Agritech marketplace DeHaat has managed to strike a balance between rapid expansion and improving revenue in FY25. The company crossed a gross merchandise value (GMV) of over Rs 3,000 crore, thanks to a consistent rise in its agri-output segment. This growth helped the platform reduce its net loss by 15%, bringing it down from Rs 245 crore in FY24 to Rs 207 crore in FY25.
As per filings with the Registrar of Companies (RoC), DeHaat’s gross revenue increased by 12.5%, reaching Rs 3,010 crore, compared to Rs 2,675 crore in the previous year. Including interest income and investment gains, the total revenue touched Rs 3,040 crore, signaling steady operations despite market fluctuations.
DeHaat Revenue Growth
A major portion of DeHaat’s earnings came from the sale of agricultural produce, especially spices like red chili, turmeric, cumin, and coriander. Many of these products were marketed under its Farm Plus brand. This agri-output vertical contributed nearly 80% of total revenue, while the remaining 20% came from seeds, pesticides, and fertilizers—collectively known as agri-inputs.
The company also earned Rs 30 crore through interest and investments, showcasing smart treasury management alongside core business growth. DeHaat’s ability to tap both input and output markets has helped create a full-stack model that supports farmers across the supply chain.
Expense Control Improves Margins
Procurement of farm goods remained the highest cost component, accounting for 83% of total expenditure. This expense grew in line with revenue, reaching Rs 2,708 crore in FY25. However, DeHaat successfully brought down employee costs by 15%, signalling better operational discipline.
Spending on marketing, logistics, legal, and administrative overheads collectively pushed overall expenditure to Rs 3,257 crore. Even though the company technically reported a Rs 370 crore net profit, adjustments for non-cash fair value accounting led to the final net loss figure of Rs 207 crore.
Path to Long-Term Profitability
At a unit level, DeHaat spent Rs 1.08 to earn Rs 1 of revenue, indicating a gradual move towards cost efficiency. Its Return on Capital Employed (ROCE) stood at -36%, while the EBITDA margin settled at -5.78%. The company ended the year with Rs 1,149 crore in current assets, including Rs 78 crore in cash reserves, offering a strong liquidity cushion.
In addition to organic growth, DeHaat acquired AgriCentral from Olam Agri earlier this year, strengthening its digital intelligence and farm advisory network. Backed by investors like Peak XV, Prosus, Sofina Ventures, Temasek, and Lightrock, the startup has raised over $230 million to date and holds a valuation of more than $700 million.
Agritech Startups Evolve
DeHaat reflects a broader trend among Agritech startups in India, where companies that once focused purely on farmer services are now pivoting toward consumer-facing supply chains for better revenue visibility. While the sale of grains and spices ensures stable earnings, it comes with thin profit margins, raising concerns among growth-focused investors.
The company is now expected to focus on higher-margin product categories, branding strategies, and value-added offerings to truly achieve sustainable profitability. With competition rising in both online and offline markets, DeHaat will need to innovate beyond commodity trading to secure investor-led exits in the coming years.
DeHaat may not have achieved profitability yet, but by reducing losses, expanding volume, and tightening costs, it has positioned itself one step closer to financial stability. The real challenge now lies in scaling responsibly while unlocking premium revenue streams. The agritech race is intensifying — and DeHaat is still very much in the running.
