Mufin Green Finance Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Financing and Investing: 88.3% • EV Charging Infrastructure and Solar Power Plant: 11.7%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Comfortable capital adequacy - CAR of 30.9%
- Asset quality is healthy - gross NPA of just 0.0%
- Solid return on assets for a lender - ROA of 2.1%
- Latest quarter profit grew 240.9% YoY, showing strong momentum
- Company has delivered good sales growth of 148.7% CAGR over last 5 years
CONS
- Net NPA is elevated at 2.1% - provisioning cushion is thin
- Promoter holding has decreased over last 2 years: -7.2pp
- Company has a low return on equity of 7.8% over last 3 years
- Company has a low return on capital employed of 10.0%
- Free cash flow has been persistently negative
- Operating margins have contracted to 74.2% from 84.4%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | 1060.50 | 32.52 | 660262.45 | 0.57 | 6080.60 | 27.60 | 23165.45 | 20.37 | 10.87 | 70.70 |
| SHRIRAMFIN | 1041.00 | 21.64 | 244945.59 | 1.04 | 3452.77 | 59.90 | 13400.43 | 17.46 | 11.49 | 74.63 |
| TATACAP | 375.00 | 29.46 | 159182.59 | 0.15 | 16281.80 | 1464.16 | 88219.30 | 1051.00 | 8.66 | 75.72 |
| JIOFIN | 239.85 | 76.64 | 158376.35 | 0.25 | 8302.50 | 2457.29 | 20044.70 | 3172.82 | 2.11 | 69.71 |
| CHOLAFIN | 1839.00 | 27.31 | 157062.74 | 0.11 | 1656.22 | 45.56 | 8856.29 | 21.89 | 9.70 | 70.07 |
| BAJAJHLDNG | 11148.75 | 14.01 | 124078.35 | 1.75 | 2708.08 | -92.27 | 394.33 | 23.34 | 14.81 | 684.72 |
| MUTHOOTFIN | 2920.00 | 10.31 | 117228.79 | 1.03 | 2824.84 | 43.08 | 8671.60 | 36.25 | 15.87 | 83.76 |
| ABCAPITAL | 404.80 | 27.00 | 110814.49 | 0.00 | 1223.85 | 43.85 | 12179.54 | 137.84 | 8.82 | 41.91 |
| LTF | 314.00 | 24.73 | 78699.47 | 0.88 | 915.99 | 30.70 | 5212.92 | 22.38 | 8.54 | 62.13 |
| SBICARD | 657.90 | 27.52 | 62608.60 | 0.38 | 664.44 | 19.51 | 5040.55 | 7.60 | 11.75 | 29.83 |
| HDBFS | 682.25 | 26.05 | 56678.94 | 0.59 | 785.20 | 38.31 | 4937.90 | 18.71 | 9.09 | 57.98 |
| MUFIN | 137.80 | 72.13 | 2730.67 | 0.00 | 14.01 | 345.50 | 76.86 | 60.13 | 12.44 | 78.61 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 | 21 | 27 | 32 | 37 | 40 | 43 | 40 | 48 | 51 | 55 | 64 | 77 | |
| 7 | 16 | 7 | 9 | 10 | 9 | 11 | 12 | 17 | 17 | 15 | 12 | 58 | |
| Operating Profit | 11 | 14 | 20 | 22 | 27 | 31 | 32 | 28 | 31 | 35 | 41 | 53 | 60 |
| OPM % | 62.73% | 67.52% | 72.65% | 68.06% | 73.01% | 77.44% | 74.96% | 70.24% | 65.66% | 68.69% | 74.82% | 82.82% | 78.61% |
| Other Income | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 6 | 9 | 13 | 17 | 20 | 22 | 24 | 23 | 25 | 26 | 31 | 38 | 41 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| 5 | 5 | 6 | 5 | 6 | 8 | 8 | 5 | 6 | 8 | 9 | 15 | 19 | |
| Tax % | 25.65% | 25.34% | 25.41% | 20.86% | 25.96% | 29.16% | 26.19% | 19.29% | 25.41% | 26.55% | 25.43% | 25.22% | 25.53% |
| Net Profit | 3 | 4 | 5 | 4 | 5 | 6 | 6 | 4 | 4 | 6 | 7 | 11 | 14 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 3 | 2 | 23 | 15 | 34 | 98 | 161 | 246 | |
| 0 | 0 | 8 | 0 | 2 | 16 | 29 | 42 | 101 | |
| Operating Profit | 0 | 3 | -7 | 22 | 13 | 18 | 68 | 119 | 145 |
| OPM % | 87.00% | 94.00% | -385.34% | 98.20% | 84.26% | 53.62% | 69.89% | 74.16% | 58.86% |
| 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 6 | 45 | 90 | 136 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 3 | 3 |
| Profit before Tax | 0 | 3 | -7 | 23 | 13 | 11 | 21 | 27 | 51 |
| Tax % | 25.67% | 13.81% | 8.65% | 11.87% | 14.17% | 24.78% | 24.35% | 25.76% | 25.59% |
| Net Profit | 0 | 3 | -6 | 20 | 11 | 8 | 16 | 20 | 38 |
| EPS | 0.00 | 0.00 | -2.82 | 9.20 | 2.52 | 1.73 | 0.99 | 1.24 | — |
| Dividend Payout % | 0.00% | — | 0.00% | 0.00% | 3.97% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 149%
- 3 Years:
- 119%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 23%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 60%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- 8%
- Last Year:
- 9%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 0 | 4 | 4 | 4 | 5 | 16 | 16 |
| 0 | 73 | 67 | 86 | 97 | 147 | 207 | 235 | |
| 0 | 0 | 10 | 0 | 0 | 226 | 667 | 727 | |
| 0 | 5 | 0 | 2 | 1 | 17 | 36 | 43 | |
| Total Liabilities | 2 | 78 | 82 | 93 | 103 | 395 | 926 | 1,021 |
| 0 | 0 | 0 | 0 | 2 | 3 | 9 | 6 | |
| 1 | 66 | 59 | 73 | 10 | 3 | 5 | 5 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash & Bank | 0 | 4 | 1 | 0 | 14 | 118 | 241 | 135 |
| 1 | 9 | 21 | 19 | 77 | 270 | 670 | 875 | |
| Total Assets | 2 | 78 | 82 | 93 | 103 | 395 | 926 | 1,021 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -2 | 4 | -12 | 5 | -59 | -191 | -399 | -204 | |
| Cash from Investing | 0 | 0 | -1 | 6 | 67 | -85 | -57 | 90 |
| Cash from Financing | 0 | 0 | 10 | -10 | -0 | 269 | 486 | 56 |
| -2 | 3 | -3 | -0 | 9 | 8 | 70 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||
| EPS (₹) | 0.10 | 0.00 | -2.82 | 9.20 | 5.04 | 1.61 | 0.99 | 1.24 |
| Book Value (₹) | 2.11 | 0.00 | 32.78 | 41.98 | 47.02 | 30.24 | 13.76 | 15.35 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.20 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.02 | 0.00 | -0.47 | 1.53 | 0.84 | 0.33 | 1.13 | 1.44 |
| PROFITABILITY | ||||||||
| Operating Margin % | 87.03% | 94.00% | -384.96% | 100.43% | 84.40% | 54.02% | 69.89% | 74.16% |
| Net Margin % | 64.34% | 81.01% | -361.05% | 87.04% | 71.32% | 23.54% | 16.43% | 12.60% |
| ROE % | 4.75% | 7.31% | -8.51% | 24.60% | 11.32% | 6.40% | 8.56% | 8.56% |
| ROCE % | 6.43% | 8.02% | -8.24% | 26.61% | 13.33% | 6.98% | 10.47% | 12.61% |
| 4.72% | 6.83% | -7.66% | 22.81% | 11.13% | 3.26% | 2.43% | 2.08% | |
| EFFICIENCY | ||||||||
| Debtor Days | 0 | 9 | 68 | 6 | 0 | 4 | 0 | 0 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 9 | 68 | 6 | 0 | 4 | 0 | 0 | |
| FINANCIAL HEALTH | ||||||||
| Debt to Equity (x) | 0.00x | 0.00x | 0.15x | 0.00x | 0.00x | 1.48x | 2.87x | 2.80x |
| Interest Coverage (x) | 187.10x | 0.00x | -40.12x | 63.38x | 83.60x | 2.80x | 1.47x | 1.30x |
| 51.23x | 343.02x | 2.04x | 60.93x | 74.37x | 2.12x | 0.76x | 0.40x | |
| GROWTH | ||||||||
| Revenue Growth % | 0.00% | 2064.48% | -49.88% | 1250.56% | -33.18% | 125.99% | 183.65% | 64.59% |
| Operating Profit Growth % | 0.00% | 2237.71% | -305.25% | 452.33% | -43.85% | 44.64% | 270.43% | 74.59% |
| Net Profit Growth % | 0.00% | 2625.14% | -323.36% | 425.58% | -45.25% | -25.41% | 97.91% | 26.28% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -38.55% | 25.21% | |
| VALUATION | ||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 134.16x | 56.72x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 9.66x | 4.58x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 37.02x | 14.27x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - Mufin Green Finance Limited has informed the Exchange regarding intimation of business responsibility and sustainability report for FY2026
2026-09-05 - Mufin Green Finance Limited has informed the Exchange about Shareholders meeting
2026-09-05 - Mufin Green Finance Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - Mufin Green Finance Limited has informed the Exchange regarding Appointment of Mr Sumit Garg as Head of Strategy designated as Senior Management Personnel and Mr. Prakash L Pogaku as Chief Compliance Officer of the company w.e.f. September 02, 2026.
2026-09-02 - Mufin Green Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on September 02, 2026.
2026-08-31 - The Exchange has sought clarification from Mufin Green Finance Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-08-26 - Mufin Green Finance Limited has informed the Exchange about Transcript of conference call held on August 20, 2026
2026-08-13 - Mufin Green Finance Limited has informed the Exchange about Schedule of Analyst/ Investor Meet
2026-08-13 - Mufin Green Finance Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results (Standalone & Consolidated) for quarter ended June 30, 2026.
News
Recent coverage and analyst commentary for MUFIN
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