’s FY24 net revenue up 20% at ₹360 cr, PBT up 36% at 17 cr

Grain commerce platform has clocked a 20 per cent growth in net revenue at ₹360 crore for the financial year ended March 2024 compared with ₹299 crore in the previous fiscal. The gross revenues doubled to ₹4,150 crore over ₹2,016 crore in 2022-23.

The company reported a 36 per cent growth in profit before tax at ₹17 crore over previous year. This translates to a net margin of 4.7 per cent, factoring in all expenses, including interest, taxes and depreciation. “During this year, ₹22,796 crore worth of commodities came onto the platform and total disbursements of ₹12,895 crore were made with almost nil NPAs. And a total commerce of ₹4,523 crore was facilitated on the platform,” said Prasanna Rao, co-founder and CEO, is looking to raise $60 million this year as it gears up to deepen its presence in States such as Rajasthan, Uttar Pradesh, Madhya Pradesh, Telangana and Andhra Pradesh, Rao said. The company has so far raised ₹485.78 crore since December 2016.

Strengthening linkage

“We will strengthen the linkage of farmers and markets using technology, further our satellite monitoring capabilities and empower farmers to make informed decisions. Given the climate-induced stress in agriculture, we will work with farmers, FPOs and ‘climate champions’ to build trust, optimise resource allocation and minimise adverse environmental impacts. We will continue to work on our blockchain offerings, AI and deeptech vision to achieve unprecedented visibility, transparency, and assurance across the agri-value chain,” he added.

For financial year 2024-25, the company is eyeing a net revenue of ₹500 crore, Rao said. operates across 425 districts in 21 States, handling about $2.5 billion worth of grains through a network of some 11,000 warehouses. “We have expanded our share of customer spending by increasing our take rate by 10 per cent in the last year. Our improving financial metrics reveal a successful strategy that has boosted market penetration,” he said.

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