NBFC Oxyzo Financial Services closed FY26 with another year of steady growth, showing stronger revenue, higher profit, expanding assets under management and controlled asset quality.
Oxyzo Financial Services founded by Ruchi Kalra and Asish Mohapatra has ended FY26 on a stronger financial footing, with operating revenue rising 23% year-on-year to Rs 1,494 crore from Rs 1,207 crore in FY25. The company had already grown revenue by 34% in the previous fiscal, making FY26 another year of continued momentum for the lending-focused financial services firm.
Profit After Tax (PAT) also registered an increase but at a lower rate than that registered by the company’s revenues. For the year ended in FY26, the company made a PAT of Rs 375 crores, which represents a 10 percent increase from Rs 340 crores achieved in FY25. This reflects a company that continues to grow its loan portfolio while being profitable.
Lending book grows, asset quality stays stable
Oxyzo’s assets under management grew 28% year-on-year to Rs 11,822 crore as of March 2026. Its loan book expanded to Rs 10,545 crore, reflecting the company’s continued push in financing for SMEs and corporates.
What stands out is that the growth has not come with a visible deterioration in asset quality. The company reported gross NPA of 0.74% and net NPA of 0.3%, both relatively controlled for a lender operating in the business-credit segment.
The company also reported a return on assets of 3.8% and ended the fiscal year with a net worth of Rs 3,327 crore. Its capital adequacy ratio stood at 29%, while liquidity surplus remained above Rs 950 crore.
A wider financial services play
Oxyzo is not limiting itself to lending alone. The company has been widening its presence across the SME and corporate financial services ecosystem. It recently acquired wealth-tech platform GoldenPi to expand its debt capital markets business.
The company has also launched Oxyzo Credit Fund I, a performing credit fund under its alternative investment platform, and entered the fund management business through Oxyzo Investment Manager Private Limited.
In another governance-linked move, Oxyzo appointed former Brookfield executive Munish Dayal as an independent director.
Borrowing base and capital position
Oxyzo has diversified its borrowing profile across banks, NBFCs and capital market instruments. Its lending and banking relationships include State Bank of India, Federal Bank, Axis Bank, Kotak Mahindra Bank and SIDBI, among others.
For a lending business, this matters because access to multiple borrowing channels can support future loan-book expansion while reducing dependence on a single funding source. Oxyzo’s reported CRAR of 29% and liquidity surplus of more than Rs 950 crore also show that the company entered the new fiscal with a sizeable capital and liquidity cushion.
Unicorn journey and OfBusiness IPO context
Oxyzo had earlier attained unicorn status after raising $200 million in its Series A funding round led by Alpha Wave and Tiger Global.
Its parent, OfBusiness, is preparing for a $1 billion IPO, expected to include a mix of fresh issue and offer-for-sale components. Against that backdrop, Oxyzo’s FY26 performance gives the group another profitable and scaled-up financial services vertical at a time when public market investors are likely to examine growth quality, governance and capital efficiency closely.
Oxyzo’s FY26 numbers show a company trying to balance three things at once: higher revenue, a growing loan book and disciplined risk metrics. Revenue growth remained healthy at 23%, profit improved to Rs 375 crore, AUM crossed Rs 11,800 crore, and asset quality indicators stayed under control.
For India’s SME-credit market, where demand for working capital and structured finance remains significant, Oxyzo’s performance strengthens its position as one of the more closely watched players in the digital lending and B2B finance space.
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