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Mufin Green Finance Limited (MUFIN) Fair Value & Analysis

Financial Services · IN · Market cap ₹27.6B (≈ $293M) · ISIN INE08KJ01020

What is Mufin Green Finance Limited really worth?

MG Mufin Green Finance Limited MUFIN · BSE
Price₹137.80
Fair Value₹18.54
Upside−86.6%
Quality26/100

Below-average quality, and trading another 643% above our fair value of ₹18.54.

As of Aug 22, 2026, the fair value of Mufin Green Finance Limited is ₹18.54 per share against a price of ₹137.80, so the fair value sits 87% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 41.1% net margin

Risks

!Expensive Growth (revenue 5y +106.8 %/yr)
!High debt · negative free cash flow
!Moderate moat 49/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range ₹13.91 – ₹23.18

Fair value as of: Aug 22, 2026

From 7 valuation models · updated 15 days ago

Share price +2.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹23.18). The favourable scenario is already priced in.
  • Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

₹268.45 ₹3.74 Fair Value ₹18.54 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range ₹3.74 – ₹268.45 · fair‑value band ₹13.91 – ₹23.18 · the ₹137.80 price screens above the ₹18.54 fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Mufin Green Finance Limited (MUFIN) currently trades at ₹137.80, while our model-based Fair Value estimate is ₹18.54, implying the stock looks roughly 643.5% overvalued today. The Quality Score stands at 26/100 (below-average quality), in the Financial Services sector. Bull case: the Earnings-Based group reads highest at a median of ₹49.92 per share, and 0 of the 6 models we run sit above the ₹137.80 price. Bear case: the Multiples group reads lowest at ₹18.54, and 6 of the 6 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Mufin Green Finance Limited generated revenue of ₹944M at a net margin of 41.1%. Revenue grew 49.0% year over year. It earns a return on equity of 6.7%. Net debt stands at ₹12.5B. Fundamentals as of Aug 22, 2026

Our scenario range runs from ₹13.91 (bear case) to ₹23.18 (bull case); at ₹137.80, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −48% fair-value upside, at −87%, MUFIN screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹0.9322 per share, which is 5.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence ₹22.18 ₹22.39 ₹21.32 74
Owner Earnings ₹42.45 71
P/E Multiple ₹13.91 ₹18.54 ₹23.18 63
All 7 models by family
DCF Models
Owner Earnings ₹42.45 71
Earnings-Based
Graham-Dodd ₹9.70 ₹67.64 ₹94.92 61
Lynch FV ₹34.94 ₹49.92 ₹64.89 59
Multiples
P/E Multiple ₹13.91 ₹18.54 ₹23.18 63
P/B Multiple ₹18.18 ₹24.25 ₹30.31 55
Asset-Based
NCAV (Graham) ₹14.50 ₹19.43 ₹29.00 54
Economic Profit
Residual Income best evidence ₹22.18 ₹22.39 ₹21.32 74

Widest divergence: Earnings-Based (₹49.92) versus Multiples (₹18.54). Highest evidence: Residual Income (74).

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Key figures & financial health

P/E ratio 64.4
P/S ratio 8.77 P/E × margin
EPS (TTM) ₹2.14 price ÷ EPS = P/E 64.4
Dividend yield 0.0% payout 1.0%
Net margin 13.6% FY2026
Return on equity 6.7% TTM
More key figures
Profitability
Return on assets (EBIT) 4.4% avg 5y
Operating margin 57.1% TTM
Growth
Revenue (TTM) ₹944M TTM
Revenue growth (YoY) +49.0% 3y avg +84.4%
EPS growth (YoY) +268%
Balance sheet & cash flow
Free cash flow −₹7.0B FY2026
Net debt ₹12.5B FY2026

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 26/100

Of which business quality 24 · Market factors (momentum, volatility) 82

Profitability 24
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 95
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Mufin Green Finance Limited operates as a non-deposit taking non-banking financial company in India. The company offers various loans for electric vehicles, electric charging infrastructure, and swappable batteries. It also provides operating or financial lease to fleet operators for the vehicles owned by the company.

Full company description

Mufin Green Finance Limited operates as a non-deposit taking non-banking financial company in India. The company offers various loans for electric vehicles, electric charging infrastructure, and swappable batteries. It also provides operating or financial lease to fleet operators for the vehicles owned by the company. In addition, the company is involved in the investment activities. Mufin Green Finance Limited was formerly known as APM Finvest Limited. The company was incorporated in 2016 and is based in Delhi, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Mufin Green Finance Limited reported revenue of ₹2.1B in FY2026 versus ₹153M in FY2022, a compound +92.1%/yr. Reported net income was ₹283M in FY2026, compounding +26.9%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹2.1B
Latest YoY
+14.8%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+84.4%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+106.8%
Avg. revenue growth/yr (6Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+137.7%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.8% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+3.8%
Dividend yield0.0%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.401.6% (2021) → 17.8% (2026) · falling
Worst earnings drop65% (2023) · in INR
Revenue +92.1%/yr
FY22 ₹153M
FY23 ₹331M
FY24 ₹903M
FY25 ₹1.8B
FY26 ₹2.1B
Net income +26.9%/yr
FY22 ₹109M
FY23 ₹81.2M
FY24 ₹161M
FY25 ₹196M
FY26 ₹283M

MUFIN screens 643% overvalued. Compare with Visa Inc →

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Cite: Fair Value Calculator (2026). "Mufin Green Finance Limited Fair Value". https://www.fairvalue-calculator.com/stock/MUFIN.BSE

Peer Group

Credit Services · 325 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 25 · Bottom 25%
Fair Value upside −87% · Bottom 25%
Return on equity (TTM) 7% · Below median
Return on assets 2% · Below median
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 57% · Above median
Revenue growth 49% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 2.43× · Higher than 75% of peers

Valuation Multiples vs Credit Services median · lower = cheaper

P/E (TTM) 64.4× · Pricier than 75% of peers
P/B 4.81× · Pricier than 75% of peers
P/S (TTM) 29.25× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Credit Services stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $379.66 $198.27 −48%
Mastercard Incorporated MA $591.73 $221.87 −63%
American Express Company AXP $326.16 $206.40 −37%
Capital One Financial Corporation COF $215.67 $117.51 −46%
Bajaj Finance Limited BAJFINANCE ₹1,093 ₹397.70 −64%
PayPal Holdings PYPL $61.47 $77.12 +25%
Shriram Finance Limited SHRIRAMFIN ₹1,134 ₹553.82 −51%
Synchrony Financial, SYF $78.05 $137.28 +76%
SoFi Technologies, Inc SOFI $18.06 $5.02 −72%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,866 ₹796.47 −57%

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Frequently asked questions

Is Mufin Green Finance Limited (MUFIN) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of ₹18.54 versus a price of ₹137.80, about −87% upside (overvalued).
What is the fair value of MUFIN?
Our model-based fair value for Mufin Green Finance Limited is ₹18.54 (as of Aug 22, 2026), built from audited fundamentals. The current price: ₹137.80.
What is the quality score of MUFIN?
Mufin Green Finance Limited has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Mufin Green Finance Limited (MUFIN)?
Our model-based price target is the fair value of ₹18.54 (as of Aug 22, 2026) from 7 valuation models. Cautious scenario ₹13.91, optimistic scenario ₹23.18. It is a calculation from audited fundamentals, not an analyst target.
What is the Mufin Green Finance Limited stock forecast for 2026?
Our models put fair value at ₹18.54, about −87% upside versus a price of ₹137.80 (overvalued). Cautious scenario ₹13.91, optimistic scenario ₹23.18. The calculation is refreshed regularly with new filings.
What is the revenue of Mufin Green Finance Limited (MUFIN)?
Mufin Green Finance Limited reported trailing-twelve-month revenue of about ₹944M (latest available figure, as of Aug 22, 2026).
What is the net profit margin of MUFIN?
The net profit margin of Mufin Green Finance Limited is about 41.1%, meaning it keeps roughly 41.1% of revenue as net income. Based on the latest reported figures.
Does Mufin Green Finance Limited pay a dividend?
Mufin Green Finance Limited currently shows a dividend yield of about 0.01% relative to its recent price (as of Aug 22, 2026).
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