RNIT AI Solutions Limited appointed M/s. Patcha & Associates, Chartered Accountants, as its internal auditors for the financial year 2026-27. The decision was approved by the Board of Directors during a meeting held on October 3, 2026.

The appointment follows the recommendation of the Audit Committee. The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Profile

M/s. Patcha & Associates is based in Hyderabad and is led by Mr. Sriramulu Patcha. He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) and a qualified Cost Accountant with over 15 years of professional experience.

The firm's areas of expertise include:

• Internal Audit
• Statutory Audit
• Tax Audit
• Project Financing
• Business Valuation
• Mergers & Acquisitions
• Capital Reduction Schemes
• Financial Statement Analysis

Board Meeting Details

The Board meeting commenced at 10:30 am and concluded at 11:15 am. The company also referenced SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the disclosure requirements.

RNIT AI Solutions Limited has entered into a Master Development Services Agreement with 1FC Technology Private Limited for the design and deployment of technology solutions within the 1FC digital financial ecosystem. The deal marks the company’s strategic entry into the FinTech, WealthTech and InsurTech domains.

The agreement covers the development of two primary solutions: 1FCCode, a financial and wealth technology platform, and 1FC Insure, an insurance technology suite. RNIT will handle design, development, integration, testing and deployment for both modules.

Scope of Engagement

The 1FCCode solution integrates capabilities across investments, portfolio analytics, financial planning, lending, insurance, digital onboarding and identity management. It also includes data aggregation, financial analytics, spending intelligence, customer management and regulatory compliance technology.

A central component of this solution is NIA, RNIT’s AI assistant. Under the agreement, NIA will support conversational orchestration, contextual financial information access, multilingual interaction, voice input, text-to-speech, guided goal-planning and compliance guardrails.

The 1FC Insure solution encompasses insurance technology functions including Point of Sale Person (PoSP) onboarding, training, insurer integrations, quotation workflows, policy issuance, servicing, claims management, commission handling and AI-based document OCR. It also covers CRM, analytics, regulatory reporting and customer self-service features.

Deal Structure and Terms

The project is classified as a Tier-3 order, indicating a value between ₹5 crore and ₹15 crore inclusive of GST, as per the company’s internal policy. The overall duration is contingent on implementation plans, module sequencing, third-party readiness and change requests.

RNIT retains ownership of its background intellectual property, including NIA and reusable technology components. Client-specific deliverables are subject to the agreement’s ownership provisions. The arrangement does not constitute a related-party transaction, and the promoters of RNIT have no interest in 1FC.

What the Numbers Show

The classification of this engagement as a Tier-3 order places its value in the ₹5 crore to ₹15 crore range. This represents a significant single-project commitment for a company previously known as Autopal Industries Limited, highlighting a pivot toward higher-value software engineering contracts in the BFSI sector rather than traditional industrial operations.