Company Intelligence Profile
Mufin Green Finance Limited
Mufin Green Finance Limited is a Delhi-headquartered, RBI-registered NBFC listed on BSE/NSE that specializes in financing electric vehicles, solar energy solutions, and related green infrastructure for retail and MSME borrowers.
CIN: L65990RJ2016PLC054921Active; Listed Public Limited CompanyCurrently RoC DelhiConfidence: medium-high — CIN↔name match confirmed via Tofler
Last updated 6 September 2026
AI OverviewGenerated from public records
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
Confirmed| Registered name | Mufin Green Finance Limited |
|---|---|
| CIN | L65990RJ2016PLC054921 |
| PAN | AAOCA3945K [Source: Tofler] |
| Status |
|
| Listing | Yes — Listed on BSE (Scrip Code 542774) and NSE. [Source: company financial-results filing to BSE/NSE, May 2026] |
| Incorporated | 13 May 2016 (originally incorporated in Rajasthan; per ACUITE rating report). [Source: Tofler, ACUITE rating report Aug 2023] |
| ROC |
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| Sector (NIC) |
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| Registered address |
|
| Authorized capital | ₹50.00 crore [Source: Tofler, TheCompanyCheck — consistent across both] |
| Paid-up capital |
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Business Overview
Confirmed- Mufin Green Finance Limited (MGFL) is an RBI-registered Non-Deposit taking NBFC positioned as a "Pioneer in EV & Solar Financing." It provides financing across electric-vehicle loans (2W/3W and infrastructure), solar energy solutions, government-employee loans, and mediclaim financing, primarily to underserved retail/MSME borrowers via OEM and dealer networks
- Per the Aug-2023 ACUITE rating report, the group had cumulatively financed ~18,700 e-vehicles and disbursed over ₹200 Cr since 2016, serving 21,000+ customers across 10 states with geographic concentration in UP and Delhi
- The company was acquired by Hindon Mercantile Limited in March 2022 and now operates as part of the "Mufin group." [Sources: mufingreenfinance.com, ACUITE rating report Aug 2023]
Directors
Confirmed| Name | DIN | Role | Appointed |
|---|---|---|---|
| Kapil Garg | 01716987 | Managing Director, DIN 01716987 co-promoter, ~15 yrs experience in legal/audit/compliance | - |
| Nitin Goel | 01737352 | Director, DIN 01737352 | - |
| Hemant Bhageria | 06476292 | Director, DIN 06476292 | - |
| Manoj Kumar Bhatt | 09452843 | Director, DIN 09452843 | - |
| Sanchi Pandey | 08210470 | Director, DIN 08210470 | - |
| Srishti Agarwal | 10229578 | Director, DIN 10229578 Per ACUITE report, 4 of 6 are independent directors and one is a female director. CEO non-board, per ACUITE report: Pankaj Gupta. Company Secretary & Compliance Officer per May-2026 BSE filing: Mayank Pratap Singh. [Sources: Tofler, mufingreenfinance.com/board-of-directors, ACUITE rating report] | - |
Financials
ConfirmedStandalone Audited Financial Results for Year Ended 31 March 2026 (filed with BSE/NSE, Board meeting 21 May 2026; figures in ₹ lakh unless noted):
| Total Income | ₹21,070.26 lakh (₹210.7 Cr) vs ₹16,198.83 lakh (₹162.0 Cr) FY25 — YoY growth ~30% |
|---|---|
| Interest income | ₹20,698.13 lakh (FY26) vs ₹16,037.02 lakh (FY25) |
| Profit Before Tax | ₹3,798.21 lakh vs ₹2,732.29 lakh FY25 |
| Profit After Tax (net profit) | ₹2,826.55 lakh (₹28.27 Cr) vs ₹2,028.56 lakh (₹20.29 Cr) FY25 |
| Basic EPS | ₹1.64 (FY26) vs ₹1.24 (FY25); face value ₹1/share |
| Net worth (Total Equity) | ₹57,469.86 lakh (₹574.7 Cr) as at 31-Mar-26 vs ₹27,024.77 lakh (₹270.2 Cr) as at 31-Mar-25 — driven by large equity raises during FY26 (₹28,438 lakh proceeds from equity shares + ₹1,875 lakh share warrants per cash-flow statement) |
| Total Borrowings | Debt securities ₹54,221.52 lakh + Other borrowings ₹85,538.30 lakh = ₹1,39,759.82 lakh (₹1,397.6 Cr) as at 31-Mar-26, vs ₹70,367.21 lakh (₹703.7 Cr) FY25 |
| Total Assets | ₹2,02,750.89 lakh (₹2,027.5 Cr) as at 31-Mar-26 vs ₹1,02,138.02 lakh FY25 — loan book (Loans asset) grew from ₹83,084.01 lakh to ₹1,53,040.60 lakh |
| Basis | STANDALONE (Board also approved consolidated results same date, but only standalone figures were extracted from the filing) |
Cross-check via Screener.in (as of ~Jun 2026): Revenue ₹210 Cr, Net Profit ₹28 Cr, Market Cap ₹2,719 Cr, CMP ₹137, Book Value ₹29.0/share, P/E 96.2x, P/B 4.73x — figures reconcile closely with the primary filing. Historical (ACUITE report, FY23): AUM ₹261.61 Cr (vs ₹48.39 Cr FY22, ₹19 Cr FY21); Net worth ₹153.68 Cr; Net debt ₹225.99 Cr; CRAR 54.1%; cash & equivalents ₹118.22 Cr as at Mar-2023. [Sources: Company's own audited standalone results PDF filed with BSE/NSE (primary, May 2026); Screener.in (secondary cross-check); ACUITE rating report Aug-2023 (historical)]
Funding
Partial / conflicting- (1) Acquired by Hindon Mercantile Limited in March 2022, bringing MGFL under the "Mufin group" [ACUITE report]
- (2) Capital infusion of ₹45 Cr received in September 2022 from equity fund Incofin India [ACUITE report]
- (3) FY26 saw a large equity capital raise: ₹28,438.03 lakh (₹284.4 Cr) from issue of equity shares plus ₹1,875 lakh (₹18.75 Cr) from share warrants, per the FY26 cash-flow statement — consistent with the jump in net worth and paid-up capital noted above
- No further round names, valuations, or additional named investors could be confirmed. [Sources: ACUITE rating report Aug-2023; company's audited FY26 cash-flow statement]
In the News
ConfirmedMufin Green Finance AUM reaches ₹1,541.17 crore with 32.08% capital adequacy ratio
scanx.trade · 5 days ago
Mufin Green Finance schedules 10th AGM for September 28, 2026
scanx.trade · 6 days ago
Mufin Green Finance Bolsters Governance Ahead of 10th AGM
TipRanks · 9 days ago
Mufin Green Finance Limited Announces Management Changes, Effective September 02, 2026
marketscreener.com · 9 days ago
Mufin Green Finance Ltd. Key Financial Ratios – Valuation, Profitability & More
Value Research · 11 days ago
Headlines about Mufin Green Finance Limited reported by third-party publications. Recur Club does not author or endorse this coverage. Last checked 4 days ago.
Source: Google News aggregated headlines
Charges / Loans
Partial / conflicting- Open charges outstanding of ₹2,119.52 Cr and satisfied charges of ₹301.59 Cr on ROC records (these ROC charge figures typically reflect sanctioned/cumulative charge amounts across facilities/tranches, not necessarily net outstanding debt — they run well above the ₹1,397.6 Cr borrowings figure in the FY26 balance sheet, so treat the ₹2,119.52 Cr as gross sanctioned charge value, not net debt)
- Top lenders/security-trustees identified: Axis Trustee Services Limited (₹308.4 Cr), Indian Renewable Energy Development Agency Limited / IREDA (₹146.5 Cr), MAS Financial Services Limited (₹117.5 Cr). [Sources: TheCompanyCheck, Tofler]
Credit Ratings
Partial / conflicting- 'ACUITE BBB' with 'Stable' outlook — assigned/reaffirmed across three instruments as of the Aug-2023 press release: Bank Loan Ratings ₹100 Cr (reaffirmed), Bond ₹100 Cr (assigned), Non-Convertible Debentures ₹60 Cr (assigned); total rated quantum ₹260 Cr. Rating rationale cited management experience in EV financing, AUM growth to ₹261.61 Cr (Mar-2023) from ₹48.39 Cr (Mar-2022), and CRAR of 54.1%; offset by moderate asset quality and modest scale
- No more recent (2024/2025/2026) rating action or surveillance note could be located on the investor-relations page in this pass — flagged as a gap given the company has grown substantially since 2023. [Source: ACUITE rating press release, dated 6 Sept 2023 (document metadata) / referencing Aug-2023 committee action]
Legal / Litigation
Confirmed- (1) Mufin Green Finance Limited vs Blu-Smart Charge Private Limited — O.M.P.(I) (COMM.) 245/2025, multiple hearings Jul 2025–Dec 2025 before Justice Jasmeet Singh; petitioner represented by Adv
- Amol Sinha, Adv
- Kshitiz Garg
- (2) Mufin Green Finance Limited vs Embifi Global Services Private Limited — dated 28 Jan 2026, Delhi High Court
- Karnataka High Court: (3) M/S. Mufin Green Finance Limited vs State Of Karnataka — Case No. 10623/2026, dated 29 Apr 2026
- Nature/outcome of these matters not detailed in indexed snippets. [Source: indiankanoon.org]
Competitors
Partial / conflictingRevfin Services Pvt Ltd
EV/2W-3W retail financing NBFC, similar early/mid-growth scale
Three Wheels United
EV 3-wheeler financing platform, comparable niche scale
Vidyut
EV financing fintech/NBFC, similar scale
Kinara Capital
Broader MSME/green-asset NBFC lender, somewhat larger AUM scale
Turno
EV commercial-vehicle financing, comparable/smaller scale
Mahindra & Mahindra Financial Services / L&T Finance
much larger diversified NBFCs with EV financing as one segment
Frequently Asked Questions
What does Mufin Green Finance Limited do?
Mufin Green Finance Limited is a Delhi-headquartered, RBI-registered NBFC listed on BSE/NSE that specializes in financing electric vehicles, solar energy solutions, and related green infrastructure for retail and MSME borrowers.
What is the CIN of Mufin Green Finance Limited?
The Corporate Identification Number (CIN) of Mufin Green Finance Limited is L65990RJ2016PLC054921.
Where is Mufin Green Finance Limited registered?
Mufin Green Finance Limited is registered with Currently RoC Delhi (CIN L65990DL2016PLC447681). Registered address: 202, 2nd Floor, Best Sky Tower, Netaji Subhash Place, Pitampura, Shakur Basti, North West Delhi, Delhi – 110034.
When was Mufin Green Finance Limited incorporated?
Mufin Green Finance Limited was incorporated on 13 May 2016 (originally incorporated in Rajasthan; per ACUITE rating report).
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