Agritech startup DeHaat's revenue up 54.2% in FY23
It registered a total revenue of Rs 1,997 crore in FY23 on the back of higher sales of agricultural products.
Full-stack agritech marketplace's revenue from operations grew 54.2% to Rs 1,965 crore in FY23 compared to Rs 1,274 crore the previous year, according to its annual financial statement from the Registrar of Companies (RoC).
DeHaat's losses narrowed 30% to Rs 1,094 crore from Rs 1,564 crore in FY22. It registered a total revenue of Rs 1,997 crore in FY23 on the back of higher sales of agricultural products.
The company bore a total expense of Rs 3,091.25 crore during the fiscal year ending March 2023.
DeHaat plans to become EBITDA positive in the 2024-25 fiscal, CEO Shashank Kumar had earlier told PTI.
"Our burn at EBITDA (earning before interest, depreciation, tax and amortisation) level was 15% last fiscal and this will come down to 5% in the current fiscal, as margins have improved. We will become EBITDA positive in the 2024-25 fiscal," he said.
Kumar highlighted that the company has doubled its presence across focus geographies from 53 hubs in FY22 to 103 in FY23.
DeHaat is a technology-based platform offering full-stack agricultural services to farmers, including distributing high-quality agricultural inputs, customised farm advisory, access to financial services, and market linkages for selling their produce.
Currently, it serves more than 20 lakh farmers located across 11 states, including Bihar, Uttar Pradesh, Jharkhand, Maharashtra, Madhya Pradesh, Rajasthan, West Bengal, Odisha, Chhattisgarh, and Haryana with its full-stack agri value chain offerings.
As a platform, it has onboarded 2,000+ agri-business institutions, including input manufacturers, FMCG players, banks, insurance partners, and bulk output exporters, offering them direct access to farmers.
DeHaat’s employee benefit cost grew by Rs 237 crore from Rs 110 crore in FY22.
Edited by Affirunisa Kankudti