1,400 per cent returns: Heavy buying in this multibagger EV loan provider stock; up over 6 per cent & upper price band change from 5 per cent to 10 per cent

From Rs 8.22 per share to Rs 125.55 per share, the stock gave multibagger returns of over 1,400 per cent in just 3 years.

Today, shares of Mufin Green Finance Ltd zoomed 6.44 per cent to Rs 125.55 per share from its previous closing of Rs 117.95. 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 159.5 per cent in just 1 year whereas the BSE Small-Cap Index is up by 63.1 per cent.

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 1,900 crore and a remarkable 190 per cent three-year compounded annual growth rate in profits.

In a private placement, Mufin Green Finance issued and allotted non-redeemable debentures with a face value of Rs 1,00,000 each for a total issue size of Rs 22,00,00,000. The company issued 2,200 debentures to a single investor, Incofin CVSO. The debentures offer a fixed interest rate of 14.06 per cent per annum, paid semi-annually, and mature on June 28, 2027. The debentures are secured by a hypothecation of the company's book debts and will not be listed on any stock exchange.

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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 March 2024, the promoter group of the company were allocated 9,30,000 equity shares, representing a 0.57 per cent stake in the company on the conversion of warrants.

From Rs 8.22 per share to Rs 125.55 per share, the stock gave multibagger returns of over 1,400 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.