Synopsis: Mufin Green Finance delivered a strong Q4 FY26 performance backed by robust growth in revenue, financing profit, and net earnings. The company benefited from rising demand for electric vehicle financing and expanding green mobility adoption across India. Strong margin improvement and higher lending activity helped the NBFC report healthy profitability growth during the quarter.
Mufin Green Finance Limited is a non-banking financial company (NBFC) focused on financing electric vehicles and sustainable mobility solutions. The company primarily provides loans for electric two-wheelers, three-wheelers, commercial EVs, and allied clean-energy transportation segments.
The company has a market capitalization of Rs. 2,116 crore, while its shares were trading at Rs. 122 per share, up by 0.30% compared to its previous close of Rs. 121.90. The stock touched a 52-week high of Rs. 126 and a low of Rs. 69. Mufin Green Finance has a stock P/E ratio of 74.9 and a book value of Rs. 33.2 per share. The company reported ROCE of 10.7 percent and ROE of 6.69 percent.
Mufin Green Finance reported revenue of Rs. 65 crore in Q4 FY26, compared to Rs. 53 crore in Q3 FY26 and Rs. 41 crore in Q4 FY25. Revenue increased by nearly 23 percent sequentially and surged around 59 percent YoY, reflecting strong growth in lending activity and expansion in its financing portfolio.
Financing profit stood at Rs. 15 crore during Q4 FY26 against Rs. 10 crore in Q3 FY26 and Rs. 6 crore in Q4 FY25. Financing profit jumped nearly 50 percent on a sequential basis and recorded a strong 150 percent YoY increase.
Profit before tax came in at Rs. 15 crore in Q4 FY26, compared to Rs. 9 crore in Q3 FY26 and Rs. 5 crore in Q4 FY25. PBT increased nearly 67 percent QoQ and surged about 200 percent YoY, highlighting strong operational momentum during the quarter.
Net profit for Q4 FY26 stood at Rs. 11 crore, compared to Rs. 7 crore in Q3 FY26 and Rs. 4 crore in Q4 FY25. Net profit rose around 57 percent sequentially and jumped nearly 175 percent on a yearly basis. Earnings per share (EPS) improved to Rs. 0.64 in Q4 FY26 against Rs. 0.40 in Q3 FY26 and Rs. 0.24 in Q4 FY25.
Industry Outlook
India’s EV financing and green mobility ecosystem is witnessing rapid expansion, supported by strong government initiatives and rising consumer adoption. India’s electric vehicle market is expected to grow at a CAGR of over 28 percent through 2030, while EV sales are projected to cross 1 crore units annually by the end of the decade.
India’s financial services sector is also expected to nearly double its profit pool by FY30, driven by retail lending, digital finance, and financial inclusion. Rising penetration of EV financing, government subsidies, and improving charging infrastructure are expected to accelerate growth for specialized lenders operating in the sustainable finance segment.
Mufin Green Finance delivered an impressive Q4 FY26 performance with strong growth in revenue, margins, and profitability. The company continues benefiting from rising electric vehicle adoption and growing demand for green mobility financing across India. Improved financing margins and higher earnings reflect strengthening operational performance.
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