FII-Backed EV Stock Jumps Over 5% After Impressive Q2 Performance; Do You Own?

On Monday, shares of EV stock Mufin Green Finance Ltd gained around 119.01 per cent to Rs 112.09 per share from its previous closing of Rs 173.84. The stock's 52-week high is Rs 274.40 and its 52-week low is Rs 90.65. The company has a market capital of Rs 1,920 crore.

Having started at Rs 6.43 a share around three years ago, Mufin Green Finance has seen a climb of 1,770% over time such that its stock price has continued to increase over time.

In support of low-income groups, Mufin Green Finance specializes in the provision of EV loans as it elevates the environmental and social aspects of business in its operation. Such focus on environmental and financial inclusion is consistent with the strong financial performance of the firm. The company also has a market value of over Rs 2,170 crore and has viewed a quickened profit level of 180% over three years which shows its strength as well as growth prospects.

Last month, Mufin Green Finance went one stage further and issued and allotted privately placed non-redeemable debentures to the extent of Rs 22 crore. The single investor of these 22,000 non-redeemable debentures each of face value Rs 1,00,000 is Incofin CVSO which pays 14.06% interest compounded semiannually. These secured convertible debentures of the company are secured by hypothecation of the company's book debts, have a maturity date of June 28, 2027 but are not trading on any stock market. This placement explains the strategy Mufin Green Finance stands to strengthen its financial structure for more growth.

The company achieved remarkable results financially in Q1FY25. In its standalone quarterly report, it is reported that net sales increased by 111.3% to Rs 37.02 crore whereas net profit increased by 34% to Rs 4.62 crore when compared to Q1FY24. On a consolidated basis, Q1FY25 results presented net sales worth Rs 36.98 crore and net profit amounting to Rs 4.39 crore. For the financial year FY24, Mufin Green Finance has reported net sales reaching Rs 97.60 crore, with growth amounting to 184%, and profit of Rs 16.06 crore, with a 98% increase when compared to the previous financial year. Additionally, FII has also demonstrated confidence in the company by purchasing 6,27,068 shares in Q1FY25 and increasing shareholding to 0.49% from 0.11% in March 2024.

Investors demonstrate steady interest amid growth and impactful corporate endeavours, Mufin Green Finance Ltd. positions itself as a force to watch in the financial services industry led by sustainability and innovation in India's EV finance market.