SoftBank-backed OfBusiness delivered a 21% net profit jump to ₹724 crore for FY26, demonstrating strong operational efficiency despite facing headwinds. According to latest reports, the company's revenue declined 7% to ₹20,645 crore during the fiscal year, but this decline was offset by improved margins and operational focus. The company achieved free cash flow to firm positive status in its commerce business with ₹390 crore in FY26, while operating cash flow for the commerce segment rose to ₹1,302 crore from ₹715 crore a year earlier. The company's consolidated net worth stood at ₹10,300 crore, including retained earnings of ₹3,000 crore accumulated since inception, with current liquidity of over ₹2,000 crore.
The commerce business, spanning metals, chemicals, apparel and food processing, reported revenue of ₹19,174 crore, remaining flat year-on-year after adjusting for discontinued operations. As reported by multiple sources, the segment achieved Ebitda of ₹769 crore, up 34% from ₹575 crore in FY25, with Ebitda margin expanding significantly from 2.6% to 4.0% over the year. This improvement was driven by deeper manufacturing integration and discontinuation of low-return sub-categories, with the company focusing on better margins through strategic product portfolio optimization.
The group's financing arm, Oxyzo Financial Services, closed FY26 with an asset base of ₹11,822 crore, up 28% year-on-year, achieving a return on assets of 3.8% and maintaining gross non-performing assets at just 0.75%. According to latest reports, the results are after exceptional items of ₹21 crore and employee stock option plan costs of ₹15 crore. The company's business users on its tender intelligence platform BidAssist crossed 1.5 million, with the platform aggregating over 50,000 live tenders a day and indexing more than 55 million tenders to date.
In a significant milestone, OfBusiness became a public company in early 2025, marking its transition to a listed entity. However, the company's valuation has declined from $5 billion in 2021 to $4 billion in 2024, reflecting market conditions and business evolution. Despite this valuation pressure, the company continues to focus on generating higher operating cash flows and sharp execution on investments underway, with CEO Asish Mohapatra emphasizing that FY27 is expected to be a pivotal year as returns from prior investments play out.
