Agritech Startup DeHaat Revenue Grows 55% to Rs 1,997 Cr

The startup, specializing in comprehensive agricultural services, reported a 55% revenue increase to almost Rs 2,000 crore in the 2022-23 fiscal year, with over 98% stemming from agricultural product sales.

DeHaat, a full-stack agritech platform, has achieved strong revenue growth in the last fiscal. Its revenue grew 55% year-on-year to Rs 1,997 crore in FY23, driven by higher sales of agricultural products. Operating from Patna, Bihar, and Gurugram, Haryana, the company had registered revenue of Rs 1,287 crore in the 2022-23 fiscal year.

The company offers end-to-end agricultural services to farmers, including the sale of agricultural products, inputs, and advisory services. More than 98% of its revenue came from the sale of agricultural products in FY23.

DeHaat's CEO, Shashank Kumar, emphasized the startup's comprehensive agricultural services for farmers. Notably, revenue from agricultural product sales surged by 54% to Rs 1,965 crore in the last fiscal year, up from Rs 1,274 crore in FY22.

Additionally, Kumar highlighted that the EBITDA burn rate, which stood at 15% in the previous fiscal year, is anticipated to drop to 5% in the current fiscal year, thanks to enhanced margins. The company is on track to achieve EBITDA positivity by the 2024-25 fiscal year.

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DeHaat expanded its footprint significantly, doubling its presence across focus geographies from 53 hubs in FY22 to 103 in FY23. The company also maintained its growth momentum by adding over a million farmers to its platform, establishing more than 5,000 new DeHaat Centers, and diversifying into new input product categories and business verticals, including B2B exports and DeHaat Honest Farms.

DeHaat is aiming to achieve EBITDA profitability in FY25. The company's operating expenses increased 60% year-on-year to Rs 2,368 crore in FY23, with purchases of traded commodities accounting for 78% of total expenses. It is a key indicator of a company's operational efficiency and financial health.

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DeHaat's focus on EBITDA profitability is a positive sign for the company and the agritech sector as a whole. It shows that the company is committed to building a sustainable business model.

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