5,000 per cent returns: India's first listed NBFC, 100 per cent dedicated towards green financing gets approval of listing of equity shares on NSE!

The stock gave multibagger returns of 242 per cent in just 1 year, 2,000 per cent returns in 2 years and a whopping 5,000 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.

On November 02, 2023, the company announced that company has received approval for listing of its equity shares on National Stock Exchange (NSE) of India Limited with effect from November 06, 2023.

Earlier, the Board of Directors of the company approved to issue of up to 2,55,00,000 warrants each convertible into, or exchangeable for, one equity share within the period of 18 in accordance with the applicable law (Warrants) at a price of Rs 55 each aggregating up to Rs 1,40,25,00,000 to Mr Kapil Garg, Promoter and Managing Director of the Company and Mrs Shelly Garg, Mr Saurabh Garg, Mrs Pooja Garg, Bima Pay Technology Private Limited (Promoter Group) and to certain other non-promoter group persons by way of the preferential issue.

On Friday, shares of Mufin Green Finance hit a 5 per cent upper circuit to Rs 129.30 per share from its previous closing of Rs 123.15. The stock also made a new 52-week high of Rs 129.30 per share with a spurt in volume by more than 2.41 times on BSE.

Furthermore, the Board of Directors of the company approved bonus shares in the ratio of 2:1 for the equity shareholders of the company (i.e., 2 equity shares of Rs 1 each fully paid up for every 1 equity share of Rs 1 each fully paid up held as on the record date decided for this purpose). The shares ex-traded bonus issue on Friday, July 07, 2023.

According to the financials, Mufin Green Finance has a market cap of over Rs 1,800 crore. The company has delivered good profit growth of 141 per cent CAGR over the last 5 years. Additionally, the company have reported stellar Quarterly Results and annual results.

In its quarterly results, the net sales increased by 304.62 per cent to Rs 17.52 crore and net profit increased by 200 per cent to Rs 3.45 crore in Q1FY24 compared to Q1FY23. In its annual results, the net sales increased by 133 per cent to Rs 35 crore and net profit decreased by 27.27 per cent to Rs 8 crore in FY23 compared to FY22.

The stock gave multibagger returns of 242 per cent in just 1 year, 2,000 per cent returns in 2 years and a whopping 5,000 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.

Industry Overview: The Indian EV industry is expected to grow at a CAGR of 36% and reach a market size of USD 206 billion by 2030. The EV financing market is expected to reach USD 50 billion by 2030 and the EV commercial electric vehicles market is expected to reach USD 20 billion by 2030. Electric vehicles are projected to have a market share of 70% and 28 million units by 2030. There are currently 167 investors in the Indian EV startup ecosystem and EV startups have raised USD 601 million between 2014 and 2019. EV sales are projected to reach 30 per cent of total vehicle sales by 2030. In short, the Indian EV industry is poised for rapid growth in the coming years.

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