Mufin Green Finance posts 39% profit jump in FY26 as Q4 accelerates, NPAs shrink
The micro-cap NBFC reported revenue of ₹210.4 cr and net profit of ₹28.3 cr, with net NPA falling to 1.65% and net worth doubling to ₹571 cr.
— 1 earlier story on Mufin Green Finance Ltd. →What's new with Mufin Green Finance Ltd.
- Q4 net profit more than doubled to ₹11.1 cr from ₹3.9 cr a year ago.
- Gross NPA ratio improved to 1.94% from 2.49%; net NPA to 1.65%.
- Net worth doubled to ₹571.2 cr after preferential allotment.
Why this matters for Mufin Green Finance Ltd.
Strong growth with improving asset quality and capital adequacy suggests the company is scaling efficiently. The Q4 acceleration is particularly noteworthy for a micro-cap NBFC. However, maintaining this trajectory will require disciplined underwriting as the loan book grows.
What we're watching
- Whether the growth momentum continues into FY27.
- How asset quality holds as the book expands.
- Any further capital raises given the doubled net worth.
The full read
Mufin Green Finance delivered a strong FY26, with standalone revenue up 30.7% to ₹210.4 crore and net profit up 39.3% to ₹28.3 crore, driven by a sharp fourth quarter where profit tripled to ₹11.1 crore. Asset quality improved meaningfully, with gross NPAs falling from 2.49% to 1.94% and net NPAs from 2.12% to 1.65%. The balance sheet strengthened further: net worth more than doubled to ₹571.2 crore following a preferential allotment, and the capital adequacy ratio stood at 32.37% — far above regulatory minimum. The unmodified audit opinion adds credibility. For a micro-cap NBFC, these numbers show a company that is scaling rapidly without sacrificing loan quality. The key challenge now is sustaining this performance as the loan book grows and competition in the green finance space intensifies.