Slide 1: Cover letter to National Stock Exchange
May 30, 2026 To, The Manager Department of Corporate Compliance National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai — 400051. SCRIP SYMBOL: RNFI Sub: Earnings Presentation on Audited Financial Results (Standalone and Consolidated) for the Quarter and
Slide 2: Trusted Force Multiplier for Indian BFSI and More
TRUSTED FORCE MULTIPLIER FOR INDIAN BFSI AND MORE RNFI SERVICES LIMITED RNFI Services Limited | Investor Presentation
Slide 3: Obligatory Disclosure
OBLIGATORY DISCLOSURE This presentation, along with the accompanying slides (collectively referred to as the “Presentation”), has been created by RNFI Services Limited (the “Company”) solely for informational purposes. It does not constitute an offer, recommendation, or invitation to buy or subscrib
Slide 4: Forward Looking Statement
FORWARD LOOKING STATEMENT Certain statements in this presentation concerning our future growth prospects, financial expectations, business strategies, industry outlook, and other statements relating to the Company are “forward-looking statements” within the meaning of applicable securities laws and
Slide 5: What We Do
WHAT WE DO (Last 3 yrs) Sahayaks growth RNFI has a distribution network of 2.4 lac Sahayaks (Merchant touchpoints) which are CAGR 30.2% catering to 130 Partners out of which 95 are BFSI Partners, offering 26 products and generating an ARPU of 1108 per sahayak pm ARPU CAGR 13.9% Extensive reach Prese
Slide 6: Growth Flywheel
GROWTH FLYWHEEL SAHAYAKS PARTNER More Products TECH Integrated Tech Per Sahayak 1 1 Deeper Reach Vintage+Trust= More Better 4 2 4 2 RNFI + Lower Cost Strategic Stickiness Sahayaks earnings 3 3 SAHAYAKS PARTNER Superior LTV/CAC More Products Per Partner More Sahayaks More Partners More Products Highe
Slide 7: Evolution
EVOLUTION PHASE 1 - BUILD PHASE 2 - EXPAND PHASE 3 - MONETIZE 2026 Onwards 2016 Onwards 2021 Onwards Deposits DLC AePS CASA Loans Payments DMT Collections Insurance THE SERVICE PROVIDER THE P&L BUILDER THE BALANCE SHEET BUILDER Solving Operational Efficiency for partners Catalysing P&L outcome for p
Slide 8: Our Financial Model
OUR FINANCIAL MODEL Capacity Building on P&L Major Investment upfront in distribution : Revenue follows at near-zero marginal cost Operating Leverage Better Incremental ROCE As revenue scales, costs stay Smartphone/Device = branch; no flat; which leads to structural real estate, no heavy capex — jus
Slide 9: Granular Distribution
GRANULAR DISTRIBUTION Sahayaks Granularity (The Network) 221 Jammu & Kashmir 334 Himachal Pradesh 6941 75 Punjab ChandigarhU 390 tta ra 5832 kh an d 2733 38 Fragmented last-mile network Haryana Delhi Sikkim Arunachal 34 Pradesh 30326 4629 2.4L+ Active Sahayaks 9557 36294 72 Uttar Pradesh 81 Assam Ra
Slide 10: Granular Product Portfolio
GRANULAR PRODUCT PORTFOLIO Product Granularity Digital Onboarding Prepaid Contact Point Instrument System Verification (CPV) Traditional BC FUTURISTIC BUSINESS) (NON Insurance Transactional BC Broking Service EMI Collections Traditional Payment Suite Digital Onboarding System BC Prepaid Instrument U
Slide 11: Competitive Moat
COMPETITIVE MOAT Robust API platform with fast integrations Integrated Tech real-time & high uptime with time tested Scalability governance layer Highest Products Maximizes share of wallet by offering Per Sahayaks multiple products on one platform Lowest Cost Of Asset-light model delivers strong uni
Slide 12: What Went Wrong in FY26
WHAT WENT WRONG IN FY26 KEY REGULATORY CHANGES BEHIND THE SLOWDOWN DECLINE IN DMT TRANSACTION VOLUMES DMT volumes declined 69% due to revised RBI guidelines from ₹3,580 Cr in FY24–25 to ₹1,112 Cr in FY25–26 GTV ₹402 Cr. in PPI DMT PPI DMT BUSINESS DISCONTINUED business (Apr–Dec FY25–26) due to revis
Slide 13: What Went Right in FY26
WHAT WENT RIGHT IN FY26 New RBI BC draft guidelines expected to positively impact CRA* & CMS* business UPI Cash Withdrawal launched as a new growth product AD-II license now enables foreign trade transactions up to ₹25L per transaction which was not permitted earlier Appointment of Forex Corresponde
Slide 14: Management Comments
MANAGEMENT COMMENTS RNFI Services Limited has spent the last several months embedding AI and advanced technology into the core of its business, making innovation a foundation rather than an add-on. This technology-first approach has strengthened our nationwide service network by enabling faster onbo
Slide 15: Highlights Summary (Q4 FY26 vs Q4 FY25)
HIGHLIGHTS SUMMARY (Q4 FY26 VS Q4 FY25) Non Forex Net PAT Revenue Gross Profit EBIDTA EBIDTA PAT PAT Margin Margin 239.3 Cr. 50.8 Cr. 17.2 Cr. 8.4 Cr. 6.7% 3.5 % 12% 47% 42% 56% 29% 40% YoY Growth YoY Growth YoY Growth YoY Growth YoY Growth YoY Growth KEY TAKEAWAYS Our focus remains on margin-led gr
Slide 16: Annual Performance Highlights (FY26 vs FY25)
ANNUAL PERFORMANCE HIGHLIGHTS (FY26 VS FY25) Non Forex Net PAT Revenue Gross Profit EBIDTA EBIDTA PAT PAT Margin Margin 968.6 Cr. 184.9 Cr. 63.2 Cr. 32.4 Cr. 6.8% 3.3 % 6% 42% 46% 61% 48% 53% YoY Growth YoY Growth YoY Growth YoY Growth YoY Growth YoY Growth Active Activ New Current Current Net Worth
Slide 17: Corporate Governance
CORPORATE GOVERNANCE All Promoters Board of Promoter group A seasoned Despite being In a demonstration We have Regular and of strong belief in shares pooled Directors consist family owned management a SME listed appointed 1 timely RNFI's long-term in a Trust to of 4 Independent 12.7% of shares in bo
Slide 18: Major Events in FY26
MAJOR EVENTS IN FY26 Commencement of UPI QR based Cash withdrawal service in partnership with Jio Payments Bank Ltd AD II License approval for RNFI Money Pvt 2 Additional Branches approval from Reliassure Ltd from RBI Insurance Brokers Pvt Ltd received from IRDAI RNFI Services Ltd Appointed as Corpo
Slide 19: Directors & Management
DIRECTORS & MANAGEMENT Chairman & Founder & Chief Executive Executive Managing Director 11 Strategy Officer 11 Director 5 5 Director Ranveer Khyaliya Simran Singh Rahul Srivastava Kirandeep Singh Executive Chief Executive Chief Financial Chief Operating 10 Officer 2 Officer 6 11 Director Officer Dee
Slide 20: Financial Highlights FY25-FY26
FINANCIAL HIGHLIGHTS FY25-FY26 TRUSTED FORCE MULTIPLIER FOR INDIAN BFSI AND MORE
Slide 21: Products Cross Sell: Partners Growth
PRODUCTS CROSS SELL PARTNERS GROWTH CROSS-SELL 97 130 FY26 35 Added in FY26 Till FY25 Total Number of Partners 82 Product countwise Partners FY25 Number of Partners 54 FY24 62 24 30 FY23 12 17 FY22 9 1 12 5 FY21 8 1 2 3+ Number of Products RNFI Services RNFI Services Limited Limited | Investor | Inv
Slide 22: ARPU FY26 vs FY25
ARPU FY26 VS FY25 AVERAGE REVENUE PER SAHAYAK (ARPU/MONTH) 4% ARPU/Month (in ₹ ) 1108 1066 ARPU growth will be much stronger in next 3-4 years. 3-Year ARPU CAGR : 13.9% FY25 FY26 FY26 ARPU is calculated by adding Payworld's Active Sahayak Count ARPU without Payworld retailers is 1239. RNFI Services
Slide 23: Active Sahayaks & Product Cross Sell
ACTIVE SAHAYAKS & PRODUCT CROSS SELL ACTIVE SAHAYAKS COMPARISON FY25 FY26 GROWTH 11.8% No. of Products cross sell per Sahayak 240,694 215,314 1,15,724 8% 1 PRODUCT 1,07,601 2 PRODUCTS 56,429 60,170 7% 3 PRODUCTS 27,157 31,216 15% 4+ PRODUCTS 24,127 33,584 39% FY25 FY26 RNFI Services RNFI Services Li
Slide 24: Profitability: Profit After Tax
PROFITABILITY 2026 Profit After Tax (PAT in Cr.) 32.4 20.1 9.9 7.6 5.7 4.9 FY21 FY22 FY23 FY24 FY25 FY26 RNFI Services RNFI Services Limited Limited | Investor | Investor Presentation Presentation
Slide 25: Financial Highlights - FY26 vs FY25
FINANCIAL HIGHLIGHTS - FY26 VS FY25 NON-FOREX FOREX OVERALL PERFORMANCE FY25 FY26 FY25 FY26 FY25 FY26 Revenue 426.8 478.7 490.0 489.9 916.9 968.6 Gross Profit 123.4 179 6.7 6 130.1 185 Gross Profit Margin 28.9% 37.4% 1.4% 1.2% 14.2% 19.1% EBITDA 41.9 62.8 1.5 0.5 43.4 63.2 EBITDA Margin 9.8% 13.1% 0
Slide 26: Financial Highlights - FY26 vs FY25 (Non-Forex)
FINANCIAL HIGHLIGHTS - FY26 VS FY25 (NON-FOREX) INR in Cr. 478.7 179 62.8 32.7 FY26 12% 45% 50% 66% Revenue Gross Profit EBIDTA PAT *Revenue remained largely flat due to a decline in DMT volumes (a high-volume, low-margin business), which was offset by growth in higher-margin business. RNFI Services
Slide 27: Financial Highlights - Q4 FY26 vs Q4 FY25
FINANCIAL HIGHLIGHTS - Q4 FY26 VS Q4 FY25 NON-FOREX FOREX OVERALL PERFORMANCE Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Revenue 107.3 131.4 107.2 107.9 214.5 239.3 Gross Profit 33.2 49.6 1.3 1.2 34.5 50.8 Gross Profit Margin 31% 37.8% 1.2% 1.1% 16.1% 21.2% EBITDA 12.1 17.5 0.02 (0.3) 12.1 17.2
Slide 28: Financial Highlights - Q4 FY26 vs Q4 FY25 (Non-Forex)
FINANCIAL HIGHLIGHTS - Q4 FY26 VS Q4 FY25 (NON-FOREX) INR in Cr. 131.4 49.6 17.5 8.8 Q4 FY26 22% 49% 45% 59% Revenue Gross Profit EBIDTA PAT *Revenue remained largely flat due to a decline in DMT volumes (a high-volume, low-margin business), which was offset by growth in higher-margin business. RNFI
Slide 29: Key Company Fundamentals
KEY COMPANY FUNDAMENTALS KEY COMPANY FUNDAMENTALS FY26 FY25 PAT 32.4 20.1 ROE (Return on Equity) 22.4% 27.5% D/E (Debt Equity) 0.2 0.1 EPS 11.6 7.9 Current Ratio 1.7 1.5 Net Worth ( INR in Cr.) 169.7 112.1 RNFI Services RNFI Services Limited Limited | Investor | Investor Presentation Presentation
Slide 30: Let's Grow Together
LET’S GROW TOGETHER RNFI Services Limited | Investor Presentation