IPO-bound OfBusiness FY26 revenue falls 7% to Rs 20,645 crore
30 Jul 2026, 06:35 PMThe SoftBank-backed company's net profit, however, rose 21% increase to Rs 724 crore in FY26 from Rs 597 crore in FY25.
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B2B commerce and financing platform OfBusiness reported a 7% fall in revenue to Rs 20,645 crore in the fiscal ended March 31, 2026 from Rs 22,241 crore in the previous financial year.
The SoftBank-backed company's net profit, however, rose 21% increase to Rs 724 crore in FY26 from Rs 597 crore in FY25.
Its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 39% to Rs 769 crore from Rs 575 crore in FY25, with its EBITDA margin improving to 4% from 2.6%.
The company recorded a significant improvement in cash generation, with operating cash flow from the commerce business rising to Rs 1,302 crore in FY26 from Rs 715 crore a year earlier. It turned free cash flow to firm (FCFF) positive for the first time, reporting Rs 390 crore during the fiscal.
Its lending arm, Oxyzo Financial Services, expanded its asset base by 28% year-on-year to Rs 11,800 crore. The subsidiary reported a return on assets of 3.8% and maintained a gross non-performing asset (GNPA) ratio of 0.75%.
Founded in 2015 by Asish Mohapatra, Ruchi Kalra, Bhuvan Gupta, and Vasant Sridhar, OfBusiness is preparing for an initial public offering (IPO). The company had last raised $325 million from Alpha Wave Global, Tiger Global, and SoftBank Vision Fund in 2021 at a $5 billion valuation.
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