Small Cap EV Stock Declares Q3 Results; Shares Rally 755% In 3 Years

Mufin Green Finance Limited shares were in focus today after the company declared amazing financial results for the quarter that ended in December 2024. In comparison to the October-December 2023 quarter, when the company's consolidated net profit was Rs 4.55 crore, it increased by 28% to Rs 5.85 crore in the October-December 2024 quarter. In Q3FY25, Mufin Green Finance's revenue from operations increased 79% year over year (YoY) to Rs 48.57 crore. In the same quarter of the previous fiscal year, the amount was Rs 27.10 crore.

The board of directors for the company recently sanctioned the 1,20,000 convertible warrants into equity shares at a predefined concessional pricing of 1 each. This conversion happened after Samarth Garg & Sons HUF deposited Rs 49.50 lakh into the company's account to acquire the warrants at Rs 41.25 matching 75% of the cost to the issue price.

Further to strengthen its operations, Mufin Green Finance has been making prudent decisions. Recently, the company received an $18 million credit facility from the US International Development Finance Corporation, which is a favorable structure aimed at strengthening its lending business. The loan terms required pledging of assets over 110% of the loan balance.

In addition to obtaining contracts, Mufin Green Finance has provided Wardwizard Innovations & Mobility with contracts to provide financing for EVs, especially for fleet vehicles. Also, Mufin Green Finance's subsidiary, Mufin Green Infra, has collaborated with Exicom Tele-Systems to create a viable EV charging infrastructure. This partnership includes Exicom's leading charging equipment with Mufin Green Infra's civil work projects, that will help increase the use of EVs in India.

This company is growing faster than others in the same market. For instance, in Q2FY25, compared to the previous year in Q2FY24, Mufin Green Finance achieved net sales of Rs 46.21 crore, which is a 120% increase. Net profit during this period was an estimated Rs 5.67 crore, which is an increase of 41%. Long-term results were also excellent, where the company faced a net sales growth of 116% and reached Rs 83.19 crore, alongside a 35% growth in net profits reaching Rs 10.06 crore in H1FY25 compared to H1FY24. When compared to FY23, the company achieved remarkable net sales growth, which climbed to 184% vying Rs 97.60 crore in FY24, as well as an increase in net profits of 98% reaching Rs 16.06.

Mufin Green Finance has subscribed its assistance to social and environmental issues through the provision of financial products like electric vehicle loans to socially and economically weaker sections of society. The company today has a market capitalisation of Rs 1,490 crore and has posted an astonishing 180% compounded annual growth rate in profits over the last three years.