2,500 per cent returns: Multibagger EV loan provider stock at Rs 133.80 hit 10 per cent upper circuit with heavy volume on BSE on June 20, 2024

From Rs 4.96 per share to Rs 133.80 per share, the stock gave multibagger returns of over 2,500 per cent in just 3 years.

Today, shares of Mufin Green Finance Ltd hit a 10 per cent upper circuit to Rs 133.80 per share from its previous closing of Rs 121.65. 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 over 200 per cent in just 1 year whereas the BSE Small-Cap Index is up by 57 per cent. The shares of the company saw a spurt in volume by more than 3.6 times on BSE and the rally in the share price could be driven purely by the market forces. 

Mufin Green Finance is a company that provides financial solutions to underserved communities in India. They focus on climate financing solutions, such as loans for electric vehicles. Their mission is to create financial opportunities and a more sustainable planet. Mufin Green Finance, an investment firm offering advisory, asset management, and financial planning services, boasts a market cap of Rs 1,999 crore and an impressive 178 per cent CAGR profit growth over 3 years.

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.

Earlier, Mufin Green Finance Limited's creditworthiness received a significant boost as Acuite Ratings & Research upgraded its ratings across various debt instruments, reflecting the company's improved financial health and operational stability. This upgrade, spanning bank facilities, non-convertible debentures, and proposed bonds, signifies a positive shift for Mufin Green. 

Also Read: Heavy buying is witnessed in this multibagger penny stock under Rs 60 and promoters & FIIs increase their stake: Surging over 6 per cent today; watch out!

Acuite highlighted Mufin Green's focus on liquidity, debt management and revenue growth, which have ensured stability even amidst broader economic challenges. This upgrade signifies Mufin Green's resilience and ability to navigate financial uncertainties. For stakeholders, this is a clear signal of the company's robust financial health and promising future. The stable outlook associated with the new BBB+ rating indicates Mufin Green's strong position to meet its obligations and pursue new ventures with confidence. This improved credit rating paves the way for Mufin Green to secure favourable terms for future deals and expand its footprint in the green finance sector, solidifying their commitment to sustainable growth and financial stability.

From Rs 4.96 per share to Rs 133.80 per share, the stock gave multibagger returns of over 2,500 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.