MUFIN GREEN FINANCE LIMITED

BSE: MUFIN542774ISIN INE08KJ01020

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

Share price

₹137.25+0.45 (+0.33%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹143.90
52W low: ₹94.80
Off 52W high: -4.62%
1M return: +3.43%
3M return: +1.97%
6M return: +18.47%
1Y return: +12.22%
20D avg volume: 50,799
50 DMA: ₹134.56
200 DMA: ₹123.08

Key ratios Consolidated

Market cap: ₹2,720 Cr
Current price: ₹137.25
52W high / low: ₹143.90 / ₹94.80
Face value: ₹1.00
P/E: 72.16
P/B: 4.73
EPS (TTM): ₹1.90
Book value / share: ₹29.00
ROE: —
ROCE: —
Operating margin: —
Net margin: —
Debt / equity: 1.49
Net debt: ₹706.21 Cr
Interest cover: 1.32
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: —

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	76.86	64.67	55.93	53.48	48.93	49.62	48.57	46.21	36.98	32.21	27.18	21.13
	0.28	0.11	0.02	0.17	0.12	0.13	0.39	0.14	0.37	0.57	0.04	0.00
	77.14	64.77	55.95	53.65	49.05	49.75	48.96	46.34	37.35	32.78	27.22	21.14
	58.33	49.95	46.55	46.02	44.82	45.53	41.17	38.34	31.43	27.13	21.11	15.77
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.14	0.14	3.85	2.23	2.04	0.00	0.00	0.00	0.00
	5.78	5.91	5.97	6.45	6.74	6.90	6.52	5.84	6.00	5.77	4.29	3.42
	41.28	37.50	31.14	26.38	25.84	23.14	23.62	22.41	20.30	16.85	12.93	8.56
	0.61	0.75	0.69	0.70	0.51	0.83	0.83	0.83	0.82	0.96	0.67	0.34
	7.77	4.49	6.89	9.53	10.52	8.97	4.36	2.92	3.36	2.90	2.36	2.29
	18.82	14.83	9.39	7.62	4.22	4.22	7.78	8.01	5.92	5.65	6.10	5.37
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.52	0.00	0.00
	18.82	14.83	9.39	7.62	4.22	4.22	7.78	8.01	5.92	5.12	6.10	5.37
	4.80	3.74	2.39	2.04	1.08	0.77	—	—	—	—	—	—
	14.01	11.09	7.01	5.59	3.15	3.45	5.74	5.67	4.38	4.05	4.55	4.01
	0.71	0.63	0.41	0.33	0.25	0.21	0.35	0.35	0.27	0.26	0.30	0.26
Key metrics
	—	—	—	—	—	—	32.23	31.25	27.04	22.93	19.70	14.27
	—	—	—	—	—	—	66.40%	67.60%	73.10%	71.20%	72.50%	67.50%
	18.20%	17.10%	12.50%	10.50%	6.40%	7.00%	11.80%	12.30%	11.80%	12.60%	16.70%	19.00%
	57.10%	30.30%	15.20%	15.70%	32.30%	54.10%	78.70%	118.70%	—	—	—	—
	344.80%	221.40%	22.10%	-1.40%	-28.10%	-14.80%	26.20%	41.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	250.94	210.29	181.38	97.80
	0.58	0.42	1.02	0.64
	251.51	210.70	182.40	98.44
	200.85	172.72	156.47	76.68
	0.00	0.00	0.00	0.00
	0.14	0.00	8.12	0.00
	24.11	24.56	25.26	16.95
	136.30	120.05	89.47	44.40
	2.75	2.63	3.31	2.29
	28.68	18.43	25.79	9.88
	50.66	37.98	25.93	21.75
	0.00	0.00	0.00	-0.52
	50.66	37.98	25.93	21.23
	12.97	9.72	6.69	—
	37.70	28.26	19.24	16.06
	2.08	1.64	1.18	1.05
Key metrics
	—	—	—	67.92
	—	—	—	69.40%
	15.02%	13.40%	10.60%	16.40%
	29.80%	15.90%	85.50%	—
	109.33%	46.90%	19.80%	—
	—	-699.00	-153.41	—
	—	-24.59	-7.93	—
	—	1.49	1.93	—
	—	706.21	428.32	—
Balance sheet
	—	2,028	1,033	—
	—	149.17	91.95	—
	—	0.00	11.38	—
	—	0.00	0.00	—
	—	3.66	0.83	—
	—	855.38	520.27	—
	—	574.69	269.24	—
Cash flow
	—	-695.01	-152.55	—
	—	-173.01	90.21	—
	—	925.35	66.65	—
	—	3.99	0.86	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	76.86	64.67	55.93	51.42	48.02	40.55	43.09	40.31	37.02	32.21	27.18	21.13
	0.28	0.11	0.02	0.17	0.12	0.13	0.39	0.14	0.37	0.57	0.04	0.00
	77.14	64.77	55.95	51.59	48.14	40.68	43.47	40.45	37.38	32.78	27.22	21.14
	58.33	49.95	46.55	43.33	42.63	35.86	35.27	32.39	31.15	27.13	21.11	15.77
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	5.78	5.91	5.97	6.31	6.37	6.31	6.03	5.46	5.78	5.77	4.29	3.42
	41.28	37.50	31.14	25.98	25.43	22.76	23.59	22.41	20.30	16.85	12.93	8.56
	0.61	0.75	0.69	0.69	0.50	0.82	0.83	0.83	0.82	0.96	0.67	0.34
	7.77	4.49	6.89	7.53	9.25	4.15	4.02	2.75	3.30	2.90	2.36	2.29
	18.82	14.83	9.40	8.25	5.50	4.82	8.21	8.06	6.24	5.65	6.10	5.37
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.52	0.00	0.00
	18.82	14.83	9.40	8.25	5.50	4.82	8.21	8.06	6.24	5.12	6.10	5.37
	4.80	3.74	2.39	2.19	1.39	0.92	—	—	—	—	—	—
	14.01	11.09	7.01	6.06	4.11	3.90	6.06	5.71	4.62	4.05	4.55	4.01
	0.71	0.63	0.41	0.35	0.25	0.24	0.37	0.35	0.28	0.26	0.30	0.26
Key metrics
	—	—	—	—	—	—	32.63	31.30	27.36	22.93	19.70	14.27
	—	—	—	—	—	—	75.70%	77.60%	73.90%	71.20%	72.50%	67.50%
	18.20%	17.10%	12.50%	11.80%	8.60%	9.60%	14.10%	14.20%	12.50%	12.60%	16.70%	19.00%
	60.10%	59.50%	29.80%	27.60%	29.70%	25.90%	58.50%	90.80%	—	—	—	—
	240.90%	184.40%	15.70%	6.10%	-11.00%	-3.70%	33.20%	42.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	248.88	210.29	160.97	97.80	35.16	15.26
	0.58	0.42	1.02	0.64	0.14	0.02
	249.45	210.70	161.99	98.44	35.30	15.28
	198.16	172.72	134.67	76.68	24.51	2.60
	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00
	23.97	24.56	23.58	16.95	8.81	0.19
	135.90	120.05	89.05	44.40	5.63	0.15
	2.74	2.63	3.29	2.29	1.83	0.04
	26.68	18.42	14.21	9.88	4.96	2.15
	51.30	37.98	27.32	21.76	10.79	12.68
	0.00	0.00	0.00	-0.52	0.00	0.00
	51.30	37.98	27.32	21.23	10.79	12.68
	13.12	9.72	7.04	—	—	—
	38.17	28.27	20.29	16.06	8.12	10.88
	2.10	1.64	1.24	1.05	1.73	5.04
Key metrics
	—	—	—	67.92	18.25	12.87
	—	—	—	69.40%	51.90%	84.30%
	15.34%	13.40%	12.60%	16.40%	23.10%	71.30%
	44.72%	30.60%	64.60%	178.20%	130.40%	—
	92.97%	39.30%	26.30%	97.80%	-25.40%	—
	—	-699.00	-143.18	—	—	—
	—	-24.58	-7.02	—	—	—
	—	1.49	1.89	—	—	—
	—	706.31	418.28	—	—	—
Balance sheet
	—	2,028	1,021	—	—	—
	—	149.07	91.74	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	3.66	0.77	—	—	—
	—	855.38	510.02	—	—	—
	—	574.70	270.25	—	—	—
Cash flow
	—	-695.01	-142.39	—	—	—
	—	-173.01	90.27	—	—	—
	—	925.35	56.40	—	—	—
	—	3.99	0.79	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +81.52%
Sales CAGR 5Y: —
Profit CAGR 3Y: +51.56%
Profit CAGR 5Y: —
Sales YoY (TTM): +44.72%
Profit YoY (TTM): +92.97%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +29.80%
Profit YoY (TTM): +109.33%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 47.32%

Quarter	September 2026	June 2026
Promoter %	47.32%	47.32%

Holder	Type	Holding	Previous	Change
Hindon Mercantile Limited	Promoter	44.53%	44.53%	0.00%
Incofin India Progress Fund	Public	6.55%	6.55%	0.00%
Tata Banking & Financial Services Fund	Public	1.67%	1.67%	0.00%
Sangeetha S	Public	1.51%	1.51%	0.00%
Investor Education and Protection Fund	Public	1.42%	1.42%	0.00%
MMG Advisors LLP	Public	1.29%	1.29%	0.00%
Kapil Garg	Promoter	0.83%	0.83%	0.00%
Saurabh Garg	Promoter Group	0.56%	0.56%	0.00%
Shelly Garg	Promoter Group	0.56%	0.56%	0.00%
Pooja Garg	Promoter Group	0.56%	0.56%	0.00%
Bimapay Technology Private Limited	Promoter Group	0.28%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Bajaj Finance Limited	6,18,269	993.05	28.02	—	+18.82% TTM	+18.85% TTM	-6.05%
Shriram Finance Limited	2,13,119	905.70	16.80	—	+13.76% TTM	+28.60% TTM	+13.74%
Tata Capital Limited	1,43,392	337.80	23.16	—	—	—	+2.57%
Cholamandalam Investment and Finance Company Ltd	1,42,265	1,659.05	22.87	—	+21.13% TTM	+33.94% TTM	-5.48%
MUTHOOT FINANCE LIMITED	1,08,792	2,709.85	8.83	—	+47.27% TTM	+70.66% TTM	-15.07%
L&T Finance Limited	66,033	263.45	19.22	—	+20.11% TTM	+27.39% TTM	-5.93%
SBI CARDS AND PAYMENT SERVICES LIMITED S	52,626	553.00	20.18	—	+5.81% TTM	+35.96% TTM	-37.17%
Piramal Finance Limited	45,975	1,942.90	24.08	—	—	—	—
SUNDARAM FINANCE LTD	44,403	3,996.55	27.42	—	—	—	-16.26%
Authum Investment & Infrastructure Limited	43,913	517.10	25.16	—	-24.30% TTM	-56.50% TTM	-10.17%
HDB FINANCIAL SERVICES LIMITED S	42,098	506.65	14.22	—	—	—	-30.70%
POONAWALLA FINCORP LIMITED	41,349	469.55	38.02	—	+75.12% TTM	+399.21% TTM	-0.70%
Mahindra & Mahindra Financial Services Limited	37,542	270.05	10.42	—	+14.94% TTM	+45.99% TTM	-15.21%
Manappuram Finance Limited	29,495	314.00	20.41	—	+4.79% TTM	+85.35% TTM	+17.85%
IIFL FINANCE LIMITED	24,697	578.65	9.35	—	+35.37% TTM	+157.78% TTM	+7.38%
Capri Global Capital Limited	23,121	240.30	17.65	—	+52.88% TTM	+82.77% TTM	+21.89%
Five-Star Business Finance Ltd. S	11,724	397.15	10.50	—	+8.28% TTM	+1.05% TTM	-39.17%
SBFC Finance Limited	9,820	88.32	28.37	—	+28.23% TTM	+45.63% TTM	-24.80%
PAISALO DIGITAL LIMITED	7,279	77.43	27.42	—	+23.60% TTM	+27.97% TTM	+101.17%
Bengal & Assam Company Limited	6,477	5,680.00	8.29	—	+12.05% TTM	+3.26% TTM	-25.74%
Fedbank Financial Services Limited S	5,923	157.85	13.66	—	+21.29% TTM	+76.56% TTM	+10.46%
Mrugesh Trading Ltd. S	5,665	78.41	—	-0.30%	+21.12% TTM	+94.74% TTM	+3,464.09%
SG FINSERVE LIMITED S	4,670	708.75	24.95	—	+104.57% TTM	+86.47% TTM	+85.76%
MAS Financial Services Limited	4,607	253.90	10.89	—	+22.72% TTM	+23.77% TTM	-19.01%
Northern Arc Capital Ltd.	4,481	276.95	9.38	—	+29.02% TTM	+70.21% TTM	+0.64%
MUFIN GREEN FINANCE LIMITED	2,720	137.25	72.16	—	+29.80% TTM	+109.33% TTM	+12.22%

Filings & corporate actions

Recent announcements

Mufin Green Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/11/2026 ,inter alia, to consider and approve Unaudited Standalone and ....30 Oct 2026 · Board Meeting / Board Meeting
Intimation regarding allotment of Shares against exercise of ESOP options13 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September, 202611 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find attached Scrutinizer''s Report and Voting Results of Annual General Meeting held on Monday, September 28, 202630 Sep 2026 · AGM/EGM / AGM
Trading Window closure pursuant to SEBI (Prohibition of Insider Trading)Regulations, 201529 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Proceedings of Annual General Meeting held on September 28, 2026 at 3:30 P.M. through video conferencing ("VC") and other audio visual means ("OAVM")28 Sep 2026 · AGM/EGM / AGM
Intimation regarding listing of Foreign Currency denominated Bonds on India International Exchange (IFSC) Ltd.22 Sep 2026 · Company Update / General
Intimation of Credit Rating for Foreign Currency Bonds16 Sep 2026 · Company Update / Credit Rating
Intimation of Grant of Options under Mufin Green Finance Limited - Employee Stock Option Plan 202315 Sep 2026 · Company Update / Allotment of ESOP / ESPS
Clarification regarding meeting timing in the disclosure dated September 11, 202614 Sep 2026 · Company Update / General
Allotment of Foreign Currency Denominated Bonds under the External Commercial Borrowing Framework11 Sep 2026 · Company Update / Allotment of Equity Shares
Newspaper Advertisement regarding 10th AGM of the Company6 Sep 2026 · Company Update / Newspaper Publication
Business Responsibility and Sustainability Report for FY20265 Sep 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Notice of 10th Annual General Meeting and Annual Report for FY20265 Sep 2026 · Others / Reg. 34 (1) Annual Report
Notice of 10th Annual General Meeting scheduled to be held on Monday, September 28, 20265 Sep 2026 · AGM/EGM / AGM
Please find attached newspaper advertisement regarding 10th Annual General Meeting of the Company scheduled to be held on Monday, September 28, 20265 Sep 2026 · Company Update / Newspaper Publication
Announcement under Regulation 30 (LODR) for appointment of Chief Compliance Officer and Head of Strategy designated as Senior Management Personnel.2 Sep 2026 · Company Update / Change in Management
Outcome of Board Meeting dated September 09, 20262 Sep 2026 · Others / Outcome without intimation
Transcript of conference call conducted on August 20, 202626 Aug 2026 · Company Update / Earnings Call Transcript
Intimation of Analyst/ Investor meet scheduled to be held on Thursday, August 20, 2026.14 Aug 2026 · Company Update / Analyst / Investor Meet
Newspaper publication of Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 202613 Aug 2026 · Company Update / Newspaper Publication
Allotment of Secured Redeemable Non-Convertible Debentures on Private Placement basis12 Aug 2026 · Company Update / Allotment of Equity Shares
Investor Presentation for Quarter Ended June 30, 202611 Aug 2026 · Company Update / Investor Presentation
Please find the attached Monitoring Agency Report for Quarter Ended June 30, 202611 Aug 2026 · Company Update / Monitoring Agency Report
Please find the attached Financial Results for Quarter Ended June 30, 202611 Aug 2026 · Result / Financial Results
Outcome of the Board Meeting11 Aug 2026 · Board Meeting / Outcome of Board Meeting
Allotment of Secured Redeemable Non-Convertible Debentures on Private Placement basis7 Aug 2026 · Company Update / Allotment of Equity Shares
Mufin Green Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve unaudited Standalone and ....6 Aug 2026 · Board Meeting / Board Meeting
Please find the attached outcome of the Committee Meeting held today.31 Jul 2026 · Board Meeting / Outcome of Board Meeting
Mufin Green Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 31/07/2026 ,inter alia, to consider and approve raising of funds by issuance ....28 Jul 2026 · Board Meeting / Board Meeting
Allotment of Non-Convertible Debentures on Private Placement Basis21 Jul 2026 · Company Update / Allotment of Equity Shares
Issue of Non-Convertible Debentures (NCDs) on Private Placement basis and Foreign currency denominated bonds under ECB Framework14 Jul 2026 · Company Update / Issue of Securities
Issue of NCDs on Private Placement Basis and Foreign Currency Denominated Bonds under ECB Framework14 Jul 2026 · Board Meeting / Outcome of Board Meeting
Mufin Green Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/07/2026 ,inter alia, to consider and approve the raising of funds by ....9 Jul 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 20267 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201527 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Please find the attached intimation for Participation in the Analysts and Investor Meet.19 Jun 2026 · Company Update / General
Please find the attached intimation for Allotment of Non Convertible Debentures15 Jun 2026 · Company Update / Allotment of Equity Shares
Please find the attached intimation for allotment of Non Convertible Debenture9 Jun 2026 · Company Update / Allotment of Equity Shares
Transcript of earnings conference call conducted on May 28, 20264 Jun 2026 · Company Update / Earnings Call Transcript

Board meetings

5 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results