Agritech start-up Arya.ag reports four-fold jump in profits in H1FY23
Arya. ag, India’s fastest-growing integrated grain commerce platform, today announced a record-breaking four-fold jump in profits H1FY23 revenues. The company reported a profit of 14.38 crores, an increase over its last year’s base of 3.86 crores. These profits have been driven by a six-fold increase in gross revenues in the same period. The platform has an AUM of over 15000 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. 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. Arya. ag holds the unique distinction of being the only profitable agritech in the country, in a scenario where startups have seen significant burns and reported large losses.
Arya. ag has been able to develop a resilient and scalable model built on profitability. The gross revenues reached INR 622 crore for the half-year fiscal period that ended September 30, 2022, and its gross trade value also increased a phenomenal 5X compared to a year-ago period. The digital lending arm crossed the INR 350 crore mark with negligible NPAs growing at a rate of almost 2X 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 15000 subscribers cumulative for all its three integrated services, namely intelligent warehousing, digital lending, and digital market linkages.
Noteworthy developments for Arya.ag during the period under consideration include:
- Acquiring stake a in computer-vision start-up, Assert AI.
- Acquisition of agriculture data science company, Prakshep.
- Launch of Insta-loan services that enable the farming community to avail loans instantly against their stored commodity at Arya.ag’ intelligent warehouses through tech-led digital linkages.
- Introduction of pioneering Insta-Release services that allow farmers to gain complete control of their farm produce immediately upon repayment of loans.
Anand Chandra, Executive Director and C,o-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 for 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 have 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.