DeHaat Conducts First ESOP Buyback, Aims for Profitability in FY25

Preeti Bali / 7:21 am / June 13, 2024

DeHaat, a prominent player in the Indian agritech sector, has successfully completed its inaugural employee stock ownership plan (ESOP) buyback program. This initiative, valued at Rs 10 crore ($1.2 million), provides wealth creation opportunities for a broad range of employees, from senior vice presidents to field teams.

Investing in its Workforce

Rishu Garg, driving DeHaat’s HR division, featured the meaning of the buyback program. He expressed that north of 153 colleagues across different levels profited from this abundance creating a potential open door. DeHaat’s obligation to its labor force is additionally stressed by the way that they have given ESOPs worth more than Rs 100 crore ($12 million) to in excess of 200 people to date.

A Comprehensive Agritech Solution

DeHaat fills in as a far reaching commercial center for the horticultural area. The organization works with the appropriation of excellent rural information sources, offers master warning administrations, gives monetary loaning choices, and associates ranchers with dependable business sectors to sell their produce.

Strategic Growth Initiatives

DeHaat has recently made significant strides in strengthening its brand presence. Bollywood actor Pankaj Tripathi has been signed as their brand ambassador, while Dr. K V Subbarao, a veteran in the agri industry, has been brought on board as their first independent advisor.

Financial Performance and Future Goals

DeHaat’s financial performance reflects steady growth. Their gross revenue for FY23 witnessed a 54.2% increase, reaching Rs 1,965 crore compared to Rs 1,274 crore in FY22. Furthermore, FY24 saw a 40% rise in operational revenue, reaching Rs 2,700 crore, alongside a commendable 50% reduction in losses. The company is now setting its sights on achieving full-year profitability by the end of FY25.

DeHaat’s funding journey has also been impressive, with the company securing approximately $230 million to date. Startup data platform TheKredible estimates their valuation to be over $705 million.

DeHaat’s successful ESOP buyback program exemplifies the company’s commitment to its employees and its focus on long-term growth. Along with its strategic partnerships and promising financial performance, DeHaat is well-positioned to play a leading role in revolutionizing the Indian agricultural landscape.


More Stories