An RBI-licensed Non-Banking Financial Company that lends in three segments: electric vehicle financing, Mediclaim (health insurance premium) financing, and MSME financing. Revenue in FY26 was Rs 210.29 crore, earned primarily as interest and fees on these loans, with a net profit of Rs 28.26 crore on total assets of Rs 2,027.50 crore. Assets under management grew 83.8% year-on-year to Rs 1,541 crore in FY26, with disbursements of Rs 1,767.59 crore over the year. Funding is raised through listed secured non-convertible debentures on private placement at coupons of 10% to 11.70%, and through foreign currency bonds under the ECB route, bringing the blended cost of borrowings to 12.17% after a credit rating upgrade to A- (Stable) by Acuite. Asset quality improved, with Gross NPA declining from 2.50% to 1.94% and collection efficiency consistently above 96.5%. Operating leverage came from a 15.83% workforce reduction (499 to 420 employees) while disbursements grew 5.5x, yielding Rs 4.21 crore of disbursements per employee. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. EV financing, Mediclaim financing, MSME financing. Asset-light NBFC lending across three niche retail and small-business segments
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 98 | 181 | 210 |
| EBITDA (ex other income) | 67 | 118 | 160 |
| margin % | 68.8 | 64.9 | 76.2 |
| Owners' profit | 16 | 20 | 28 |
| EPS, as reported (₹) | 1.05 | 1.18 | 1.64 |
| ROE % · ROCE % | 6.6 · — | 7.1 · — | 4.9 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 |
| Cash from operations | (359) | (153) | (695) |
| Capex | (0) | (1) | (4) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 46 | 49 | 50 | 49 | 53 | 56 | 65 | 77 |
| Profit before tax | 8 | 8 | 4 | 4 | 8 | 9 | 15 | 19 |
| Net profit | 6 | 6 | 3 | 3 | 6 | 7 | 11 | 14 |
| EPS (₹) | 0.35 | 0.35 | 0.21 | 0.25 | 0.33 | 0.41 | 0.63 | 0.71 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Allotment of USD Denominated Bonds under ECB Framework | fund raising | medium | — | — |
| 6 Sept 2026 · Newspaper ad for 10th AGM notice and e-voting information | compliance | minimal | — | — |
| 5 Sept 2026 · Mufin Green Finance files BRSR for FY2026 with AUM of Rs 1,541 crore | compliance | low | — | — |
| 5 Sept 2026 · Notice of 10th AGM (September 28, 2026) and FY2025-26 Annual Report | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · Notice of 10th AGM on September 28, 2026; FY26 Annual Report | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 10th AGM set for September 28, 2026 via video conferencing | compliance | minimal | — | — |
| 2 Sept 2026 · Mufin Green Finance appoints Chief Compliance Officer and Head of Strategy as SMP | management changes | medium | — | — |
| 2 Sept 2026 · Board approves AGM notice, appoints CCO and Head of Strategy | board shareholder meetings | low | — | — |
| 31 Aug 2026 · NSE seeks clarification from Mufin Green Finance on quarterly results | regulatory legal | high | — | — |
| 26 Aug 2026 · Q1 FY27 earnings call transcript: margins improve, cost of borrowing drops 263 bps | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| MUTHOOT FINANCE LIMITED |
| 1,12,094 |
| 9.9 |
| 2.82 |
| 3.9 |
| 26.7 |
| — |
| 22.0 |
| 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 64.7 | 18.2 | 180 of 212 | 15% |
| P/B | 4.6 | 1.1 | 223 of 245 | 9% |
| ROE | 4.9 | 3.0 | 110 of 266 | 59% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 79.0 | 48.6 | 54 of 249 | 79% |
| Revenue growth | 57.1 | 12.6 | 55 of 231 | 77% |
| Profit growth | 345.6 | 7.8 | 26 of 251 | 90% |
| Market cap | 2665 | 37 | 28 of 260 | 90% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
