HomePosts Tagged "financial results for FY 23-24."

 Company’s Gross margin increased substantially from Rs 19 Crore to Rs 45.10 Crore in FY23-24, marking a compound annual growth rate (CAGR) of 379 per cent from Rs 3.13 Crore in FY 2021-22.

 Ayekart, an agri and food supply chain platform focused on empowering businesses and supporting communities with technology, embedded finance, and value-added services—particularly for FPOs and MSMEs—has announced its robust financial results for FY 2023-24. Since its inception in December 2020, the company has processed over six lakh transactions, onboarded more than 40,000 merchants, and operated in over 220 pin codes across 19 states.

The company’s audited financial performance approved by the board highlights its significant growth, as demonstrated by its strong financials. Gross margin increased substantially from Rs 19 Crore to Rs 45.10 Cr in FY23-24, marking a compound annual growth rate (CAGR) of 379 per cent from Rs 3.13 Crore in FY 2021-22. In FY 2023-24, EBITDA surged to Rs 17.64 Crore, up from Rs 5.97 Cr in FY 2022-23 and Rs 1.02 Crore in FY 2021-22, indicating a CAGR of 415 per cent. Profit Before Tax (PBT) rose from Rs 0.18 Crore in FY 2022-23 to Rs 1.49 Crore in FY 2023-24, while Profit After Tax (PAT) increased from Rs 0.08 Crore in FY 2022-23 to Rs 1.17 Crore in FY 2023-24. The Gross Transaction Value (GTV) for FY 2023-24 reached Rs 1,558 Crore, up from Rs 657 Cr in FY 2022-23.

In the past six months, Ayekart raised Rs 54 Crore in equity, including Rs 45 Crore in primary funding and Rs 9 Crore in secondary funding from venture capital, bolstering its expansion initiatives.

Debarshi Dutta, Co-Founder & CEO, stated, “Our remarkable growth reflects our strong commitment to leveraging technology and forming strategic partnerships that empower businesses across the food and agri value chain. At Ayekart, we provide comprehensive support in capacity-building for farmers and FPOs while creating both backward and forward linkages for manufacturers and processors to enhance market access and operational efficiency. Through our platform, we are focusing on building a robust distribution and retail network to reach the last mile. This integrated approach drives productivity, fosters sustainable growth, and significantly impacts lives and livelihoods.”

 Company’s Gross margin increased substantially from Rs

 Over the past year, company’s revenue has grown 2.7x to Rs 32.26 Crore and PAT has grown 2.76x to Rs 7.08 Crore.

Drone Destination India’s leading Drone-as-a-Service provider and the largest DGCA certified Drone Pilot Training company, today announced its financial results for FY 23-24. Company has posted revenue of Rs 3262.02 Lakhs in FY 23-24. Company’s EBIDTA stood at Rs 1386.39 Lakhs with margin of 41 per cent. Company reported Rs 948.12 Lakhs Profit Before Tax (PBT) with margin of 29 per cent. Profit After Tax (PAT) stood at Rs 708.21 Lakhs in FY23-24.

Chirag Sharma, CEO, Drone Destination said, “Over the past year, our revenue has grown 2.7x to Rs 32.26 Crore and our PAT has grown 2.76x to Rs 7.08 Crore. We have continued to maintain leadership position for Drone Training in India, and we are proud to be part of the Namo Drone Didi scheme, having trained the highest number of Drone Didis in the country. Drone Destination won and successfully executed its first independent drone survey project for Government of Andhra Pradesh Land Records Dept. We also forayed into Agri Drone Services in collaboration with IFFCO and executed over 28,000 Drone Demonstrations under the Viksit Bharat Sankalp Yatra. Drone Destination is on a high-growth trajectory and aims to scale its integrated Service & Training network pan-India.”

Alok Sharma, Chairman, Drone Destination said, “Our vision and business fundamentals aligned with core focus on Drone-based Services & Training has helped us achieve 43 per cent EBIDTA and 22 per cent PAT over the last year. Our on-ground execution capabilities have helped us develop credible associations, as we have recently collaborated with IFFCO for the largest Drone Spray project over 30 lakh acres across 12 states in India. Drone Destination also has a steady pipeline of upcoming projects and partnerships, including Urban Mapping, LIDAR surveys, as well as launch of Drone Soccer in India, an exciting new sport, blending education, technology and recreation.”

Key highlights:

  • Became the first Drone Company to list on NSE Emerge.
  • Trained over 2100 Pilots along with our partner IGRUA Actively participated in the “Namo Drone Didi” scheme and trained more than 600 Namo Drone Didis, nominated by our new client base including large fertilizer and agro-chemical companies such as IFFCO, KRIBHCO, Chambal Fertliser, IPL, Indorama etc.
  • Won and executed our first independent Drone Survey Project from Andhra Pradesh Land Records Department, mapping 1.4 Lakh hectares in the state
  • Forayed into Agri Spray services and deployed close to 200 Drones & Drone Pilots for IFFCO, and covered over 28,000 Gram Panchayats for Agri Spray demonstrations under Viksit Bharat Sankalp Yatra
  • Introduced new “Kickstarter” & “Training Partner” Program to expand training footprint across India

 Over the past year, company’s revenue has