Ascend Capital FY26 profit rises over 6x to ₹10 crore as income jumps 131%
Jaipur-based EV lender Ascend Capital reported FY26 total income of ₹50.3 crore, up from ₹21.8 crore a year earlier, while AUM grew 46% to ₹238.6 crore. Growth was driven by financing for electric three-wheelers.
What happened
Jaipur-based EV lender Ascend Capital reported FY26 profit of ₹10 crore and income of ₹50.3 crore, supported by expanding electric three-wheeler financing. Its
Key facts
- FY26 profit ₹10 Cr, up 6.25X from ₹1.6 Cr in FY25
- FY26 total income ₹50.3 Cr, up 131% from ₹21.8 Cr
- AUM ₹238.6 Cr, up 46% from ₹163.7 Cr
- 97.5% collection efficiency as of July 2026
- GNPA 2.6% in FY26 versus 1.7% in FY25
What changed
Jaipur-based EV lender Ascend Capital reported FY26 profit of ₹10 crore and income of ₹50.3 crore, supported by expanding electric three-wheeler financing. Its AUM reached ₹238.6 crore as India’s EV market, particularly e-three-wheelers, continued to grow.
Why this matters
Ascend Capital delivered a sharp earnings inflection, with profit rising more than sixfold on 131% income growth and 46% AUM expansion, tempered by GNPA increasing to 2.6%.
What to watch
- Quarterly GNPA, net NPA, write-offs, recovery rates and provisioning coverage.
- AUM growth versus disbursement growth, which will indicate whether expansion remains demand-led or is being pushed through looser underwriting.
- Cost of funds, new debt facilities, capital raises and lender concentration.
- Electric three-wheeler registration growth, subsidy/policy changes and battery or vehicle-price trends.
- Dealer concentration, fleet customer defaults and repossessed-vehicle resale values.
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