NBFC Ascend Capital’s FY26 Profit Up 6X YoY To ₹10 Cr, Revenue Rockets 130%

by · Inc42

SUMMARY

  • Ascend Bizcap’s total income more than doubled to ₹50.3 Cr in FY26, while profit after tax jumped over sixfold to ₹10 Cr, according to ICRA.
  • As more lenders enter India’s EV financing market, Ascend Bizcap’s growth highlights the opportunity in financing underserved commercial EV buyers beyond the traditional urban consumer market.
  • The NBFC’s total managed assets rose 46% YoY to ₹238.6 Cr, although gross NPA increased to 2.6% from 1.7% in FY25.