2,400 per cent returns: Multibagger EV loan provider stock hit upper circuit as it received a significant upgrade in its credit ratings, reflecting improved financial health and operational stability

From Rs 5.26 per share to Rs 131.45 per share, the stock gave multibagger returns of 2,400 per cent in just 3 years.

Today, shares of Mufin Green Finance Ltd were locked in a 10 per cent upper circuit to Rs 131.45 per share from its previous closing of Rs 119.50. The stock’s 52-week high of Rs 273.10 while its 52-week low is Rs 35 per share. The stock gave multibagger returns of 212 per cent in just 1 year whereas the BSE Small-Cap Index is up by 56 per cent. The shares of the company saw a spurt in volume by more than 2 times on BSE.

Mufin Green Finance Limited has received a significant upgrade in its credit ratings, reflecting improved financial health and operational stability. Acuite Ratings & Research Limited upgraded the ratings for Mufin Green's bank facilities, non-convertible debentures (NCDs), and bonds from ACUITE BBB | Stable to ACUITE BBB+ | Stable. This enhancement in ratings spans various financial instruments, including Rs 270 crore in bank loan facilities, Rs 60 crore in existing NCDs, Rs 90 crore in proposed NCDs and Rs 100 crore in proposed bonds. The upgraded ratings indicate a positive shift in the company’s credit profile, boosting investor confidence and potentially lowering the cost of future borrowings.

The upgraded ratings come as a result of Mufin Green Finance Limited's strong performance and strategic initiatives aimed at fortifying its financial structure. The rating agency highlighted the company's consistent efforts to improve its liquidity position, manage its debt effectively, and enhance its revenue streams. These efforts have been instrumental in maintaining a stable outlook for the company despite the challenges in the broader economic environment. The upgraded ratings serve as a testament to the company's resilience and its ability to navigate financial uncertainties with prudence.

For stakeholders and potential investors, this rating upgrade is a clear signal of Mufin Green Finance Limited's robust financial health and growth prospects. The stable outlook associated with the BBB+ rating ensures that the company is well-positioned to meet its financial obligations and undertake new ventures with confidence. The improved credit ratings will likely aid Mufin Green in securing favourable terms for future financial deals and expanding its footprint in the green finance sector. Overall, the upgraded ratings are a promising development, underscoring the company's commitment to sustainable growth and financial stability.

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About Mufin Green Finance Ltd

Mufin Green Finance is a company that provides financial solutions to underserved communities in India. They focus on climate financing solutions, such as loans for electric vehicles. Their mission is to create financial opportunities and a more sustainable planet. Mufin Green Finance, an investment firm offering advisory, asset management, and financial planning services, boasts a market cap of over Rs 2,000 crore and an impressive 167 per cent CAGR profit growth over 3 years.

According to Quarterly Results, the net sales increased by 139 per cent to Rs 32.21 crore and net profit increased by 52.3 per cent to Rs 4.05 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 184 per cent to Rs 97.60 crore and net profit increased by 98 per cent to Rs 16.06 crore in FY24 compared to FY23. In March 2024, the promoter group of the company were allocated 9,30,000 equity shares, representing a 0.57 per cent stake in the company on the conversion of warrants.

From Rs 5.26 per share to Rs 131.45 per share, the stock gave multibagger returns of 2,400 per cent in just 3 years. In the past three years, the company has implemented three corporate actions: a final dividend of Rs 0.2 per share on September 2, 2022, a 2:1 stock split on April 13, 2023, and a 2:1 bonus share issuance on July 02, 2023. These actions have increased the number of outstanding shares and potentially impacted the company's stock price and financial ratios. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.