Agritech startup Falca’s loss triples to Rs 15 crore in FY24 as expenses surge over 30 pc
Bengaluru, March 9 (IANS) Full-stack agritech supply chain startup Falca reported a sharp rise in its net loss for the financial year 2023-24 (FY24) as the company’s net loss widened threefold to Rs 15 crore, compared to Rs 5 crore in the previous fiscal year (FY23).
The primary reason behind mounting losses was the rising expenses, which surged by 30.2 per cent to Rs 384 crore in FY24.
The company’s biggest cost was the procurement of materials, which accounted for 94 per cent of total expenses.
Material costs alone rose by 27 per cent to Rs 362 crore in FY24, in line with the company’s growing scale. Employee benefit expenses doubled to Rs 10 crore, while finance costs increased by 50 per cent to Rs 3 crore. Other operational expenses added another Rs 9 crore for the year.
The company’s EBITDA margin declined from (-)1 per cent in FY23 to (-)3.14 per cent in FY24, indicating further profitability challenges.
On a per-unit basis, Falca spent Rs 1.04 to earn every Rs 1 of revenue. Meanwhile, its cash and bank balances dropped by 50 per cent to Rs 4 crore, and its current assets saw a steep decline from Rs 53.5 crore to Rs 24.5 crore.
According to its consolidated financial statement, the company’s gross revenue rose to Rs 368 crore in FY24, up from Rs 289 crore in FY23.
Over the past five years, the company has shown remarkable growth, with GMV increasing 65 times from Rs 5.6 crore in FY20 to Rs 368 crore in FY25.
According to startup data platform TheKredible, Falca has raised approximately $3 million in funding so far, with Kingston Smiler and Inflection Point Ventures as its lead investors.
Falca operates through four key products, each addressing different aspects of the agricultural supply chain.
Suggi provides agricultural inputs like seeds and pesticides, while Samrat offers advisory services and market linkages. Siri functions as a trading platform for farmers and buyers, and Sampoorna offers digital solutions to improve farm productivity.
The sale of these products and services was the company’s sole source of revenue in FY24.
–IANS
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