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

EntrackrEntrackr · 5m 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.

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AgroStar crosses Rs 850 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 10d ago
AgroStar crosses Rs 850 Cr revenue in FY25; cuts losses
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AgroStar crosses Rs 850 Cr revenue in FY25; cuts losses AgroStar continued its steady growth and crossed Rs 850 crore in operating revenue in the fiscal year ended March 2025. The Pune-based firm also reduced its losses by 56% during the same period. AgroStar’s operating revenue increased by 14.2% to Rs 853 crore in FY25 from Rs 747 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). AgroStar runs a full-stack agritech platform that sells agri-inputs such as seeds, crop protection and nutrition products, while using AI-led and expert advisory to drive farmer engagement and repeat purchases. It also enables limited output linkages through brands such as Kimaye. Revenue from product sales accounted for 97% of operating revenue and rose 14.5% to Rs 827 crore in FY25. Income from services stood at Rs 13 crore, while other operating income also contributed Rs 13 crore during the year which took its total income to Rs 864 crore in FY25. On the spending side, the cost of materials remained the largest expense and accounted for 56% of the expense. To the tune of scale, this cost increased 6% to Rs 567 crore in FY25 from Rs 535 crore in FY24. Transportation costs rose 31% to Rs 145.5 crore, while employee benefit expenses declined marginally to Rs 108 crore. Depreciation expenses fell sharply by 72.3% to Rs 57 crore. Finance costs increased to Rs 36 crore in the period. Overall, AgroStar reduced its total expenses by 7.4% to Rs 1,008 crore in FY25 from Rs 1,089 crore in FY24. With steady revenue growth and cost control measures helped Agrostar to cut its losses by 56% to Rs 143.5 crore in FY25 from Rs 327 crore in FY24. Its ROCE and EBITDA margin stood at -140.48% and -7.15% respectively. On a unit basis, the company spent Rs 1.18 to earn a rupee of operating revenue during the fiscal year, compared to Rs 1.46 in FY24. As of March 2025, AgroStar reported cash and bank balances of Rs 120 crore, while its current assets stood at Rs 437 crore. AgroStar has raised about $186 million to date, including a $30 million round led by Just Climate. Its investors include Aavishkaar India, Bertelsmann, Evolvence India, Chiratae Ventures, and Hero Enterprises. It competes with Ninjacart, DeHaat, and WayCool.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 1y ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
Medial

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

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

EntrackrEntrackr · 6m 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.

Happilo’s topline contracts 15% to Rs 280 Cr in FY25, cuts losses by 93%

EntrackrEntrackr · 22d ago
Happilo’s topline contracts 15% to Rs 280 Cr in FY25, cuts losses by 93%
Medial

Happilo’s Topline Contracts 15% to Rs 280 Cr in FY25, Cuts Losses by 93% Direct-to-consumer (D2C) healthy snacking brand Happilo saw its operating scale fall 15% in the fiscal year ending March 2025. However, the company reduced its losses by 93% and brought them down to under Rs 10 crore after reducing advertising and other miscellaneous costs. Happilo’s revenue from operations fell to Rs 280 crore in FY25 from Rs 329 crore in FY24, according to the annual financial statements of Happy International Pvt Ltd, its parent entity, filed with the Registrar of Companies. Founded in 2016, Happilo sells a range of snacks such as dry fruits, trail mixes, nut protein bars, dates, and muesli through online platforms and its omnichannel network. The sale of these products remained its only source of revenue in FY25. The company also earned Rs 2.5 crore from non-operating sources, which took its total income to Rs 282.5 crore in FY25. For the D2C brand, the procurement cost accounted for 73% of the total expenditure. In the line of scale, this cost decreased 17% to Rs 212.4 crore in the fiscal year ending March 2025 from Rs 257 crore in FY24. Its employee benefit expenses also declined 34% to Rs 15.5 crore in the last fiscal. Meanwhile, Happilo cut its advertising and promotional expenses by 59% to Rs 28.2 crore in FY25 from Rs 69.4 crore in FY24. The company was also the ‘Snacking Partner’ of Royal Challengers Bangalore during the Indian Premier League 2024. The company incurred Rs 7.6 crore on transportation during the year. Other overheads, including traveling, legal and professional, and undisclosed miscellaneous expenses, pushed Happilo’s total expenditure to Rs 292 crore in FY25 from Rs 467.7 crore in FY24. This represented a 38% year-on-year decline, as undisclosed miscellaneous expenses fell sharply to Rs 6.2 crore in FY25 from Rs 46.2 crore in FY24. Despite a 10% decline in revenue, the cost control measurement helped the Bengaluru-based firm to reduce its losses by 93% to Rs 9.5 crore in FY25 from Rs 136.6 crore in FY24. Importantly, Happilo turned EBITDA positive with Rs 3 crore while its ROCE and EBITDA margin improved to -11.54% and 0.89% respectively. On a unit level, the company spent Rs 1.04 to earn a single unit of operating revenue in FY25. Happilo has raised around $38.5 million across two funding rounds. Its latest round came in February 2022, when Motilal Oswal Private Equity invested $25 million. Prior to that, it secured $13.5 million from A91 Partners in February 2021.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 4m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
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Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55%

EntrackrEntrackr · 8d ago
BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55%
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BlissClub posts Rs 130 Cr revenue in FY25; cuts losses by 55% BlissClub has recorded strong growth in FY25, with its revenue from operations surpassing the Rs 130 crore threshold. The firm has also reduced its losses by more than half during the period after a notable cut in employee costs. BlissClub’s revenue from operations grew 51% to Rs 131.5 crore in FY25 from Rs 87 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC). The company specializes in women’s activewear, accessories, and lifestyle products, and the sale of these items remained its sole source of operating revenue. BlissClub also recorded Rs 3.5 crore in non-operating income, taking its total income to Rs 135 crore in FY25. On the cost side, the cost of materials remained the largest expense, rising 38% to Rs 62 crore in FY25 from Rs 45 crore in FY24. Other expenses increased 31% to Rs 29.5 crore, while transportation costs more than doubled to Rs 16 crore during the year. In contrast, employee benefit expenses declined 42% to Rs 18 crore in FY25 from Rs 31 crore in FY24, while legal charges stood at Rs 5 crore during the period. Overall, the company’s total expenses increased 14% to Rs 155.5 crore in FY25 from Rs 136 crore in FY24. As revenue growth outpaced the rise in expenses, BlissClub managed to cut its losses by 54.5% to Rs 20 crore in FY25 from Rs 44 crore in FY24. Its ROCE and EBITDA margins stood at -44.57% and -15.09%, respectively. On a unit basis, the company spent Rs 1.18 to earn a rupee during the fiscal year. BlissClub recorded cash and bank balances of Rs 39 crore in FY25, while its current assets stood at Rs 75 crore. BlissClub has raised around $21.6 million in funding to date, with Elevation Capital as its lead investor. The company competes with brands such as Kica Active, SilverTraq, Cultsport, Cava Athleisure, HRX, Spirit Animal, Playfiks, and Decathlon’s Domyos. BlissClub operates in India’s activewear market alongside brands such as HRX, Decathlon Domyos, and Cultsport. While several players compete across categories, BlissClub has focused on women’s activewear and built its presence through D2C channels and product-led positioning. The company has emerged as one of the faster-growing brands in the segment, with revenue rising over 8X from Rs 15 crore in FY22 to Rs 130 crore in FY25, while maintaining control over expenses. With tighter cost control in FY25, the firm could move closer to breakeven in FY26 if it continues to prioritize disciplined growth over aggressive expansion.

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%

EntrackrEntrackr · 5m ago
Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%
Medial

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28% Used car retailer Spinny posted a steady performance in FY25 with notable top-line growth and narrowing losses. The Gurugram-based company’s revenue from operations jumped 25% year-on-year to Rs 4,657 crore, up from Rs 3,730 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Spinny primarily generates its revenue from used car sales, accounting for 97.7% of its operating income (Rs 4,553 crore) from this segment, marking a 25.7% YoY rise during FY25. The balance came from commissions, support services, and advertising. Beyond operations, the company booked Rs 89 crore in non-operating income from interest on deposits, corporate bonds, mutual fund gains, and fair value adjustments. This pushed its total income to Rs 4,746 crore in FY25 from Rs 3,822 crore in FY24. For the used car retailer, the cost of procuring cars was naturally the largest cost center, accounting for 83.3% of the overall cost. In line with a 25% revenue surge, this cost grew 23% to Rs 4,309 crore in FY25. The firm cut its employee benefits by 13.8% to Rs 338 crore in the said year. Spinny’s direct cost stood at Rs 147 crore while its advertising and promotion costs reduced by 11.3% to Rs 125 crore in FY25. Other overheads, including information technology, legal, travelling, and rent, took the total cost to Rs 5,170 crore in FY25. The decent growth in its revenue helped Spinny to cut down its losses by 28.3% to Rs 423 crore in FY25 from Rs 590 crore in FY24. The company has also improved its per unit expense to revenue ratio in FY25, which was recorded at Rs 1.11. In March this year, the company closed $170 million round this year led by Accel Leaders Fund. According to startup data intelligence platform TheKredible, Spinny has raised around $676 million to date, including investors like Tiger Global, Accel, Elevation Capital, and others. The company expanded its portfolio by acquiring Autocar India, an auto media and car content platform, and started its own NBFC subsidiary.

Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr

EntrackrEntrackr · 6m ago
Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr
Medial

Smytten cuts losses by 41% in FY25; revenue slips to Rs 111 Cr Smytten, a product discovery and trial platform, improved its expense discipline and significantly narrowed losses, but the revenue decline highlights its continuing struggle to achieve sustainable growth in FY25. The company’s revenue from operations declined 10.5% to Rs 111 crore in FY25 from Rs 124 crore in FY24, according to its provisional financial statement sourced from the Registrar of Companies (RoC). Smytten derives its income largely from product trials and allied services for D2C and FMCG brands. The firm also generates ancillary revenues through brand promotions and partnerships. The company did not provide a revenue breakup in its provisional financial statements. On the expense front, the cost of materials, the firm’s largest expense, declined 17% to Rs 58 crore in FY25 from Rs 70 crore in FY24. Employee benefit expenses fell 9% to Rs 20 crore, while details of other overheads, including marketing, tech, and operational costs, were not disclosed. Overall, the company managed to reduce its total expenses by 21% to Rs 131 crore in FY25 from Rs 165 crore in FY24. The sharper control on expenses helped Smytten cut its losses by 41% to Rs 23.5 crore, as compared to Rs 40 crore in FY24. Its ROCE and EBITDA margin stood at -76.92% and -16.92%, respectively. On a per-unit basis, the firm spent Rs 1.18 to earn a rupee of revenue in the last fiscal year. As of March 2025, the Bengaluru-based company reported current assets worth Rs 67 crore, including Rs 20 crore in cash and bank balances. According to TheKredible, Smytten has raised a total of $22 million of funding till date, having Roots Ventures and Fireside Ventures as its lead investors. The company’s co-founders Siddhartha Nangia and Swagata Sarangi together own 39.32% of the company.

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