India’s fast-growing healthy snacking market has produced several standout consumer brands over the past decade, and Farmley has emerged as one of its strongest success stories. In FY25, Farmley moved close to the ₹400 crore revenue milestone while maintaining firm control over losses, signaling a decisive shift from high-burn expansion toward disciplined, sustainable growth. This performance places the company among the most financially resilient D2C food startups in the country.
Strong Revenue Growth Defines FY25
Farmley delivered a powerful revenue performance in FY25. The company recorded operating revenue of nearly ₹394 crore, marking a sharp year-on-year increase of more than 70 percent compared to FY24. This growth rate outpaced much of the broader packaged food and FMCG startup ecosystem, which faced cost inflation and demand volatility during the same period.
Several factors powered this surge. Farmley benefited from rising consumer awareness around clean eating, protein-rich snacks, and low-guilt indulgence. The brand positioned itself strongly within this trend by offering makhana-based snacks, dates, trail mixes, seeds, roasted nuts, and value-added dry fruit products. Each category addressed everyday consumption rather than occasional indulgence, which helped Farmley build repeat demand.
The company also expanded its offline footprint aggressively during FY25. While many D2C brands still rely heavily on online channels, Farmley invested deeply in general trade, modern retail, and quick commerce platforms. This strategy unlocked higher volumes and improved brand visibility across Tier 1 and Tier 2 cities.
Losses Remain Controlled Despite Aggressive Scale-Up
Rapid growth often leads to widening losses in consumer startups, but Farmley followed a different trajectory in FY25. The company reduced its net loss to approximately ₹22.5 crore from ₹26.5 crore in the previous year. This improvement came despite heavy investments in distribution, branding, talent, and supply chain expansion.
Farmley achieved this balance through tighter cost discipline and scale efficiencies. The company improved gross margins by optimizing procurement, reducing wastage, and strengthening direct sourcing relationships with farmers and aggregators. It also rationalized marketing spends by shifting focus from performance-heavy digital advertising to retail-led brand visibility and organic demand.
Operating leverage began to play a visible role as revenue scaled. Fixed costs, including warehousing, logistics infrastructure, and central operations, grew at a much slower pace than revenue. As a result, Farmley improved its EBITDA margin, signaling progress toward eventual profitability without sacrificing growth momentum.
Transition from B2B Roots to D2C Leadership
Farmley’s FY25 performance reflected the strength of its long-term transformation strategy. The company originally operated as a B2B dry fruit supplier before pivoting decisively toward the D2C and branded FMCG space. Over the years, Farmley invested in packaging innovation, consumer branding, product differentiation, and distribution depth.
This pivot reached maturity in FY25. Branded products accounted for the majority of revenue, while the company reduced dependency on low-margin commodity trading. Farmley built strong recall in categories like makhana snacks, which it helped popularize among urban Indian consumers as a healthier alternative to chips and fried snacks.
The company also focused on consistent quality and trust, two critical factors in food consumption. Repeat purchase behavior strengthened across both online and offline channels, allowing Farmley to grow revenue without proportionately increasing acquisition costs.
Funding Support Strengthens Balance Sheet
Farmley entered FY25 with strong investor backing, which supported its expansion strategy. The company raised a sizable Series C funding round during the year, led by a global consumer-focused investment firm. This capital infusion strengthened Farmley’s balance sheet and provided sufficient runway for long-term scaling.
Rather than using the funds to chase unsustainable discounts, Farmley deployed capital toward capacity expansion, supply chain modernization, technology upgrades, and deeper retail penetration. The company also invested in leadership hiring across operations, finance, and sales, ensuring professional execution at scale.
This disciplined capital allocation strategy helped Farmley grow faster without increasing financial risk. Investors responded positively to the combination of revenue acceleration and narrowing losses, which remains rare among consumer startups at similar scale.
Offline Expansion Drives Volume Growth
Offline retail played a decisive role in Farmley’s FY25 story. The company expanded its presence across thousands of stores, including supermarkets, convenience outlets, and regional distributors. This expansion improved accessibility and allowed Farmley to compete directly with legacy FMCG brands.
Quick commerce platforms also contributed meaningfully to revenue growth. Farmley positioned its products as everyday snacking essentials, which suited impulse-led, short-delivery formats. Strong unit economics in these channels further supported margin stability.
Unlike many D2C brands that struggle with offline execution, Farmley built a robust distributor-led model supported by demand forecasting, inventory planning, and regional marketing initiatives. This operational depth gave the company a durable competitive advantage.
Product Innovation Supports Premiumization
Farmley continued to invest in product innovation throughout FY25. The company launched new flavors, healthier variants, and convenience-focused packaging formats that appealed to evolving consumer preferences. It also emphasized clean labels, minimal processing, and transparent sourcing, which strengthened brand trust.
Premiumization contributed positively to revenue per unit. Farmley introduced higher-value SKUs that commanded better margins while retaining affordability for mass consumers. This balance allowed the company to grow revenue without diluting its health-focused positioning.
Outlook: Path Toward Profitability
Farmley’s FY25 performance signals a company entering its next growth phase with financial maturity. Revenue approaching ₹400 crore establishes scale credibility, while controlled losses reflect operational discipline. The company now stands at a point where incremental revenue growth can translate more efficiently into profit improvement.
In FY26, Farmley aims to expand manufacturing capacity, deepen exports, and strengthen rural sourcing networks. Management also plans to push toward EBITDA break-even over the medium term while maintaining double-digit growth.
Conclusion
Farmley’s FY25 results tell a compelling story of execution, discipline, and strategic clarity. The company scaled rapidly in a competitive market without losing control over costs. Revenue growth, margin improvement, and investor confidence aligned in a way few consumer startups manage to achieve.
As India’s healthy snacking market continues to expand, Farmley enters the next fiscal year with momentum, credibility, and a clear path forward. The ₹400 crore milestone no longer looks aspirational. It looks inevitable.