700 per cent multibagger returns: Under Rs 100 stock in green after board allots 1,20,000 shares on conversion of warrants to Samarth Garg & Sons HUF
From Rs 11.72 per share to Rs 95 per share, the stock gave multibagger returns of over 700 per cent in just 3 years.
On Tuesday, shares of Mufin Green Finance Ltd jumped 6.62 per cent to an intraday high of Rs 95 per share from its previous closing of Rs 89.10 per share. The stock's 52-week high stands at Rs 273.10 per share and its 52-week low is Rs 86 per share.
Mufin Green Finance has considered and approved the conversion of 1,20,000 convertible warrants into 1,20,000 equity shares of face value of Re 1 each, on a preferential basis. This conversion was made upon receipt of Rs. 49,50,000 from Samarth Garg & Sons HUF at a rate of Rs. 41.25 per warrant, which is 75 per cent of the issue price. The conversion was for 1,20,000 warrants, resulting in the allotment of 1,20,000 equity shares.
Earlier, Mufin Green Finance secured a USD 18 million loan from the U.S. International Development Finance Corporation to bolster its lending business, requiring asset pledges exceeding 110 per cent of the loan balance. Separately, Mufin Green has partnered with Wardwizard Innovations & Mobility, offering customized financing solutions for their electric vehicles, including fleet operations. Furthermore, Mufin Green Infra has joined forces with Exicom Tele-Systems to create a comprehensive EV charging ecosystem, combining Exicom's charging hardware with Mufin Green Infra's turnkey project solutions, aiming to accelerate EV adoption in India.
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About the Company
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 1,490 crore and a remarkable 180 per cent three-year compounded annual growth rate in profits.
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 11.72 per share to Rs 95 per share, the stock gave multibagger returns of over 700 per cent in just 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.