1,598 per cent returns & FIIs increase stake: Multibagger EV loan provider to raise Rs 30 crore via private placement basis; details inside!

The stock gave multibagger returns of 150 per cent in just 1 year whereas the BSE Small-Cap Index is up by 59 per cent.

Today, shares of Mufin Green Finance Ltd surged 1.51 per cent to Rs 114 per share from its previous closing of Rs 112.30. 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 150 per cent in just 1 year whereas the BSE Small-Cap Index is up by 59 per cent.

The Board of Directors of the company at its meeting held today i.e., Tuesday, July 30, 2024, has inter-alia considered and approved the following matters: Raising of funds through the issue of rated, unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees through private placement basis for amount upto Rs 30 crore in accordance with the relevant provisions of applicable law and subject to approval of the applicable regulatory authorities.

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 exceeding Rs 1,800 crore and a remarkable 190 per cent three-year compounded annual growth rate in profits.

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 June 2024, FIIs increased their stake to 0.49 per cent compared to 0.11 per cent in March 2024.

From Rs 6.71 per share to Rs 114 per share, the stock gave multibagger returns of 1,598 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. 

Also Read: Double Dhamaka! Board announces stock split from Rs 5 to Rs 2 and 25 per cent/share dividend; Beverages company’s stock trades at high ROE & high ROCE; Results out!