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Economic Times
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Atomberg’s revenue rises 31% to Rs 848 crore
- Consumer appliances maker Atomberg Technologies reported a 31.4% increase in operational revenue to Rs 848 crore, but its net loss widened about 46.3% to Rs 202 crore during this period.
- Losses increased over the past two financial years due to fresh employee stock ownership plan (ESOP) grants, management bonuses and fundraising expenses.
- The operational earnings before interest, taxes, depreciation and amortisation (Ebitda) improved to a loss of Rs 22 crore in 2023-24 from a loss of Rs 49 crore in the previous year.
- Atomberg aims to reach operational profitability by the end of this fiscal.
- Currently, 70% of Atomberg’s revenue comes from offline channels, with the remaining 30% from online channels.
- In 2023-24, it generated Rs 841 crore from its fan business, with the remaining Rs 7 crore contributed by the mixer grinder and smart lock segments.
- Atomberg is also preparing to enter new product segments over the next 12-18 months, including water purifiers and other kitchen appliances.
- It may consider a secondary transactions-led funding round next year to provide exits to existing investors.
- Atomberg has raised a total of $128 million to date.
- the company went live on Zomato-owned Blinkit earlier this year and views quick commerce as a significant driver for its fan business in the future, especially during summer months.
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