Mufin Green Finance Limited (MUFIN)
🎯 Key Takeaways
- Mufin Green Finance Limited is in a growth phase driven by strategic capital deployment through non-convertible debentures and expanding receivables-based lending. The company demonstrates improving profitability with healthy margins and low credit risk, supported by disciplined financial management and targeted fundraising.
- Revenue grew 5.1% QoQ to ₹49 in Q3FY25.
- ⚠️ Concentration in receivables-based lending exposes the company to credit and collection risks if counterparties default.
📖 The Story
Mufin Green Finance Limited is in a growth phase driven by strategic capital deployment through non-convertible debentures and expanding receivables-based lending. The company demonstrates improving profitability with healthy margins and low credit risk, supported by disciplined financial management and targeted fundraising. It is transitioning from early-stage scale to a more mature, asset-backed financial services model with increasing institutional confidence.
📰 What's Happening
In Q4FY26, the company reported audited standalone revenue of ₹21,028.69 lakhs and net profit after tax of ₹2,826.55 lakhs, reflecting a 17.12% net profit margin and consistent operational efficiency. Concurrently, it raised ₹100 crores via NCD issuance on June 9, 2026, and an additional ₹19 crores through 1,900 NCDs on June 15, 2026, both secured by receivables and carrying 11-11.70% coupons with staggered repayments through 2029. These moves indicate proactive capital mobilization to fund growth while maintaining balance sheet discipline.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|
| Revenue | 21 | 27 | 32 | 37 | 46 | 49 |
| Operating Profit | 14 | 20 | 23 | 27 | 31 | 32 |
| OPM % | 67.5% | 72.4% | 71.1% | 72.1% | 67.3% | 65.6% |
| Net Profit | 4 | 5 | 4 | 4 | 6 | 6 |
| EPS | ₹0.27 | ₹0.30 | ₹0.26 | ₹0.27 | ₹0.35 | ₹0.35 |
Revenue has grown steadily from ₹27 lakhs in Q3FY24 to ₹49 lakhs in Q3FY25, with operating profit margins remaining robust above 65% and net profit margins consistently around 17-18%. EPS rose from ₹0.26 in Q4FY24 to ₹0.35 in Q3FY25, signaling improving bottom-line performance. This upward trend in financial results aligns with management's focus on scaling receivables-based income and enhancing operational leverage, supported by disciplined cost and risk management.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance in the reviewed filings. However, the repeated issuance of secured NCDs with staggered maturities and fixed coupons suggests a strategy to fund growth without diluting equity, while maintaining flexibility in capital allocation. The absence of formal guidance is consistent with prior patterns of incremental disclosures focused on execution rather than projections.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Bajaj Finance Limited | 5.67 L Cr | 30.9 | 22.4% | 18.6% | 1.37 |
| Bajaj Finserv Limited | 2.77 L Cr | 14.4 | — | 13.4% | — |
| Shriram Finance Limited | 2.21 L Cr | 23.3 | — | — | — |
| Jio Financial Services Limited | 1.54 L Cr | 92.1 | — | — | — |
| Power Finance Corporation Limited | 1.47 L Cr | 5.0 | — | — | — |
| Muthoot Finance Limited | 1.33 L Cr | 26.6 | — | — | — |
| Cholamandalam Investment and Finance Company Limited | 1.32 L Cr | 31.9 | — | — | — |
| Tata Capital Limited | 1.31 L Cr | — | — | — | — |
| Indian Railway Finance Corporation Limited | 1.29 L Cr | 18.4 | — | — | — |
| Bajaj Holdings & Investment Limited | 1.15 L Cr | 15.3 | — | — | — |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Concentration in receivables-based lending exposes the company to credit and collection risks if counterparties default. 2. High reliance on short-term fundraising via NCDs may affect refinancing flexibility if market conditions deteriorate. 3. Low trading liquidity and small market capitalization could amplify price volatility. 4. Absence of formal guidance may lead to investor uncertainty despite consistent operational performance.
📋 Recent Filings
-
Announcement 19 June 2026Mufin Green Finance Limited announced its participation in the 'Phillip Capital PCG-INDIA Inc. Unplugged' investor conference on June 23, 2026, at 10:...
-
🔴 Financial Results 17 June 2026No summary available
-
🔴 Corporate Action 15 June 2026Mufin Green Finance Limited announced the allotment of 1,900 non-convertible debentures with a face value of INR 1,00,000 each, raising Rs. 19,00,00,0...
-
🔴 Corporate Action 9 June 2026Mufin Green Finance Limited allotted 100,000 non-convertible debentures of INR 10,000 face value each through private placement on June 9, 2026, raisi...
-
Announcement 2 June 2026Mufin Green Finance Limited announced that its Management Committee approved the issuance of up to INR **119 crores** of listed, secured, non-converti...
-
🟡 Board Meeting 21 May 2026Mufin Green Finance Limited reported audited standalone financial results for Q4 and FY2026 ending March 31, 2026, approved on May 21, 2026. Revenue r...
-
🔴 Announcement 5 May 2026No summary available
-
share transfer 9 April 2026Mufin Green Finance Limited disclosed that Skyline Financial Services Private Limited, its share transfer agent, confirmed the cancellation and demate...
-
Announcement 30 March 2026Mufin Green Finance Limited filed a general corporate filing on NSE. Without access to specific document content, details regarding financial performa...
🧠 Analyst's Read
Mufin Green Finance is executing a disciplined growth strategy with improving profitability and targeted capital raises backed by receivables. Investors should monitor upcoming receivables performance, NCD repayment schedules, and any shifts in funding strategy as key indicators of sustained momentum.
Based on filing content and financial data. Not a recommendation.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-06-20.