Mufin Green Finance Limited, formerly known as APM Finvest Limited, was incorporated in May 2016 as a Non-Banking Financial Company Non-Deposit Taking (NBFC-ND) registered with the Reserve Bank of India. The company underwent a name change from APM Finvest Limited to Mufin Green Finance Limited on July 15, 2022, marking its strategic pivot towards sustainable financing solutions.
The company is primarily engaged in financing climate-sustainable products and provides loans for income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries. As a pioneer in green financing solutions in India, Mufin Green Finance contributes to the EV ecosystem by providing loans through EV & Electric Charging Infrastructure, positioning itself as a leading NBFC catering to Electric Vehicle Loans for income generation purposes.
Mufin Green Finance enables financing options for a variety of electric vehicles used for income generation purposes. It offers B2B financing for electric 2-wheelers, electric rickshaws, electric 3-wheelers, and electric 4-wheelers, as well as channel finance. Additionally, the company provides B2C financing for electric 2-wheelers, electric 3-wheelers, and electric rickshaws.
The company facilitates growth for charge point operators in the country by leasing/financing charging equipment. It also operates as market leaders in swappable battery infrastructure for 2-wheelers and 3-wheelers based on committed utilizations. Mufin Green Finance prides itself on its 100% digital and process-driven approach to creating financing solutions for climate-sustainable products for a greener planet.
As of recent data, Mufin Green Finance has a market capitalisation of ₹1,494 crores, with revenue of ₹161 crores and profit of ₹20.3 crores. The company has shown significant growth momentum in recent quarters.
Key highlights from recent quarterly results:
- Q4 FY2025: Revenue jumped 51.77% year-on-year to ₹49.75 crores. Net profit fell 11.11% year-on-year to ₹3.60 crores, with the net profit margin falling 41.43% year-on-year to 7.24%.
- Q3 FY2025: Net profit rose 33.19% to ₹6.06 crores versus ₹4.55 crores in Q3 2023. Sales rose 58.94% to ₹43.01 crores from ₹27.06 crores in the same period.
- Q2 FY2025: Net profit rose 42.39% to ₹5.71 crores versus ₹4.01 crores in Q2 2023. Sales rose 90.44% to ₹40.24 crores from ₹21.13 crores in the same period.
- Market Capitalization: ₹1,494 crore
- Revenue: ₹161 crore
- Profit: ₹20.3 crore
- Promoter Holding: 54.1%
- Stock P/E: 73.9
- Book Value: ₹16.5
- Return on Equity (ROE): 7.89%
- Return on Capital Employed (ROCE): 12.5%
- Dividend Yield: 0.00%
- 52-Week High: ₹141.4
- 52-Week Low: ₹63.11
The company is led by Chairman Manoj Kumar Bhatt and Managing Director Kapil Garg. The primary promoter is Hindon Mercantile Limited, which owns 53.98% of the total equity. There is no promoter pledging in the company, indicating strong promoter confidence.
In July 2025, the company's board approved raising up to ₹54.48 crores via secured non-convertible debentures through private placement. Mufin Green Finance aims for Assets Under Management (AUM) of ₹1,300 crores by FY26, with plans to reduce EV exposure from 75% to 60% while diversifying into solar and healthcare financing.
The company has raised funding over multiple rounds, with its latest funding round being a Post IPO round in February 2024 for $16.9 million, with participation from investors including SBI, ICICI Bank, Kotak Mahindra Investments, and Shell Foundation.
Mufin Green Finance has created fair opportunities for underserved segments in semi-urban and rural areas by catering to their financial needs for income-generating purposes. The cost of operating an EV is approximately 1/10th compared to ICE vehicles, resulting in enhanced savings and improved livelihood. EV vehicles are comparatively easier to drive, enabling more women drivers and borrowers, with EVs often becoming debt-free in 15-18 months.
The company is listed on both BSE (stock code: 542774) and NSE (symbol: MUFIN), providing investors with multiple platforms for trading.
Mufin Green Finance Limited represents a compelling investment opportunity in India's growing green financing sector, combining sustainable business practices with strong financial performance and clear growth strategies in the rapidly expanding electric vehicle ecosystem.
