Oxyzo FY26 operating revenue rises 23% as profit climbs 11% to Rs 375.5 crore

SME-focused NBFC Oxyzo Financial Services reported a 23% rise in operating revenue to Rs 1,488.8 crore in FY26, while net profit increased 11% to Rs 375.5 crore, according to the company’s consolidated financial statements.

Its operating revenue stood at Rs 1,207.4 crore in FY25. Interest income, which accounted for the bulk of earnings, rose 23% year-on-year to Rs 1,406.8 crore, while fee and commission income increased 13% to Rs 68.1 crore. Including other income, total income stood at Rs 1,493.8 crore.

The growth was supported by the expansion of lending operations and stable asset quality.

The Gurugram-based lender said its total assets grew 28% year-on-year to Rs 11,822 crore, while its loan book expanded to Rs 10,545 crore by the end of March 2026. Asset quality remained stable, with gross non-performing assets (NPA) at 0.74% and net NPA at 0.30%.

Oxyzo reported a return on assets (RoA) of 3.8% and ended the fiscal year with a net worth of Rs 3,327 crore. The company maintained a capital adequacy ratio (CRAR) of 29%, a debt-to-equity ratio of 2.2 times, and a liquidity surplus of more than Rs 950 crore.

The company said it remained well-capitalised and continued to diversify its 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.

Founded in 2016 by Ashish Mohapatra , Bhuvan Gupta, Ruchi Kalra and Vasant Sridhar, Oxyzo provides financing to small and medium-sized businesses in the manufacturing and contracting sectors. The company is also expanding beyond its core lending business as it looks to build a broader financial services platform for SMEs.

On May 20, 2026, Oxyzo announced the acquisition of GoldenPi Technologies and GoldenPi Securities through a share-swap agreement valued at Rs 42.4 crore. The deal is expected to strengthen Oxyzo’s debt capital markets business and expand its fixed-income offerings for retail and high-net-worth investors.

It also launched Oxyzo Credit Fund I (OCF-I), a performing credit fund under its alternative investment platform, and entered the fund management business through a new subsidiary, Oxyzo Investment Manager Private Limited.

Oxyzo appointed former Brookfield executive Munish Dayal as an independent director to its board.

The lender undertook significant restructuring during the year. Its amalgamation scheme involving quick-loans subsidiary Z-First received approval from the National Company Law Tribunal (NCLT) and became effective in March 2026. The company is now pursuing a fast-track merger with the wholly owned subsidiary, which it acquired in 2022.

Oxyzo also stepped up debt fundraising during the fiscal year, issuing non-convertible debentures (NCDs) worth Rs 900 crore, compared with Rs 553 crore in the previous year.

Total expenses rose 31% to Rs 989.2 crore. Finance costs remained the company’s largest expense, increasing 37% to Rs 599.2 crore, while employee benefit expenses climbed 28% to Rs 183.6 crore.

Oxyzo achieved unicorn status after raising $200 million in a Series A funding round led by Alpha Wave and Tiger Global. Meanwhile, parent company OfBusiness has been preparing for a proposed $1 billion IPO, expected to include a combination of fresh shares and an offer-for-sale.