Agritech startup DeHaat has achieved a key milestone by turning EBITDA-level profitable in the first quarter of FY26. The company disclosed this achievement on Tuesday through an official statement and subsequent media reports. Although DeHaat did not reveal exact financial figures, it estimated its EBITDA profit for the quarter at Rs 5–10 crore, reflecting the company’s focused efforts on operational efficiency and revenue optimization.
This marks a significant turning point for the company, which has spent the past few years balancing aggressive expansion with a push toward sustainable profitability. Shashank Kumar, Co-founder and CEO of DeHaat, highlighted that the company’s strategic moves across private label agri-inputs, export expansion, and food processing have contributed to the improved earnings before interest, taxes, depreciation, and amortization (EBITDA).
Revenue Growth and Financial Milestones
DeHaat closed FY25 with consolidated revenue of approximately Rs 3,000 crore, recording an 11 percent year-on-year growth. The company currently maintains an annual revenue run rate (ARR) of Rs 4,000 crore, underscoring its steady expansion across multiple revenue streams.
The revenue trajectory showcases consistent growth:
- FY24 Revenue: Rs 2,700 crore
- FY25 Revenue: Rs 3,000 crore (11% YoY growth)
- FY26 ARR: Rs 4,000 crore
Despite the revenue climb, DeHaat faced challenges in FY24 due to non-cash CCPS (Compulsorily Convertible Preference Shares) fair value adjustments, which inflated its net loss to Rs 1,133 crore. Without the accounting impact, the adjusted loss stood at Rs 225 crore, demonstrating that the core business remained on a path to improvement.
The transition to EBITDA-level profitability in Q1 FY26 now signals a fundamental shift in the company’s financial health. Kumar expressed confidence that the company can achieve full-year profitability in FY26, supported by improved gross margins and cost optimization measures.
Key Drivers of Profitability
Shashank Kumar identified three primary levers that fueled the company’s Q1 profitability:
- High-Margin Private Label Sales
DeHaat has expanded its range of private label agri-input products, including seeds, fertilizers, and crop protection solutions. These products generate higher margins compared to third-party inputs. By offering these through its network of over 8,000 DeHaat Centers, the company strengthened its control over pricing and improved its profit per transaction. - Exclusive Agri-Input Distribution Partnerships
DeHaat signed exclusive partnerships with leading agri-input brands. These arrangements enable the company to distribute inputs to farmers at competitive prices while capturing better margins. The approach also helps consolidate farmer loyalty to the platform, as DeHaat positions itself as a one-stop solution for farm inputs, crop advisory, and post-harvest services. - Expansion in Exports, Storage, and Food Processing
The company’s export business emerged as a major growth engine in FY25, contributing Rs 430 crore in revenue across 32 international markets. For FY26, DeHaat aims to nearly double export revenue to Rs 800 crore, leveraging its growing portfolio of processed and raw agricultural products. In addition, investment in storage facilities and food processing capabilities allowed the company to capture more value in the agri-supply chain. By reducing post-harvest losses and offering processed commodities to domestic and international buyers, DeHaat enhances its margin profile.
Farmer Network and Technological Backbone
Founded in 2012, DeHaat has grown into one of India’s most prominent full-stack agritech platforms, serving over 14 lakh farmers nationwide. The platform provides an integrated ecosystem that combines:
- Agri-input sales for seeds, fertilizers, and crop protection
- AI-driven crop advisory to improve productivity
- Market linkage services to connect farmers with buyers
- Financial services including credit and insurance
The company operates through 8,000 DeHaat Centers, which act as local hubs for farmer engagement. Collectively, these centers cover more than 80,000 hectares of farmland, offering both last-mile connectivity and data-driven insights to optimize farm output.
The technology backbone of DeHaat plays a central role in this ecosystem. The platform uses data analytics, AI-based crop recommendations, and supply chain algorithms to reduce inefficiencies and maximize farm-to-market value.
Capital Strategy and Future Plans
Even as DeHaat edges toward sustainable profitability, the company continues to strengthen its balance sheet. Earlier in FY26, it raised Rs 200 crore in debt from Trifecta Capital. Shashank Kumar confirmed that the company is also exploring additional capital infusion to accelerate growth in exports, storage infrastructure, and private label offerings.
However, DeHaat has no plans to go public in the next two years. The company prefers to consolidate its profitability and expand market share before considering an IPO. Kumar explained that this strategy ensures long-term value creation for stakeholders rather than focusing solely on near-term funding milestones.
Competitive Landscape and Industry Context
India’s agritech industry has evolved rapidly over the past decade, driven by a combination of technology adoption, government initiatives, and private sector investment. Platforms like DeHaat, Ninjacart, and AgroStar aim to bridge critical gaps in the agricultural supply chain, from input procurement to post-harvest market linkage.
DeHaat’s success in achieving EBITDA profitability highlights a maturing trend in agritech: companies are moving from growth-first models to profitability-driven operations. By expanding its export portfolio and private label offerings, DeHaat aligns itself with industry best practices for monetizing rural supply chains.
Outlook for FY26 and Beyond
DeHaat enters FY26 with strong revenue momentum and a clear path to profitability. The company aims to:
- Achieve full-year EBITDA and net profitability
- Double export revenue to Rs 800 crore
- Expand farmer coverage beyond 14 lakh
- Enhance storage and food processing infrastructure
- Grow ARR to sustain Rs 4,000 crore and beyond
The platform’s ability to combine technology, localized service delivery, and high-margin revenue streams positions it as a leading force in India’s agritech sector.
If DeHaat continues to execute its strategy effectively, the company could set a benchmark for sustainable agritech growth in India—a sector that remains critical to the country’s economy and rural livelihoods.
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