Nutrifresh Solidifies Leadership in Agritech with Stellar FY25 Financials
Agritech startup Nutrifresh Farms has announced a robust financial performance for the fiscal year 2024–25 (FY25), achieving a Profit After Tax (PAT) of ₹14 crore on a total operating revenue of ₹145 crore. This marks a significant 50% year-on-year growth in operating revenue and a 55% jump in operating profit, firmly placing the Pune-based company in a solid position to lead India's shift toward sustainable and tech-enabled agriculture.
The company's success is a testament to its operational efficiency and its pioneering use of technology in the agricultural sector.
Company History and Mission
Founded in 2019 by Sanket Mehta (Co-founder & CEO) and Ganesh Nikam (Co-founder & CFO), Nutrifresh was born from the founders' existing experience in open field farming and floriculture. The core mission of the startup is to deliver clean, pesticide-free, and residue-free produce to Indian consumers year-round. It achieves this by employing hydroponic farming techniques within climate-controlled, controlled environment agriculture (CEA) facilities. This method, which is soilless, allows for precise nutrient delivery, significantly reduces water usage (by up to 90% compared to conventional farming), and ensures consistent, high-quality output regardless of external weather conditions.
Revenue Model and Growth
Nutrifresh operates primarily on a Business-to-Business (B2B) model, which accounts for the vast majority of its revenue. It supplies its fresh, high-quality produce, including over 42 SKUs of fruits, vegetables, and leafy greens, to a large network of aggregators, modern trade retailers, and quick commerce platforms. Key B2B clients include major names like Zepto, Swiggy Instamart, Blinkit, McDonald's (Vista Foods), and Spar.
The company also maintains a smaller Business-to-Consumer (B2C) segment, selling directly to consumers in cities like Mumbai and Pune via its own e-commerce platform and app. The sale of fresh produce and customized salads is the sole source of its operating revenue.
Key Growth Highlights:
| Metric | FY25 Result | FY24 Result | Growth |
| Operating Revenue | ₹145 crore | ₹96.82 crore | $\sim 50\%$ |
| Profit After Tax (PAT) | ₹14 crore | $\sim$ ₹8.95 crore | $\sim 55\%$ |
| EBITDA Margin | $17.32\%$ | $18.86\%$ |
The sharp increase in profitability and revenue in FY25 is attributed to several strategic factors:
Precision Farming and Resource Efficiency: Efficient use of resources and the adoption of tech-driven precision farming techniques have contributed to higher margins.
Expanded Operations: The company has scaled its hydroponic farming operations, which now span a significant area in and around Pune, with plans for further capacity expansion.
Enhanced Supply Chain: Streamlined logistics and supply chain efficiency, ensuring the produce reaches the consumer within 24 hours of harvest, have further boosted margins.
Growing Consumer Demand: Increasing consumer preference for fresh, safe, and pesticide-free produce has driven sales volumes.
Fundraising and Future Plans
Nutrifresh has successfully navigated the funding landscape, demonstrating investor confidence in its profitable model.
Total Funding: The company has raised approximately $20 million across various rounds.
Key Funding Round: In May 2022, Nutrifresh secured $5 million in a Pre-Series A funding round from investors, including Archer Investments, Green Frontier Capital, Sky Kurtz (Pure Harvest, UAE), and Florintree Advisors. This capital was earmarked for scaling farm operations, implementing complete traceability, marketing, and developing its integrated farm-tech platform.
Looking ahead, Nutrifresh plans to utilize its strong profits to expand into new cities across India and make substantial investments in automation and climate-smart farming technologies. The company is proposing a significant capital expenditure to nearly double its area under farming, solidifying its commitment to being a leader in the agritech sector and driving the much-needed innovation in India's modern food supply chain.