RNFI
RNFI Services financials
- Market cap
- ₹690 Cr
- Sector
- Financial Services
- Calls analysed
- 5
RNFI Services Q1 FY27
What went well
- Revenue grew by 8% YoY to ₹269.9 crores in Q1 FY27.
- Gross Profit increased by 15% YoY to ₹43.4 crores, reflecting a stronger business mix.
- PAT grew by 12% YoY to ₹5.1 crores, despite significant growth investments.
What to watch
- EBITDA declined by 10% YoY to ₹11.5 crores, and EBITDA margin compressed to 4.3% from 5.1% due to growth investments.
- PAT margin compressed to 1.9% from 2.3% YoY, impacted by direct and indirect costs of investments.
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 2 delivered 4 missed 8 open- Voluntary Quarterly Results delivered said Q4 FY25 Promised: We'll be giving from September this year. We'll give voluntary quarterly results. Q1 FY27: Held Q1 FY27 earnings call in Aug 2026, continuing the practice.
- Non-Forex Business YoY Growth missed said Q4 FY25 Promised: We anticipate to grow at the same pace (almost 50% YoY) over the next few years. Q1 FY27: The company's focus has shifted to a profitability growth target for FY27. No update provided on the original non-forex revenue growth target.
- FY27 Profitability Growth at risk said Q4 FY26 Promised: Based on our current business visibility, strategic initiatives, and execution plans, we expect the profitability growth in the range of approximately 40% to 45% year-on-year, subject to market conditions and regulatory developments. Q1 FY27: Q1 FY27 PAT declined 12% YoY due to heavy investments. Management reaffirmed the full-year guidance, expecting a 'very big leap' in Q3/Q4 to compensate. The target is now at risk.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 8.1%, net profit down 12.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 220 | 244 | 214 | 250 | 222 +1% | 258 +6% | 239 +12% | 270 +8% |
| EBITDA | 12 | 11 | 9 | 12 | 13 +13% | 17 +49% | 16 +75% | 11 −10% |
| Net profit | 7 | 6 | 5 | 6 | 9 +34% | 10 +59% | 8 +56% | 5 −12% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +14.8% 1Y
1Y: ₹295.65 on 10 Sept 2025 → ₹339.55. High ₹387.15 (13 Nov 2025), low ₹219.4 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.5%
- 10 Aug
- Q4 FY26
- +1.7%
- 2 Jun
- Q3 FY26
- −0.9%
- 13 Feb
- Q2 FY26
- −6.9%
- 14 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹969 Cr |
| Operating profit | ₹58 Cr |
| Operating margin | 6.0% |
| Interest | ₹2 Cr |
| Depreciation | ₹17 Cr |
| Net profit | ₹32 Cr |
| Net margin | 3.3% |
| Cash from operations | ₹-17 Cr |
| Free cash flow | ₹-34 Cr |
| ROCE | 27.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹18 Cr | ₹25 Cr | ₹25 Cr |
| Reserves | ₹8 Cr | ₹13 Cr | ₹20 Cr | ₹13 Cr | ₹110 Cr | ₹145 Cr |
| Borrowings | ₹17 Cr | ₹12 Cr | ₹19 Cr | ₹32 Cr | ₹36 Cr | ₹29 Cr |
| Other liabilities | ₹80 Cr | ₹92 Cr | ₹85 Cr | ₹126 Cr | ₹158 Cr | ₹162 Cr |
| Total liabilities | ₹105 Cr | ₹117 Cr | ₹125 Cr | ₹191 Cr | ₹329 Cr | ₹361 Cr |
| Fixed assets | ₹8 Cr | ₹10 Cr | ₹17 Cr | ₹40 Cr | ₹60 Cr | ₹60 Cr |
| Capital work in progress | ₹3 Cr | ₹4 Cr | ₹3 Cr | ₹7 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr |
| Other assets | ₹92 Cr | ₹103 Cr | ₹105 Cr | ₹143 Cr | ₹267 Cr | ₹298 Cr |
| Total assets | ₹105 Cr | ₹117 Cr | ₹125 Cr | ₹191 Cr | ₹329 Cr | ₹361 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Mar 2025, promoters trimmed −1.03 pp while FIIs added +0.88 pp. The shareholder count grew 13% to 1,570.
- Promoters
- 64.3%
- FIIs
- 1.2%
- DIIs
- 2.4%
- Public
- 32.1%
Since Mar 2025
- Promoters −1.03 pp
- FIIs +0.88 pp
- Public +0.12 pp
How it drifted, 6 quarters
Over this window the public went from 30.3% to 32.1% — +1.8 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 65.3%, FIIs 1.1%, DIIs 3.3%, Public 30.3%.Mar '25: Promoters 65.4%, FIIs 0.3%, DIIs 2.4%, Public 31.9%.Sep '25: Promoters 65.4%, DIIs 2.5%, Public 32.1%.Dec '25: Promoters 65.1%, DIIs 2.4%, Public 32.5%.Mar '26: Promoters 65.1%, DIIs 2.5%, Public 32.4%.Jun '26: Promoters 64.3%, FIIs 1.2%, DIIs 2.4%, Public 32.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Chanakya Wealth Creation Fund FPI fund newly disclosed 1.17% held
- Foreign Direct Investment Unclassified newly disclosed 1.17% held
- Krishnakumar Daga newly disclosed 0.00% held
The same filing shows 4 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of RNFI Services above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Deepankar Aggarwal (Simran Singh Private Trust) | 64.29% | −0.76 pp |
| Amit Gupta | 2.76% | −0.06 pp |
| Saurabh Tripathi | 2.62% | −0.21 pp |
| India-Ahead Venture Fund VC / PE | 1.30% | unchanged |
| Nnm Securities | 1.19% | −0.10 pp |
| Chanakya Wealth Creation Fund FPI fund | 1.17% | newly disclosed |
| Foreign Direct Investment Unclassified | 1.17% | newly disclosed |
| Deepankar Aggarwal | 0.02% | unchanged |
| Neha Agarwal | 0.02% | unchanged |
| Kapil Chawla | 0.01% | unchanged |
| Mohit | 0.00% | unchanged |
| Sapna | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse RNFI Services
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