935 |
| BVPS (₹.) ⓘ | 40.1 | 10 |
| Reserves (₹ Cr.) ⓘ | 75 | - |
| P/BV ⓘ | 5.66 | 22.70 |
| PE ⓘ | 61.98 | 53.21 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 566 |
| Equity (₹ Cr.) | 25 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 313 |
| Pledged * | 0.00 |
| Company Name | CMP(₹) | |||||||
|---|---|---|---|---|---|---|---|---|
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| Zaggle Prepaid Ocean | 361.7 | 15.6 (4.5%) | Small Cap | 776 | 5.6 | 5.7 | 62.2 | 3.8 |
| Suvidhaa Infoserve | 4.7 | 0 (0.9%) | Small Cap | 5.6 | -0.5 | -259.2 | - | 0.9 |
| RNFI Services | - | 0 (0%) | Small Cap | 0 | - | - | - | - |
| MOS Utility | - | 0 (0%) | Small Cap | 0 | - | - | - | - |
| Paymate India | - | 0 (0%) | Small Cap | 0 | - | - | - | - |
| India1 Payment | - | 0 (0%) | Small Cap | 0 | - | - | - | - |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|
| Sales | 152 | 145 | 145 |
| Operating Expenses ⓘ | 145 | 136 | 136 |
| Manufacturing Costs | 97 | 83 | 70 |
| Material Costs | 25 | 25 | 29 |
| Employee Cost | 15 | 20 | 26 |
| Other Costs ⓘ | 8 | 8 | 11 |
| Operating Profit ⓘ | 7 | 9 | 9 |
| Operating Profit Margin (%) | 4.4% | 6.3% | 6.4% |
| Other Income ⓘ | 3 | 3 | 8 |
| Interest ⓘ | 1 | 2 | 3 |
| Depreciation ⓘ | 1 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 7 | 8 | 12 |
| Tax ⓘ | 2 | 2 | 3 |
| Profit After Tax | 5 | 6 | 9 |
| PAT Margin (%) | 3.5% | 4.3% | 6.3% |
| Adjusted EPS (₹) | 3.0 | 3.5 | 5.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 13 | 19 | 29 | |||||||
| Share Capital ⓘ | 0 | 0 | 18 | |||||||
| Reserves ⓘ | 13 | 19 | 11 | |||||||
| Minority Interest | 0 | 0 | 0 | |||||||
| Debt | 4 | 11 | 26 | |||||||
| Long Term Debt | 4 | 11 | 16 | |||||||
| Short Term Debt | 0 | 0 | 10 | |||||||
| Trade Payables | 2 | 0 | 4 | |||||||
| Others Liabilities ⓘ | 80 | 68 | 90 | |||||||
| Total Liabilities ⓘ | 99 | 99 | 149 | |||||||
Fixed Assets | ||||||||||
| Gross Block | 8 | 7 | 26 | |||||||
| Accumulated Depreciation | 1 | 4 | 6 | |||||||
| Net Fixed Assetsⓘ | 7 | 3 | 19 | |||||||
| CWIP ⓘ | 4 | 1 | 1 | |||||||
| Investmentsⓘ | 12 | 5 | 6 | |||||||
| Inventories | 1 | 1 | 0 | |||||||
| Trade Receivables | 8 | 10 | 24 | |||||||
Cash Equivalents  ⓘ
| 50 | 24 | 47 | |||||||
| Others Assetsⓘ | 17 | 55 | 51 | |||||||
| Total Assets ⓘ | 99 | 99 | 149 | |||||||
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1 | -28 | 28 |
| PBT ⓘ | 7 | 8 | 12 |
| Adjustment ⓘ | -1 | 2 | 3 |
| Changes in Working Capital ⓘ | -3 | -36 | 16 |
| Tax Paid ⓘ | -2 | -2 | -2 |
| Cash Flow From Investing Activity ⓘ | 0 | -6 | -18 |
| Capex | -2 | -5 | -19 |
| Net Investments | 0 | -2 | -1 |
| Others ⓘ | 1 | 1 | 2 |
| Cash Flow From Financing Activityⓘ | -12 | 8 | 13 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 4 | 8 | 5 |
| Interest Paid ⓘ | 0 | -1 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 |
| Others ⓘ | -15 | 2 | 9 |
| Net Cash Flow ⓘ | -11 | -26 | 23 |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 40.81 | 38.03 | 37.47 | |||||||
| ROCE (%) | 48.72 | 41.12 | 33.21 | |||||||
| Asset Turnover Ratio | 1.53 | 1.46 | 1.17 | |||||||
| PAT to CFO Conversion(x) | 0.2 | -4.67 | 3.11 | |||||||
| Working Capital Days | ||||||||||
| Receivable Days | 18 | 22 | 43 | |||||||
| Inventory Days | 3 | 3 | 2 | |||||||
| Payable Days | 33 | 18 | 25 | |||||||
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
History and milestones
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