Open agri network Samunnati eyeing over 50 pc growth in revenue at Rs 6,600 cr in FY24

Mumbai: Open agri community Samunnati is eyeing over 50 per cent development in income at Rs 6,600 crore in 2023-24, on the again of deepening its attain in each its verticals – agri finance and market linkage companies, a high firm government mentioned on Saturday. The corporate has clocked an total Rs 4,400 crore income in 2022-23.

“We’re current in 23 states however the bulk of our enterprise is usually in states together with Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, Madhya Pradesh, Maharashtra, Gujarat and Odisha.

“We’re planning to deepen our consumer engagement in all 23 states providing each short-term loans to FPOs in addition to offering them with market linkages. With this enlargement we anticipate to clock Rs 6,600 crore income on this monetary yr,” Samunnati founder and CEO Anil Kumar SG instructed PTI.

At present, Samunnati has round 5,500 FPOs registered on its platform, 50 per cent of that are debtors whereas most avail the market linkage providing of the corporate, he mentioned.

Explaining additional, Kumar mentioned the corporate offers quick time period loans to Farmer Producer Organisations (FPOs) to offer working capital options procure from farmers.

Whereas the market linkage enterprise is normally availed by FPOs earlier than harvest for getting high quality inputs like fertiliser, pesticides, agri-equipments or seeds, entry to know-how and data amongst others, he added. In the meantime, Samunnati hosted a two-day conclave ‘Constructing a Resilient FPO Ecosystem’ in Hyderabad from June 23, to create recognition for these making a optimistic, sustainable, and long-lasting influence on farmers’ livelihoods.