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DeHaat cuts losses by 15% to Rs 207 Cr in FY25

EntrackrEntrackr · 12d ago
DeHaat cuts losses by 15% to Rs 207 Cr in FY25
Medial

Fintrackr All Stories DeHaat cuts losses by 15% to Rs 207 Cr in FY25 Full-stack agritech marketplace DeHaat has crossed the Rs 3,000 crore gross merchandise value (GMV) in FY25, riding on a steady uptick in its agri-output business. The growth also helped the company narrow its losses by 15% during the fiscal year ended March 2025. According to its consolidated annual financial statements filed with the Registrar of Companies (RoC), DeHaat’s gross revenue grew 12.5% to Rs 3,010 crore in FY25, up from Rs 2,675 crore in FY24. The bulk of DeHaat’s earnings came from the sale of agri-outputs, including spices such as red chili, turmeric, cumin, and coriander, marketed under its in-house brand Farm Plus. This vertical contributed close to 80% of its overall revenue, while the sale of seeds, fertilizers, and pesticides (agri-inputs) accounted for the remaining share. DeHaat also earned Rs 30 crore from interest on deposits and gains on investments, pushing its total revenue to Rs 3,040 crore in FY25 against Rs 2,720 crore in FY24. On the expense side, procurement of agri materials remained the largest cost driver, forming 83% of overall expenditure. This cost went up by 11% to Rs 2,708 crore in FY25, in line with the company’s scale. The agritech firm also trimmed its employee benefit expenses by 15% during the year, while spending on promotions, branding, freight, legal, and other overheads took the total expenditure to Rs 3,257 crore in FY25. Caveat: We have not considered the income and expense of Rs 576 crore and Rs 888 crore from fair value adjustment of preference shares in both FY25 and FY24 due to their non-cash nature. As per the filings, DeHaat reported a net profit of Rs 370 crore in FY25. However, after accounting for the fair value adjustments, the firm ended the fiscal year with a net loss of Rs 207 crore, an improvement over the Rs 245 crore loss it posted in FY24. At the unit level, DeHaat spent Rs 1.08 to earn a rupee of revenue in FY25. Its ROCE and EBITDA margin stood at -36% and -5.78%, respectively. The company closed the year with total current assets of Rs 1,149 crore, including Rs 78 crore in cash and bank balances. Earlier this year, DeHaat acquired AgriCentral from Olam Agri in an all-cash transaction. According to startup data platform TheKredible, the agritech firm has raised $230 million to date and is valued at over $700 million. The company counts Peak XV, Prosus, Sofina Ventures, Lightrock, RTP Global, and Temasek, among others, as its investors. The numbers tell the story of a firm on the verge of sustainable profits, but not the arduous route it has had to take to get there. Dehaat’s mainstay now, of selling spices and staples including lentils, is a business capable of delivering steady, but low margin growth at best. That will not thrill investors looking for a bigger breakthrough in the agritech space from the firm. Like many other firms that started off with a model closer to farmers than consumers, Dehaat has also found itself veering towards the latter to make the numbers add up. A higher share of e-commerce also doesn't bode well for long-term margins. Dehaat needs to pull out a higher margin and sustainable win soon to provide an exit that delivers for its investors.

Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable

EntrackrEntrackr · 1m ago
Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable
Medial

Exclusive All Stories Exclusive: BigHaat crosses Rs 1,100 Cr revenue in FY25; turns EBITDA profitable Full-stack agritech platform BigHaat Agro posted a flat scale with single-digit year-on-year growth in the fiscal year ending March 2025. However, the Bengaluru-based company managed to narrow its losses by over 25% during the last fiscal year. According to its co-founder Sateesh Nukala, BigHaat has crossed the Rs 1,100 crore revenue threshold in FY25 from Rs 1,050 crore in FY24. BigHaat’s revenue split consists of 85% of revenue coming from farm produce sales, with agri-inputs, which is direct to farmers, and digital only contributing 15%. The platform now counts 3 million monthly active farmers and reported 15% gross margins in FY25, said Nukala in an interaction with Entrackr. Nukala highlighted that exports and advanced processing, a high-margin vertical launched in FY25, now contribute 20% to its monthly revenue. “We have reduced our net loss to Rs 25 crore in FY25 from Rs 35 crore in FY24 and turned EBITDA positive for the last three quarters,” said Nukala. He also added that BigHaat is among the few agritech startups to achieve profitability at scale with 6x revenue-to-capital efficiency. As per Nukala, the company is targeting Rs 1,400 crore in FY26, with spices emerging as a key growth driver. “We are also open to acquisitions of new brands to strengthen our portfolio,” he emphasized. BigHaat has raised around $25 million to date. In January 2022, it raised Rs 100 crore led by JM Financial. Beyond Next Ventures, Ashish Kacholia, Ankur Capital, and others are some notable investors for the firm. This contrasts with larger peers. DeHaat, India’s most valued agritech startup, clocked Rs 2,675 crore revenue in FY24 but with losses of over Rs 240 crore. Ninjacart, backed by Walmart and Flipkart, crossed Rs 2,000 crore revenue in the same fiscal but recorded a Rs 259.6 crore loss. By combining steady topline growth, improving margins, and sustained EBITDA profitability, BigHaat is positioning itself as one of the few agritech ventures balancing scale with financial discipline, while many peers continue to burn capital at larger scales.

Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25

EntrackrEntrackr · 1m ago
Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25
Medial

Exclusive: Biryani Blues losses down by over 30% in 11 months of FY25 Quick service restaurant (QSR) chain Biryani Blues reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25), while narrowing losses by over 30%. Quick service restaurant (QSR) chain Biryani Blues claimed to have hit the Rs 85 crore revenue threshold in the fiscal year ending March 2025. The company appears to be on track, as it reported Rs 76.23 crore in revenue during the 11-month period (Apr–Feb FY25). On a year-on-year basis, the company barely managed double-digit growth in FY25 (11 M FY25), having posted Rs 76.15 crore in revenue in FY24. The FY25 figures are provisional financial statements sourced from filings. Biryani Blues is a QSR chain specializing in biryani. It also offers starters, desserts, and beverages, served through online delivery, dine-in, and take-away outlets. While a detailed revenue breakup has not been disclosed, most of its earnings are likely driven by the sale of these items. The Gurugram-based company also earned Rs 60 lacs of non-operating income, which took the company's total revenue to Rs 76.83 crore. For the biryani brand, the cost of procurement of materials accounted for 27.35% of total expenses at Rs 22.47 crore, which remained flat compared to the previous fiscal. Employee benefit expenses also stayed nearly unchanged at Rs 14.91 crore during the last fiscal year (Apr–Feb FY25). Importantly, the firm’s finance cost surged over 60% to Rs 6 crore. While a detailed expense breakdown was not provided, total expenses declined marginally by 3% to Rs 82.17 crore. The QSR brand’s controlled cost mechanism helped it reduce the losses by over 30% to Rs 5.34 crore in 11M FY25, compared to Rs 8.14 crore in the previous fiscal year. The company’s EBITDA declined 25% but remained positive at Rs 7.25 crore during the 11 months period. These figures are provisional, as the March numbers are yet to be accounted for and may lead to a slight increase. The Rebel Foods-backed company spent Rs 1.08 to earn a rupee in the above-stated period. Its current assets were recorded at Rs 8.57 crore till Feb 25, including cash and bank balances of Rs 1.09 crore. The company has raised over Rs 100 crore ($13.5 million) till date including $5 million raised in May 2025 led by Yugadi Capital, as per TheKredible.

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