Muted topline growth and higher finance costs weigh on performance as agri-value chain platform remains pre-tax profitable during the fiscal year
Chennai-based agri-value chain enabler Samunnati reported flat growth in the fiscal year ended March 2025, while continuing to remain profitable at the pre-tax level, according to its consolidated financial statements filed with the Registrar of Companies (RoC).
The company’s gross revenue stood at ₹2,434 crore in FY25, marginally higher than ₹2,404 crore in FY24, reflecting subdued growth amid a challenging operating environment.
Founded in 2014, Samunnati operates as a specialised agri ecosystem platform, offering both financial and non-financial solutions across the agricultural value chain. The company works closely with farmer-producer organisations (FPOs), agri SMEs, and agri-tech startups, and claims to support over 6,000 farmer collectives, impacting millions of smallholder farmers across India.
Trading business continues to dominate revenue mix
Trading and allied activities remained the backbone of Samunnati’s business, contributing nearly 90% of total gross revenue during the year. Income from this segment stood at ₹2,205 crore in FY25, while the balance was generated from the company’s financing and lending operations.
Rising costs pressure margins
On the expense side, procurement costs continued to account for the largest share of expenditure, forming close to 85% of total expenses. Procurement costs increased to ₹2,084 crore during FY25.
Employee benefit expenses rose 8% year-on-year to ₹76 crore, while the expansion of the lending book led to a sharp rise in finance costs, which surged 42.9% to ₹215.8 crore from ₹151 crore in FY24. Legal, professional, and other overheads further pushed total expenditure to ₹2,463 crore, up from ₹2,434 crore in the previous year.
Pre-tax profit intact; deferred tax pushes net loss
Despite flat revenue growth and rising costs, Samunnati reported earnings before tax (EBT) of ₹5.3 crore in FY25. However, a deferred tax expense of ₹74 crore resulted in a net loss of ₹74 crore for the year.
The company spent nearly ₹1 to earn a rupee of revenue, indicating near break-even unit economics. As of March 2025, Samunnati reported current assets of ₹2,103 crore, including cash and bank balances of ₹308 crore.
Fundraising background
On the capital front, Samunnati closed a $44 million Series E round in May 2024. Prior to that, it had raised $135 million from a mix of domestic and global lenders and investors, including USDFC, Credit Saison, Tata Capital, Poonawalla Fincorp, Hinduja Leyland Finance, Wint Wealth, Alteria Capital, Altifi, and Anicut Capital.
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