New Delhi, March 9 (IANS). The loss of Agritech Supply Chain Startup Phalka has increased three times in FY 24 to Rs 15 crore, which was Rs 5 crore in FY 23.
According to Phalka’s financial description, the reason for the loss of the company is to increase the expenditure, which has increased by 30.2 percent to Rs 384 crore during FY 24.
The biggest expense of the company is the purchase of material, which is 94 percent of the total expenditure.
In FY 24, the company’s expenditure on content in FY 24 has increased by 27 percent to Rs 362 crore on an annual basis. Apart from this, the employee spending has doubled to Rs 10 crore.
The financial cost of the company in FY 24 has increased by 50 percent to Rs 3 crore. The other operational cost has been Rs 9 crore.
The company’s abita margin (-) has come down from 1 percent to 3.14 percent due to loss in FY 24.
In FY 24, Phalka has spent Rs 1.04 to earn an income of one rupee. During this period, the company’s cash and bank balance have fallen by 50 percent to Rs 4 crore. The company’s current assets have fallen to Rs 24.5 crore, which was Rs 53.5 crore in FY 23.
In FY 24, Phalka’s gross income has increased by 27.3 percent to Rs 368 crore, which was Rs 289 crore in FY 23.
The company has shown a strong growth in the last five years, due to which GMV has increased by 65 times from Rs 5.6 crore in FY 20 to Rs 368 crore in FY 25.
According to reports, Phalka has so far raised a fund of about $ 3 million, with Kingston Smiler and Inflation Point Ventures its leading investors.
Phalka works through four major products, which addresses various aspects of each agri supply chain.
Suggi offers agri inputs such as seeds and pesticides, while Emperor provides advisory services and market contact. Siri acts as a trading platform for farmers and buyers and provides digital solutions to improve the entire agricultural productivity.
-IANS
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