Mufin Green Finance Ltd

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Mufin Green Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Mufin Green Finance Ltd

₹ 139 -0.85%
13 Nov 10:23 a.m.
apmfinvest.com BSE: 542774 NSE: MUFIN
About

APM Finvest Limited was incorporated in May 2016, a Non-Banking Financial Company Non-Deposit Taking (NBFC-ND) registered with Reserve Bank of India and is carrying on the business of Investment into shares, stocks, securities, and providing loans of all kinds.[1] [2]

Key Points

Business Transition[1][2]
The company has repositioned itself from a climate-finance NBFC into a technology-driven digital lending NBFC, operating across four verticals: Mediclaim financing, Salary Saathi (payroll-linked government employee loans), MSME/Corporate & Other loans, and Climate financing (EV and Solar). Its digital lending model enables loan approval, disbursement, and collections directly through insurance checkout platforms and employer payroll systems, without relying on branches or field staff.
The legacy climate-financing business follows B2B asset-leasing and B2C EV-lending models, with FY26 assets of approximately ₹293 Cr and ₹166 Cr, respectively. However, this business is now under a managed run-down strategy, with no aggressive fresh lending planned. Cash generated from the mature B2B portfolio is being redeployed towards the higher-growth Mediclaim and Salary Saathi businesses.[3]

Website BSE NSE
  • Market Cap ₹ 2,761 Cr.
  • Current Price ₹ 139
  • High / Low ₹ 145 / 94.8
  • Stock P/E 58.5
  • Book Value ₹ 30.5
  • Dividend Yield 0.00 %
  • ROCE 10.7 %
  • ROE 6.69 %
  • Face Value ₹ 1.00
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 4.59 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 6.97% over last 3 years.
  • Promoter holding has decreased over last 3 years: -10.9%
  • Working capital days have increased from 39.7 days to 108 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Non Banking Financial Company (NBFC)

Part of BSE Financial Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
21 27 32 37 46 49 50 49 53 53 65 77 87
Interest 9 13 17 20 22 24 23 26 26 31 38 41 53
7 7 9 10 15 17 22 18 19 12 12 16 17
Financing Profit 6 7 6 6 9 8 5 5 8 10 15 19 17
Financing Margin % 27% 25% 19% 17% 19% 17% 10% 9% 15% 19% 24% 25% 20%
0 0 0 0 0 0 0 0 0 0 0 0 3
Depreciation 0 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 5 6 5 6 8 8 4 4 8 9 15 19 19
Tax % 25% 25% 21% 26% 29% 26% 18% 26% 27% 25% 25% 26% 23%
4 5 4 4 6 6 3 3 6 7 11 14 15
EPS in Rs 0.27 0.30 0.25 0.27 0.35 0.36 0.22 0.20 0.33 0.40 0.56 0.71 0.76
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025 Mar 2026 TTM
98 182 211 281
Interest 45 90 120 163
29 63 50 56
Financing Profit 24 29 40 62
Financing Margin % 24% 16% 19% 22%
-0 0 0 3
Depreciation 2 3 3 3
Profit before tax 21 26 38 62
Tax % 24% 26% 26%
16 19 28 47
EPS in Rs 0.99 1.20 1.43 2.43
Dividend Payout % 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 40%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 153%
Stock Price CAGR
10 Years: %
5 Years: 88%
3 Years: 4%
1 Year: 24%
Return on Equity
10 Years: %
5 Years: %
3 Years: 7%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 16 16 20 20
Reserves 228 253 555 585
Borrowing 640 714 1,398 1,746
41 50 55 46
Total Liabilities 926 1,033 2,028 2,397
9 6 7 12
CWIP 0 0 0 0
Investments 5 5 165 294
912 1,022 1,855 2,092
Total Assets 926 1,033 2,028 2,397

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025 Mar 2026
-359 -153 -695
-57 90 -173
486 67 925
Net Cash Flow 70 4 57
Free Cash Flow -361 -153 -699

Ratios

Consolidated / View Standalone

Mar 2024 Mar 2025 Mar 2026
ROE % 7% 8% 7%

Insights

In beta
Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Gross AUM (Asset Under Management)
₹ Crore

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Active Customers
Number
Disbursements
₹ Crore
Employee Strength
Number
Gross NPA
%
AUM Mix - EV & Solar Financing
% of AUM
AUM Mix - Mediclaim Financing
% of AUM

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
58.18% 54.77% 54.51% 54.51% 54.35% 54.31% 54.20% 54.20% 54.11% 47.30% 47.30% 47.30%
0.00% 0.11% 0.49% 0.33% 0.86% 1.25% 0.85% 0.84% 1.06% 1.18% 2.26% 1.80%
14.12% 13.16% 13.09% 13.09% 12.54% 12.53% 11.85% 11.90% 8.39% 9.29% 10.05% 10.05%
27.70% 31.96% 31.90% 32.06% 32.25% 31.92% 33.10% 33.05% 36.43% 42.22% 40.39% 40.84%
No. of Shareholders 18,85022,13325,00924,01725,50325,97126,48527,23727,35825,76724,96425,820

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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