After rallying 1600% in 3 years, multibagger stock approves 2:1 stock split

The company said in a stock exchange filing that “Board approved the proposal of Sub-Division/ Split of existing 1 (One) Equity Share of face value of Rs. 2/- (Rupees Two Only) each fully paid up into 2 (Two) Equity Shares of Rs. 1/- (Rupees One Only) each fully paid up, subject to the approval of the Members of the Company and other authorities, if required.”

To encourage wider participation of small investors and retail investors by making the equity shares more affordable for them and to enhance the liquidity of equity shares of the company in the stock markets, the Board of Directors of Mufin Green Finance cited the reason behind the stock split.

The expected time of completion of the above corporate action is approximately 3 months from the date of receipt of approval of the members of the company, according to Mufin Green Finance.

While announcing its Q3FY23 earnings on February 14, 2023, Mufin Green Finance said in a stock exchange filing that the Board has approved the allotment of 11,63,550 debentures at a coupon rate of 11.2% secured Non-Convertible Debentures of face value Rs. 500/- each, at par, aggregating Rs. 58,17,75,000/- on private placement basis.

In Q3FY23, the company reported net revenue from operations of ₹10.65 Cr, up by 526.47% YoY from ₹1.70 Cr in Q3FY22. The company’s net expenses reached ₹7.74 Cr in the quarter ended December 2022 compared to ₹0.15 Cr recorded in the quarter ended December 2021, representing a YoY growth of 5,060% YoY. The company posted a profit before tax (PBT) of ₹2.93 Cr in Q3FY23 compared to ₹1.55 Cr in the year-ago quarter, representing a YoY growth of 89.03% YoY, whereas Mufin Green Finance recorded a net profit of ₹2.29 crore in Q3FY23, up by 288.13% YoY from ₹0.59 Cr recorded in the year-ago quarter. The EPS of Mufin Green Finance stood at ₹0.92 in Q3FY23 compared to ₹0.28 in Q3FY22.

On Friday the shares of Mufin Green Finance closed on the BSE at ₹258.90 apiece, down by 1.39% from the previous close of ₹262.55. The stock price climbed from ₹18.95 to the current market price during the past five years, resulting in a multibagger return of 1,076.82%. The stock price soared from ₹16.50 to the current market price over the past three years, producing a multibagger return of 1,614.57%. The stock price jumped from ₹59.85 to the current market price during the course of the past year, resulting in a multibagger return of 344.85%. The stock has appreciated 10.97% YTD in 2023 despite gaining 78.62% over the previous six months. The stock touched a 52-week-high of ₹286.80 on (25/01/2023) and a 52-week-low of ₹48.35 (02/03/2022). During Q3FY23, the company recorded a promoter shareholding of 58.18% and a public stake of 41.82%.