Mufin Green Finance Ltd

MUFIN

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Market Cap

₹ 1,945 Cr

P/E

103.94

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Investment Checklist

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Mufin Green Finance Limited is an NBFC engaged in investment and credit services, focusing on finance for green initiatives.

The company underwent a major transformation, including a name change and management takeover, indicating strategic repositioning.

Originally part of APM Industries, the company demerged in 2018, leading to independent operations and expanded capital base.

Equity shares allocation and acquisition by Hindon Mercantile Limited and Shri Kapil Garg reflect strengthening of strategic control.

Legal restructuring, including demerger and amalgamation, suggests intentions for streamlined focus and operational clarity.

Sector

Finance

Industry

NBFC-Others

Market Cap

1,945 Cr

Volatility

High Risk

P/E Ratio

103.9

Industry P/E

34.2

PEG Ratio

4.5

P/B Ratio

6.1

52W High

126.15

52W Low

63.66

Sales CAGR

85.74%

119.32%

148.73%

10Y

—

Profit CAGR

19.80%

23.07%

—

10Y

—

ROE

TTM

5.88%

6.66%

8.74%

10Y

—

ROCE

TTM

10.39%

9.64%

10.39%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SGFIN	391.10	2,191 Cr	21.82	2.04	0.00	9.37	7.21	3.36
SUMMITSEC	1981.60	2,160 Cr	21.31	0.19	0.00	0.91	1.20	0.79
PFS	32.99	2,119 Cr	6.05	0.71	0.00	11.75	13.19	6.54
MUFIN	112.05	1,945 Cr	103.94	6.12	0.00	5.88	10.39	1.45
ARMANFIN	1519.05	1,597 Cr	—	1.83	0.00	-0.12	10.77	-0.05
MASTERTR	124.35	1,499 Cr	12.68	1.99	0.00	15.68	24.32	5.73
FINKURVE	105.00	1,445 Cr	73.45	9.14	0.00	12.49	15.44	12.24

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	21	27	32	37	46	49	50	49	53
Expenses	6.87	7.40	9.32	10	15	17	22	18	19
Interest	8.56	13	17	20	22	24	23	26	26
Financing Profit	5.70	6.73	6.04	6.37	8.70	8.23	4.92	4.62	8.16
Financing Margin %	26.98	24.87	18.75	17.23	18.83	16.94	9.92	9.44	15.26
Other Income	0.00	0.04	0.05	0.37	0.14	0.39	0.13	0.12	0.17
Depreciation	0.34	0.67	0.96	0.82	0.83	0.83	0.83	0.51	0.70
Profit Before Tax	5.37	6.10	5.13	5.92	8.01	7.78	4.22	4.22	7.62
Tax %	25.33	25.41	20.86	26.01	29.09	26.22	18.25	25.59	26.77
Net Profit	4.01	4.55	4.05	4.38	5.67	5.74	3.45	3.14	5.59
EPS in Rs	0.23	0.26	0.24	0.25	0.32	0.32	0.20	0.18	0.33
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025	TTM
Revenue	98	181	193
Expenses	30	64	72
Interest	44	89	95
Financing Profit	23	28	26
Financing Margin %	23.93	15.56	13.69
Other Income	0.64	1.02	0.78
Depreciation	2.29	3.31	3.00
Profit Before Tax	22	26	24
Tax %	23.77	25.79	25.71
Net Profit	16	19	18
EPS in Rs	—	1.09	1.03
Dividend Payout %	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Equity Capital	16	16
Reserves	228	253
Borrowings	640	714
Other Liabilities	41	50
Total Liabilities	926	1,033
Fixed Assets	8.82	6.37
CWIP	0.00	0.00
Investments	4.79	1.72
Other Assets	912	1,025
Total Assets	926	1,033

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Cash from Operating Activity	-359	-153
Cash from Investing Activity	-57	90
Cash from Financing Activity	486	67
Net Cash Flow	71	4.30

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2023	Jan 2024	Feb 2024	Mar 2024	May 2024	Jun 2024	Sep 2024	Oct 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	58.18%	57.14%	55.07%	54.77%	54.51%	54.51%	54.51%	54.35%	54.35%	54.31%	54.06%	54.20%
FIIs	0.00%	0.00%	0.01%	0.11%	0.33%	0.49%	0.33%	0.33%	0.86%	1.25%	0.88%	0.84%
DIIs	14.13%	13.88%	13.38%	13.16%	13.10%	13.10%	13.10%	13.06%	12.54%	12.53%	12.18%	11.90%
Public	27.69%	28.97%	31.54%	31.96%	32.05%	31.89%	32.05%	32.26%	32.25%	31.91%	32.89%	33.06%
Total Shareholders	18,850	18,915	20,431	22,133	24,624	25,009	24,017	24,018	25,503	25,971	26,490	27,237

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Nov 17, 2025	Hrti private limited	Bulk	Buy	113.04	11.75 Cr	10,39,467	0.60
Nov 17, 2025	Nivesh consultancy private li...	Bulk	Buy	104.55	13.61 Cr	13,02,000	0.75
Nov 17, 2025	Viney equity market llp	Bulk	Buy	104.25	10.43 Cr	10,00,000	0.57
Nov 17, 2025	Hrti private limited	Bulk	Sell	113.72	6.74 Cr	5,92,341	0.34
Nov 17, 2025	Nivesh consultancy private li...	Bulk	Sell	112.75	13.54 Cr	12,01,000	0.69
Nov 17, 2025	Incofin india progress fund	Bulk	Sell	104.60	62.76 Cr	60,00,000	3.46
Jun 25, 2025	Kapil garg	Insider - Promoter	Acquisition	55.00	6.05 Cr	11,00,000	0.67
Jun 25, 2025	Saurabh garg	Insider - Promoter Group	Acquisition	55.00	6.05 Cr	11,00,000	—
Jun 25, 2025	Kapil garg	Insider - Promoter	Acquisition	55.00	6.05 Cr	11,00,000	0.67
Jun 25, 2025	Saurabh garg	Insider - Promoter Group	Acquisition	55.00	6.05 Cr	11,00,000	—

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Board Meeting Outcome

15 hours ago

Committee Meeting Outcome: Debenture Issuance

The Management Committee approved the issuance of listed, secured, non-convertible debentures for up to INR 100 Crore on a private placement basis.

Board Meeting Outcome

5 days ago

Mufin Green Finance Ltd Board Meeting Announcement

The Board of Directors of Mufin Green Finance Ltd will meet on December 16, 2025, to consider a fund raising proposal via issuance of non-convertible debentures.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

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Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SGFIN	391.10	2,191 Cr	21.82	2.04	0.00	9.37	7.21	3.36
SUMMITSEC	1981.60	2,160 Cr	21.31	0.19	0.00	0.91	1.20	0.79
PFS	32.99	2,119 Cr	6.05	0.71	0.00	11.75	13.19	6.54
MUFIN	112.05	1,945 Cr	103.94	6.12	0.00	5.88	10.39	1.45
ARMANFIN	1519.05	1,597 Cr	—	1.83	0.00	-0.12	10.77	-0.05
MASTERTR	124.35	1,499 Cr	12.68	1.99	0.00	15.68	24.32	5.73
FINKURVE	105.00	1,445 Cr	73.45	9.14	0.00	12.49	15.44	12.24

Overview

Detailed Summary

Mufin Green Finance Limited is an NBFC engaged in investment and credit services, focusing on finance for green initiatives.

The company underwent a major transformation, including a name change and management takeover, indicating strategic repositioning.

Originally part of APM Industries, the company demerged in 2018, leading to independent operations and expanded capital base.

Equity shares allocation and acquisition by Hindon Mercantile Limited and Shri Kapil Garg reflect strengthening of strategic control.

Legal restructuring, including demerger and amalgamation, suggests intentions for streamlined focus and operational clarity.

Sector

Finance

Industry

NBFC-Others

Market Cap

1,945 Cr

Volatility

High Risk

P/E Ratio

103.9

Industry P/E

34.2

PEG Ratio

4.5

P/B Ratio

6.1

52W High

126.15

52W Low

63.66

Sales CAGR

85.74%

119.32%

148.73%

10Y

—

Profit CAGR

19.80%

23.07%

—

10Y

—

ROE

TTM

5.88%

6.66%

8.74%

10Y

—

ROCE

TTM

10.39%

9.64%

10.39%

10Y

—