FY26 Financial Tracker: Tracking The Financial Performance Of Indian Startups

A growing number of startups turned profitable or moved closer to profitability in FY26 after years of cost rationalisation to adjust to the new funding realities

Of the 24 startups in the tracker, 17, or about 70%, reported profits in FY26 generating a cumulative net profit of ₹5,657.3 Cr

The 24 companies generated ₹1.71 Lakh Cr in operating revenue in FY26, a sharp 54% increase from ₹1.11 Lakh Cr in FY25

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The Indian startup ecosystem continued to mature in FY26, with 22 new-age tech companies making their public market debut as against 13 in FY25. At the same time, a growing number of startups turned profitable or moved closer to profitability after years of cost rationalisation to adjust to the new funding realities. 

Despite a tough Q4 for many startups due to geopolitical uncertainties, Indian startups are expected to improve their top and bottom line numbers in FY26.

Of the 24 startups in the tracker, 17, or about 70%, reported profits in FY26. However, the profitability picture remained uneven. Together, these 17 startups generated a net profit of ₹5,657.3 Cr, while the remaining seven posted cumulative losses of ₹8,168.7 Cr, underscoring that sustainable profitability remains a work in progress for a section of the ecosystem.

Even so, the scale of India’s startup ecosystem continued to expand. The 24 companies generated ₹1.71 Lakh Cr in operating revenue in FY26, a sharp 54% increase from ₹1.11 Lakh Cr in FY25.

To help you track the financial health of new-age tech companies, Inc42 has launched the FY26 Financial Tracker, bringing together key financial metrics in one place. The tracker will be updated periodically with the latest financial disclosures and deeper insights into the performance of India’s startup ecosystem.

So, without further ado, here’s a look at how Indian startups fared financially in FY26.

Editor’s Note: This list is not a ranking of any kind, the companies have been placed alphabetically. This is a running list and will be updated periodically.

Inside The FY25 Financials Of Indian Startups

Note: All amount in ₹ Cr

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EV major Ather Energy managed to trim its net loss by 36% to ₹517.2 Cr in FY26 from ₹812.3 Cr in the previous fiscal year. Operating revenue rose 62.8% to ₹3,671.8 Cr from ₹2,255 Cr in FY25.

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