Agritech start-up Arya.ag reports four-fold jump in profits in H1 FY23
The company reported a profit of Rs 14.38 crores, an increase over its last year's base of Rs 3.86 crores. These profits have been driven by a six-fold increase in gross revenues in the same period.
Arya.ag, India’s fastest-growing integrated grain commerce platform, today announced a record-breaking four-fold jump in profits H1 FY23 revenues. The company reported a profit of Rs 14.38 crores, an increase over its last year's base of Rs 3.86 crores. These profits have been driven by a six-fold increase in gross revenues in the same period.
The Arya.ag press release said that the platform had Asset Under Management (AUM) of over Rs 15,000 crores, making it India’s largest grain commerce platform. The increase in profitability can be attributed to its distinct ability to layer multiple services on the same grain of the same customer.
The platform enables the farmer to store her produce immediately after harvest to avoid distress sales. It embeds finance on the same stored grain through its fintech engine, and when prices improve in the post-harvest period, it helps the farmer sell the produce by connecting her to many buyers. It earns revenues at each step, with the cost decreasing at each step. The platform has seen unprecedented profits.
The gross revenues of Arya.ag reached Rs 622 crore for the half-year fiscal period that ended September 30, 2022, and its gross trade value also increased a phenomenal five times compared to a year-ago period. The digital lending arm crossed the Rs 350-crore mark with negligible NPAs growing at a rate of almost double on a yearly comparison. This also makes Arya.ag the largest platform for post-harvest finance.
In terms of subscriber acquisition too, the agritech start-up retained its accelerated momentum to scale it to over 15,000 subscribers cumulative for all its three integrated services, namely intelligent warehousing, digital lending, and digital market linkages.
Anand Chandra, Executive Director and Co-Founder, Arya.ag said, “As India’s largest agritech platform, we have been able to establish unprecedented relevance of our services to the agri ecosystem. By solving the end-to-end needs of our customers through integrated services, we have been able to create a highly scalable and profitable model."
Another of Arya.ag’s unique capabilities has been the tech-led approach towards consolidating and enriching its value proposition to end-users. The start-up is in the advanced stages of introducing the country’s first-of-its-kind public agri blockchain ledger.