5,427 per cent multibagger returns: Under Rs 130 stock in green as Board approve fundraising of Rs 15,00,00,000 via debentures
From Rs 2.22 per share to Rs 122.70 per share, the stock gave multibagger returns of 5,427 per cent in just 5 years.
On Friday, shares of Mufin Green Finance Ltd gained 1.61 per cent to Rs 122.70 per share from its previous closing of Rs 120.75 per share. The stock's 52-week high stands at Rs 273.10 per share and its 52-week low is Rs 90.40 per share.
Mufin Green Finance Limited announces that its Board of Directors' Committee, at its meeting held Today, November 29, 2024, has approved the issuance of up to Rs 15,00,00,000 worth of rated, unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures through a private placement. This decision is subject to the approval of relevant regulatory authorities and aligns with applicable laws.
Mufin Green Finance tackles social and environmental issues in India by providing financial solutions, like electric vehicle loans, to underserved communities. This focus on financial inclusion and sustainability goes hand-in-hand with their strong financial performance, boasting a market cap of Rs 1,957 crore and a remarkable 180 per cent three-year compounded annual growth rate in profits.
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According to Quarterly Results, the net sales increased by 120 per cent to Rs 46.21 crore and net profit increased by 41 per cent to Rs 5.67 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 116 per cent to Rs 83.19 crore and net profit increased by 35 per cent to Rs 10.06 crore in H1FY25 compared to H1FY24. Looking at 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.
From Rs 2.22 per share to Rs 122.70 per share, the stock gave multibagger returns of 5,427 per cent in just 5 years. Over the past three years, the company has undergone three corporate actions: a Rs 0.2 per share final dividend on September 2, 2022, a 2:1 stock split on April 13, 2023, and a 2:1 bonus share issuance on July 2, 2023. These actions have increased the share count. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.