Mufin Green Finance Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,697 Cr
- P/E
- 70.65
- ROE
- 6.69%
- PEG
- 1.37
- Price to sales
- 10.96
- Debt to equity
- 2.43
- 52W high / low
- ₹142 / ₹95.4
- Sales growth (5Y)
- 55.93%
- EBITDA margin
- 77.00%
- Net profit margin
- 13.43%
- Promoter holding
- 47.30%
- Sales (last year)
- ₹246 Cr
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]
Guidance scorecard · Q1 FY27 call
What Mufin Green's management guided
and where it ranks in Finance
Finance
RevenueQ4 FY26 call
40%+- Target AUM growth to approximately ₹2,500 crore in FY2026-27, up from ₹1,541.17 crore in FY2025-26.
- Focus on expanding high-yielding segments like Mediclaim Insurance Premium Financing to 50-60% of total AUM (₹1,000 crore target in FY2026-27).
- Expect disbursements to increase, with Q4 FY2025-26 disbursement at ₹700 crore — the highest quarterly disbursement historically.
- Full-year disbursement for FY2025-26 was ₹1,767.59 crore, with a strong month-on-month traction.
- Project nearly 3x jump in profitability (PAT target ₹80-90 crore for FY2026-27, up from ₹28.21 crore in FY2025-26).
2 more points from Mufin Green's call on revenue
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MarginsQ4 FY26 call
Up 2%+See what Mufin Green said on margins — free account, 30 seconds.
CapexQ4 FY26 call
- The company focuses on being a tech-first, asset-light financial institution, reducing manpower, and improving operational efficiency.
- Their strategy emphasizes growing through innovative tech-based products like Mediclaim Insurance Premium Financing and Government Salary-Backed Lending (Salary Saathi), rather than heavy capital investments.
- The company plans to grow its portfolio and profitability through securitization (PTC) and direct assignment (DA) transactions, aiming to avoid equity dilution and improve leverage.
- The board’s guidance is to focus on profitability and sustainable growth rather than large equity raises or capital investments.
FundraisingQ4 FY26 call
PlannedSee what Mufin Green said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- As of March 2026, Mufin Green Finance had an Assets Under Management (AUM) of ₹1,541.17 crore, reflecting its loan book rather than a traditional order book.
- The company targets AUM growth to approximately ₹2,500 crore for FY2026-27.
- Mediclaim Insurance Premium Financing, a key product, had an AUM of ₹607.88 crore in FY2025-26, with a target to grow this segment to ₹1,000 crore in FY2026-27.
- Salary Saathi (Government Salary-Backed Lending) stood at ₹26.40 crore AUM as of March 2026 with plans to scale significantly.
- EV and Solar Financing combined had an AUM of ₹459 crore as of March 2026.
2 more points from Mufin Green's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- 1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Mufin GreenThis stock | 40%+ | Up 2%+ | ₹2,632 Cr | 69.0 |
| 2 | 40%+ | Up 2%+ | ₹458 Cr | 23.7 | |
| 3 | 40%+ | Up 0–2% | ₹877 Cr | 29.8 | |
| 4 | 40%+ | Flat | ₹40,658 Cr | 37.4 | |
| 5 | 40%+ | Flat | ₹22,153 Cr | 16.9 | |
| 6 | 40%+ | Flat | ₹16,070 Cr | 70.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingMufin Green announcements
All announcements →- Fundraise / allotmentNotableMufin Green Finance approves allotment of up to USD 6,000,000 ECB bonds
Financials of Mufin Green
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Mufin Green
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 13 | 18 | 21 | 27 | 32 | 37 | 40 | 43 | 41 | 48 | 51 | 53 | 65 |
| Interest | 4 | 6 | 9 | 13 | 17 | 20 | 22 | 24 | 23 | 25 | 26 | 31 | 38 |
| Expenses + | 5 | 7 | 7 | 7 | 9 | 10 | 9 | 11 | 12 | 17 | 17 | 12 | 12 |
| Financing Profit | 4 | 5 | 6 | 7 | 6 | 7 | 9 | 9 | 6 | 6 | 9 | 10 | 15 |
| Financing Margin % | 30% | 28% | 27% | 25% | 19% | 18% | 22% | 20% | 14% | 12% | 17% | 19% | 24% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Profit before tax | 4 | 5 | 5 | 6 | 5 | 6 | 8 | 8 | 5 | 6 | 8 | 9 | 15 |
| Tax % | 25% | 25% | 25% | 25% | 21% | 26% | 29% | 26% | 19% | 25% | 27% | 25% | 25% |
| Net Profit + | 3 | 3 | 4 | 5 | 4 | 5 | 6 | 6 | 4 | 4 | 6 | 7 | 11 |
| EPS in Rs | 0.18 | 0.23 | 0.27 | 0.30 | 0.25 | 0.28 | 0.35 | 0.37 | 0.24 | 0.24 | 0.35 | 0.40 | 0.64 |
| Gross NPA % | |||||||||||||
| Net NPA % |
Financials of Mufin Green
Profit & Loss
Annual income statement trend
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 0 | 0 | 3 | 2 | 23 | 15 | 34 | 98 | 162 | 210 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 45 | 90 | 120 |
| Expenses + | 0 | 0 | 0 | 8 | -0 | 2 | 16 | 29 | 42 | 50 |
| Financing Profit | 0 | 0 | 3 | -7 | 23 | 13 | 12 | 24 | 30 | 40 |
| Financing Margin % | 10% | 81% | 94% | -395% | 99% | 83% | 36% | 24% | 19% | 19% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 3 | 3 |
| Profit before tax | 0 | 0 | 3 | -7 | 23 | 13 | 11 | 21 | 27 | 38 |
| Tax % | 0% | 23% | 14% | -9% | 12% | 14% | 25% | 24% | 26% | 26% |
| Net Profit + | 0 | 0 | 3 | -6 | 20 | 11 | 8 | 16 | 20 | 28 |
| EPS in Rs | -0.47 | 1.53 | 0.84 | 0.54 | 0.99 | 1.24 | 1.63 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 4% | 0% | 0% | 0% | 0% |
Financials of Mufin Green
Balance Sheet
Capital structure and asset base
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 4 | 4 | 4 | 4 | 5 | 16 | 16 | 20 |
| Reserves | 0 | 0 | 73 | 67 | 86 | 97 | 149 | 228 | 254 | 555 |
| Borrowing | 0 | 0 | 0 | 10 | 0 | 0 | 226 | 640 | 704 | 1,398 |
| Other Liabilities + | 0 | 0 | 1 | 0 | 2 | 1 | 16 | 41 | 47 | 55 |
| Total Liabilities | 2 | 2 | 78 | 82 | 93 | 103 | 395 | 926 | 1,021 | 2,028 |
| Fixed Assets + | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 9 | 6 | 7 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 1 | 66 | 59 | 73 | 10 | 3 | 5 | 5 | 165 |
| Other Assets + | 2 | 1 | 12 | 22 | 20 | 91 | 389 | 912 | 1,010 | 1,855 |
| Total Assets | 2 | 2 | 78 | 82 | 93 | 103 | 395 | 926 | 1,021 | 2,028 |
Financials of Mufin Green
Cash Flows
Operating, investing and financing cash movement
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | -2 | 3 | -13 | 4 | -58 | -175 | -359 | -142 | -695 |
| Cash from Investing Activity + | 0 | 0 | 0 | -1 | 6 | 67 | -85 | -57 | 90 | -173 |
| Cash from Financing Activity + | 2 | 0 | 0 | 10 | -10 | -0 | 269 | 486 | 56 | 925 |
| Net Cash Flow | 2 | -2 | 3 | -3 | -0 | 9 | 8 | 70 | 4 | 57 |
| Free Cash Flow | 0 | -2 | 3 | -13 | 4 | -60 | -175 | -361 | -143 | -699 |
| CFO/OP | 600% | -1,469% | 127% | 185% | 22% | -435% | -921% | -518% | -117% | -431% |
Financials of Mufin Green
Ratios
Working capital efficiency and return ratios
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 0% | 5% | 7% | -8% | 25% | 11% | 6% | 8% | 8% | 7% |
Momentum score · price trend
37 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +15.6% | 71% |
| Last 6 months | +19.0% | 75% |
| Last 3 months | +2.2% | 72% |
The price is 45.9% below its all-time high of ₹251.35 (9 Feb 2024). Stocks more than 20% below their peak have their score halved, so 73 became 37.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Mufin Green: 0.4 × 71 + 0.4 × 75 + 0.2 × 72 = 73, halved to 37 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Mufin Green's management said in earlier quarters
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