Mufin Green Finance is focusing on profitability-driven expansion while continuing to strengthen its clean mobility and renewable energy financing business. The company’s electric vehicle (EV) and solar financing portfolio reached nearly ₹460 crore by the end of FY26, highlighting its growing role in supporting India’s green transition.
According to the company’s investor presentation, Mufin’s EV and solar financing assets under management (AUM) stood at ₹459 crore as of March 2026. The portfolio includes ₹166 crore from the retail segment and ₹293 crore from the business-to-business (B2B) segment.
The green financing portfolio currently contributes around 30% of Mufin’s overall AUM of ₹1,541 crore. The company provides financing solutions for electric three-wheelers, electric four-wheelers, electric buses, batteries, charging infrastructure, and solar energy systems across India.
Mufin said its EV and solar financing business remains a key part of its green finance strategy, supported by partnerships with major automotive manufacturers, including Tata Motors, Mahindra & Mahindra and Bajaj Auto.
The company highlighted that its approach is shifting toward improving portfolio quality, asset performance, and returns rather than focusing only on rapid volume expansion. Mufin described the segment as a “stable, seasoned book with improving asset quality,” with capital being gradually directed toward higher-growth opportunities.
The company reported collection efficiency of 97.71% and a gross non-performing asset (NPA) level of 1.94% in its EV and solar financing portfolio, indicating improving credit performance. Mufin is also using artificial intelligence-based underwriting and IoT-enabled monitoring systems to strengthen credit evaluation and track financed assets.
During its earnings discussion, Managing Director Kapil Garg said the company continues to receive support from global development finance institutions focused on climate finance. These include Finnfund, Symbiotics, BlueOrchard and U.S. International Development Finance Corporation, which support Mufin’s lending activities in electric mobility and renewable energy.
While digital lending products are expected to become a larger contributor to future growth, Mufin said EV and solar financing will continue to remain central to its mission of enabling wider access to affordable green capital and supporting India’s transition toward clean energy.
Electrify your feed! Click here to join our Whatsapp group and to get the latest updates, expert insights, and innovations driving India’s energy storage revolution.
