RNFI Services — Q3 FY26 earnings call

The Paysprint had done actually extremely well, because they have the business banking and verification stack is doing massively well. PAT is approximately INR3.5 crores for this 9 months. And the revenue is approximately INR70 crores.

Analyst asked for Q3 specific numbers, but management provided 9-month figures, indicating a lack of granular Q3 disclosure for Paysprint.

Asked by Bharath Reddy

So basically, ARPU only where Sahayak are involved for Sprint verify, connected banking, the Sahayak is not involved. For insurance into the corporate, the Sahayak is not involved. So we're just classifying the business where the Sahayak is involved into the ARPU, where our corporate business is there and the Sahayak is not involved, that business is not classified as a Sahayak business, so we don't count it in the ARPU, sir.

Clarified the methodology for ARPU calculation, explaining why the reported ARPU did not align with total revenue and Sahayak count, which is crucial for understanding the company's performance metrics.

Asked by Priyankar Sarkar

I can't give you a number roughly, sir, because the new product, what traction is going to get. The regulation is there, the traction which we are getting by Tech play, which we are doing. But sir, it's a platform. So this will we anticipate it to keep increasing if everything goes as per plan and what we're planning to do. As I mentioned earlier, sir, we think this is just the tip of the iceberg, and we anticipate to increase considerably, sir, because the expenses won't increase, it would further reduce and the revenue would increase, sir. Yes.

Management provided a qualitative outlook on margin expansion, attributing it to the platform business model and new products, but refrained from giving specific numerical targets for future gross or EBITDA margins.

Asked by Priyankar Sarkar

Sir basically ARPU has been grown on RNFI as individual level, but we took of Payworld and once any integration happens, a few of the agents fall out from the old company, they get away so that is the reason the ARPU has not fallen, ARPU has increased for pay RNFI for sure but because the Payworld, but now it's the integration is more or less complete and you'll see the traction very much in the next quarter sir.

Explained that the lower ARPU growth was due to the integration of Payworld, which caused some agents from the old company to fall out, but clarified that ARPU for RNFI alone has increased.

Asked by Shlok

It's a diversified profitability, no single business has contributed a large sum. It's a diversified, contribution from all. See, you'll have to understand there's one development team, there's one major field team, so one HR team, one finance team. So it's that is the way and some products they might contribute high revenue, but profitability is negligible but some products they are low revenue but profitability is more.

Management emphasized that profit growth was diversified across various businesses rather than being driven by a single segment, highlighting the platform's ability to generate profit from different revenue models.

Asked by Harshraj Jadeja

Yes sir, reinsurance broking license as you told us it's for us it's all about clients and cross-sell. So, a few clients with whom we do insurance they asked us they had a bigger ticket size and they asked us if we could do reinsurance, but we did not have a license. Our criteria requirements required by IRDA were fulfilled. We did not require to put any capital or something, we just had to hire somebody with the reinsurance broking background so we thought why not apply for it and pitch this as an additional one product basically. So, hopefully, in the next two to three weeks, we'll apply for this license.

Provided an update on the reinsurance broking license, indicating an application within 2-3 weeks, which will enable cross-selling to existing clients with larger ticket sizes without significant capital outlay.

Asked by Harshraj Jadeja

Okay. But now that transition has taken place and now we can expect the growth to come back in DMT again? Yes sir, with the fourth quarter the transition is taken away, sir.

Confirmed that the DMT business is expected to see growth return in Q4 FY26, implying that the negative impact of regulatory changes has now been absorbed.

Asked by Chirag Gandhi

So basically sir, as we always say, the mention is -- the platform is going to remain the same. The team is more or less going to remain the same. So as you rightly said, we plan to increase the distribution, so increase the number of Sahayaks then increase the more the products on the Sahayak thus leveraging the Sahayaks to get more monetization. And on the left hand side the corporates, we keep increasing the corporates, we've started entering the BFSI space as well. So we'll see a lot of traction there. And then on the corporate side also, we keep increasing more products, thus monetizing the corporate also.

Management outlined a clear strategy for future growth, focusing on expanding the Sahayak network, increasing product offerings per Sahayak, and growing corporate clients with more products, all while leveraging the existing platform and team.

Asked by Vedant Punjabi