Multibagger stock NBFC stock Mufin Green Finance recommends 2:1 bonus shares, scrip up 264% from 52-week-low
1 min read 26 May 2023, 05:24 PM ISTMufin Green Finance is a small cap company that recorded a market cap of ₹660.10 Cr during Friday's closing session.
PremiumMufin Green Finance is a small cap company that recorded a market cap of ₹660.10 Cr during Friday's closing session. A well-known NBFC that offers loans for electric vehicles is Mufin Green Finance. The company released its Q4 and FY23 results, as well as a 2:1 bonus share recommendation.
The Board of Directors have approved “Issuance of Bonus issue of equity shares in proportion of 02 (two) equity share of Rs. 1/- each for every 1 (One) equity shares of Rs. 1/- each held by the shareholders of the Company as on record date, subject to the approval of shareholders by Postal Ballot," said Mufin Green Finance in a stock exchange filing.
During Q4FY23, the company reported a net income of ₹13.60 Cr up by 21.87% YoY from ₹11.15 Cr in Q4FY22. During the quarter ended March 2023 its net profit stood at ₹2.65 Cr as against a net loss of ₹1.10 recorded during the quarter ended March 2022, representing a gain of 341.44%. The EPS of Mufin Green Finance climbed by 303.85% from ₹(-0.26) to ₹0.53.
The company has reported a total income of Rs.35.30 crores during the financial year ended March 31, 2023 as compared to Rs.15.27 crores during the year ended March 31, 2022, representing a growth of 131.06% YoY. During the year ended FY2023 its net profit stood at ₹8.11 Cr down by 25.41% YoY from ₹10.88 Cr in 12MFY22.
The shares of Mufin Green Finance closed on the BSE at ₹131.15 apiece up by 2.86% from the previous close of ₹127.50. The stock touched a 52-week-high of ₹143.40 on (25/01/2023) and a 52-week-low of ₹36.00 on (26/05/2022), indicating that at the current market price, the stock is trading 264.30% above the 1-year low and 8.54% below the 1 year high.
