Agritech start-up DeHaat has announced a 40% increase in its operating revenue to Rs 2,700 crore for the Financial Year 2024. DeHaat also said that it has reduced its losses by almost half.
In the FY 2022-23, the company reported a revenue of Rs 1,996.9 crore and a net loss of Rs 1,094.4 crore. For FY22, revenue was Rs 1,287.6 crore with a net loss of Rs 1,564.1 crore.
The agriculture focused company credited its continued top-line growth to operating leverage and a greater focus on profitability through high-margin ventures such as exporting sustainable farm produce, food processing, and selling biological agricultural inputs.
DeHaat aims to achieve full-year profitability in FY25. Additionally, the Patna-headquartered firm has launched its first-ever employee stock ownership plan (ESOP) buyback program worth Rs 10 crore, issuing ESOPs to over 200 individuals.
“DeHaat’s consistent growth and unparalleled performance in empowering Indian farmers for over a decade has been possible only because of our team’s commitment and efforts. The ESOP buyback program demonstrates our dedication to our employees, and we are pleased to create wealth generation opportunities and foster a culture of growth within the firm,” said co-founder and CEO Shashank Kumar.
Founded in 2012 by Shashank Kumar, Amrendra Singh, Adarsh Srivastav, Shyam Sundar Singh, and Abhishek Dokania, DeHaat offers a range of services to farmers, including direct market access, quality inputs, and expert agricultural advisory.
The company operates in 12 agrarian states across India, with a network of over 11,000 DeHaat Centers and 503 farmer producer organizations (FPOs), serving more than 1.8 million farmers.
DeHaat has also successfully concluded its first employee stock ownership plan (ESOP) buyback program, valued at Rs 10 crore ($1.2 million). This marks the company’s inaugural ESOP buyback initiative. To date, DeHaat, based in Patna and Gurugram, has distributed ESOPs worth over Rs 100 crore ($12 million) to more than 200 employees.
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