SUMMARY
- Atomberg’s revenue from its operations surged by 31.5% to reach Rs 848 crore in FY24.
- Atomberg reduced its losses by 31.7% YoY from Rs 202 crore in FY23 to Rs 138 crore in FY24.
- The company’s operational EBITDA improved from a loss of Rs 49 crore to a surplus of Rs 22 crore in FY24.
In FY24, Consumer appliances provider Atomberg‘s revenue from its operations surged by 31.5% to reach Rs 848 crore, up from Rs 645 crore in FY23. This rise signifies a strong performance in its primary product category, fans, which accounted for Rs 841 crore in revenue.
The brand’s range of products includes energy-saving brushless direct current (BLDC) and smart fans, as well as mixer grinders and smart locks. It has reported selling over 8 million units to date.
Its revenue from non-fan products was just Rs 7 crore for FY24. The company anticipates a significant increase in these areas in FY25, driven by positive sales trends in its kitchen and lock products.
The company’s operational EBITDA improved from a loss of Rs 49 crore to a surplus of Rs 22 crore in the year under review, narrowing its EBITDA margin from -8% to -3%.
Atomberg reduced its losses by 31.7% YoY from Rs 202 crore in FY23 to Rs 138 crore in FY24.
The gap between its operating EBITDA and reported losses was due to non-operating expenses, such as ESOP grants, management incentives, and expenses related to fundraising activities.
A91 Ventures-backed Atomberg maintained its status as a leading seller on major ecommerce platforms. The company also invested in research and development (R&D) activities during the year to launch new products, including fans and mixers.
Established in 2012 by Manoj Meena and Sibabrata Das, Atomberg has secured a total of $130 million in funding, including an $86 million Series C funding round in May 2023 led by Temasek and Steadview Capital.
