EV Loan Provider Mufin Green Announced Financial Results

Today, shares of Mufin Green Finance Ltd gained 1.96 per cent to an intraday high of Rs 119.35 per share from its previous closing of Rs 117.05.

Mufin Green Finance has announced financial results with a rise of Net profit by 52.26% to Rs 4.05 crore in Q4FY24 as against Rs 2.66 crore during Q4FY23. Sales rose 138.46% to Rs 32.12 crore in Q4FY24 as against Rs 13.47 crore during Q4FY23

For the full year, net profit rose 97.78% to Rs 16.06 crore in FY24 as against Rs 8.12 crore during FY23. Sales rose 183.76% to Rs 97.70 crore in FY24 as against Rs 34.43 crore during FY23.

The stock's 52-week high of Rs 273.10 while its 52-week low is Rs 35 per share. The stock gave multi-bagger returns of 170 per cent in just 1 year whereas BSE Small-Cap Index is up by 57 per cent.

This stock has given a multi-bagger return of 2,200 per cent in just 3 years. Taking a big decision, the company had done a stock split in the ratio of 2:1 on April 13, 2023, and 2:1 bonus shares were issued on July 02, 2023.
These significant moves by the company have resulted in an increase in the number of outstanding shares and potentially impacted the company's share price and financial ratios.

Recently, has informed exchanges that its board of directors has approved fundraising through non-convertible debentures (NCDs). The company, which focuses on providing EV financing solutions in India, said that it plans to raise the funds to the tune of Rs 24.8 crore. Earlier in March, the NBFC approved the allotment of 9,30,000 (Nine Lakh Thirty Thousand) equity shares with a face value of Rs 1 each through a preferential allotment.

The warrants had an issue price of Rs 63.30 each and upon conversion, investors needed to pay the remaining balance amount i.e. Warrant Exercise Price aggregating to Rs 4,41,51,750. Following this conversion, the pre-issue equity holding of the promoter group (Hindon Mercantile Limited) increased to 54.43 per cent (8,82,41,152 shares) from 54.17 per cent (8,73,11,152 shares).

Mufin Green Finance provides financing solutions for the EV ecosystem of the country by providing loans for income generation through electric vehicles, electric charging infrastructure, and swappable batteries. It has disbursed more than Rs 350 crore so far towards electric vehicles.