Mufin Green Finance Limited · NSE:MUFIN
Mufin Green Finance — Q4 FY2026 Earnings Presentation
19 slides from Mufin Green Finance's earnings presentation, May 25, 2026
Slide 1: Regulation 30 intimation cover letter to exchanges
May 25, 2026 To, To, BSE Limited National Stock Exchange of India Limited P. J. Towers, Dalal Street, Exchange Plaza, Bandra - Kurla Complex, Bandra Fort, Mumbai – 400 001 (East), Mumbai - 400 051 Ref: BSE Scrip Code 542774 Ref: MUFIN Sub: Intimation under Regulation 30 of the SEBI (Listing Obligati
Slide 2: Mufin Green Finance Investor Presentation Q4 & FY26
MUFIN GREEN FINANCE LTD. Financing India's Green Transition INVESTOR PRESENTATION Q4 & Full Year Results | Financial Year 2025–26 NSE & BSE Listed RBI Licensed NBFC New Delhi, India
Slide 3: Disclaimer
Disclaimer Important Notice | Please Read Carefully Before Proceeding General Notice This presentation (“Presentation”) has been prepared by Mufin Green Finance Limited (“MGFL” or the “Company”) solely for informational purposes. The information contained herein is being provided to select recipient
Slide 4: About Mufin Green Finance
About Mufin Green Finance RBI-Registered NBFC | NSE & BSE Listed | Founded 2016 | HQ: New Delhi Mediclaim Financing WHO WE ARE Transforming lump-sum insurance premiums into affordable Mufin Green Finance Limited (MGFL) is India's first listed EV and monthly EMIs, making health protection accessible
Slide 5: Financial Snapshot
Financial Snapshot Q4 FY26 | Q4 FY25 Comparison | Full Year FY2025–26 Metric Q4 FY26 Q4 FY25 FY26 (12M) YoY % AUM (Loan Book) ₹1,541.17 Cr ₹838 Cr ₹1,541.17 Cr +83.8% Total Disbursements ₹699.91 Cr ₹265.39 Cr ₹1,767.59 Cr +163.7% Interest Income ₹63.81 Cr ₹40.21 Cr ₹206.98 Cr +58.7% Net Interest Inc
Slide 6: Mediclaim Financing — Flagship Product ~39% AUM
Mediclaim Financing — Flagship Product ~39% AUM 10+ Insurer Partners Instant Disbursal 18–24% Yield CRISIL A+ (SO) PRODUCT PARAMETERS COMPETITIVE MOAT Average Ticket Size ₹55,000 Embedded at Point of Sale Integrated into 10+ insurer platforms; zero friction for customers Tenure 2 – 36 Months EMI Con
Slide 7: Salary Saathi — ~2% of AUM
Salary Saathi —~2% of AUM 0% Default Risk Salary-Backed EMI 12–20% Yield State Govt MoUs PRODUCT PARAMETERS COMPETITIVE MOAT Average Ticket Size ₹4,00,000 Near-Zero Credit Risk Deduction at source eliminates repayment risk; Govt. Act as collection agent Tenure 1 – 60 Months State Government MoUs Cur
Slide 8: EV & Solar Financing — 30% of AUM
EV & Solar Financing — 30% of AUM PRODUCT PARAMETERS COMPETITIVE MOAT Average Ticket Size For B2B - ₹1.82 crores ; For B2C - ₹1.61 lakh First-Mover Advantage Operating since 2016; deep OEM & dealer relationships across all states Tenure 12 – 48 Months Strong OEM Partnerships Preferred financing part
Slide 9: Other Loans — ~29% of AUM
Other Loans — ~29% of AUM Scalable, Secured & PSL-Aligned | ₹515 Cr+ Disbursed | RBI Priority Sector Eligible | MSME & SME Focused PRODUCT PARAMETERS COMPETITIVE MOAT Loan Ticket Size ₹2,00,000 – ₹20,00,00,000 GST & Banking Data Underwriting Cash flow-based lending using 12-month GST returns & bank
Slide 10: AUM & Disbursement Trends
AUM & Disbursement Trends Consistent quarterly growth Net AUM — Quarterly (₹ Crore) Quarterly Disbursements (₹ Crore) 1800 800 700 1600 1,541 700 1400 600 1200 1,156 1,028 500 1000 944 387 400 360 800 322 300 600 200 400 200 100 0 0 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Gro
Slide 11: Cumulative Disbursements vs Headcount — Operating Leverage
Cumulative Disbursements vs Headcount — Operating Leverage Cumulative Disbursements (₹ Cr) vs Headcount Growth Total Headcount 2000 520 1,768 1800 499 500 1600 1400 480 1200 454 1,068 460 1000 440 800 681 426 420 600 420 400 322 400 200 0 380 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q
Slide 12: Employee Count Growth — Quarterly Trend
Employee Count Growth — Quarterly Trend Decline of 15.83% in 4 quarters | 499 → 420 employees | FY27 Target: 300 Headcount — Quarterly FY26 DEPARTMENT MIX — Q4 FY26 520 Field Operations 40% 499 500 Sales & BD 22% 480 460 454 Credit & Risk 16% 440 426 420 Tech & Analytics 12% 420 400 Finance & Admin
Slide 13: Borrowing Cost — Declining Trend
Borrowing Cost— Declining Trend Credit rating upgrade to ‘A-' driving cost-of-funds reduction Cost of Borrowings — Quarterly Trend (%) KEY DRIVERS OF WACC DECLINE 14 13.80 Rating Upgrade 13.5 BBB → A- (Acuite) Tighter spreads from new lenders 12.97 13 12.79 PSU Co-lending 12.5 Bank of Baroda, Canara
Slide 14: Borrowing Mix — Diversified Liability Franchise
Borrowing Mix — Diversified Liability Franchise ₹1,397.60 Cr Total Borrowings | 40+ Lenders | Diversified by type & tenure Borrowing Mix — FY 2026 BORROWING BREAKDOWN Category Key Lenders Share 10% 20% AU Bank, Capital SFB, Utkarsh SFB, City Union Private Banks 10.41% Bank etc. 15% PSUs State Bank o
Slide 15: Credit Rating Upgrade — Mufin Green Finance
Credit Rating Upgrade — Mufin Green Finance Acuite Rating Journey: BBB → A- | Unlocking better borrowing costs and lender access ACUITE CREDIT RATING JOURNEY FY23 FY24 FY25 FY26 BBB BBB BBB+ A- Outlook: Stable Outlook: Stable Outlook: Stable Outlook: Stable Rating Agency: Acuite | Instrument: Long-t
Slide 16: AUM Mix & Asset Quality
AUM Mix & Asset Quality Diversified portfolio | Credit metrics improving consistently across all verticals AUM Mix — Mar 2026 ASSET QUALITY TREND Metric Q4 FY26 Q3 FY26 Q4 FY25 YoY Trend 29% Gross NPA % 1.94% 2.24% 2.50% ▼ Improving 39% Net NPA % 1.65% 1.91% 2.13% ▼ Improving Provision Coverage 35.9
Slide 17: P&L Summary
P&L Summary Q4 FY26 | Q4 FY25 | Full Year FY2025–26 Particulars (₹ Crore) Q4 FY26 Q4 FY25 YoY % 12M FY26 12M FY25 YoY % Interest Income 63.81 40.21 +58.7% 206.98 159.47 +29.8% Interest Expenses 37.50 22.75 +64.8% 120.05 89.46 +34.2% Net Interest Income (NII) 26.31 17.46 +50.7% 86.93 70.01 +24.2% Ope
Slide 18: Balance Sheet & Key Ratios
Balance Sheet & Key Ratios FY2025–26 vs FY2024–25 | Well-capitalised with CRAR 32.37% vs 15% regulatory minimum YoY Key Ratio Mar 2026 Mar 2025 Commentary Item Mar 2026 (₹ Cr) Mar 2025 (₹ Cr) Growth Healthy; headroom to Loan Book (AUM) 1,541.17 838.44 +83.8% Debt / Equity 2.43× 2.60× scale Well abov
Slide 19: Thank You
Thank You Q4 & 12M FY2025 –26 | MUFIN GREEN FINANCE LIMITED Building India's premier green finance institution — profitably and responsibly. CONNECT WITH OUR INVESTOR RELATIONS TEAM Vishwas Kumar – Investor Relations Manager ir@mufinfinance.com www.mufingreenfinance.com 202, 2nd Floor, Best Sky Towe
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