Atomberg Technologies’ FY22 Sales Jump 2.5X YoY To INR 356 Cr, Loss Flat At INR 39.3 Cr

SUMMARY

Atomberg Technologies’ revenue from sale of products stood at INR 356 Cr in FY22 as against INR 142.4 Cr in FY21

The home appliances manufacturer’s total expenses surged 125% to INR 397.1 Cr from INR 176.4 Cr in FY21

The Jungle Ventures-backed startup earned an operating revenue of INR 9.3 for every INR 1 it spent on marketing and advertising

Navi Mumbai-based home appliances manufacturer Atomberg Technologies witnessed a 2.5X year-on-year increase in sales in the financial year ending March 31, 2022. The startup, which is known for its ceiling fans, posted revenue from operations of INR 355.9 Cr in the financial year 2021-22 (FY22), a 149% jump from INR 143 Cr in FY21.

The Jungle Ventures-backed startup, which manufactures different types of fans and mixer grinders, earned a majority of revenue from the sale of its products on ecommerce portals, such as Amazon and Flipkart, and offline retail stores. Total revenue, including other income, jumped 148% to INR 357.8 Cr in FY22 from INR 144.2 Cr in FY21.

The startup’s total expenses surged 125% to INR 397.1 Cr in FY22 from INR 176.4 Cr in the previous fiscal year due to a sharp increase in cost of materials consumed. It spent INR 232.2 Cr on cost of materials in FY22, up 156% from INR 90.6 Cr in FY21.

Employee benefit expenses rose 47% to INR 40.1 Cr from INR 27.3 Cr in FY21. Employee benefit expenses generally comprise employee salaries, PF contribution, gratuity, among others.

Atomberg Technologies’ advertising and marketing expenses grew 178% to INR 37.8 Cr from INR 13.6 Cr in FY21. This means, the startup earned an operating revenue of INR 9.3 for every INR 1 it spent on marketing and advertising.

Atomberg Technologies’ loss remained almost flat in FY22 at INR 39.3 Cr as against INR 39.2 Cr in FY21.

Founded by IIT Bombay alumni Manoj Meena and Sibabrata Das, the home appliance startup manufactures energy-efficient, remote and voice-controlled fans and fan accessories. Its product portfolio includes ceiling, pedestal, wall and exhaust fans and mixer grinders.

It last raised $20 Mn in a funding round from Inflexor Ventures and existing investors including A91 Partners and noted angel investor Ramakant Sharma, cofounder of Livspace. The startup has raised a total funding of $45 Mn till date.

As per media reports, Atomberg Technologies is also in talks to raise a fresh funding of $75 Mn at a valuation of around $425 Mn.

Atomberg Technologies competes against deep-pocketed companies such as Havells, Crompton, and Usha.