Fintech Unicorn Oxyzo’s FY26 Profit Rises 11% To ₹376 Cr

SME-focused NBFC Oxyzo’s net profit for the fiscal year FY26 increased 11% to ₹375.5 Cr from ₹339.2 Cr in the previous fiscal. 

Operating revenue zoomed 23% to ₹1,488.8 Cr from ₹1,207.4 Cr in FY25. In this, interest income increased 23% YoY to ₹1,406.8 Cr while fee and commission income jumped 13% to ₹68.1 Cr. 

Including other income of ₹5 Cr, the company’s total income stood at ₹1,493.8 Cr. 

In a statement, the financial services arm of OfBusiness said that its total assets grew 28% YoY to ₹11,822 Cr. The startup said its loan book grew to ₹10,545 Cr, with a gross NPA of 0.74% and net NPA of 0.30% at the end of the year. 

Oxyzo said it remained well capitalised in FY26, reporting a net worth of ₹3,327 Cr and a capital adequacy ratio (CRAR) of 29% at the end of March 2026. Its debt-to-equity ratio stood at 2.2X during the period.

The NBFC also said it maintained a diversified borrowing profile across banks, NBFCs and capital market instruments. Its lending partners include State Bank of India, Federal Bank, IndusInd Bank, IDFC FIRST Bank, Axis Bank, Kotak Mahindra Bank and SIDBI, among others.

It ended FY26 with a liquidity surplus of more than ₹950 Cr.

Founded in 2016 by Ashish Mohapatra, Bhuvan Gupta, Ruchi Kalra and Vasant Sridhar as the lending platform of OfBusiness, Oxyzo provides loans to SMEs in the manufacturing and contracting sectors. Beyond core lending, Oxyzo is now aspiring to build a comprehensive financial ecosystem for its SME customers. 

Earlier this month, the NBFC’s board approved the acquisition of debt investment and bond distribution platform GoldenPi Technologies and its wholly owned subsidiary GoldenPi Securities via a share-swap agreement for a deal value of ₹42.4 Cr.

Besides the aforementioned acquisition, Oxyzo also undertook a significant internal restructuring during FY26. Its scheme involving amalgamation with a quick loans subsidiary, Z-First, received NCLT approval and became effective in March 2026.

Oxyzo is now further simplifying its structure further through a proposed fast-track merger with its wholly owned subsidiary Z-First. It acquired Z-First in 2022.

Further, the startup scaled its debt fundraising during the fiscal. Oxyzo issued NCDs worth ₹900 Cr in FY26, significantly higher than ₹553 Cr raised in the previous fiscal.

Where Did Oxyzo Spend?

The NBFC’s total expenses for the fiscal increased 31% YoY to ₹989.2 Cr. Here’s a breakdown of its biggest spends: 

Finance Cost: This was the biggest expense for the startup in FY26, jumping 37% to ₹599.2 Cr from ₹438.9 Cr in the previous year. 

Employee Benefit Expenses: Employee costs stood at ₹183.6 Cr during the year under review, an increase of 28% from ₹143.1 Cr in FY25. 

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