Bihar-based DeHaat's revenue jumps to Rs 2,675 crore in FY24; losses decline by 34%

Patna-based agritech platform DeHaat recorded strong revenue growth for the fiscal year ending March 2024, achieving a 36% increase in gross revenue. 

The gross revenue, totaling Rs 2,674.8 crore, marks a substantial rise from the Rs 1,965 crore reported in the previous fiscal year (FY23).

As a full-stack agritech marketplace, DeHaat provides farmers with resources such as crop advisory, weather updates, and market prices, while also supporting micro-entrepreneurs through its DeHaat Centers.

Increased focus on agri output sales drives revenue

The primary contributor to DeHaat’s revenue surge was the growth in its agri-output sales, which rose by 49.2% to Rs 2,121.6 crore, accounting for 79.3% of total revenue.

Meanwhile, sales of agri-inputs, such as seeds, fertilizers, and pesticides, saw modest growth of 1.1%, reaching Rs 545.82 crore.

This shift toward higher agri-output sales aligns with DeHaat's expanding business in farm produce aggregation and exports, which have become major revenue drivers for the company.

Reduction in operating losses and improved cost control

DeHaat managed to cut its overall losses by 34% in FY24, reducing them to Rs 244.68 crore from Rs 371 crore in FY23. Cash losses stood at Rs 201.16 crore, down from Rs 285.91 crore the previous year.

The company attributes this improvement to effective control over operating expenses, which were maintained at Rs 498 crore.

Significant costs, however, remain in areas such as traded goods purchases, totaling Rs 2,605.7 crore, and transportation costs, which surged by 76.8% to Rs 89.42 crore.

Focus on margin expansion and future growth

According to founder and CEO Shashank Kumar, DeHaat has seen consistent margin expansion in FY24, thanks to its growing export business, agri-produce processing, and exclusive distribution partnerships for agri inputs.

Looking ahead, Kumar expressed optimism about DeHaat’s future growth trajectory, forecasting a 40% revenue increase for FY25. The startup also anticipates profitability by the fourth quarter of FY25 as it continues to expand its offerings and partnerships.

Since its inception in 2012, DeHaat has raised over $220 million from investors, including Blacksoil, Sofina, RTP Global, Prosus Ventures, FMO, Peak XV Partners, and Temasek Holdings, among others.