#RNFI @ 285 Stock still near its Pref price of 270 Expecting solid margin expansion and good results Thesis 👇🏻 - Long-term vision to build a scalable, trust-based BFSI platform acting as a force multiplier for banks and financial institutions. - ⁠Strong emphasis on transparency and governance. Promoter shares parked in a trust; transfer completed. - Independent board structure. - Voluntary early compliance with NSE & LODR requirements. - ⁠Promoters KMP subscribed to 17.6% of warrant issue in Oct 2025, at 270/- per share and current price is in same range in May 2026. - RNFI operates a B2B2C platform model connecting Banks / BFSIs / Insurance companies. Products (banking, insurance, payments, forex, collections, etc.) sold through Ground-level agents Sahayaks. - ⁠Platform handles compliance, FRM, accounting, reconciliation & technology, enabling scalability. - Plan to Increase agents, clients and products without proportionate increase in manpower. - Pan-India presence covering a large number of PIN codes. Growing base of active sites and monthly transaction volumes. Client count increased from 5 clients in FY21 to 112 clients in FY26. - ⁠Increasing cross-sell intensity: 8 new clients added with at least one product in H1. Several clients migrated from single product to multiple product. - Multiple new partnerships with banks and financial institutions. Launch of in-house tele-marketing insurance portal. - Paysprint is the company where they hold 67%. Launch of Escrow & Excode products. Fundraise completed at INR 120 Cr valuation. - RNFI Received ISNP approval from IRDAI. - Large-scale doorstep banking engagement with a universal bank - expected to be highly scalable. - AD-II (Authorised Dealer Category-II) license received for forex/remittance business. - Launched : Cash Management Services (CRA role), Motor Insurance (ReliAssure platform) and Air Ticketing platform (B2B2C via Sahayaks). - In line RNFI Money Forex Portal (post bank integration). Out of 12 planned products: - Aggressive deployment of AI & automation to reduce manpower dependency. - In-house development of: OCR & identity verification, Auto fund-clearing requests, Automated reconciliation (Python-based), Proprietary dialer system (cost reduction in collections business which has a huge TAM). - Shift toward higher-margin products, leading to Non-forex PAT margin improvement to 6.5% vs 4%. - ARPU impacted temporarily due to Payworld consolidation. Normalised ARPU expected to trend higher going forward. - ⁠Active site base increased by 18.8% HoH. Management confident of sustained ARPU expansion as mix improves. - DMT Business : Decline already absorbed; no further downside expected. - ⁠Historically high volume, very low margin. Replacement with diversified, higher-margin products underway. - Forex & Remittance Business : AD-II license received. Systems ready; bank integrations in progress. - ⁠Expecting a gradual scale-up from Q4 FY26, with stronger traction in FY27. - Focusing on Outward remittances, Forex card, Lower working-capital intensity vs physical currency business. - Paysprint : As per last concall Management expects profitability improvement from Q4. - Payworld : Active agents: 40,000 (post consolidation). Short-term agent decline due to cost rationalisation. - ⁠Expected hockey-stick recovery post consolidation. - IPO funds largely unspent on opex; used for working capital. INR 25 Cr still unutilised. - Preferential issue: Working Capital required more in CRA business, Insurance expansion, AD-II & cross-border remittance opportunities, Proposed composite insurance license. - Margin trajectory expected to improve further. - Product diversification remains key growth lever. - Focus remains on B2B2C model via Sahayaks, not cash-burn heavy B2C expansion. - ⁠Strong belief in technology-led scalability and compliance-first execution.

excode

ExCode

EVEDYONE SHIUDL NJUST DIE WE SJDOUL ALL JUST EXCODE

A LINHA ROSA É ROSA. VERMELHO É O DEAD NAME DELA, A SUA GENDER EXPRESSION É ROSA!!! A SUA EXCODE É DE ROSA!! PAREM DE A CHAMAR VERMELHA. LINHA RO SA. SE TU DIZES QUE ISTO É VERMELHO TU ÉS DALTONICO E TRANSFOBICO

Excode Talker

Stretching... Even Excode is flustered... Give her a break...

#SME #RNFI #RNFIServices RNFI Services H1 FY26 Concall Highlights: 👉FY 2026 & Future Outlook : ▫️Emphasized a cautious approach, stating they cannot provide formal guidance due to regulatory constraints 💠Expect continued revenue stability and growth through H2 FY26, driven by scaling new products and Forex revival 💠PaySprint (material subsidiary) reported H1 topline of ₹71 Cr; H2 is projected to exceed H1 figures, with overall consolidated revenue targeted to grow 💠H1 FY26 consolidated revenue stood at ₹471.4 Cr, a modest growth despite a 49% decline in domestic money transfer volumes due to regulatory changes. This was offset by diversification into higher-margin products (e.g., non-forex segments grew to ₹220.7 Cr, up 6.7%). 💠ARPU was ₹1,294 for H1 FY26, but temporarily diluted by lower-ARPU payroll agents; management expects a rebound to ~₹1,400 levels, supporting higher topline. 💠Market rumors of ₹40 Cr PAT for FY26 were dismissed as speculation ▫️Expect further PAT margin expansion in H2 FY26 and FY27, targeting 7% overall, as new products mature and Forex ramps up (post-AD2 license) 💠Q2 FY26 PAT margin already hit 4% (up from 3% YoY). 💠Shift from low-margin businesses (e.g., Forex scaled down to 0.1% of revenue for capital optimization; DMT contributed ~₹30 Cr less) to higher-margin alternatives, aided by AI-driven cost reductions ▫️Quarterly results disclosure starting now (beyond SME norms). 👉Projects and pipeline: ▫️Client Integrations: Added 18 new clients on a single product in H1 FY26, plus 11 clients upgrading to 2 products (total clients: 112, up from 82 at end-FY25) 💠This includes strategic pilots like doorstep banking with a major universal bank (deemed "highly scalable") and co-branded banking expansions. ▫️Active Deployments: 1.9 lakh active agents across 17,700 PIN codes, processing 3.1 Cr monthly transactions 💠Non-forex module penetration at 6.5% of active base, with ARPU contributions from integrated products (e.g. modules covering compliance, FRM, and accounting). ▫️AI-driven tools: In-house OCR/identity verification, auto fund request clearing, and automated reconciliation systems deployed, reducing manpower needs. ▫️Forex Operations: Beta launch of Relimoney Forex Portal for B2C bookings; AD2 license received ~20-25 days prior (integration with 4 major banks, 2 live soon; SWIFT/banking APIs tested/in-process). ▫️PayVault: 40,000 active agents (consolidated post-RNFI integration; UPI for foreigners product live, loading via credit cards for revenue cut). ▫️Tech Infrastructure: In-house dialer system for collections; ISO compliance at PaySprint; digital POS onboarding for insurance agents. ▫️Recent Wins: Funds raised in PaySprint; IRDAI approval for Reliassure; launches of Sprint EXcrow/EXcode in PaySprint; insurance telemarketing portal operational ▫️Pipeline: 💠 Product Launches: Of 12 new products announced previously, 3 launched (motor insurance on Reliassure portal, air ticketing B2B2C platform, cash replenishment/agency services); 1 imminent (RNFI Money Portal for forex cards/remittances in 2-3 months, post-RBI nod) 💠Remaining 8 in development, rolling out in phases (2-3 per quarter) to align with marketing bandwidth—focus on B2B2C via Agent network initially, expanding to B2C. 💠Expansion Areas: Forex remittance/card business (targeting 18 LRS categories, including students; margins 0.5-2% based on corporate/retail); PPI license application to RBI (expected soon); co-lending/insurance scaling with working capital from recent fundraise 💠Geographic/Scale Targets: Pan-India push, with North India priority (starting from Delhi); regional growth tied to bank requirements 💠 Aim: Stagnant employee base (1,900 ) while scaling clients/products/Agents 💠Strategic Moves: Potential demerger of PayVault/PaySprint for valuation unlock (post-scale); warrant allotment recently done 👉 Others : ▫️Declines and Mitigations: DMT business down further (no recovery expected due to regulations; minimal PAT impact as it was low-margin) 💠Forex intentionally scaled back (to ₹1.2 Cr revenue) for capital efficiency—full ramp-up post-licenses. ▫️Fundraise and Utilization: Preferential warrants raised for working capital (AD2 remittances, insurance expansion); ~₹25 Cr of IPO proceeds unutilized as of H1 end 💠No immediate demerger plans, but under internal discussion for future ▫️AI/Tech Focus: Heavy investment in proprietary tech (e.g., Python/ML reconciliation, face-match algorithms) for cost reduction and scalability ▫️Governance All promoter shares pooled in a trust; promoter group relinquished 12.7% stake in PaySprint to RNFI (now 65% owned); 4 independent directors ▫️Group Structure: Diversified into 9 entities (e.g., Relipay for BC services, Paysprint for EMI/collections, Reliassure for insurance); RNFI shareholding in Paysprint at 65% ▫️Q2 Specifics: Revenue ₹221.8 Cr; PAT ₹8.8 Cr; EBITDA margins improving

Total Attack Points Allied Code Talker: 4300 Excode Talker: 2300 Transcode Talker: 2800

Pedro é safado. Foi safado com o Fluminense e pelo visto está sendo safado com o Flamengo... Como já diria o poeta "vuxe é xafado... De excode atrax da religião"

claud-codeでSwiftUIを使用してカレンダーアプリの実装をやってみました。 Cursor Pro Max以上の精度かも？ あれは高すぎる😅 １ヶ月すぎると0に。。。 claude-codeも高いですが、使い方次第ではコストカットできるかも？ GitHub Copilot For Excodeだけでもできそうではあります。 途中でエラーも出たのでやはり人間がスキルを上げるしかない👋😇 VSCodeの拡張機能を使えば、ターミナルで起動しなくも使用できます。 marketplace.visualstudio.com…

mine's Excode Talker (looking cool with the artwork) and Protectcode Talker (for being Firewall's buddy)

He sabido cuál era por un Thrush que lleva un excode mal jajajaja

Currently on a 4 game winstreak and nobody knows how to stop this deck from going 15 My last opp held Rebellious Lu Feng to try and pop... Something, but I just made Excode Talker. XD

JPMorgan is hiring for Java Software Engineer 1 Salary Range: 20-30 LPA Location: Bangalore Apply here: jpmc.fa.oraclecloud.com/hcmU… Excode Technologies is hiring for DevOps Engineer Intern Stipend: 15K-20K per month Salary: 7-9 LPA Apply here: cuvette.tech/app/public/inte… F5 is hiring for Intern - Technical Expected Stipend: 30k-50k per month Location: Hyderabad/Bangalore Apply here: ffive.wd5.myworkdayjobs.com/…

How many times can you patch a tire before you don't have a tire anymore. This seems to be the X code that will hopefully be the excode.

今までずっっっとPACKCODEだと思ってたらEXCODEのパックが存在してることに気づきました 一部タイトルやらサムネやら間違ってます 気が向いたら直します(浅瀬ちゃぷちゃぷ)

2020年8月17日にゼノンザードのサブブースターパック｢EXCODE:03 バトルスピリッツ｣がリリースされました｡同年6月にコラボしたバトスピから更に全46種のカードを収録｡多くの復帰勢を呼び込んだアニメ｢サーガブレイヴ｣人気の影響も手伝って双方の新規ユーザー獲得に成功しました｡ #今日は何の日

🌪️I took Playmaker's Excode Talker, lets see him win duels now

Excode Technologies is hiring for Fullstack Developer Intern Stipend: ₹ 10K - 12K per month Job Offer: ₹ 8 LPA - 10 LPA Location: Remote cuvette.tech/app/public/inte…