1,500 per cent returns & FIIs increase stake: Multibagger EV loan provider stock to keep under the radar as Board likely to raise funds via private placement!

The stock gave multibagger returns of 167 per cent in just 1 year whereas the BSE Small-Cap Index is up by 65 per cent.

Today, shares of Mufin Green Finance Ltd surged 1.68 per cent to Rs 114.95 per share from its previous closing of Rs 113.05. 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 167 per cent in just 1 year whereas the BSE Small-Cap Index is up by 65 per cent.

Mufin Green Finance Limited hereby informs that a meeting of its Committee of Directors for Issue of Debentures is scheduled for July 30, 2024, to consider and approve raising funds through a private placement of Unlisted Secured Non-Convertible Debentures. This proposed fundraising is within the limits authorized by shareholders at the Annual General Meeting held on September 28, 2022, as per Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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 7.06 per share to Rs 114.95 per share, the stock gave multibagger returns of over 1,500 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. 

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