OfBusiness Reports Strong Growth in FY26

OfBusiness, a B2B commerce and financing platform heading towards an IPO, announced a noteworthy 21% increase in its profit after tax (PAT) reaching Rs 724 crore in FY26, up from Rs 597 crore in the previous fiscal year. The consolidated revenue for the company reached Rs 20,645 crore.

Commerce Business Performance

The commerce segment of OfBusiness, which encompasses metals, chemicals, apparel, and food processing, generated a revenue of Rs 19,174 crore during the fiscal year. EBITDA saw a significant 39% increase, rising to Rs 769 crore in FY26 from Rs 575 crore in FY25, with the EBITDA margin improving from 2.6% to 4% year-on-year.

Enhanced Cash Generation

OfBusiness has demonstrated a remarkable enhancement in cash generation. Operating cash flow from the commerce division surged to Rs 1,302 crore in FY26, a leap from Rs 715 crore in the previous fiscal. For the first time, the company recorded positive free cash flow to the firm (FCFF), reporting Rs 390 crore for the year.

Financing Arm Expansion

The financing wing, Oxyzo Financial Services, reported an asset base of Rs 11,800 crore in FY26, marking a 28% growth compared to the last fiscal year. The lending sector achieved a return on assets of 3.8% and maintained a gross non-performing asset (GNPA) ratio of 0.75%.

Technological Advancement and User Growth

Founded in 2015 by Asish Mohapatra and Ruchi Kalra, OfBusiness operates a tech-driven platform that provides SMEs with raw material procurement, working capital financing, and tender intelligence solutions. Its tender intelligence platform, BidAssist, has now surpassed 1.5 million business users and aggregates over 50,000 live tenders daily from various authorities and portals across India. The platform employs AI to align tenders with business profiles, assisting users in tracking win rates and competitors during live bids, serving as a customer acquisition channel for both OfBusiness’s commerce and financing activities.

Workforce Growth

The company has expanded its workforce to over 30,000 employees, nearly doubling in size over the past year, primarily driven by the growth of its apparel business in South India.

Future Outlook

Commenting on the achievements, co-founder and CEO Asish Mohapatra noted that the year witnessed significant milestones for the Group, including achieving positive free cash flow to the firm in the commerce segment and surpassing the Rs 10,000 crore AuM mark in lending. He expressed optimism for FY27, highlighting it as a crucial year as returns from previous investments are anticipated to materialise.