Farm-to-fashion platform ‘ReshaMandi’ registers record profit

NT Correspondent

Bengaluru: The largest farm-tofashion digital ecosystem for natural fibres in India, Resha Mandi, has registered a record revenue of Rs 1248.3 crores in the financial year 2022- 23, a threefold growth.

The company also made it to the EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) profitability in Q3 from the previous year. The recent demographics have shown a fast potential of growing with intent to expand to the United States and Europe and the work on developing new product line stays.

Currently, fabrics like silk, cotton; viscose and linen are ready to be sold while sisal and banana are under trial. The company revenue experienced a hike of Rs 1,909 per cent in the financial year 2021 and 2022 to Rs 413.8 crores. In the financial year 2020-23 it came to Rs 1248.3 crores. Founder and CEO ReshaMandi, Mayank Tiwari said,” The company has an interesting story from the time it came into the origin.

Farmers, reelers, weaves to retailers, mills, manufacturers, exporters, corporators, designers and end users have been served by us which creates a cohesive ecosystem for the entire textile industry and since the EBITDA is on the roll with us, we are only planning to increase.”

The platform estimates that round of 55 per cent of future revenues will be directed by weaves (based on the revenue projections for the next 5 years) and 25 percent would come from farms and the other 20 percent from yarns. The platform is working alongside more than 100,000 farmers, over 10,000 reelers and 17,500 weavers, and more than 18500 retailers to empower and encourage smooth operations.