4,880 per cent returns: India's first listed NBFC, 100 per cent dedicated towards green financing announces stellar quarterly results & half-yearly results!

The stock gave multibagger returns of 227 per cent in just 1 year; 1,970 per cent returns in 2 years and a whopping 4,880 per cent returns in 3 years.

Mufin Green Finance Ltd was incorporated in May 2016, a Non-Banking Financial Company Non-Deposit Taking (NBFC-ND) registered with Reserve Bank of India and is carrying on the business of Investment into shares, stocks, securities, and providing loans of all kinds. It is India's first listed NBFC, 100 per cent dedicated towards green financing and spearheading in bolstering the EV penetration in India.

The company announced stellar Quarterly Results (Q2FY24) and half-yearly results (H1FY23) for the fiscal year 2024. Here are the details:

Quarterly Results: The net sales increased by 221 per cent to Rs 21.13 crore, operating profit increased by 296 per cent to Rs 14.27 crore and net profit increased by 98 per cent to Rs 4.01 crore in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 254 per cent to Rs 38.65 crore, operating profit increased by 351 per cent to Rs 25.29 crore and net profit increased by 135 per cent to Rs 7.46 crore in H1FY24 compared to H1FY23.

Mufin Green Finance is a high-growth company with a strong track record of profitability. It recently received approval for listing on the National Stock Exchange of India, and it is also issued preferential shares in the form of warrants and a bonus issue to its shareholders.

The company has a market capitalization of over Rs 1,800 crore and has delivered good profit growth of 141 per cent CAGR over the last 5 years. These are all positive signs for investors, and the company is well-positioned to continue its growth trajectory in the future.

Today, shares of Mufin Green Finance plunged 0.04 per cent upper circuit to Rs 124.5 per share with an intraday high of Rs 127.25 and an intraday low of Rs 122.2. The stock gave multibagger returns of 227 per cent in just 1 year; 1,970 per cent returns in 2 years and a whopping 4,880 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.

Industry Overview: The Indian electric vehicle (EV) industry is expected to grow rapidly in the coming years, with a compound annual growth rate (CAGR) of 36 per cent. By 2030, the market size is projected to reach USD 206 billion, with electric vehicles accounting for 70 per cent of total vehicle sales and 28 million units sold. The EV financing and commercial EV markets are also expected to grow significantly, reaching USD 50 billion and USD 20 billion by 2030, respectively. There is a strong investor interest in the Indian EV startup ecosystem, with 167 investors having invested USD 601 million between 2014 and 2019. Overall, the Indian EV industry is poised for explosive growth in the coming years, driven by a number of factors, including government support, investor interest, and increasing consumer demand.

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