Arya.ag's Profits Surge 2.5X as Revenue Hits Rs 340 Crore in FY24

Arya.ag demonstrated strong financial health with an ROCE of 14.87% and an EBITDA margin of 25.3%

by Aishwarya Bhatt · January 6, 2025

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Agritech platform Arya.ag has reported a significant financial milestone in FY24, with profits jumping 2.5 times to Rs 19 crore from Rs 7.6 crore in the previous year. According to its consolidated financial statements filed with the Registrar of Companies, the company's operating revenue grew 18% to reach Rs 340 crore.

The Noida-based grain commerce platform distinguished itself as the first agritech startup to secure two funding rounds in 2024. It maintained profitability in a sector where many companies have struggled to balance growth with financial sustainability.

Storage and warehousing services remained the company's primary revenue driver, contributing Rs 212.8 crore or 62.64% of total operating revenue, marking a 7.5% increase from the previous year. The company saw significant growth in its lending business, with interest income rising 27.2% to Rs 54.4 crore.

On the expenditure side, Arya.ag maintained cost efficiency, with its total expenses increasing by 16% to Rs 330.4 crore. The cost of services, which represented 55.66% of total expenses, grew marginally by 3.1% to Rs 183.9 crore. However, finance expenses substantially increased by 56.3% to Rs 60 crore.

The company demonstrated strong financial health with an ROCE of 14.87% and an EBITDA margin of 25.3%. As of March 2024, Arya.ag reported robust current assets of Rs 1,114 crore, including Rs 103 crore in cash and bank balances.

Having raised $144 million to date, with Lightrock Venture and Aspada Investment Company as lead investors, Arya.ag recently secured a $19.8 million commitment from the United States International Development Finance Corporation for its agri-commerce subsidiary, Aryatech.

The platform connects various stakeholders in the agricultural value chain, including farmers, FPOs, financial institutions, SME processors, traders, and corporate agribusinesses, offering services such as farmgate storage, finance, and year-round supply through its platform and its subsidiary, Aryadhan.