Mufin Green Finance Limited (MUFIN.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-527.5%

-₹587.33

vs ₹137.40 price

Levered DCF

-₹5,346.85

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	58.15×	58.21×	132.9×	231.9×	160.12×	87.91×	-286.17×	640.48×
P/B	2.86×	4.33×	8.75×	12.29×	17.16×	19.22×	24.62×	22.66×
P/S	7.8×	6.57×	23.65×	57.08×	114.32×	317.61×	1,514.05×	1,244.23×
EV / EBITDA	69.49×	59.79×	112.19×	162.01×	135.13×	77.24×	-263.22×	548.88×
Gross margin	40.5%	26.3%	32.7%	57.6%	97.7%	92.5%	81.9%	98.5%
Operating margin	21.4%	15.6%	19.7%	37.4%	84.4%	401.6%	-576.7%	226.2%
Net margin	13.4%	10.8%	17.8%	24.5%	71.3%	361.9%	-529.9%	195.0%
Current ratio	0×	1,183.51×	1.62×	2.78×	919.65×	333.5×	2.29×	454.01×
Debt / equity	2.43×	2.65×	2.62×	1.24×	0×	0×	0.15×	0×
Interest coverage	0×	40.19×	41.51×	26.12×	112.09×	2,791.37×	-885.73×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	5.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.9%	7.1%	6.6%	5.3%	10.7%	21.9%	-8.6%	3.6%
Return on invested capital	1.7%	2.0%	1.5%	2.4%	10.8%	21.0%	-7.5%	3.5%
Return on assets	1.4%	1.9%	1.7%	2.1%	10.6%	21.4%	-7.5%	3.5%
Free cash flow yield	-1.0%	-13.1%	-16.9%	-9.3%	-3.4%	0.1%	-0.7%	0.2%
Earnings yield	1.7%	1.6%	0.8%	0.4%	0.6%	1.1%	-0.4%	0.2%
Enterprise value	₹28.2B	₹17.9B	₹26.9B	₹20.6B	₹17.3B	₹17.4B	₹17.5B	₹17.4B
Net debt / EBITDA	29.03×	20.78×	23.06×	13.66×	-0.72×	-0×	-1.49×	-1.13×
Cash conversion cycle (days)	0	1,721	1,296	1,875	1,522	25	202	76